Market Intelligence Report on 1,6-Hexanediamine – Recent Commodity Market Dynamics

I. Market Price Dynamics
1. Recent Price Trends
- As of May 26, 2026, the benchmark price of 1,6-hexanediamine, as reported by Shengyishe (Business Society), reflects a volatile upward trend, driven by market supply-demand dynamics and cost pass-through effects.
- Invista’s posted price for May 2026 has been raised to RMB 27,000 per metric ton, an increase of RMB 1,000 per metric ton from April, indicating mounting pricing pressure stemming from supply constraints and rising production costs.

2. Regional Price Disparities
- Significant regional price variations exist: for instance, prices in Shandong Province hover around RMB 15,000 per metric ton for certain brands, whereas prices in Jiangsu and Hubei Provinces reach RMB 22,000–23,000 per metric ton—reflecting differences in regional supply-demand equilibrium and logistics costs.

II. Supply-Demand Situation
1. Supply Side
- Domestic production capacity has expanded substantially; as of 2025, China’s hexamethylenediamine (HMDA) capacity has reached 1.5 million metric tons per year, accounting for over 50% of global capacity.
- Breakthroughs in emerging production routes—such as the caprolactam amination-dehydration process—have been achieved, with companies including Xuyang Group and Yongrong Holding having successfully scaled up commercial production, thereby partially alleviating supply pressures.
- Overseas industry leaders—including BASF and Asahi Kasei—have announced capacity shutdowns or reductions in HMDA production, further intensifying global supply tightness.

2. Demand Side
- Nylon 66 resin remains the largest application segment for 1,6-hexanediamine. Robust demand growth is being driven by rapid development in automotive lightweighting, electronics & electrical appliances, and aerospace sectors.
- Emerging demand from specialty polyurethane materials for new-energy vehicles is projected to add approximately 80,000 metric tons of incremental HMDA demand, further boosting overall market consumption.

III. Cost Factor Analysis
1. Raw Material Price Volatility
- Butadiene—the primary raw material for the adiponitrile-based HMDA production route—exerts significant influence on HMDA production costs. In Q1 2026, butadiene prices surged broadly, propelling concurrent upward movement in HMDA prices.
- Caprolactam—the main feedstock for the emerging production route—also impacts HMDA cost structure. Although caprolactam prices exhibited a 'rise-then-fall' pattern recently, overall market supply remains relatively tight, providing continued cost support for HMDA.

2. Other Cost Factors
- Logistics costs, brand premiums, and regional price differentials also contribute to price variation across regions and brands.

IV. Analysis and Outlook
1. Short-Term Market Trend
- In the near term, HMDA prices are expected to remain stable with a slight upward bias, underpinned by constrained overseas capacity, resilient domestic downstream demand, and increasingly stringent environmental regulations.
- While large-scale commercialization of novel production technologies will gradually ease supply shortages, their impact remains limited in the short term—thus sustaining upward pricing pressure.

2. Medium- to Long-Term Market Outlook
- Gradual breakthroughs and capacity expansion across China’s fully integrated “adiponitrile–hexanediamine–nylon 66” industrial chain will enhance domestic supply, reduce import dependence, and moderate excessive price increases.
- Sustained downstream demand growth will provide fundamental price support, though intensifying competition may narrow price volatility.
- Stricter environmental regulations and capacity expansion restrictions will drive sectoral transformation toward high-quality, sustainable development—firms with technological advantages and economies of scale are poised to assume leading market positions.