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China and India are the leading exporters of 4-Iodophenyl Isocyanate, accounting for the majority of global shipments, while the United States, Germany, and Japan represent the largest importing markets. These countries dominate both supply and demand, reflecting established pharmaceutical and specialty chemical supply chains. Trade volumes have remained relatively stable over the past two years, with modest quarterly fluctuations in 4-Iodophenyl Isocyanate prices correlating closely with raw material costs and regional regulatory activity.
Aggregated MDI: Recent Commodity Market Intelligence, Analysis, and Forecast
I. Market Intelligence
Price Trends
- Recent Price: As of July 28, 2026, the reference price for aggregated MDI stands at RMB 17,866.67 per ton, representing a 10.29% increase from RMB 16,200.00 per ton on July 1, 2026.
- Price Volatility: Prices exhibited a volatile upward trend throughout July—rising gradually from RMB 16,200/ton on July 1 to RMB 17,866.67/ton on July 28—with the highest price recorded on July 28 and the lowest on July 1.
- Enterprise Quotations: A major Shanghai-based manufacturer quoted RMB 22,000/ton for aggregated MDI to distributors (and RMB 22,200/ton for firm-offer pricing) on July 27, up RMB 400/ton week-on-week; on July 20, the quoted price was RMB 21,600/ton (RMB 21,800/ton firm-offer), up RMB 500/ton week-on-week; and on July 17, it was RMB 21,100/ton (RMB 21,300/ton firm-offer), up RMB 400/ton week-on-week.
Supply Situation
- Plant Maintenance: Wanhua Chemical’s integrated facility in BorsodChem (Hungary)—including TDI (250,000 tons/year) and MDI (400,000 tons/year) units plus associated ancillary systems—commenced scheduled maintenance on July 17, 2026, with an estimated duration of approximately 35 days. Additionally, a 80,000-tons/year MDI rectification unit in Ruian entered maintenance on July 28, 2026, with an anticipated downtime of about one month.
- Force Majeure Events: Dow Chemical’s Middle East MDI facility—capacity of 400,000 tons/year—has declared force majeure, with an expected shutdown period of 2–3 months, resulting in substantial supply disruption.
Demand Situation
- Downstream Applications:
- Refrigerators & Freezers: The largest application segment for aggregated MDI, accounting for ~50% of total demand. Domestic refrigerator production reached 16 million units in January–February 2026, up 6.5% year-on-year; exports totaled 15 million units, up 18% year-on-year—indicating clear market recovery.
- Automotive: Domestic automobile production amounted to 4.12 million units in January–February 2026, down 9.5% year-on-year; however, exports surged over 60% year-on-year. Long-term, growing adoption of new-energy vehicles (NEVs) both domestically and overseas—fueled by rising global crude oil prices increasing fuel costs—will likely sustain robust NEV procurement demand abroad.
- Other Sectors: Furniture demand correlates closely with real estate activity; exports in this sector totaled RMB 90 billion in January–February 2026, up 22% year-on-year. Demand for cold storage facilities and formaldehyde-free engineered wood is projected to grow ~10% in 2026. In wind turbine blades, MDI’s functional advantages over conventional plastics offer promising growth potential.
Cost Structure
- Raw Material Costs: Crude oil prices have surged significantly; natural gas and pure benzene prices have also risen, collectively elevating global MDI production costs. Since March 2026, European MDI suppliers have imposed a natural gas surcharge of EUR 200/ton—equivalent to approximately RMB 1,500–1,600/ton—exerting notable cost pressure on MDI production.
Imports & Exports
- Exports: Historically, China’s annual MDI export volume averages 1 million tons, peaking at 1.2 million tons during high-demand periods. Impacted by multiple rounds of tariffs and U.S. anti-dumping measures in 2025, exports declined sharply to only 800,000 tons—significantly below historical norms. For 2026, MDI export growth is a key focus area, with volumes expected to rebound substantially.
- Imports: In the U.S., production losses caused by the February cold snap have largely been restored; domestic feedstock and natural gas costs remain relatively stable, supporting steady operations. However, supply-demand imbalances persist. With reduced Chinese imports and limited alternative supply from Europe, the U.S. may consider easing import restrictions or expanding domestic capacity.
II. Analysis & Assessment
Drivers of Price Increases
- Supply Tightness: Force majeure events (Middle East), extended maintenance at Japanese and Korean plants, and Wanhua’s Hungarian facility shutdown have collectively constrained global MDI supply.
- Rising Input Costs: Higher crude oil, natural gas, and pure benzene prices have driven up MDI manufacturing costs.
- Demand Recovery: Reviving demand from refrigerators/freezers and automotive sectors has bolstered MDI consumption.
Price Transmission Dynamics
- Upstream-to-Midstream Transmission: Price hikes from upstream producers to midstream converters have been smooth, with midstream players issuing price-increase notices of 30–40%.
- Midstream-to-End-User Transmission: End-user price adjustments are expected to commence gradually starting April 2026, with full pass-through to consumers requiring more than one month. At current aggregated MDI prices around RMB 20,000/ton, transmission proceeds smoothly; however, if prices further rise to RMB 23,000/ton or even RMB 25,000/ton, transmission will encounter mounting resistance.
III. Outlook
Short-Term Price Trend
- Uptrend Continuation: This MDI price rally is fundamentally driven by overseas supply shortages and force majeure events; the upward momentum is expected to persist for at least three months.
- Price Peak: As downstream price transmission gains traction, market prices will gradually converge toward posted list prices. Current MDI prices exceeding RMB 20,000/ton represent a relatively high level over the past five years—approaching the RMB 20,000/ton peak observed in 2022—and may trend toward the higher levels seen in 2021.
Long-Term Supply-Demand Outlook
- Supply Side: Supply constraints are expected to ease gradually following completion of maintenance turnarounds and commissioning of newly added capacity.
- Demand Side: Continued growth in downstream demand—particularly from refrigerators/freezers and the automotive sector—will support sustained MDI demand expansion.
- Price Trajectory: Over the long term, MDI pricing will be shaped by evolving supply-demand dynamics, input cost fluctuations, and shifts in international trade policies—exhibiting an overall trend of volatile but upward movement.
4-Iodophenyl isocyanate is a white to off-white crystalline solid at room temperature, with a characteristic pungent odor and moderate volatility; it decomposes before boiling and has a melting point typically reported between 60–63 °C. It is an aromatic organic compound classified as an aryl isocyanate and functions primarily as a specialty chemical intermediate. Its principal use is in the synthesis of ureas, carbamates, and polyurethane derivatives via reaction with amines or alcohols. It serves as a key building block in pharmaceutical research—particularly for iodinated bioactive molecules—and in the development of functionalized polymers and advanced materials for electronics and imaging applications.
This chemical is included in Basic Chemicals - Polyurethanes. See more about what is 4-Iodophenyl Isocyanate and 4-Iodophenyl Isocyanate SDS information.
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