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On July 27, 2026, global chemical company Huntsman officially released a price adjustment notice, uniformly increasing prices for MDI (diphenylmethane diisocyanate) and polyurethane systems products sold across India and the Indian subcontinent by USD 300 per ton, effective immediately. Orders with signed commercial cooperation contracts may continue to execute pricing rules according to the original terms of the contract.
This price increase is an additional adjustment, representing a further hike on top of the regional price increases previously implemented by Huntsman.
The company stated that the core driver to this round of price increases is the sustained tension in the geopolitical situation in the Middle East. Geopolitical conflicts disrupt global energy trade and cross-border freight routes, immediately driving up procurement costs to upstream basic raw materials of MDI. Meanwhile, complete logistics expenses such as international shipping, land freight, warehousing, and transfer have surged significantly. The simultaneous rise in multiple costs is forcing the company to adjust terminal selling prices.
MDI is the most core raw material in the polyurethane sector chain and is broadly applied in numerous manufacturing fields such as building insulation, home appliances, automotive interiors, footwear, cold chains, and furniture. India and adjacent South Asian countries have a massive scale of downstream polyurethane industries and rely heavily on imported MDI to maintain production. As a mainstream global supplier of MDI, Huntsman's price adjustment will be immediately transmitted to the entire polyurethane sector chain in India, leading to a passive increase in raw material procurement costs to downstream companies in foaming, insulation materials, and rubber and plastics processing.
A review of sector dynamics in recent years shows that Middle East geopolitical turmoil has long been a significant trigger to international chemical giants such as Huntsman, BASF, and Dow to adjust overseas MDI prices.
In the past two years, Huntsman has initiated multiple rounds of MDI price increases to markets including India, the Middle East, and Europe. The logic behind these increases has consistently revolved around rising costs to raw materials, energy, and cross-border logistics, with the South Asian market becoming one of the regions most frequently affected by geopolitical cost fluctuations.
Huntsman has currently notified all cooperative customers in the region to implement the new quotations, while prolonged agreement orders will be executed in accordance with contract terms.
sector analysis indicates that if the situation in the Middle East remains tense, international MDI trade costs are unlikely to have room to decline. The polyurethane market in South Asia, including India, might continue to face pressure, and there is a possibility that downstream product prices will follow suit.
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