Phthalic anhydride (PA), the key feedstock for phthalate plasticizers, moved in sharply different directions across regions in Q3 2026, according to ChemAnalyst. Asian and North American prices climbed on feedstock tightness while European offers eased on soft downstream demand, leaving regional spreads unusually wide and underscoring the cost pressure feeding through to DOP and DINP producers.

In Asia-Pacific, PA averaged USD 1,208.00/MT (Ex Dalian, China) in Q3, up 6.59% quarter-over-quarter as acute ortho-xylene tightness, unit outages and higher coal costs tightened spot availability and lifted conversion expenses. September assessments reached USD 1,309.00/MT in China, USD 1,486.00/MT in India and USD 1,708.00/MT in the United States. In North America, prices jumped 15.97% to USD 1,604.67/MT (DEL New York) on tightened imports, firm o-xylene replacement costs and sporadic rail congestion, while Europe fell 4.12% to USD 1,568.00/MT (FCA Cologne) as German plasticiser and alkyd-resin demand stayed weak and ortho-xylene eased in early July.

Chinese spot markets showed a similar split: Jiangsu-based ortho-xylene-derived PA oscillated in a high band of CNY 10,350–10,600/ton, while Hebei-based naphthalene-derived PA rebounded to CNY 9,400–9,600/ton, supported by persistently low operating rates in the naphthalene PA industry and rising utilisation at key downstream plasticizer plants. With India maintaining anti-dumping duties that narrow export outlets and freight premiums elevated by war-risk insurance, ChemAnalyst expects ortho-xylene-derived PA to stabilise while the naphthalene-based supply gap in Northern China remains difficult to fill.