The price of plasticizer DOP increased significantly in January
According to the Commodity Market Analysis System of Shengyi Society, as of January 31st, the DOP price was 8017.50 yuan/ton, a significant increase of 9.44% compared to the DOP price of 7325.84 yuan/ton on January 1st; On February 4th, the DOP price was 7950.84 yuan/ton, a decrease of 0.83% from the January 31st DOP price of 8017.50 yuan/ton. In January, the operating load of plasticizer DOP enterprises slightly decreased, with an operating rate of about 63%, and DOP production decreased compared to the previous month; The prices of isooctanol and phthalic anhydride have significantly increased, as well as the prices of raw materials and DOP. The cost increase, combined with a decrease in supply, led to a significant increase in the price of plasticizer DOP in January. In February, DOP enterprises saw a slight increase in production, leading to an increase in the supply of plasticizers. In addition, as the pre Spring Festival stocking period approached its end and demand fell, the price of plasticizers decreased in February.
Plasticizer DOP manufacturer’s production slightly decreases
In January, the operating load of DOP manufacturers slightly decreased, and the operating rate dropped from 68% in December to 63%. DOP production decreased, DOP supply decreased, and the upward momentum of DOP still exists. In February, the operating rate of DOP enterprises was around 64%, with an increase in DOP production and sufficient supply of DOP.
The price of raw material isooctanol has significantly increased
According to the Commodity Market Analysis System of Shengyi Society, as of January 31st, the price of isooctanol was 7880 yuan/ton, a significant increase of 13.93% compared to the price of 6916.67 yuan/ton on January 1st; On February 4th, the price of isooctanol was 7716.67 yuan/ton, a decrease of 2.07% from the price of 7880 yuan/ton on January 31st. The equipment maintenance of the isooctanol enterprise has been completed, and the operating load of the isooctanol enterprise unit has been increased to 9.5%. The supply of isooctanol is sufficient; The price of propylene has risen significantly, and the cost support of isooctanol has increased. The price of isooctanol has significantly increased, the cost of plasticizers has risen, and the driving force for DOP increase has increased. In February, the price of isooctanol fell from a high level, and the cost of plasticizers decreased.
The phthalic anhydride market saw a significant increase in January
According to the Commodity Market Analysis System of Shengyi Society, as of January 31, the price of phthalic anhydride from neighboring countries was 6243.33 yuan/ton, a significant increase of 4.64% compared to the price of phthalic anhydride on January 1, which was 5966.67 yuan/ton; On February 4th, the price of phthalic anhydride was 6200 yuan/ton, a decrease of 1.33% from the price of phthalic anhydride on January 27th, which was 6283.33 yuan/ton. The price of raw material ortho benzene has risen, and the cost of phthalic anhydride has increased. In January, the price of phthalic anhydride fluctuated and rose, while the cost of DOP has increased. The support for the rise in plasticizers has increased. In late January, the price of industrial naphthalene fell and the price of ortho benzene stabilized weakly. The cost of phthalic anhydride decreased, and the price of phthalic anhydride fluctuated and fell. The cost of plasticizers has decreased, and the support for the rise in plasticizers has weakened.
Rising demand for plasticizers
On January 8, 2026, the Ministry of Finance and the State Administration of Taxation issued a notice clarifying that the 13% value-added tax export rebate for plasticized PVC would be cancelled from April 1, 2026, and would be implemented simultaneously with unplasticized PVC and PVC pure powder. Plasticized PVC, also known as soft PVC, relies on plasticizers (such as DOTP, DOP, etc.) to adjust its flexibility, and is widely used in fields such as wires and cables, synthetic leather, films, and hoses. In order to enjoy the final tax rebate dividend, such enterprises will accelerate their order placement before April 1st, and overseas customers will also concentrate on purchasing, which will boost export volume in the short term and drive the phased growth of demand for plasticizers. Pre Spring Festival stocking, downstream orders for plasticizers are supported by certain favorable factors, leading to an increase in demand for plasticizers.
Future expectations
According to the data analyst of Shengyi Society’s plasticizer products, in terms of cost, the price of isooctanol increased significantly in January, and the price of phthalic anhydride increased significantly. The support for the cost increase of plasticizer DOP increased significantly, and the price of plasticizer increased significantly. In February, the prices of isooctanol and phthalic anhydride fell, and the cost of plasticizer DOP decreased; In terms of supply, the operating rate of plasticizer enterprises remained weak and stable in January, with a slight decrease in plasticizer production. In February, the operating rate of plasticizer enterprises increased, with an increase in plasticizer production and sufficient plasticizer supply; In terms of demand, the tax rebate dividend has driven downstream demand growth, with a phased increase in demand for plasticizers in February and March. As the Spring Festival stocking approaches its end, demand for plasticizers has fallen. In the future, with the decrease in costs and the slowdown in demand growth due to sufficient supply, it is expected that the price of plasticizer DOP will remain weak and consolidate.
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