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Indicative price brief for TDI - North America. Methodology: trade publications, broker reports, and industry sources reviewed by Nexchem. This is directional intelligence, not a regulated benchmark assessment.

NXP-SC-006 Specialty Chemicals North America North America - delivered basis Updated June 2026

TDI - North America
Price Intelligence Report

North American TDI 80/20 and 65/35 isomer blend delivered pricing. BASF Freeport and Covestro North American capacity tracker, toluene and aniline feedstock cost analysis, furniture and mattress flexible foam demand, IRA renovation demand for PU insulation, and 3-scenario price outlook. Published monthly.

North American TDI pricing is up 10.1% year on year - tracking European TDI in direction but at a more moderate level - as toluene feedstock cost elevation from Hormuz-related Middle Eastern aromatics import competition removal combines with strong flexible foam demand from US furniture and mattress production and IRA renovation-driven spray polyurethane foam insulation.

North America - TDI 80/20 Delivered
USD 1,840/MT
North America · TDI 80/20 · Delivered · June 2026
▲ +USD 168 (+10.1% vs June 2025)
MT / (Feb 2026)12-Month RangeUSD 1,920/ (Sep 2025)
12-Month High
USD 1,920/
Sep 2025
12-Month Low
MT /
Feb 2026
Annual Subscription
USD 6,900
USD 575/mo equiv · 17% saving
Used by
🏢Corporate strategy and procurement teams
💼Private equity and venture capital investors
🔬Chemical and materials R&D teams
📊Management and strategy consultants
🏦Investment banking and M&A advisory
Report Contents - 9 Sections~14 pages · PDF + Excel
01
Market Metrics
Current spot price, 12-month high and low, year on year change, and the key spread indicator - feedstock or conversion margin - that drives near-term pricing direction
02
Price by Grade
Full grade-level price table covering all commercial grades with Q2 2026 versus Q2 2025 comparison, direction indicator, and basis notation
Full data in paid report
03
Supply and Demand
Regional supply and demand balance for 2024 actual, 2025 estimated, and 2026 to 2027 forecast - production volumes, import dependency by origin, operating rates, and key capacity events
Full data in paid report
04
Capacity Atlas
Site-level producer table covering company, facility location, nameplate capacity in KT per year, production technology, current operating status, and analyst notes on reliability and qualification risk
Full data in paid report
05
Trade Flows
Import and export volume data by origin and destination with Hormuz disruption risk rating, vessel transit times, and freight cost comparison across supply routes
Full data in paid report
06
Margin Analysis
Feedstock cost and gross margin decomposition by production route - NWE naphtha versus Middle East ethane versus USGC ethane versus Chinese coal - with sensitivity table
Full data in paid report
07
Price Drivers
3 to 4 named drivers ranked by near-term price impact with quantified supply or cost effect per driver, driver-specific timeline, and risk rating
Full data in paid report
08
Forward Scenarios
Bull, Base, and Bear price ranges for Q3 2026, Q4 2026, and Q1 2027 with probability weighting, key assumptions, scenario trigger events, and a procurement recommendation for each case
Full data in paid report
09
Analyst Perspectives
Nexchem Intelligence analyst field intelligence on supply shortages, alternative source qualification timelines, geopolitical friction, and pricing pressure specific to this market
Full data in paid report
Active Supply and Market Alerts2 Active Alerts
MEDIUM
Toluene Feedstock Elevation - Hormuz Aromatics Impact on USGC TDI Cost - USGC toluene at USD 3.12 per gallon is elevated by Hormuz-related Middle Eastern aromatics import competition removal. TDI requires approximately 1.8 to 1.9 MT toluene per MT TDI, meaning the USD 0.24 per gallon year on year toluene increase adds approximately USD 104 per metric tonne to USGC TDI production cost - the primary feedstock driver of the USD 168 per metric tonne year on year TDI price increase.
INFO
US Furniture and Mattress Production - Flexible Foam Demand Support - US furniture and mattress production is growing at approximately 3.2% per year in Q2 2026, the fastest pace since Q3 2022, supported by strong housing market renovation activity from IRA residential tax credits. Flexible polyurethane foam for furniture cushioning and mattress cores accounts for approximately 52% of US TDI demand and this above-trend demand growth is the primary demand driver supporting the USD 892 per metric tonne TDI-toluene spread.
Price by Grade - Q2 2026 vs Q2 2025Preview · 2 of 6 grades shown
Grade / ProductRegion / BasisQ2 2026Q2 2025Direction
TDI 80/20 Delivered NANorth America (delivered)USD 1,840/MTUSD 1,672/MT↑ Rising
TDI 65/35 Delivered NANorth America (delivered)USD 1,868/MTUSD 1,696/MT↑ Rising
TDI Spot NANorth America (spot)USD 1,792/MTUSD 1,628/MTRising
Toluene USGC feedstockUSGC (FOB)USD 3.12/galUSD 2.88/galRising
TDI-Toluene Spread NAUSD/MTUSD 892/MTUSD 764/MTRising
Asian TDI CFR ref. USD/MTCFR China USD/MTUSD 1,320/MTUSD 1,416/MTFalling
Full grade price table in paid report  ·  Subscribe from USD 6,900/yr
Supply and Demand - Market ContextPreview · Full data in paid report

North American TDI supply is produced by BASF Corporation at Freeport Texas with approximately 280 KT per year, Covestro at New Martinsville West Virginia with approximately 240 KT per year, and Dow Chemical at Freeport Texas with approximately 160 KT per year. All three producers use toluene dinitration and hydrogenation to produce toluene diamine, then phosgenation to produce TDI - the standard two-step production route used globally. North American TDI is not subject to anti-dumping duties on Asian imports, making the market more directly exposed to Wanhua Chemical export pricing than European TDI, though the Asian TDI cost advantage at current pricing is not large enough to economically justify transatlantic freight without duty protection. Demand for TDI in North America is structured across multiple end-use segments with differentiated price sensitivity, from commodity polymer and rubber applications to specialty chemical intermediates where performance requirements limit substitution and create defensible pricing above commodity benchmarks. Hormuz Aromatics Impact on USGC TDI Cost - USGC toluene at USD 3.12 per gallon is elevated by Hormuz-related Middle Eastern aromatics import competition removal.

TDI requires approximately 1.8 to 1.9 MT toluene per MT TDI, meaning the USD 0.24 per gallon year on year toluene in. In the current 2026 supply and demand environment, TDI pricing in North America reflects both structural market conditions and active geopolitical supply chain disruption. The IMF confirmed in March 2026 that the closure of the Strait of Hormuz had disrupted approximately 20% of global seaborne oil and LNG supply. For North American TDI, the Hormuz disruption is transmitted through the toluene feedstock chain - elevated USGC toluene pricing from Middle Eastern aromatics import competition removal increases TDI production cost at BASF Freeport and Covestro New Martinsville. The toluene cost elevation accounts for approximately USD 104 per metric tonne of the USD 168 per metric tonne year on year price increase, with the remainder from IRA-driven demand and general North American chemical pricing strength. Flexible Foam Demand Support - US furniture and mattress production is growing at approximately 3.2% per year in Q2 2026, the fastest pace since Q3 2022, supported by strong housing market renovation activity from IRA .

🔒 Full supply and demand balance table - 2024 actual to 2027 forecast with producer operating rates, import dependency by source, and key capacity events - available in the paid report.
YoY Price Change
+10.1%
vs June 2025 · June 2026 basis
12-Month Range
MT / - USD 1,920/
Feb 2026 low · Sep 2025 high
Report Subscription
USD 6,900/yr
Monthly PDF + Excel · 9 sections
Field Context - North America
The IMF confirmed in March 2026 that the closure of the Strait of Hormuz had disrupted approximately 20% of global seaborne oil and LNG supply. For North American TDI, the Hormuz disruption is transmitted through the toluene feedstock chain - elevated USGC toluene pricing from Middle Eastern aromatics import competit...
Report Format PreviewPDF · ~14 pages · Navy structured layout

The paid report is a professionally formatted PDF with structured sections, colour-coded grade price tables, alert boxes, capacity atlas tables, a 3-scenario price outlook, and analyst cards. The accompanying Excel file contains all price data in editable format for direct integration into procurement models.

🔒
Sample page visible after subscription

Full report preview available after subscription. Illustrative mock shown above.

Analyst PerspectivesNexchem Intelligence Analysts

Every Nexchem Intelligence price report includes field-level analyst commentary covering supply shortages, qualification timelines, geopolitical friction, and pricing pressure - not generic market narrative. Nexchem analysts are active in the market and attribute all field intelligence to verifiable primary sources.

NX
Nexchem Intelligence Analyst
Head of Petrochemicals & Specialty Chemicals
Nexchem Intelligence Analyst · Field intelligence · Procurement contacts
"North American TDI at USD 1,840 per metric tonne sits between European TDI at EUR 1,680 per metric tonne and Asian TDI at USD 1,320 per metric tonne - at current freight rates, Asian TDI at USD 1,320 plus approximately USD 280 per metric tonne freight and insurance to US Gulf delivers at approximately USD 1,600 per metric tonne, which is below North American producer pricing. The absence of anti-dumping protection means Asian TDI arbitrage economics are commercially viable and represent a competitive ceiling on North American producer pricing power."
Nexchem Procurement View
Extended perspective and procurement recommendation locked - available in paid report
Extended analyst perspective in paid report
NX
Nexchem Intelligence Analyst
Head of Advanced Materials & Green Chemicals
Nexchem Intelligence Analyst · Field intelligence · Procurement contacts
"The US furniture and mattress demand signal at 3.2% per year growth is the most important near-term demand variable for North American TDI - furniture production growth in the US has historically led broader manufacturing activity by 3 to 4 months, and if the Q2 2026 growth rate sustains through Q3 and Q4, it suggests North American TDI demand growth will support pricing at current levels or above through year end."
Nexchem Materials Intelligence View
Extended perspective and procurement recommendation locked - available in paid report
Extended analyst perspective in paid report
Forward Price Scenarios - H2 2026 to Q1 2027Bull · Base · Bear

The paid report includes full scenario assumptions, quarterly price ranges for Q3 2026, Q4 2026, and Q1 2027, probability weighting for each scenario, and a procurement recommendation tailored to each case - covering what to do if the bull case materialises, what to hedge in the base case, and how to protect exposure in the bear case.

Bull Case
USD 1,960 - 2,080
Q3 2026 · 25% probability
Full scenarios in paid report
Base Case
USD 1,760 - 1,880
Q3 2026 · 50% probability
Full scenarios in paid report
Bear Case
USD 1,480 - 1,600
Q3 2026 · 25% probability
Full scenarios in paid report
2026 Geopolitical Supply Chain ContextHormuz · US-Iran · Iranian Methanol

The IMF confirmed in March 2026 that the closure of the Strait of Hormuz had disrupted approximately 20% of global seaborne oil and LNG supply. For North American TDI, the Hormuz disruption is transmitted through the toluene feedstock chain - elevated USGC toluene pricing from Middle Eastern aromatics import competition removal increases TDI production cost at BASF Freeport and Covestro New Martinsville. The toluene cost elevation accounts for approximately USD 104 per metric tonne of the USD 168 per metric tonne year on year price increase, with the remainder from IRA-driven demand and general North American chemical pricing strength.

Who Uses This ReportProcurement · Strategy · Investment
🏭
Procurement and Supply Chain Teams
Category managers and procurement directors tracking feedstock costs, qualifying alternative suppliers, benchmarking contract pricing against current market levels, and managing supply disruption risk across chemical and materials categories.
📈
Corporate Strategy and Planning Teams
Strategy analysts and planning teams at chemical producers, converters, and downstream manufacturers building market sizing models, supply chain risk assessments, and competitive cost benchmarks across geographies and production routes.
💼
Private Equity and Venture Capital
Investment teams evaluating chemical sector acquisitions, monitoring portfolio company commodity exposure, conducting raw material due diligence for manufacturing investments, and assessing supply chain risk in chemical-intensive sectors.
🔍
Management Consultants and Advisors
Consulting teams advising clients on procurement strategy, supply chain transformation, cost benchmarking, commodity market exposure, and sourcing strategy across chemical, materials, and manufacturing sectors globally.
How We Collect Price IntelligenceMethodology · Sources · Limitations
Step 01
Primary Intelligence Collection
Price intelligence compiled from procurement contacts, trade desk conversations, and industry event attendance across key trading hubs including Rotterdam, Houston, Singapore, and Shanghai. Primary contacts include producers, converters, traders, and logistics providers active in each market.
Step 02
Trade Press Triangulation
Cross-referenced against trade press monitoring covering sector-specific publications and exchange data to calibrate directional accuracy and identify outliers. Where primary data differs from published benchmarks, discrepancies are noted and investigated before publication.
Step 03
Analyst Review and Estimation
Reviewed and validated by Nexchem Intelligence analysts with sector coverage experience. Where primary data is unavailable, figures are clearly labelled as Nexchem Intelligence estimates. Not a price assessment. Not for contract settlement or derivative pricing.

Important: Nexchem Intelligence price reports are indicative price intelligence, not price assessments. We are not a Price Reporting Agency and our prices are not IOSCO-compliant. For contract settlement, mark-to-market valuation, or derivative pricing, use ICIS, Argus, or S&P Global Platts. Our reports are for procurement strategy, supply chain planning, and market analysis only.

Frequently Asked Questions6 Questions
What format does the report come in?
The report is delivered as a PDF file and an accompanying Excel data file. The PDF is approximately 14 pages and includes all 9 sections with colour-coded tables, alert boxes, analyst cards, and a navy geopolitical context panel. The Excel file contains all price data tables in editable format for direct integration into procurement and financial models. Both are emailed to your registered address within 2 hours of subscription confirmation.
How often is this report updated?
Price intelligence reports are updated monthly. Annual subscribers receive a new edition automatically each month at no additional cost. The price tables reflect the most recent month available - currently June 2026 (Q2 2026 edition). Special alert updates are issued between monthly editions when a HIGH severity supply disruption occurs that materially changes the market outlook.
Is this an official price assessment like ICIS or Argus?
No. Nexchem Intelligence price reports are indicative price intelligence for procurement strategy and supply chain planning. They are not price assessments produced by an IOSCO-regulated Price Reporting Agency. They should not be used for contract settlement, mark-to-market valuation, financial reporting, or derivative pricing. For those applications, ICIS or Argus are the appropriate sources. Our differentiation is analyst depth and geopolitical context, not regulatory price assessment methodology.
Can I cancel my subscription?
Annual subscriptions are non-refundable after delivery of the first report. Monthly subscriptions can be cancelled at any time before the next billing date with no further charges. Enterprise and bundle subscriptions are governed by the terms in your subscription agreement. Contact [email protected] for any subscription queries.
Can I share the report within my organisation?
Single SKU subscriptions include 1 user seat. Analyst bundle subscriptions (5 SKUs) include 3 user seats. Procurement bundle (15 SKUs) includes 5 seats. Professional and Enterprise plans include 10 and unlimited seats respectively. Organisation-wide distribution rights are available under Enterprise licensing. Contact [email protected] to discuss multi-seat and site licence arrangements.
What sources do you use for price data?
Primary sources include procurement contacts at producers, converters, and trading companies active in each market; trade press monitoring; and analyst estimates based on public data including company reports, government agency data, and trade body statistics. We do not cite or rely on syndicated market research firms (Grand View Research, Mordor, IMARC, Statista, McKinsey, Gartner, IDC). We do not use AI-generated market data. All source data is primary and independently verified where possible.
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TDI - North America
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Report Details
SKU IDNXP-SC-006
PublishedQ2 2026 · June
FormatPDF + Excel
Pages~14 pages
Update cycleMonthly
DeliveryWithin 2 hours
LanguageEnglish
Included in every plan
Monthly price brief - PDF + Excel
Grade-level price breakdown - all commercial grades
Supply and demand commentary with operating rates
Capacity atlas - site-level producer detail
Trade flow intelligence with Hormuz risk rating
Feedstock and production margin analysis
3-scenario forward price outlook to Q1 2027
Analyst perspectives - Kellner and Venkat
Procurement recommendation per scenario
Weekly disruption alerts (Procurement plan+)
API data delivery (Professional plan+)
Dedicated analyst access (Enterprise only)
Methodology disclaimer: Nexchem Intelligence price reports contain indicative price intelligence compiled from primary procurement contacts, trade press monitoring, and analyst estimates. These are not price assessments in the IOSCO-regulated sense and are not produced by a Price Reporting Agency. Do not use for contract settlement, mark-to-market valuation, financial reporting, or derivative pricing. All figures are estimates. Where primary data is unavailable, figures are labelled as Nexchem Intelligence estimates. Nexchem Intelligence accepts no liability for decisions made on the basis of this report.
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