Solvents - Toluene: Market Size & Forecast 2026

The global toluene market sits at approximately USD 29.5 billion in 2025 (base year), navigating a structural oversupply inflection as approximately 963,000 MT of new Chinese capacity started up in 2025 and a further 523,000 MT is scheduled for 2026. Spot prices on the US Gulf have softened to a USD 740-890/MT band in late 2025 from a peak above USD 1,030/MT in early 2024, creating a procurement window that buyers who missed the 2024 peak should be exploiting in the first half of 2026. Demand growth is anchored to Asia-Pacific coatings and adhesive expansion at roughly 5-6% per year, while North American and European markets post mature 2-4% CAGRs. Toluene pricing correlates to Brent crude and naphtha at 0.85-0.92; the feedstock pass-through lag averages 4-8 weeks. The dominant near-term event is the Chinese capacity wave reshaping global trade flows and compressing the landed-cost advan

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