Menu
Menu
China
Japan
Saudi Arabia
Korea
Turkey
India
VietnamPMDI prices corrected slightly in Q1 2025, falling by 1.69% to USD 2331/MT. This modest decline was attributed to typical post-holiday lulls in industrial activity following the Chinese New Year. Downstream demand from insulation and elastomer sectors softened temporarily, while some buyers delayed restocking in anticipation of further price corrections. On the supply front, improved plant utilization and lower feedstock costs—especially for benzene—reduced production expenses, allowing suppliers to ease prices slightly. Despite the dip, the overall sentiment remained stable, with expectations of a rebound in Q2 as construction and manufacturing sectors regain momentum.
Prices continued to climb in Q4 2024, rising by 3.36% to USD 2371/MT, supported by sustained demand from infrastructure and appliance manufacturing sectors. While some seasonal softness typically occurs in this quarter, government-backed construction and green building initiatives helped sustain procurement from the rigid foam segment. Meanwhile, reduced production output due to selective plant turnarounds and tighter environmental regulations in key regions added to supply-side constraints. Continued strength in overseas orders also absorbed a portion of local production, maintaining firm pricing levels despite year-end slowdowns in some domestic markets.
In Q3 2024, PMDI prices saw another rise of 3.15%, reaching USD 2294/MT. The upward trend was supported by ongoing construction and manufacturing demand, particularly in urban development projects and appliance insulation. Fluctuations in feedstock prices, particularly in the benzene market, led to an increase in overall production costs. At the same time, limited new supply and low stock levels across many downstream converters allowed suppliers to maintain pricing discipline. Export activity remained healthy, especially to South Asia and the Middle East, further tightening domestic availability and keeping the market on a positive trajectory.
PMDI prices rose further by 4.02% in Q2 2024, settling at USD 2224/MT. The increase was supported by improved construction activity as warmer weather spurred demand for rigid foam applications in insulation and panelling. Rising feedstock costs and tightening logistics in select regions added to upward pricing pressure. Several manufacturers also announced scheduled maintenance, slightly limiting domestic output and adding to the bullish tone. In addition, sustained export interest and moderate inventory levels encouraged producers to hold firm on pricing, leading to a gradually strengthening market throughout the quarter.
Prices increased by 4.19%, reaching USD 2138/MT in Q1 2024. The uptick was driven by a combination of rising feedstock costs—particularly aniline and benzene—and moderate post-Lunar New Year restocking activity. Downstream manufacturers resumed production across sectors such as insulation, adhesives, and polyurethane elastomers, contributing to increased demand. Although domestic consumption was slightly staggered due to the extended holiday period, robust export orders helped absorb supply. Producers leveraged tighter supply in the early part of the quarter, supporting firmer pricing as inventories remained manageable.
PMDI prices saw a modest decline in Q1 2025, with India Ex prices falling by 0.85% to USD 2351.23/MT, and CIF South Korea prices easing by 1.57% to USD 2142/MT. The downward shift was a result of typical post-holiday demand slowdown and financial year-end hesitancy across industrial buyers. Sectors like construction and foam insulation reduced offtake due to regional election-related activity, Holi-related shutdowns, and fiscal caution. Meanwhile, improved availability from South Korea and softening feedstock prices helped lower the cost of imports. As a result, both domestic and import market participants adjusted prices to reflect subdued buying sentiment, leading to a marginal dip in overall market levels.
Prices corrected downward in Q4 2024, with India Ex prices falling by 6.62% to USD 2371.38/MT and CIF South Korea prices dipping marginally by 0.28% to USD 2176.23/MT. The decline followed an aggressive price rally in the previous quarter and coincided with seasonal demand softening, especially as construction activity began to slow heading into winter. Additionally, inventories had built up during the previous high-demand phase, leading to a more cautious procurement approach by downstream buyers. Imports remained steady, but competitive overseas pricing pressured domestic producers to adjust offers downward, contributing to the correction in Ex-Works values.
In Q3 2024, PMDI prices saw their most significant quarterly rise, with India Ex prices jumping 10.54% to USD 2539.54/MT, while CIF prices rose by 4.94% to USD 2182.31/MT. The sharp increase in domestic prices was primarily driven by peak-season construction activity, particularly in commercial insulation and infrastructure expansion projects. Delays in cargo arrivals from South Korea due to port congestion and weather disruptions also limited import availability, pushing more buyers to rely on domestic sources. Additionally, a brief supply squeeze from a key Indian producer undergoing unplanned maintenance added to the price hike. Despite the rise in CIF values, the local market continued to command a premium due to tight supply and high demand.
Prices continued their upward trajectory in Q2 2024, with India Ex rising by 5.01% to USD 2297.46/MT and CIF values increasing by 6.47% to USD 2079.54/MT. The rise was supported by strong demand from the construction and appliance manufacturing sectors, fueled by summer-driven installation of insulation and refrigeration units. Tightened vessel availability and extended lead times on South Korean shipments contributed to firmer CIF values. Domestically, producers faced elevated raw material costs, particularly for benzene derivatives, while robust consumption kept inventories low. This favorable demand-supply dynamic allowed both local suppliers and importers to maintain pricing strength.
PMDI prices rose in Q1 2024, with India Ex prices increasing by 4.02% to USD 2187.8/MT and CIF prices from South Korea rising by 9.09% to USD 1953.08/MT. The surge was driven by strong post-winter restocking demand and heightened activity in insulation and cold storage sectors. Supply disruptions in parts of Northeast Asia, due to planned maintenance and tighter regulations, limited availability of imports, pushing CIF prices higher. Meanwhile, firm feedstock costs and the start of new project pipelines in India contributed to the upward momentum in domestic prices. Traders also reported active procurement from downstream foam manufacturers, supporting a bullish trend throughout the quarter.
PriceWatch is your trusted resource for tracking global methylene diphenyl diisocyanate price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the methylene diphenyl diisocyanate market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, PriceWatch keeps you fully informed of market dynamics.
In addition, PriceWatch provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With PriceWatch, you gain a competitive edge in understanding all the elements that influence methylene diphenyl diisocyanate prices worldwide. Stay ahead of the curve with PriceWatch’s reliable, accurate, and timely methylene diphenyl diisocyanate market data.
Track PriceWatch's methylene diphenyl diisocyanate price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.
These events underscore the MDI market’s vulnerability to global disruptions and highlight the need for continuous monitoring of supply-demand dynamics.
This research methodology ensures that PriceWatch delivers the most accurate, timely, and actionable MDI pricing assessments, helping our clients stay ahead of market trends and make informed business decisions.
Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
Polymeric MDI (methylene diphenyl diisocyanate), a key component in the production of polyurethane foams. It is derived from aniline and formaldehyde. Polymeric MDI is a mixture of diisocyanates with varying degrees of polymerization which finds widespread use in diverse applications.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Property | Specification |
| Purity (%) | 99.5 |
| Colour | Brown Liquid |
| Viscosity (25ºC) / mPas | 150~250 |
| Isocyanate content (-NCO)/% | 30.5~32.0 |
| Density (25ºC) / (g/cm3) | 1.220~1.250 |
| Acidity (%) | ≤0.030 |
| Hydrolysis of chlorine (%) | ≤0.20 |
Applications
Manufacturing rigid and semi-rigid polyurethane foam for construction panels, spray heat insulation, refrigeration insulation, and automotive interior panels.
The price of Methylene Diphenyl Diisocyanate (MDI) is affected by several factors, including the cost of key raw materials such as benzene and aniline. Fluctuations in crude oil prices can impact these feedstock costs, contributing to overall price volatility. Additionally, supply and demand dynamics in key industries like polyurethane foams, adhesives, and coatings play a crucial role. Regulatory policies, environmental restrictions, transportation costs, and production disruptions can also cause price fluctuations. Procurement teams should closely monitor these factors to optimize purchasing strategies.
The MDI market is sensitive to supply chain disruptions, which can arise from factors such as plant shutdowns, transportation bottlenecks, and raw material shortages. Given that MDI production is concentrated among a few major manufacturers globally, any unexpected outages or regulatory restrictions can lead to price surges. Conversely, increased production capacity or new market entrants may stabilize or reduce prices. Tracking supply chain developments is crucial for businesses looking to manage procurement risks effectively.
MDI prices differ across regions based on local production capacities, raw material availability, and demand conditions. Asia, particularly China, is a major producer and consumer, often benefiting from economies of scale and competitive pricing. North America and Europe, with stricter environmental regulations and higher production costs, may experience relatively higher prices. Procurement teams should evaluate regional price trends and consider factors like import duties, freight costs, and supplier reliability when making sourcing decisions.
Copyright 2025. All rights reserved. Nidhyana Price Watch Data Analytics Private Limited