세계의 톨루엔 디이소시아네이트 시장 예측 : 형태별, 용도별, 최종 사용자별, 지역별 분석(-2032년)

According to Stratistics MRC, the Global Toluene Diisocyanate Market is accounted for $4.9 billion in 2025 and is expected to reach $7.2 billion by 2032 growing at a CAGR of 5.5% during the forecast period. Toluene Diisocyanate (TDI) is a chemical compound derived from toluene and is primarily used as a building block for producing polyurethanes. It appears as a colorless to pale yellow liquid with a sharp, pungent odor. TDI reacts with polyols to form flexible foams, coatings, adhesives, and elastomers. It exists in different isomeric forms, mainly 2,4-TDI and 2,6-TDI. The substance is highly reactive and requires careful handling due to its toxic and irritant properties.

According to the Environmental Protection Agency (EPA) , under the Toxic Substance Control Act (TSCA), the EPA has proposed a significant new use rule (SNUR) for 2, 4-toluene diisocyanate, 2, 6-toluene diisocyanate, toluene diisocyanate unspecified isomers, and related compounds identified in this proposed rule.

Market Dynamics:

Driver:

Growing demand for furniture and bedding industries globally

Spurred by urbanization, rising disposable incomes, and evolving interior design trends, global demand for furniture and bedding continues to escalate. Toluene diisocyanate plays a critical role in producing flexible polyurethane foams used in cushions, mattresses, and seating applications. The shift toward comfort-enhancing and ergonomic designs further accelerates usage. Additionally, expanding real estate and hospitality sectors, particularly in developing nations, contribute to the increased consumption of TDI-based foam materials across residential, commercial, and institutional applications, reinforcing steady market growth.

Restraint:

Volatility in crude oil prices impacting raw material costs

TDI is synthesized using petrochemical derivatives, making its production cost highly sensitive to fluctuations in crude oil prices. Unpredictable shifts in oil markets-caused by geopolitical tensions, supply chain disruptions, or OPEC decisions-can significantly inflate raw material prices. This volatility introduces cost uncertainty for manufacturers, which may lead to margin pressure and hesitancy in scaling production. Additionally, cost pass-throughs to end users can reduce demand elasticity, affecting downstream sectors like automotive, construction, and home furnishings reliant on TDI-based products.

Opportunity:

Increasing focus on bio-based isocyanate alternatives

Rising environmental concerns and tightening sustainability mandates are prompting innovation in bio-based TDI substitutes. Manufacturers are investing in green chemistry to develop isocyanate alternatives derived from renewable feedstocks, reducing dependency on fossil resources. These bio-based solutions offer reduced toxicity, lower emissions, and improved lifecycle performance. As consumer and regulatory focus shifts toward sustainable materials, early adopters of bio-based isocyanates stand to gain a competitive edge. Government incentives and R&D collaborations further bolster the commercial viability of these alternatives.

Threat:

Public backlash and litigation over health hazards

Health concerns regarding toluene diisocyanate exposure-particularly respiratory disorders and skin sensitization-have intensified scrutiny from regulatory agencies and the public. Negative media attention, workplace safety violations, and lawsuits have contributed to a risk-averse approach from buyers and governments. Such developments may lead to stricter labeling, operational constraints, and demand for alternative chemicals. Furthermore, failure to comply with occupational safety standards could result in penalties, reputational damage, and reduced customer trust, ultimately posing a threat to sustained market penetration.

Covid-19 Impact:

The COVID-19 pandemic initially disrupted global supply chains and dampened demand across TDI-dependent sectors, including automotive and construction. Factory shutdowns and labor shortages hindered production and raw material availability. However, the post-pandemic recovery brought a resurgence in home renovations and furniture replacement cycles, rejuvenating demand for TDI-based flexible foams. The rising trend of remote work and home-centric lifestyles further propelled consumption in bedding and cushioning applications. Additionally, increased safety and hygiene measures boosted demand for medical and packaging foams.

The 2,6 toluene diisocyanate segment is expected to be the largest during the forecast period

The 2,6 toluene diisocyanate segment is expected to account for the largest market share during the forecast period propelled by, its high reactivity and widespread application in producing flexible polyurethane foams. This isomer offers superior foam formation and processing characteristics, making it the preferred choice across furniture, mattress, and automotive upholstery manufacturing. Its compatibility with polyols ensures stable foam structures with desirable mechanical properties. Moreover, its dominance is reinforced by long-standing industrial familiarity, efficient production methods, and reliable supply networks.

The flexible foam segment is expected to have the highest CAGR during the forecast period

Over the forecast period, the flexible foam segment is predicted to witness the highest growth rate, influenced by rising demand for comfort-enhancing materials in bedding, furniture, and transportation. Flexible foams offer excellent cushioning, durability, and energy absorption, making them ideal for consumer and industrial products. Growing preference for lightweight and ergonomic solutions across home furnishing and vehicle interiors further fuels segment expansion. The rebound in construction and e-commerce furniture sales post-COVID also contributes to the rising adoption of flexible TDI-based foams.

Region with largest share:

During the forecast period, the Asia Pacific region is expected to hold the largest market share, fuelled by rapid urbanization, booming furniture production, and growing automotive manufacturing hubs. Countries like China, India, and Southeast Asian economies are experiencing robust construction activity and rising consumer expenditure on home decor. Additionally, the presence of low-cost labor, favorable government incentives, and a flourishing manufacturing ecosystem strengthens the region's TDI consumption. Strategic investments by global players in regional production units further cement Asia Pacific's dominance.

Region with highest CAGR:

Over the forecast period, the North America region is anticipated to exhibit the highest CAGR, driven by growing emphasis on sustainable manufacturing practices and advanced foam technologies. The region's recovery in housing and automotive sectors, coupled with consumer demand for high-performance insulation and cushioning products, supports market acceleration. Moreover, robust R&D investment and regulatory shifts toward eco-friendly materials are encouraging the adoption of novel TDI formulations. The rise in premium bedding and healthcare foam applications also contributes to regional growth.

Key players in the market

Some of the key players in Toluene Diisocyanate Market include BASF SE, Covestro AG, Wanhua Chemical Group Co., Ltd., Mitsui Chemicals, Inc., Tosoh Corporation, Huntsman Corporation, Dow Inc., OCI Company Ltd., Karoon Petrochemical Company, Hanwha Group, Sadara Chemical Company, Chematur Engineering AB, Cangzhou Dahua Group Co., Ltd., Shanghai Lianheng Isocyanate Co., Ltd., and GNFC.

Key Developments:

In July 2025, Wanhua Chemical Group Co., Ltd. finalized upgrades to its TDI production line in Yantai, incorporating real-time emission monitoring systems to align with China's tightened VOC regulations.

In March 2025, GNFC (Gujarat Narmada Valley Fertilizers & Chemicals) announced the restart of its Bharuch TDI plant after a successful debottlenecking process, increasing annual capacity to meet rising domestic demand in India's foam and coatings sectors.

In January 2025, Huntsman Corporation completed a technology licensing agreement with a Middle Eastern petrochemical firm to supply proprietary TDI process technology, expanding its strategic footprint in emerging markets.

Forms Covered:

• 2,4 Toluene Diisocyanate
• 2,6 Toluene Diisocyanate

Applications Covered:

• Flexible Foam
• Paints & Coatings
• Elastomers
• Binders
• Adhesives
• Sealants

End Users Covered:

• Furniture & bedding
• Construction
• Automotive
• Electronics
• Packaging
• Textiles
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Application Analysis
• 3.7 End User Analysis
• 3.8 Emerging Markets
• 3.9 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Toluene Diisocyanate Market, By Form

• 5.1 Introduction
• 5.2 2,4 Toluene Diisocyanate
• 5.3 2,6 Toluene Diisocyanate

6 Global Toluene Diisocyanate Market, By Application

• 6.1 Introduction
• 6.2 Flexible Foam
• 6.3 Paints & Coatings
• 6.4 Elastomers
• 6.5 Binders
• 6.6 Adhesives
• 6.7 Sealants

7 Global Toluene Diisocyanate Market, By End User

• 7.1 Introduction
• 7.2 Furniture & bedding
• 7.3 Construction
• 7.4 Automotive
• 7.5 Electronics
• 7.6 Packaging
• 7.7 Textiles
• 7.8 Other End Users

8 Global Toluene Diisocyanate Market, By Geography

• 8.1 Introduction
• 8.2 North America
  • 8.2.1 US
  • 8.2.2 Canada
  • 8.2.3 Mexico
• 8.3 Europe
  • 8.3.1 Germany
  • 8.3.2 UK
  • 8.3.3 Italy
  • 8.3.4 France
  • 8.3.5 Spain
  • 8.3.6 Rest of Europe
• 8.4 Asia Pacific
  • 8.4.1 Japan
  • 8.4.2 China
  • 8.4.3 India
  • 8.4.4 Australia
  • 8.4.5 New Zealand
  • 8.4.6 South Korea
  • 8.4.7 Rest of Asia Pacific
• 8.5 South America
  • 8.5.1 Argentina
  • 8.5.2 Brazil
  • 8.5.3 Chile
  • 8.5.4 Rest of South America
• 8.6 Middle East & Africa
  • 8.6.1 Saudi Arabia
  • 8.6.2 UAE
  • 8.6.3 Qatar
  • 8.6.4 South Africa
  • 8.6.5 Rest of Middle East & Africa

9 Key Developments

• 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 9.2 Acquisitions & Mergers
• 9.3 New Product Launch
• 9.4 Expansions
• 9.5 Other Key Strategies

10 Company Profiling

• 10.1 BASF SE
• 10.2 Covestro AG
• 10.3 Wanhua Chemical Group Co., Ltd.
• 10.4 Mitsui Chemicals, Inc.
• 10.5 Tosoh Corporation
• 10.6 Huntsman Corporation
• 10.7 Dow Inc.
• 10.8 OCI Company Ltd.
• 10.9 Karoon Petrochemical Company
• 10.10 Hanwha Group
• 10.11 Sadara Chemical Company
• 10.12 Chematur Engineering AB
• 10.13 Cangzhou Dahua Group Co., Ltd.
• 10.14 Shanghai Lianheng Isocyanate Co., Ltd.
• 10.15 GNFC