Global Toluene Diisocyanate (TDI) Market Demand & Forecast Analysis, 2016-2032

Executive Summary : - 

Toluene Diisocyanate (TDI), a derivative of benzene; is a flexible type of polyurethane which is majorly utilized as cushioning in furniture and automobile industries. Toluene is converted into a diamine, which is further reacted to produce TDI. Like MDI, TDI is also reacted with a polyol to manufacture polyurethanes. The major application for TDI which constitutes more than 75% of TDI world demand is in flexible polyurethane foam, used in furniture, car seats and mattresses. Other applications include coatings, elastomers, rigid PU foams, concrete sealers, paints, chemical intermediates, and as cross-linking agents for nylon 6.

Global demand for TDI was around 2 million tons in 2016 and is further expected to increase in the coming years. Major companies like BASF, Bayer, Japan Mitsui Chemical, and Dow hold the major share in the TDI market. The demand-supply gap of TDI which is nearly balanced is likely to face an imbalance on account of excess supply due to increasing domestic production in China and new plant by Sadara Chemicals at Jubail, Saudi Arabia. Further, only a strong demand growth from the end-user industries, again in emerging economies will take some time to absorb the excess supply, pushing the market to get balanced in a couple of years. Asia-Pacific on account of China s fast growth in automotive sector, is expected to retain its largest market share in the long-term forecast. Globally, growth in demand for automobile and luxurious furniture will drive the TDI market.