Feb 22, 2026
IndexBox has just published a new report: U.S. – Toluene – Market Analysis, Forecast, Size, Trends And Insights.
The US toluene market is forecast to grow from a 2024 volume of 1.9M tons to 2.7M tons by 2035, at a CAGR of +2.9%, with market value projected to reach $3.5B at a +4.5% CAGR. In 2024, domestic production rose 13% to 1M tons, but remains below peak levels, while imports fell -9.8% to 1M tons, primarily from South Korea. Exports declined -4.5% to 85K tons, mainly to Mexico. The market value contracted to $2.2B in 2024, with import prices averaging $445/ton and export prices at $1,204/ton.
Key Findings
Market volume is forecast to grow at a +2.9% CAGR to 2.7M tons by 2035, with value projected at $3.5B (+4.5% CAGR)2024 consumption was stable at 1.9M tons, but market value contracted -5.4% to $2.2BDomestic production increased 13% to 1M tons in 2024, ending a five-year declineImports fell -9.8% to 1M tons, with South Korea supplying 53% of total import volumeExports declined -4.5% to 85K tons, with Mexico as the primary destination (81% share)Market Forecast
Driven by increasing demand for toluene in the United States, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.9% for the period from 2024 to 2035, which is projected to bring the market volume to 2.7M tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +4.5% for the period from 2024 to 2035, which is projected to bring the market value to $3.5B (in nominal wholesale prices) by the end of 2035.
ConsumptionUnited States’s Consumption of Toluene
Toluene consumption in the United States totaled 1.9M tons in 2024, approximately equating the previous year’s figure. Overall, consumption saw slight growth. The growth pace was the most rapid in 2023 with an increase of 2.2% against the previous year. Toluene consumption peaked in 2024 and is likely to see gradual growth in the near future.
The value of the toluene market in the United States contracted to $2.2B in 2024, declining by -5.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). In general, consumption recorded a relatively flat trend pattern. Toluene consumption peaked at $2.8B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.
ProductionUnited States’s Production of Toluene
In 2024, production of toluene increased by 13% to 1M tons for the first time since 2018, thus ending a five-year declining trend. In general, production, however, showed a pronounced decrease. The pace of growth appeared the most rapid in 2018 with an increase of 28% against the previous year. As a result, production reached the peak volume of 2.3M tons. From 2019 to 2024, production growth failed to regain momentum.
In value terms, toluene production expanded to $1.1B in 2024. Over the period under review, production, however, saw a pronounced decrease. The most prominent rate of growth was recorded in 2018 with an increase of 44%. Over the period under review, production reached the peak level at $2.1B in 2022; however, from 2023 to 2024, production remained at a lower figure.
ImportsUnited States’s Imports of Toluene
In 2024, overseas purchases of toluene decreased by -9.8% to 1M tons for the first time since 2019, thus ending a four-year rising trend. Overall, imports, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2023 with an increase of 57%. As a result, imports reached the peak of 1.1M tons, and then shrank in the following year.
In value terms, toluene imports fell to $454M in 2024. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 with an increase of 72%. Over the period under review, imports attained the maximum at $499M in 2023, and then declined in the following year.
Imports By Country
In 2024, South Korea (541K tons) constituted the largest supplier of toluene to the United States, accounting for a 53% share of total imports. Moreover, toluene imports from South Korea exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (237K tons), twofold. The third position in this ranking was taken by Germany (38K tons), with a 3.7% share.
From 2013 to 2024, the average annual rate of growth in terms of volume from South Korea amounted to +21.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+21.9% per year) and Germany (+2.4% per year).
In value terms, South Korea ($245M) constituted the largest supplier of toluene to the United States, comprising 54% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($105M), with a 23% share of total imports. It was followed by Brazil, with a 3.9% share.
From 2013 to 2024, the average annual rate of growth in terms of value from South Korea stood at +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+9.1% per year) and Brazil (-18.7% per year).
Import Prices By Country
The average toluene import price stood at $445 per ton in 2024, remaining relatively unchanged against the previous year. In general, the import price, however, saw a deep downturn. The most prominent rate of growth was recorded in 2022 when the average import price increased by 22% against the previous year. The import price peaked at $1,322 per ton in 2013; however, from 2014 to 2024, import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In 2024, amid the top importers, the countries with the highest prices were Brazil ($471 per ton) and Canada ($459 per ton), while the price for Argentina ($364 per ton) and Italy ($371 per ton) were amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Brazil (-9.0%), while the prices for the other major suppliers experienced a decline.
ExportsUnited States’s Exports of Toluene
In 2024, after three years of growth, there was decline in overseas shipments of toluene, when their volume decreased by -4.5% to 85K tons. In general, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2018 when exports increased by 159% against the previous year. As a result, the exports attained the peak of 814K tons. From 2019 to 2024, the growth of the exports failed to regain momentum.
In value terms, toluene exports declined rapidly to $102M in 2024. Over the period under review, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 247% against the previous year. As a result, the exports reached the peak of $570M. From 2019 to 2024, the growth of the exports remained at a lower figure.
Exports By Country
Mexico (69K tons) was the main destination for toluene exports from the United States, accounting for a 81% share of total exports. Moreover, toluene exports to Mexico exceeded the volume sent to the second major destination, Guatemala (7.4K tons), ninefold. The third position in this ranking was taken by the Dominican Republic (3.8K tons), with a 4.5% share.
From 2013 to 2024, the average annual rate of growth in terms of volume to Mexico totaled +16.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+3.2% per year) and the Dominican Republic (+3.1% per year).
In value terms, Mexico ($81M) remains the key foreign market for toluene exports from the United States, comprising 79% of total exports. The second position in the ranking was held by Guatemala ($9.4M), with a 9.2% share of total exports. It was followed by the Dominican Republic, with a 4.6% share.
From 2013 to 2024, the average annual rate of growth in terms of value to Mexico stood at +15.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+3.0% per year) and the Dominican Republic (+2.6% per year).
Export Prices By Country
In 2024, the average toluene export price amounted to $1,204 per ton, dropping by -12.4% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 92%. The export price peaked at $2,191 per ton in 2022; however, from 2023 to 2024, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major foreign markets. In 2024, amid the top suppliers, the countries with the highest prices were China ($1,473 per ton) and Costa Rica ($1,303 per ton), while the average price for exports to Mexico ($1,181 per ton) and the Dominican Republic ($1,222 per ton) were amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to China (+1.2%), while the prices for the other major destinations experienced mixed trend patterns.
Source: IndexBox Market Intelligence Platform
This report provides a comprehensive view of the toluene industry in the United States, tracking demand, supply, and trade flows across the national value chain. It explains how demand across key channels and end-use segments shapes consumption patterns, while also mapping the role of input availability, production efficiency, and regulatory standards on supply.
Beyond headline metrics, the study benchmarks prices, margins, and trade routes so you can see where value is created and how it moves between domestic suppliers and international partners. The analysis is designed to support strategic planning, market entry, portfolio prioritization, and risk management in the toluene landscape in the United States.
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Key findings
Domestic demand is shaped by both household and industrial usage, with trade flows linking local supply to imports and exports.
Pricing dynamics reflect unit values, freight costs, exchange rates, and regulatory shifts that affect sourcing decisions.
Supply depends on input availability and production efficiency, creating a distinct national cost curve.
Market concentration varies by segment, creating different competitive landscapes and entry barriers.
The 2035 outlook highlights where capacity investment and demand growth are most aligned within the country.
Report scope
The report combines market sizing with trade intelligence and price analytics for the United States. It covers both historical performance and the forward outlook to 2035, allowing you to compare cycles, structural shifts, and policy impacts.
Market size and growth in value and volume terms
Consumption structure by end-use segments
Production capacity, output, and cost dynamics
Trade flows, exporters, importers, and balances
Price benchmarks, unit values, and margin signals
Competitive context and market entry conditions
Product coverageProdcom 20141225 – TolueneCountry coverageCountry profile and benchmarks
This report provides a consistent view of market size, trade balance, prices, and per-capita indicators for the United States. The profile highlights demand structure and trade position, enabling benchmarking against regional and global peers.
Methodology
The analysis is built on a multi-source framework that combines official statistics, trade records, company disclosures, and expert validation. Data are standardized, reconciled, and cross-checked to ensure consistency across time series.
International trade data (exports, imports, and mirror statistics)
National production and consumption statistics
Company-level information from financial filings and public releases
Price series and unit value benchmarks
Analyst review, outlier checks, and time-series validation
All data are normalized to a common product definition and mapped to a consistent set of codes. This ensures that comparisons across time are aligned and actionable.
Forecasts to 2035
The forecast horizon extends to 2035 and is based on a structured model that links toluene demand and supply to macroeconomic indicators, trade patterns, and sector-specific drivers. The model captures both cyclical and structural factors and reflects known policy and technology shifts in the United States.
Historical baseline: 2012-2025
Forecast horizon: 2026-2035
Scenario-based sensitivity to income growth, substitution, and regulation
Capacity and investment outlook for major producing companies
Each projection is built from national historical patterns and the broader regional context, allowing the report to show where growth is concentrated and where risks are elevated.
Price analysis and trade dynamics
Prices are analyzed in detail, including export and import unit values, regional spreads, and changes in trade costs. The report highlights how seasonality, freight rates, exchange rates, and supply disruptions influence pricing and margins.
Price benchmarks by country and sub-region
Export and import unit value trends
Seasonality and calendar effects in trade flows
Price outlook to 2035 under baseline assumptions
Profiles of market participants
Key producers, exporters, and distributors are profiled with a focus on their operational scale, geographic footprint, product mix, and market positioning. This helps identify competitive pressure points, partnership opportunities, and routes to differentiation.
Business focus and production capabilities
Geographic reach and distribution networks
Cost structure and pricing strategy indicators
Compliance, certification, and sustainability context
How to use this report
Quantify domestic demand and identify the most attractive segments
Evaluate export opportunities and prioritize target destinations
Track price dynamics and protect margins
Benchmark performance against leading competitors
Build evidence-based forecasts for investment decisions
This report is designed for manufacturers, distributors, importers, wholesalers, investors, and advisors who need a clear, data-driven picture of toluene dynamics in the United States.
FAQ
What is included in the toluene market in the United States?
The market size aggregates consumption and trade data, presented in both value and volume terms.
How are the forecasts to 2035 built?
The projections combine historical trends with macroeconomic indicators, trade dynamics, and sector-specific drivers.
Does the report cover prices and margins?
Yes, it includes export and import unit values, regional spreads, and a pricing outlook to 2035.
Which benchmarks are included?
The report benchmarks market size, trade balance, prices, and per-capita indicators for the United States.
Can this report support market entry decisions?
Yes, it highlights demand hotspots, trade routes, pricing trends, and competitive context.