Toluene Diisocyanate Pricing Report

Toluene Diisocyanate Prices December 2023

The price of toluene diisocyanate in the United States for Q4 2023 reached 2345 USD/MT (T80) in December. The price trend in the United States remained persistent amid cautious buying activities from buyers.

The price of toluene diisocyanate in South Korea for Q4 2023 reached 1966 USD/MT (T80) in December. However, at in the end of the quarter of 2023, feedstock availability was affected amid the rise in supply chain concerns through the Swiss Canal atter the Red Sea attacks in the Middle East region.

The price of toluene diisocyanate in Belgium for Q4 2023 reached 2457 USD/MT (T80) in December. The market in Belgium was decreased, with the consumption of polyurethane components diminished on inventory levels remained firm in the market lowercase.

Toluene Diisocyanate Price Trend, Market Analysis, and News

IMARC’s newly published report, titled Toluene Diisocyanate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data, offers an in-depth analysis of toluene diisocyanate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing toluene diisocyanate price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Toluene Diisocyanate Market Analysis

The global toluene diisocyanate market size reached 2.4 Million Tons in 2023. By 2032, IMARC Group expects the market to reach 2.9 Million Tons, at a projected CAGR of 2.00% during 2023-2032.

• The extensive use of TDI as a crucial ingredient in the production of polyurethanes, is driving the expansion of the polyurethane sector especially in flexible form applications like mattresses, furniture and automotive seating which is fueling the demand for TDI. For instance, in December 2023, Pearl Polyurethane Systems, a leader polyurethane (PU) insulation solution and other PU-based applications announced its latest expansion milestone with the establishment of a distribution hub in Maharashtra, India. This is likely to boost the market growth.
• The expanding automotive industry, along with the increasing demand for TDI-based foams for manufacturing care seats, armrests, headrests, insulation panels, and dashboards is contributing to the growth of the market. For instance, in May 2023, Lear Corporation, a global automotive technology company, operating in in Seating and E-Systems, announced plans to open a Connection Systems plant in Morocco in the 3rd quarter of 2023 that will manufacture injection moulded parts and engineered plastics for automakers, suppliers and Lear’s E-Systems and Seating business units. This is further bolstering the demand for TDI in the automotive industry.
• The rising use of TDI in the construction industry for insulation in floors, walls, and roofs represents one of the key factors influencing the growth of the market across the globe. This further aids in energy conservation, which makes buildings more energy efficient and reduces heating and cooling costs. According to US census data, construction spending in the United States shrank by 0.3% from the previous month in February 2024, following a 0.2% decrease in the previous month defying market forecasts of 0.7% rise. That marks the 2nd consecutive decline in construction spending which is led by public construction outlays (-1.2%). Meanwhile, spending on private construction was unchanged, with a 0.7% rise in the residential segment being offset by a 0.9% drop in non-residential construction. Yearly, construction spending grew by 10.7% in February. This is expected to propel the demand for TDI-based products in the construction industry.

Toluene Diisocyanate News

The report covers the latest developments, updates, and trends impacting the global toluene diisocyanate market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in toluene diisocyanate production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.

Latest developments in the toluene diisocyanate industry:

• In August 2022, Tosoh Corporation announced that it aims to increase the production capacity of separation and purification media TOYOPEARL and TSKgel PW at its Nanyo Complex in response to the rising demand for antibody and oligonucleotide drug purification.
• In February 2024, BASF invests a high double-digit euro amount in a new fermentation plant for biological and biotechnology- based crop protection products as its Ludwigshafen site. The plant is likely to manufacture products that bring value to farmers including biological fungicides and biological seed treatment. BASF also plans to use the plant to produce the main building block of Inscali, a novel insecticide derived from a fungal strain.

Product Description

Toluene diisocyanate (TDI) refers to chemical compound that widely used in the production of polyurethanes. Polyurethanes are essential for manufacturing flexible foam applications like bedding, furniture, and automotive seats.

TDI is grouped into two major isomers, including 2,4-toluene diisocyanate and 2,6-toluene diisocyanate, with the former being more prevalent in commercial utilization owing to its more reactive nature.

TDI holds the ability to create durable, lightweight, and flexible materials, thereby making it indispensable in several industries. However, TDI needs to be handle with strict safety measures attributed to its potential health hazards such as skin irritation, respiratory issues, and other allergic reactions upon exposure.

As a result, industries employing TDI follow rigorous safety protocols to mitigate these risks, ensuring worker safety and environmental protection. Moreover, the controlled usage of TDI highlights its critical role in advancing material science and manufacturing which is contributing significantly to modern day conveniences and technological advancements.

Regional Coverage

The report provides a detailed analysis of the toluene diisocyanate market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the price trends.

Global Toluene Diisocyanate Price

The report offers a holistic view of the global toluene diisocyanate pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.

Europe Toluene Diisocyanate Price

The European region has experienced a bearish price trend owing to Low demand from polyurethane segment along with, along with sluggish manufacturing activities during the peak winter and decreased offtakes from domestic buyers. Primarily call mom adequate availability of supplies and switching interest of downstream buyers towards bio-based polyethylene materials negatively impacted the demand from the buyers. As a result, the consumption of polythene components diminished, and inventory levels remained firmed in the market.

This analysis can be extended to include detailed toluene diisocyanate price information for a comprehensive list of countries.

North America Toluene Diisocyanate Price

In North America, the toluene diisocyanate market has witnessed a decline during the fourth quarter of 2023 owing to the low demand and sluggish manufacturing activity. This decline is due to depressed consumption rates from end user activities. The demand was for polyurethane materials from automotive manufacturers attributed to a decline in manufacturing activities amid the United auto workers (UAW) strike.

Specific data on toluene diisocyanate prices within the United States and Canada can also be provided.

Middle East and Africa Toluene Diisocyanate Price

The analysis of toluene diisocyanate prices in Middle East and Africa provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

In addition to region-wise data, information on toluene diisocyanate prices for countries can also be provided.

Aisa Pacific Toluene Diisocyanate Price

The toluene diisocyanate pricing in the Asia Pacific region experience bearish trend attributed to the low to moderate demand from the downstream industries and the decline in manufacturing sector activities, and prices decreased consistently throughout the final quarter of the year 2023. Primarily the feedstock toluene prices fell down owing to a decline in upstream crude oil prices amid weakening US and European economies, which reduced the production cost and production rates remain firm in the region.

This analysis can be further extended to include detailed toluene diisocyanate prices for a comprehensive list of countries within the region.

Latin America Toluene Diisocyanate Price

The analysis of toluene diisocyanate prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of toluene diisocyanate pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting toluene diisocyanate price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the toluene diisocyanate industry.