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Toluene Price Trend Analysis 2026: Latest News, Historical Prices, Price Drivers, Market Insights & Supply Demand Analysis
Written ByShriya Singh
Toluene Latest Development
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Toluene Price Trend Q3 2026
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Toluene | China | FOB | USD 1,018.72/MT | August 2026 |
| Toluene | India | CIF | USD 1,109.51/MT | August 2026 |
| Toluene | USA | CIF | USD 1,450.89/MT | August 2026 |
| Toluene | Brazil | CIF | USD 1,161.15/MT | August 2026 |
| Toluene | Canada | CIF | USD 1,189.34/MT | August 2026 |
| Toluene | China | FOB | USD 928.93/MT | July 2026 |
| Toluene | India | CIF | USD 1,035.74/MT | July 2026 |
| Toluene | USA | CIF | USD 1,422.44/MT | July 2026 |
| Toluene | Brazil | CIF | USD 1,100.54/MT | July 2026 |
| Toluene | Canada | CIF | USD 1,131.42/MT | July 2026 |
Stay updated with the latest Toluene prices, historical data, and tailored regional analysis
Toluene Price Trend Q3 2026
- Toluene prices climbed in Q3 2026, moving higher with crude oil, gasoline and other aromatics as Middle East tensions tightened energy and petrochemical markets.
- Crude oil and naphtha costs rose as shipping disruptions cut Gulf output, raising feedstock costs for reformers and lifting values across the aromatics chain.
- Strong summer gasoline blending absorbed toluene as an octane booster, while solvent and chemical users bought steadily despite weaker margins in parts of Asia.
Asia
In China, the average price of Toluene rose from ~USD 928.93/MT (FOB) in July to ~USD 1,018.72/MT in August, an increase of ~9.7%. India followed with a gain of about 7.1%, from ~USD 1,035.74/MT (CIF) to ~USD 1,109.51/MT. Asian aromatics rallied in July after US strikes on Iran and attacks on shipping in Hormuz, while low Chinese benzene inventories supported the wider toluene–benzene complex. Gulf oil output shut in by the disruption reached 6.7 million b/d in August, keeping crude and naphtha costs high. By late August, signals were mixed as import supply into China improved, and SK Innovation reported weaker aromatics profitability and adjusted operating rates.
Europe
Europe remained the highest-priced toluene market during the quarter, as higher crude costs and tight aromatics supply supported values in August. The August benzene contract also rose on tighter supply. However, the forward market pointed lower for later months, and better benzene availability led to a substantial discount in the September contract, signalling easing aromatics costs toward quarter-end.
North America
In the USA, average toluene import prices increased from nearly USD 1,422.44/MT (CIF) in July to roughly USD 1,450.89/MT in August, up ~2.0%. Canada saw a larger rise of about 5.1%, from ~USD 1,131.42/MT (CIF) to ~USD 1,189.34/MT. Strong summer gasoline blending pulled aromatics into the fuel pool, supporting toluene’s value as an octane blendstock. US gasoline imports since March ran 32% below the five-year average, and tariffs and scarce vessels also limited aromatics imports, keeping the regional market firm.
Analyst Insight
According to Procurement Resource, toluene could cool somewhat as the summer driving season ends and European aromatics supply improves, though high crude costs are likely to prevent a steep fall.
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- Global toluene prices declined in Q2’26 as weaker crude-linked feedstock costs and sufficient refinery supply pressured markets.
- Feedstock conditions softened with lower crude oil and naphtha values, reducing production-cost support for aromatics producers.
- Downstream demand remained cautious, with weak solvent, coating and chemical applications limiting purchasing activity.
Asia
Toluene prices in China declined to ~RMB 7.20/kg and ~RMB 6.79/kg, respectively, in the first two months of Q2'26, showing a ~5.7% decrease. The market faced downward pressure due to lower crude oil values, stable refinery operations, high port inventories and sufficient merchant supply. Chinese crude prices declined as imported cargoes continued arriving and downstream buyers purchased only for immediate requirements. Demand from styrene, phenol, caprolactam, paint solvents and TDI applications remained weak, limiting inventory reduction. Lower paraxylene prices also reduced demand for toluene conversion through related processing units. In India, toluene prices declined to ~INR 104.86/kg in April and ~INR 101.75/kg in May, showing a ~3.0% decrease, following weaker regional feedstock support and softer Asian market conditions.
Europe
European toluene prices remained volatile during Q2’26 as lower crude-linked costs were balanced by supply disruptions. Falling North Sea crude values reduced feedstock support for aromatics producers, but the explosion at MOL’s 380,000-MT/year Olefin-1 cracker in Hungary tightened prompt availability in Central Europe. The disruption reduced local toluene production and increased reliance on alternative supply sources. Downstream demand remained weak due to lower construction activity, affecting solvent-based coatings, adhesives and related applications. Industrial coatings and infrastructure-related demand provided limited support, but overall consumption remained cautious.
North America
Toluene prices in the United States declined to ~USD 1,142.02/MT in April and ~USD 1,122.89/MT in the following month, showing a ~1.7% decrease. The market remained supported by gasoline blending demand during the quarter, which increased the value of aromatics in fuel applications. Higher refinery utilisation improved aromatics availability and prevented significant supply tightness. Industrial demand provided moderate support, with growth in construction supplies and automotive production supporting coatings, adhesives and chemical applications. However, moderate manufacturing activity limited stronger demand growth, keeping prices relatively stable.
Analyst Insight
According to Procurement Resource, toluene prices are expected to remain influenced by crude oil movements, refinery operations and gasoline blending demand, while weak industrial consumption may restrict upward movement.
About Toluene
Toluene is an aromatic hydrocarbon. In appearance, it is a colourless, water-insoluble liquid with the smell associated with paint thinners. It is a mono-substituted benzene derivative composed of a CH3 group attached to a phenyl group.
Toluene Product Detail
Chemical Formula
C6H5CH3 or C7H8
Molecular Weight
92.14 g/mol
Industrial Uses
Solvent, Fuel, Precursor (benzene and xylene), Paints, Lacquers, Thinners, Glues, Correction Fluid, Nail Polish Remover
Synonyms
108-88-3, Methylbenzene, Toluol, Phenylmethane, Anisen
Supplier Database
Shell Chemicals, Reliance Industries Limited, China National Petroleum Corporation, Exxon Mobil Corporation, Valero Marketing and Supply Company
Regional Coverage
Asia Pacific
China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe
Germany, France, United Kingdom, Italy,Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America
United States and Canada
Latin America
Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa
South Africa, Nigeria, Egypt, Algeria, Morocco
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Toluene Production Process
- Production of Toluene via Solvent Extraction Process
Reformates of crude petroleum distillates; liquid products from the pyrolysis of hydrocarbons (steam cracking) and other liquid products from the gasification or coking (pyrolysis) of coal, lignite, etc. are generally utilised while producing Toluene. Final separation of Toluene from these mixtures and purification is done by any of the distillation or solvent extraction methods utilised for BTX aromatics (benzene, toluene, and xylene isomers).
Frequently Asked Questions
Toluene prices showed a strong upward trend in Q1 2026. In India, prices increased by around 21.06% from January to March, while China witnessed a sharper 39.85% increase during the same period. The rise was supported by crude-linked cost pressure, tighter aromatic availability, stronger downstream solvent demand, and higher logistics costs.
Toluene prices increased on a quarter-on-quarter basis in India and China. In India, previous quarter prices averaged USD 847.00/MT, while Q1 2026 prices averaged USD 863.13/MT, showing a 1.90% increase. In China, prices rose from USD 738.94/MT to USD 866.06/MT, reflecting a stronger 17.20% increase.
Toluene demand is expected to remain supported by solvents, paints and coatings, adhesives, pharmaceuticals, fuel blending, benzene, xylene, and TDI value chains in 2026. However, price movement may stay volatile due to crude oil swings, refinery operating rates, aromatics supply, and trade flow changes. Asia-origin supply is expected to remain important in global toluene trade.
Toluene prices in Q1 2026 were influenced by higher crude-linked feedstock costs, tighter aromatics availability, and supportive downstream demand. Geopolitical tensions around the Strait of Hormuz further increased crude oil prices, freight rates, and insurance premiums, raising both production costs and landed values across Asian toluene markets.
China, South Korea, Japan, India, the United States, Saudi Arabia, Singapore, and several European countries are major participants in the global toluene market. Asia remains the largest production and trading hub due to its extensive refining, aromatics extraction, and petrochemical infrastructure, while the United States and Middle East benefit from highly integrated refinery and chemical operations.
In January 2026, Unigel suspended operations at its styrene and toluene plant in Cubatão, São Paulo. The shutdown reduced Brazilian aromatic availability and reflected pressure from weak chemical margins. This type of plant closure can tighten regional toluene supply and increase dependence on imports when downstream solvent or blending demand improves.
In Q1 2026, higher crude oil and naphtha costs directly raised toluene production costs because toluene is produced from reformate and pyrolysis gasoline streams. Geopolitical tension around the Strait of Hormuz lifted crude-linked feedstock values, freight rates, and insurance costs, which pushed up landed costs and supported higher toluene prices in India and China.
In Q1 2026, downstream demand from solvents, coatings, adhesives, gasoline blending, and TDI remained uneven but supportive. Gasoline blending demand strengthened aromatic consumption, while coatings and polyurethane demand provided steady offtake. This helped absorb tighter spot supply and supported toluene price increases, especially when feedstock and logistics costs were already rising.
Downstream demand from solvents, coatings, adhesives, gasoline blending, benzene production, and TDI manufacturing supported toluene consumption during Q1 2026. Stronger blending demand improved aromatic utilization, while steady polyurethane and coatings demand helped absorb tighter spot supply and reinforced upward pricing momentum.
Toluene availability in Q1 2026 was influenced by shifting Asian trade flows and regional price differentials. Stronger export opportunities and higher freight costs encouraged suppliers to optimize cargo allocation between domestic and overseas markets. This reduced spot availability in some importing regions and supported firmer pricing across Asia.
Procurement Resource employs a structured methodology combining primary research, secondary market data, analytical models, and validation processes to assess toluene prices and trends. Price evaluations incorporate supply-demand dynamics, feedstock movements, trade flows, and value chain analysis, supported by continuous market monitoring to ensure accurate and reliable insights.
Our Price Analysis Methodology
About the Author
Shriya Singh
Business Insights Analyst
Helping procurement and sourcing teams navigate complex markets through data-driven research, category intelligence, and actionable insights - with a focus on identifying market trends, analyzing supply-side developments, and delivering clear intelligence that supports informed business decisions.
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Price Trend Dashboard - What's Included
Price trends across a diverse portfolio of categories and products, spanning board to niche chemicals
Coverage extendable to grade-specific chemicals based on procurement requirements
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Supply–demand dynamics and capacity-driven market analysis
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