Toluenesulfonyl hydrazide (TSH) is another important blowing agent in polymer and rubber applications, widely used for producing microcellular foams. The production trend for TSH has mirrored broader growth in the plastics industry, with Asia dominating global production thanks to its robust chemical infrastructure. China and India have continued to expand manufacturing capacity to meet growing downstream requirements in footwear, automotive parts, and packaging foams. In terms of pricing, toluenesulfonyl hydrazide has seen moderate volatility over the last year. In 2024, prices rose following increased demand for polymer foams in the construction and automotive sectors, coupled with higher costs of toluenesulfonyl chloride and hydrazine hydrate. In addition, energy cost hikes and freight rate increases contributed to this upward pressure. Heading into 2025, prices are likely to stabilize, assuming feedstock costs remain steady. However, any disruption in hydrazine supply or regulatory tightening could trigger a renewed price escalation.