Since October 2026, the global TPU industry has experienced a period of intense price increases. Driven by multiple factors-including persistently high international crude oil prices, geopolitical volatility, and rising upstream raw-material costs-several leading materials companies have successively issued price-hike notices, resulting in generally upward price movements for TPU and various elastomeric materials.
I. Leading manufacturers have implemented widespread price hikes, driving broad-based increases across the TPU product line.
On October 8, several leading domestic new-material enterprises issued price-adjustment announcements. Among them, prices for the full range of products-including thermoplastic elastomers (TPV/TPE/TPU), modified plastics, color masterbatches, and biodegradable materials-were raised. The magnitude of the price increases was determined based on the differential in the transmission of raw-material costs, with increases ranging from 1,500 yuan to 3,000 yuan per ton.
Prior to this, TPU raw-material producers had already taken the lead in initiating price adjustments, raising the price of TPU products across all specifications by 1,000 yuan per tonne.
II. Simultaneous price increases in upstream raw materials: global linkage
The fundamental driver of this round of price increases is the rise in the prices of upstream raw materials, MDI and TDI. Since late July, leading domestic and international companies-Honsmann and BASF-have successively updated their quotations for MDI and TDI products: Honsmann has raised prices for all MDI products in Europe, Africa, and the Middle East by €250/tonne; for MDI and TDI products in Southeast Asia, it has raised prices by USD 200/tonne. MDI is the most critical raw material in the polyurethane industry, and its price increases continue to be transmitted downstream to the TPU segment.
III. Reasons for Price Increases and Outlook for the Market
Multiple factors have jointly driven this round of price increases: persistently high international oil prices have raised the cost of petrochemical raw materials; geopolitical tensions in the Middle East have increased the costs of raw materials, transportation, and logistics; the concentrated maintenance of multiple production facilities has led to a contraction in global supply; and, coupled with a recovery in overseas order demand, overall industry sentiment has gradually improved.
Industry insiders believe that, amid cost support and steady growth in demand, the TPU industry continues to recover in terms of market conditions; consequently, procurement costs across the entire industrial chain will rise in the short term. Relevant companies have pledged that, should raw-material prices subsequently decline and cost pressures ease, they will immediately lower their product prices.
IV. Summary
The current round of TPU price increases is the result of the transmission of global raw material cost pressures; short-term procurement costs are expected to rise. We recommend monitoring raw material market trends and planning procurement and quotations accordingly. If you would like to learn about the latest TPU product prices and supply conditions, please feel free to contact us for a quotation.
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