Global Polyurethane Market Trends in 2026

The Strait of Hormuz, the only maritime gateway to the Persian Gulf, controls the flow of nearly 20% of global oil shipments and serves regions holding around 60% of the world's proven oil reserves. Since its closure on 28 February, global energy and chemical markets have faced significant disruption, with Asia being particularly affected due to its heavy dependence on Middle Eastern energy supplies.

The blockage sharply reduced the availability of crude oil, methanol, and other critical feedstocks, driving up international oil prices and increasing costs for key polyurethane raw materials such as benzene and toluene. At the same time, shortages of imported petrochemical feedstocks forced many Asian producers to reduce operating rates, pushing MDI, TDI, and Polyether Polyol prices higher in March.

However, rising raw material costs could not be fully transferred to downstream customers. From late April to June, polyurethane prices retreated from earlier highs. The resulting market volatility created major challenges for procurement planning, cost control, and supply chain stability across the industry. The polyurethane value chain faced a combination of rising costs, constrained supply, and weakened downstream demand.

During this period, Nhcoo Technology maintained a stable supply of polyurethane products and polymeric MDI, helping customers reduce supply chain risks and ensure production continuity.