On August 26, Dow Europe GmbH announced price increases for select polyurethane products in Europe, the Middle East, Africa, and India. Polyols rose by €250 per metric ton, MDI and MDI-based products by €200 per metric ton, and polyurethane systems by €150 per metric ton, effective immediately. Dow attributed the adjustments to rising energy, raw material, and logistics costs in Europe.
The move follows a series of similar announcements in August. On August 18, Wanhua Chemical's Hungarian subsidiary BorsodChem had already raised MDI prices by €200/ton, TDI by €350/ton, and polyols by €300/ton. Huntsman had implemented a €250/ton increase on MDI products in Europe, Africa, and the Middle East effective August 1. BASF also raised prices for neopentyl glycol and 1,6-hexanediol in Europe during August.
In other words, the European polyurethane chain saw a synchronized round of price hikes in August, covering MDI, TDI, polyols, and other products, with increases generally ranging from €200 to €350 per ton.
In market terms, MDI and TDI prices have been on an upward trend. Current prices stand at RMB 17,800/ton for polymeric MDI, RMB 21,500/ton for pure MDI, and RMB 17,500/ton for TDI. Against the backdrop of persistently high energy and raw material costs in Europe, cost support combined with strong producer determination to hold prices firm is directly supporting MDI and TDI spot prices while also boosting global market confidence.
Over a longer horizon, the polyurethane industry is undergoing a "rising East, falling West" structural shift. Looking back over the past five years, Wanhua Chemical's revenue has grown steadily, while overseas majors such as BASF, Covestro, Huntsman, and Dow have generally seen revenue under pressure, with profits showing a pattern of "volume growth without profit growth," fueling a strong desire for margin recovery. Dow itself noted that its sales growth was driven primarily by price increases.
