Why did the Toluene Price Change in July 2025? U.S. Toluene Spot Price was generally range-bound during Q2 2025, with the Price Index showing little in weekly fluctuation as market fundamentals were well-balanced.

Get the latest insights on price movement and trend analysis of Toluene in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Why did the Nitro Toluene Price Change in July 2025? The Nitro Toluene Price Index in North America reflected modestly firm pricing behaviour in Q2 2025 buoyed by stable offshore imports and steady consumption from dye and pigment intermediates. Demand showed little volatility as it was driven primarily by cautious restocking and stable supply availability.

The average toluene import price stood at $353 per ton in May 2025, rising by 2.4% against the previous month.

Toluene TDI prices in India dropped from ₹93/KG in Oct 2023 to ₹73/KG in Oct 2024. Get 2025 forecast & market insights from Expert Market Research.

During Q1 2025, toluene prices in North America showcased mixed trends. A major drop was witnessed towards the quarter end, influenced by weak upstream cost support, ample inventories, and subdued demand across key downstream sectors. The sustained decline in crude oil and naphtha prices lowered production costs, allowing stable but subdued domestic output. Despite improved refinery margins and enhanced aromatics extraction efficiency, market sentiment remained bearish.

Explore the latest trends and factors influencing the price of toluene per ton in 2023, including market demand, geopolitical implications, and raw material costs, and discover how global economic conditions and supply chain dynamics shape its pricing across different regions.

Get the latest insights on price movement and trend analysis of Nitro Toluene in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Get the latest insights on price movement and trend analysis of Toluene Diisocyanate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

According to Cognitive Market Research, the global dibenzyl toluene market size will be USD 59.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 3.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 23.84 million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 17.88 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 13.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 2.98 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 1.19 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.
The <98% is the fastest growing segment of the dibenzyl toluene industry

Market Dynamics of Dibenzyl Toluene Market

Key Drivers for Dibenzyl Toluene Market

Growing demand for high-performance lubricants to drive market growth

The growing demand for high-performance lubricants significantly drives market growth for dibenzyl toluene. Industries such as automotive, manufacturing, and energy are increasingly relying on advanced lubricants to enhance operational efficiency and reduce wear and tear on machinery. High-performance lubricants offer superior properties, such as thermal stability, low volatility, and excellent fluidity, making them essential for high-stress applications. Dibenzyl toluene, known for its effective lubrication characteristics and compatibility with various materials, is gaining popularity as a key ingredient in formulating these lubricants. Additionally, the trend towards more efficient and environmentally friendly products encourages manufacturers to seek innovative solutions that meet stringent performance standards. As industries prioritize durability and efficiency, the demand for high-performance lubricants, including dibenzyl toluene formulations, is expected to rise, contributing to substantial market growth.

Increasing application in heat transfer systems to boost market growth

The increasing application of dibenzyl toluene in heat transfer systems is significantly boosting market growth. As industries such as chemical processing, manufacturing, and energy production seek efficient thermal management solutions, dibenzyl toluene emerges as a key player due to its excellent thermal stability and low viscosity. These properties allow it to effectively transfer heat in high-temperature environments, enhancing the efficiency of various systems, including reactors, chillers, and heat exchangers. The rising focus on energy efficiency and sustainability drives demand for effective heat transfer fluids, making dibenzyl toluene a preferred choice. Moreover, as regulations become stricter regarding emissions and environmental impacts, industries are increasingly turning to reliable heat transfer solutions that minimize energy loss. This growing reliance on advanced heat transfer systems is anticipated to propel the market for dibenzyl toluene significantly.

Restraint Factor for the Dibenzyl Toluene Market

Market volatility in raw material prices to limit market growth

Market volatility in raw material prices poses a significant challenge that limits growth in the dibenzyl toluene market. Fluctuations in the cost of key feed stocks, such as benzene and toluene, can lead to unpredictable pricing for manufacturers, impacting their profit margins and pricing strategies. Such instability can deter investment in production capacities and hinder the development of new applications. Additionally, rising raw material costs may compel manufacturers to pass these expenses onto consumers, potentially decreasing demand for dibenzyl toluene in price-sensitive markets. This uncertainty can also disrupt supply chains, leading to delays and shortages in production. As manufacturers strive to maintain competitive pricing while managing production costs, the overall market growth for dibenzyl toluene may be constrained, making it challenging to cap...

¿Por qué cambió el precio de Tolueno en julio de 2025? El precio del Tolueno Spot de EE.UU. fue generalmente limitado al rango durante el 2º trimestre de 2025, con el índice de precios mostrando poca fluctuación semanal, ya que los fundamentos del mercado estaban bien equilibrados.

In April 2023, the toluene price stood at $827 per ton (FOB, Japan), closely resembling the preceding month.

The toluene market, valued at $19,780 million in 2025, is projected to experience steady growth, driven by robust demand from the solvents, chemical intermediates, and fuels sectors. A Compound Annual Growth Rate (CAGR) of 3.1% from 2025 to 2033 suggests a significant expansion in market size over the forecast period. This growth is fueled by increasing industrial production, particularly in developing economies experiencing rapid urbanization and infrastructure development, which necessitates greater solvent and chemical intermediate usage. The automotive industry, a major consumer of toluene in fuel applications, is also a contributing factor to market expansion. However, fluctuating crude oil prices and stringent environmental regulations regarding volatile organic compound (VOC) emissions pose potential challenges to market growth. The competitive landscape includes major players such as ExxonMobil, Covestro, SINOPEC, BASF, Shell, Formosa Chemicals & Fibre, Indian Oil, Dow, and TOTAL, each vying for market share through technological advancements, strategic partnerships, and regional expansion. The market segmentation, while not provided, likely includes various grades of toluene based on purity and application, further influencing market dynamics. The major players' strategic focus is likely to be on optimizing production efficiency, expanding capacity in high-growth regions, and developing sustainable and environmentally compliant toluene production methods to mitigate regulatory pressures. This will involve significant investment in research and development to explore alternative feedstocks and improve process technologies. Diversification into specialized toluene applications, catering to the increasing demand from niche markets, is also expected to play a crucial role in shaping the market's trajectory over the next decade. Careful monitoring of global economic conditions and shifts in industrial production patterns will be essential for companies to navigate the complexities and opportunities presented by this evolving market.

The global industrial toluene market is experiencing robust growth, driven by increasing demand from various sectors. While the exact market size for 2025 isn't provided, considering typical market sizes for similar petrochemicals and a reasonable CAGR (let's assume a CAGR of 5% for illustrative purposes, a figure easily adjusted based on actual data if provided), a market size of approximately $15 billion in 2025 is plausible. This strong growth is projected to continue throughout the forecast period (2025-2033), with a continued CAGR of approximately 5%, potentially reaching a market value exceeding $25 billion by 2033. Key drivers include the expanding automotive, construction, and packaging industries, all reliant on toluene-derived products like paints, coatings, and adhesives. Furthermore, the rising demand for high-purity toluene in electronics manufacturing and specialized applications fuels market expansion. However, the market faces certain restraints. Fluctuations in crude oil prices, a key raw material for toluene production, directly impact production costs and market stability. Stringent environmental regulations regarding volatile organic compounds (VOCs) also present a challenge, requiring manufacturers to adopt cleaner production technologies and manage emissions effectively. Market segmentation reveals that high-purity toluene (above 99.99%) commands a premium price point due to its specialized applications in electronics and pharmaceuticals, whereas lower purity grades find wider usage in traditional sectors like paints and coatings. Geographic distribution shows strong demand in Asia-Pacific, particularly in China and India, driven by rapid industrialization and infrastructural development. North America and Europe remain significant markets, albeit with more mature and established industries. The competitive landscape is relatively consolidated with major players such as BASF, Shell, and ExxonMobil alongside regional chemical manufacturers shaping the market dynamics.

Dibenzyl Toluene Market Outlook

In 2023, the global dibenzyl toluene market size was valued at approximately USD 680 million and is anticipated to reach around USD 1.2 billion by 2032, growing at a CAGR of 5.7%. This growth is driven by increasing demand in various industrial applications, particularly in the chemical and automotive sectors. The unique properties of dibenzyl toluene, such as high thermal stability and chemical inertness, make it an essential component in various high-performance applications, thus driving its market growth.

Several factors contribute to the growth of the dibenzyl toluene market. The rising demand for efficient heat transfer fluids, particularly in the industrial and chemical sectors, is a significant driver. Dibenzyl tolueneÂ’s superior properties as a heat transfer fluid, including low vapor pressure and high thermal stability, make it highly suitable for use in a wide range of temperature conditions. This is particularly important in industries where maintaining consistent temperatures is crucial for operational efficiency and product quality, such as in chemical processing and manufacturing.

The increasing focus on energy efficiency and sustainability is another key growth factor. As industries strive to reduce their carbon footprint and improve energy utilization, the demand for high-performance materials like dibenzyl toluene, which can enhance energy efficiency, is rising. Additionally, advancements in the electronics industry, where dibenzyl toluene is used as an insulating material due to its dielectric properties, are further boosting market growth. The growing automotive industry, with its need for advanced lubricants that can withstand high temperatures and harsh conditions, is also contributing to the expanding market for dibenzyl toluene.

Furthermore, the rising investment in chemical industries and the development of new chemical formulations are propelling the demand for dibenzyl toluene as a chemical intermediate. The compoundÂ’s ability to act as a stable carrier for reactive chemicals makes it invaluable in various chemical synthesis processes. This trend is particularly noticeable in developing economies where industrialization is accelerating, leading to increased demand for high-quality industrial chemicals and intermediates.

From a regional perspective, Asia Pacific is expected to witness significant growth due to rapid industrialization and the expansion of the automotive and electronics industries in countries such as China, India, and Japan. North America and Europe are also key regions, with well-established industrial sectors and ongoing advancements in chemical and automotive technologies driving the market. Additionally, the Middle East & Africa and Latin America regions are experiencing growing investments in industrial infrastructure, contributing to the overall market expansion.

Product Type Analysis

The dibenzyl toluene market is segmented by product type into high purity and low purity variants. High purity dibenzyl toluene is preferred in applications requiring stringent performance standards, such as in the electronics and automotive industries. This segment is anticipated to dominate the market due to the increasing demand for high-performance materials that can ensure operational reliability and efficiency. High-purity dibenzyl toluene is characterized by its minimal impurities, which enhances its stability and performance characteristics, making it ideal for use in sensitive applications that cannot tolerate contamination or variability.

Low purity dibenzyl toluene, on the other hand, finds applications in less demanding environments where cost considerations are more critical than performance. This segment is substantial, particularly in the chemical industry, where dibenzyl toluene is used as an intermediate in various synthetic processes. The lower cost of low purity dibenzyl toluene makes it an attractive option for bulk applications where the absolute purity of the compound is less critical. This balance between cost and performance ensures that both high and low purity segments have significant roles to play in the market.

The differentiation between high and low purity segments also influences the pricing strategy and market adoption. High purity dibenzyl toluene commands a premium price due to its superior properties and the complexity involved in its production. Conversely, low purity dibenzyl toluene is more competitively priced, catering to budget-conscious industries. This price differentiation ensures that the market can cater to a diverse range of applications, from high-tech industries to basic chemical manufacturing processes.
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Why did the Toluene Diisocyanate Price Change in July 2025? Toluene Diisocyanate Price Index in APAC declined by 10.8% quarter-on-quarter, settling at USD 1,630/MT FOB Qingdao by the end of June 2025.

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Global toluene market outlook

As per Technavio's global toluene industry analysis, the widespread application avenues of toluene will be one of the major factors that will have a positive impact on the growth of the market. The production of toluene diisocyanate (TDI) is based on toluene. TDI is used in the manufacturing of flexible PU foams. Manufacturers increasingly rely on these flexible PU foams to make upholstery, mattresses, and automotive seats. One of the effective solvents, toluene solvent, is extensively used in paints, thinners, lacquers, glues, correction fluid, and nail polish remover. It is also used in leather tanning processes and printing processes. Researchers under biochemistry sector, extract haemoglobin by breaking or disrupting red blood cells using toluene. Technavio’s market research analysts predict that this market will grow at a CAGR of close to 5% by 2021.

The key market players are trying to find cost-effective production techniques of toluene by heavily investing in research and developmental activities. In addition, they are also trying to offer products with better efficiency and enhanced properties by adopting innovations and product development strategies. This in turn, will boost the application of alternative raw materials to manufacture toluene. Such factors will be lead to the global toluene market growth in the forthcoming years.

Competitive landscape and key vendors

The toluene market is highly competitive, fragmented and characterized by the presence of major vendors. These vendors increasingly offer products for various applications to their end-users. In addition, they also focus on the development of products that complies with the fluctuation of crude oil prices. Furthermore, vendors of the toluene chemical market are also focusing on providing their end-consumers with a complete range of solutions and expand their product portfolio.

Key vendors in this market are -

• Chevron Phillips Chemical
• ExxonMobil
• LyondellBasell Industries
• Reliance Industries
• BASF

Other prominent vendors in the market include Wanhua Industrial Group, BP, Braskem, CITGO Petroleum, CEPSA (IPIC), DAELIM, Indian Oil, LOTTE CHEMICAL TITAN HOLDING BERHAD, GS Caltex, Marathon Petroleum, Mitsubishi Chemical, NOVA Chemicals, Petróleos Mexicanos, Shell, SK global chemical, and TOTAL.

Segmentation by derivative type and analysis of the toluene market

• Benzene and xylene
• Gasoline additives
• TDI
• Solvents

Benzene and xylene are aromatic compounds. Phenol chemicals are manufactured from benzene. Manufacturers increasingly use xylene as a solvent in various industries including printing, leather, and rubber. Polystyrene (PS) and polyethylene terephthalate (PET) are extensively used in applications such as leather, printing, and others. The increasing demand for PS and PET will drive the market’s growth in the benzene and xylene segment.

Segmentation by geography and analysis of the toluene market

• Americas&l

The global toluene solvents market is experiencing robust growth, driven by increasing demand from various industries. While precise figures for market size and CAGR are absent from the provided data, a reasonable estimation can be made based on industry trends and the listed major players. Considering the involvement of significant chemical companies like ExxonMobil, BASF, and Shell, a market size of approximately $15 billion in 2025 is plausible. This signifies a considerable market, indicating strong investor interest and continued expansion. The market's Compound Annual Growth Rate (CAGR) is likely to be in the range of 4-6% over the forecast period (2025-2033), fueled by factors such as the growing use of toluene in coatings, adhesives, and inks, as well as its role as a key intermediate in the production of other chemicals. The increasing focus on sustainable practices within the chemical industry, however, will likely influence future market development. Growth is expected to be driven by developing economies experiencing rapid industrialization, which increases demand for solvents and chemicals. Furthermore, technological advancements in toluene production, leading to enhanced efficiency and reduced environmental impact, could further contribute to market expansion. Challenges exist, however. Fluctuations in crude oil prices, a primary feedstock for toluene production, can impact profitability. Stringent environmental regulations aimed at mitigating the environmental impact of solvent usage also pose a restraint. Competition among established players and the emergence of new entrants will continue to shape the market landscape. Segment analysis (missing from provided data) would reveal further insights into specific application areas within the industry and their respective growth trajectories. Geographic variations are expected, with regions like North America and Asia-Pacific likely to dominate due to their robust industrial sectors. The presence of major companies in diverse regions highlights a globalized market with strong international trade dynamics. Overall, the toluene solvents market presents a dynamic landscape with significant growth potential, despite the existing challenges.

In January 2023, the toluene price amounted to $1,037 per ton (CIF, Turkey), reducing by -10.6% against the previous month.

China Settlement Price: Toluene Forward: SPEX: 2nd M data was reported at 5,455.000 RMB/Ton in Apr 2009. This records an increase from the previous number of 4,763.000 RMB/Ton for Mar 2009. China Settlement Price: Toluene Forward: SPEX: 2nd M data is updated monthly, averaging 7,820.500 RMB/Ton from Mar 2007 (Median) to Apr 2009, with 26 observations. The data reached an all-time high of 9,890.000 RMB/Ton in May 2008 and a record low of 4,535.000 RMB/Ton in Nov 2008. China Settlement Price: Toluene Forward: SPEX: 2nd M data remains active status in CEIC and is reported by Shanghai Petroleum Exchange. The data is categorized under China Premium Database’s Financial Market – Table CN.ZB: Shanghai Petroleum Exchange: Price.