| Product | Category | Region | Price | Last Updated Month |
| Methylene Diphenyl Diisocyanate (MDI) | Chemicals | Saudi Arabia | 1,372 USD/MT | October'24 |
| Methylene Diphenyl Diisocyanate (MDI) | Chemicals | Saudi Arabia | 1,353 USD/MT | December'24 |
Stay updated with the latest Methylene Diphenyl Diisocyanate (MDI) prices, historical data, and tailored regional analysis
Asia
The MDI market in Asia experienced an initial price increase during the fourth quarter of 2024, driven by a temporary rise in demand from key downstream industries such as construction and automotive. This surge was further supported by limited supply, as production facilities operated at reduced capacities due to maintenance and logistical challenges. However, as the quarter progressed, production levels recovered, and inventories remained sufficient to meet existing demand, keeping the market relatively stable.
While the outlook initially appeared positive, weaker demand from downstream industries, particularly the construction sector, which faced slowdowns amid broader economic challenges, weighed on the market. By the end of the quarter, demand had further declined, leading to softened prices as increased inventory levels and reduced consumption pressured the market, resulting in a gradual decline in MDI prices. In Saudi Arabia, MDI prices were approximately 1,372 USD/MT (FOB) in October and around 1,353 USD/MT in December.
Europe
In the fourth quarter of 2024, Europe and Asia experienced a similar trend, with an initial price increase followed by a shift due to supply-demand dynamics. Production challenges were compounded by rising energy and raw material costs, exerting continued pressure on the market. However, as the quarter progressed, the market stabilized. A slowdown in key sectors, particularly construction and automotive, significantly impacted MDI demand.
The decline in industrial activity led to reduced consumption of MDI in polyurethane applications by the second half of the quarter. Consequently, prices declined toward the end of the quarter due to weak demand and rising inventory levels. By the close of Q4, these factors had contributed to a generally weaker outlook for MDI prices in Europe.
North America
In North America, the MDI market underwent similar shifts during Q4 of 2024. At the beginning of the quarter, prices rose due to production disruptions and increased demand from sectors such as automotive and construction. As the quarter progressed, supply and demand reached a balance, leading to price stabilization. However, overall demand remained lower than expected, particularly in the construction sector, which slowed due to higher interest rates and uncertain economic conditions.
A decline in demand was also observed in the automotive industry, contributing to softer MDI prices. By the end of the quarter, prices fell due to weakened demand from key downstream industries and high inventory levels. North America followed the same pattern as Asia and Europe, experiencing a short-term price increase, followed by stabilization, and ultimately a decline toward the end of the quarter.
Analyst Insight
According to Procurement Resource, MDI producers are impacted by the global economic slowdown, inventory pressures, and reduced consumption, suggesting lower prices in the upcoming months.
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Asia
The prices of Methylene Diphenyl Diisocyanate (MDI) displayed a fluctuating trajectory throughout the third quarter of 2024. In the early days of the quarter, the market maintained a cautious outlook with limited trading volume and poor follow-up on the new orders. The market was expected to maintain a balance between supply and demand, however, the majority of times throughout the quarter supply exceeded the demand, which kept the prices wavering at the lower end of the curve.
Some correction in prices was seen moving from August to September, however it was very temporary. The trajectory turned southward very quickly after that. There was limited cost support from the upstream aniline market. The downstream companies waited for the prices to fall and purchased only the needed amount, due to which the market was bound to remain range-bound.
Europe
The prices of MDI in the European market remained volatile, showing a fluctuating trajectory. The price in the European market mirrored the price trend of the Chinese market. The downstream demand remined weak in the said quarter as sales of polyurethane foams used in thermal insulation for buildings, refrigeration units, and piping dropped because of struggling construction sector. In Germany, the sales in the automotive sector had decreased, bringing down the overall demand for polyurethane foam, subsequently lowering the orders for MDI. Additionally, the fluctuating crude oil prices and fluctuating aniline prices provided little to no cost support to the MDI prices.
North America
The price of MDI in the North American market experienced fluctuations throughout the quarter, reflecting a wary sentiment among traders. Demand from the construction and automobile sector had been weak in the weeks leading up to September, contributing to a gloomy market outlook. Additionally, logistical challenges arose due to the hurricane season, which affected the supply of aniline as production facilities in some affected regions had to shut down for a while, but the challenges were short-lived and had limited effect on the supply of MDI.
Methylene Diphenyl Diisocyanate is a solid with a light-yellow tint. It is not water soluble. It may be harmful if consumed, inhaled, or absorbed via the skin. Depending on the composition of the solution and/or the nature of the material, it may or may not burn. Plastics are made with it.
C2H2
Production of polyurethane foams
Diphenylmethane, diisocyanate
Tosoh Corporation (Millionate), Hexion (US), Huntsman International LLC (Rubinate), BASF SE (Germany), Redox Pty Ltd (Australia)
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
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In this process, aniline and formaldehyde are reacted first in the presence of HCl as a catalyst in order to produce a mixture of diamine precursors and their corresponding polyamines. Diamines are then reacted with phosgene to form a mixture of isocyanates. Upon distillation of this mixture, oligomeric polyisocyanates, also known as polymeric MDI, along with a mixture of MDI isomers is formed. Fractionation of this mixture gives MDI.
Udeesha Tomar
AVP - Strategy and Solutions
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