The global polymer market has witnessed an unprecedented surge in prices following the outbreak of conflict in the Middle East, with PVC and other plastics experiencing sharp cost increases.
Industry data suggests that polymer prices have risen by over 40% in some segments within weeks of the conflict’s escalation, driven primarily by a spike in crude oil and naphtha prices.
Crude oil prices surged significantly as disruptions impacted nearly one-fifth of global oil flows through the Strait of Hormuz, tightening supply and inflating feedstock costs.
The impact has been particularly severe for petrochemical products derived from oil-based feedstocks, including PVC. Rising transportation costs, insurance premiums, and rerouting of shipments have further compounded the price increase.
The rapid escalation has created margin pressures for downstream manufacturers, especially in price-sensitive markets such as India.