Toluene Diisocyanate Price Trend Analysis 2026: Price Drivers, Market Insights, Supply Demand Analysis, Latest News & Historical Prices
Toluene Diisocyanate Price Trend
Asia
During the first quarter of 2025, TDI prices in the ASEAN and South Asia markets moved upward. BASF led the price hike with a significant increase, driven by rising operational costs such as transportation, energy, and regulatory compliance. Supply chain disruptions and elevated freight charges added to the cost pressures.
Despite the Chinese Lunar New Year temporarily cooling regional activity, demand stayed firm, especially in sectors like automotive and furniture manufacturing. With limited regional production capacity and continued feedstock constraints, buyers faced tight supply conditions, which supported higher prices throughout the quarter.
Europe
In Europe, TDI prices remained on a bullish trajectory through Q1’25. The market felt pressure from tight imports, particularly from Asia, due to increased global prices and transportation challenges. Severe winter weather and strikes caused congestion at key ports, delaying deliveries and pushing up freight costs.
Meanwhile, local production stayed limited because of high feedstock costs and geopolitical issues impacting crude oil supply. Demand remained solid, especially from the automotive sector, which saw rising production and exports. However, the construction sector showed mixed signals due to inflation and rising material costs. Overall, constrained supply and steady demand kept the market firm.
North America
In North America, TDI prices saw moderate upward movement. The market was relatively stable compared to Asia and Europe, but still influenced by global cost trends and supply limitations. Importers had to adjust to increased international prices, especially from Asia. Domestic demand held steady, with automotive and bedding sectors showing consistent consumption. Energy and logistics costs added some pressure, though not as sharply as in other regions. Production levels were largely stable, with few disruptions reported.
Analyst Insight
According to Procurement Resource, the TDI market may remain tight with upward pricing potential if feedstock issues persist and demand continues to hold, especially in downstream sectors like automotive and construction.
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Asia
According to the price database, Toluene Diisocyanate (TDI) prices in Asia exhibited fluctuating trends during the fourth quarter of 2024. In China, the toluene market initially experienced increased demand in the early days of the quarter but faced a notable decline towards the end of October due to reduced industrial activity. These fluctuations in toluene prices directly influenced TDI costs. By November, toluene prices in China had stabilized at lower levels, driven by a steady supply and weakened demand from downstream industries such as paints and adhesives. Consequently, TDI prices gradually stabilized, as market participants adopted cautious procurement strategies.
In December, TDI prices were further impacted by seasonal slowdowns and reduced industrial output. A similar trend was observed in India, where the TDI price graph displayed significant fluctuations. Initially stable, TDI prices later declined, primarily due to a drop in toluene prices, which was caused by a temporary supply shortage and weakened demand from downstream sectors, including polyurethane foams. By the end of the quarter, a slight increase in procurement activities and minor recoveries in toluene prices were noted. However, these improvements were insufficient to drive a substantial rise in TDI prices. Overall, market sentiment remained subdued, despite temporary upticks throughout the last quarter of 2024.
Europe
In the fourth quarter of 2024, Toluene Diisocyanate (TDI) prices in the European region exhibited a downward trend. At the beginning of the quarter, moderate demand from downstream industries led to range-bound fluctuations in TDI prices. However, as the quarter progressed, prices declined due to the seasonal slowdown in manufacturing activities. The coatings and foam industries reduced production, further limiting TDI consumption.
North America
Similar trends were observed in the North American TDI market, where prices fluctuated but ultimately declined. In the early part of the quarter, strong demand from the construction and automotive industries provided slight support to the market. However, as the holiday season approached, demand weakened, and trading activity slowed. Additionally, ample supply levels and stable feedstock prices reinforced the overall bearish sentiment.
Analyst Insight
According to Procurement Resource, the Toluene Diisocyanate price curve is expected to improve as demand from downstream industries strengthens following their reopening after the holiday season.
About Toluene Diisocyanate
Toluene diisocyanate, or TDI, is an organic molecule produced in vast quantities. It's a colourless to pale yellow liquid with a strong, pungent odour that's mostly used to make polyurethanes.
Toluene Diisocyanate Product Details
| Report Features | Details |
| Product Name | Toluene Diisocyanate |
| Industrial Uses | Adhesives and Sealants, Flexible Foam, Paints & Coatings, Binders , Elastomers |
| Chemical Formula | C9H6N2O2 |
| Synonyms | Diisocyanatomethylbenzene, Diisocyanatotoluene, Methylphenylene Isocyanate |
| Molecular Weight | 174.2 g/mol |
| Supplier Database | Overseas Polymers Pvt. Ltd., Huntsman Corporation., BorsodChem, The Dow Chemical Company, Mitsui Chemicals, Inc, Bayer, Lyondell Chemical Company |
| Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
| Currency | US$ (Data can also be provided in local currency) |
| Supplier Database Availability | Yes |
| Customization Scope | The report can be customized as per the requirements of the customer |
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Toluene Diisocyanate Production Processes
- Production of TDI from Toluene via Phosgenation
The nitration of toluene with nitric acid to make dinitrotoluene occurs before the catalytic hydrogenation to produce toluene diamine (TDA) in the liquid-phase phosgenation process. TDA is then dissolved in an inert solvent and treated with phosgene to get a crude TDI solution. Before being distilled under vacuum, this crude TDI solution is fractionated to remove any unreacted phosgene, solvent, and hydrogen chloride.
Methodology
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
Our Price Analysis Methodology
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