The latest report by IMARC Group, titled “Toluene Diisocyanate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” provides a thorough examination of the Prices. This report delves into the Price of Prices, presenting a detailed analysis, along with an informative Toluene Diisocyanate Price Chart. Through comprehensive Toluene Price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the Demand, analyzing how it impacts market dynamics. To aid in strategic planning, the Price Forecast section provides insights into price forecast, making this Price report an invaluable resource for industry stakeholders.
Toluene Diisocyanate Last Quarter:
- United States: 2345 USD/MT (T80)
- South Korea: 1966 USD/MT (T80)
- Belgium: 2457 USD/MT (T80)
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The study delves into the factors affecting toluene diisocyanate price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Key Details About the Toluene Diisocyanate Price Chart - Last Quarter
The Toluene Diisocyanate (TDI) prices are primarily driven by its extensive application in producing polyurethane (PU) foams, which are widely used across various industries, including automotive, furniture, bedding, and construction. The demand for TDI closely correlates with the performance and requirements of these downstream sectors. In the recent quarter, the TDI market witnessed fluctuations driven by changes in consumer demand, feedstock availability, and broader economic factors that influenced production costs and market supply dynamics. The automotive and manufacturing sectors, significant consumers of polyurethane materials, experienced a downturn, impacting the demand for TDI. Additionally, the advent of bio-based polyurethane introduced a shift in market preferences, affecting the demand for petrochemical-based PU and isocyanates, including TDI.
In North America, the prices witnessed a downturn primarily due to reduced demand from the polyurethane segment, which was significantly impacted by the automotive manufacturing slowdown amid the United Auto Workers (UAW) strike. This scenario was compounded by declining feedstock toluene prices at the quarter's outset, attributed to diminished demand and a drop in WTI Crude Oil prices. This drop was linked to stabilizing speculations about supply chain disruptions in the Middle East, despite ongoing conflicts. The situation was further exacerbated by an ample supply of Toluene Diisocyanate in the market and subdued demand post-Black Friday, leading to cautious buying activities. The introduction of bio-based Polyurethane also played a role in dampening the demand for petrochemical-based PU and Isocyanates, resulting in an almost 8% price reduction for TDI compared to the previous quarter.
In Asia, initial feedstock toluene price declines were reflected in reduced TDI production costs, while manufacturing sector slowdowns and reduced demand from the automotive and manufacturing sectors led to consistent price drops across the quarter. Maintenance shutdowns by key producers like Mitsui Chemicals in Japan and BASF in South Korea temporarily affected supply dynamics. However, the end of the quarter saw feedstock availability concerns amid rising supply chain issues through the Suez Canal after the Red Sea attacks. In Europe, the bearish trend was accentuated by low demand from the polyurethane segment, a shift towards bio-based alternatives, and a contraction in manufacturing activities as evidenced by the Eurozone Manufacturing Purchasing Manager's Index. The bursting of a housing bubble negatively impacted the wood furniture market, further diminishing PU foam demand.
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, 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
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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