Phthalic anhydride price in 2024
Phthalic anhydride is an important organic chemical raw material, widely used in synthetic resins, dyes, medicines, pesticides and other fields. The price of phthalic anhydride is affected by many factors such as raw material o-xylene, downstream demand, international market, and environmental protection policies. In 2024, the phthalic anhydride market experienced multiple fluctuations, and the overall trend showed an "M" shape, with the average annual price rising by about 10% compared with 2023.
In the first half of 2024, the market price of phthalic anhydride will continue to rise. The main reasons are as follows:
• The price of raw material o-xylene has increased, pushing up the cost of phthalic anhydride. The price of o-xylene is affected by factors such as domestic and foreign supply and demand, crude oil prices, and the US dollar exchange rate. In the first half of 2024, the price of o-xylene in the international market rose sharply, and the price of o-xylene in the domestic market also increased accordingly, resulting in an increase in the production cost of phthalic anhydride.
• Strong downstream demand has driven up the price of phthalic anhydride. The main downstream sources of phthalic anhydride are PVC, PTA, phenolic resin, etc. In the first half of 2024, with the economic recovery at home and abroad, demand in the construction, packaging, automobile, electronics and other industries increased, and the consumption and prices of PVC, PTA, phenolic resin and other products Both prices have increased, driving up demand and prices for phthalic anhydride.
• Rising prices in the international market stimulated an increase in exports of phthalic anhydride. In the first half of 2024, due to production reduction or suspension of phthalic anhydride units in Asia, Europe, America and other regions, the supply of phthalic anhydride in the international market was tight and prices rose. At the same time, the price gap between domestic and foreign phthalic anhydride has widened, stimulating an increase in domestic phthalic anhydride exports, reducing supply pressure in the domestic market, and supporting the rise in phthalic anhydride prices.
• Tightening of environmental protection policies affects the production and transportation of phthalic anhydride. In the first half of 2024, in order to deal with environmental problems such as haze and the greenhouse effect, the state strengthened environmental supervision of the chemical industry, requiring phthalic anhydride production companies to strictly control emissions and improve the operation rate of environmental protection facilities, which increased the cost and difficulty of phthalic anhydride production. At the same time, in order to reduce transportation pollution, the state has also restricted the transportation methods and routes of phthalic anhydride, which affects the circulation efficiency of phthalic anhydride and increases the transportation cost of phthalic anhydride.
To sum up, in the first half of 2024, the market price of phthalic anhydride was driven by many factors and showed a continuous upward trend. In June, the market price of phthalic anhydride reached the highest point of the year, with an average price of 9,000 yuan/ton, which was higher than that in 2023. Average annual prices have increased by about 20%.
SNOWHITE CHEM will provide you with more information about phthalic anhydride, please feel free to contact us.
Phone:86-25-56215758
Email:shirley@snowhitechem.com