Between February 26 and 27, eight leading Chinese thermoplastic polyurethane (TPU) producers—including Wanhua Chemical, Huafon Group and Miracll Chemicals—announced simultaneous price increases for their TPU product portfolios. The majority of adjustments ranged from CNY 1,000 to CNY 1,500 per tonne, with select specialty grades experiencing higher increases. This coordinated action represents one of the most synchronized and rapid pricing initiatives observed in the domestic TPU market in recent months, driven by sustained cost inflation and signs of improving downstream demand.

February 26: Initial Wave of Prices Increases 

Wanhua Chemical: Effective March 1, announced a uniform increase of CNY 1,000-1,500/tonne across its domestic TPU portfolio. As the industry leader, Wanhua’s pricing decisions serve as a key benchmark for market expectations. 

Huafon TPU: Implemented a tiered adjustment, raising prices by CNY 1,000-1,500/tonne, with specific increments calibrated to different grades. 

INOV: Effective February 26, applied a uniform increase of CNY 1,000-1,500/tonne across all standard TPU grades. 

Dawn Polymer: Effective February 26, raised prices for its full TPU range by CNY 1,000-1,500/tonne. 

Lead New Material: Effective February 26, increased prices across its entire TPU portfolio by CNY 600-1,000/tonne, a comparatively moderate adjustment within this round.

February 27: Extension and Differentiation 

Miracll Chemicals: Effective February 27, implemented a uniform CNY 1,000/tonne increase across all TPU grades, with clear implementation timelines and no phased rollout. 

Jintang Tech: Raised prices for standard TPU products by CNY 1,000-1,500/tonne; concurrently, TPU powder saw a more substantial increase of CNY 1,500-2,500/tonne, attributable to specialized processing requirements and higher material cost. 

Huada Chem: Announced a comprehensive price revision effective March 1, increasing its full TPU product range by CNY 1,000-1,500/tonne.

Key features of this pricing cycle include: temporal concentration — all eight notices were issued within a 48-hour window; magnitude convergence — the prevailing CNY 1,000-1,500/tonne band for mainstream grades reflects broad consensus on cost inflation; and strategic differentiation —companies adopted grade- and product-specific adjustments, applying larger increases to niche items to balance cost recovery with downstream acceptance.

TPU is critical to applications such as footwear, films, wire & cable and automotive interiors. These price changes are likely to be absorbed gradually by downstream segments. Market participants should closely monitor upstream feedstock trends and real-time order flow indicators, and align procurement and production plans with the evolving price benchmarks.