Market Intelligence Report on m-Aminophenol – Recent Commodity Market Dynamics

I. Price Trends
1. Recent Price Volatility:
- In February 2026, the m-aminophenol market exhibited an extreme bullish surge expectation, with quotations from some suppliers spiking to RMB 70,000 per ton, before retreating to RMB 65,000 per ton. On February 25, Zhejiang Longsheng Group announced a price hike for m-aminophenol, raising its ex-factory price from RMB 70,000 to RMB 85,000 per ton — a 55% increase within two weeks.
- In March, the market maintained a high-price stabilization pattern. The Binsi Network (Business Network) benchmark price reached RMB 24,966.67 per ton; however, actual market quotations were significantly higher: Zhejiang Longsheng’s official posted price stood at RMB 85,000 per ton; Jianxin Co., Ltd. quoted RMB 82,000–85,000 per ton; and smaller manufacturers offered prices ranging from RMB 59,000 to RMB 69,000 per ton.
- In April, prices underwent a correction: on April 13 and 14, the Binsi Network benchmark price was RMB 24,466.67 per ton — down 2% from the beginning-of-month level (RMB 24,966.67 per ton). As of April 28, the Binsi Network benchmark price stood at RMB 24,433.33 per ton — representing a 2.14% decline compared to the start of the month.
- On May 25, the Binsi Network benchmark price remained unchanged at RMB 24,433.33 per ton versus the beginning-of-month level.

2. Regional Price Disparities:
- Significant regional price variations exist across China. For example, on April 20, Hengjiu Chemical Co., Ltd. in Wuhan City, Hubei Province quoted RMB 24,400 per ton; Shandong Zhihengda Import & Export Co., Ltd. in Shandong Province quoted RMB 24,500 per ton; whereas Nantong Zhonghe Chemical New Materials Co., Ltd. in Nantong City, Jiangsu Province quoted as high as RMB 67,000 per ton.

II. Supply-Demand Dynamics
1. Supply Side:
- China’s effective annual production capacity for m-aminophenol is approximately 42,000 tons, with a CR5 (combined market share of the top five producers) exceeding 65%. Leading enterprises include Zhejiang Longsheng and Jianxin Co., Ltd., sustaining a stable duopoly-dominated market structure. In 2025, roughly 12,000 tons/year of non-compliant capacity was phased out, further tightening effective supply. Actual output totaled ~28,000 tons, yielding a capacity utilization rate of approximately 87.5%.
- Raw material m-nitroaniline is produced via nitration processes. In recent years, nitration-related explosion incidents have triggered stringent regulatory oversight over associated manufacturing facilities, constraining raw material supply and reinforcing market concentration.

2. Demand Side:
- Prices of downstream disperse dyes have risen broadly, providing strong pricing leverage for upstream intermediates such as m-aminophenol. Rapid growth in pharmaceutical demand has become a key driver behind m-aminophenol price increases. Additionally, expansion into emerging application areas offers new growth avenues for the m-aminophenol market.

III. Market Sentiment and Trading Behavior
1. Market Sentiment:
- Traders’ reluctance to sell (“inventory-hoarding” sentiment) has intensified; low-priced supplies have virtually disappeared from the market, reflecting broad optimism regarding future price trajectories. While leading producers maintain stable posted prices, traders’ quotations continue to rise, signaling tight supply-demand conditions.

2. Trading Behavior:
- Actual transaction prices may vary significantly depending on bilateral negotiations between buyers and suppliers, resulting in a relatively fragmented and inconsistent quotation landscape.

IV. Key Influencing Factors
1. Raw Material Supply:
- Constrained supply of m-nitroaniline further strengthens market concentration. Should this constraint intensify, it could exert additional upward pressure on m-aminophenol prices.

2. Downstream Demand Shifts:
- Demand fluctuations in downstream sectors — particularly dyes and pharmaceuticals — critically influence the m-aminophenol market. A slowdown in dye industry demand could trigger price corrections for m-aminophenol.

3. Geopolitical Factors:
- Although no direct geopolitical impact on the m-aminophenol market has been reported, closely related chemical commodities — such as phenol — demonstrate high sensitivity to geopolitical developments, underscoring the broader chemical industry’s vulnerability to such risks. The m-aminophenol market should remain vigilant against potential indirect spillover effects.

V. Analysis and Outlook
1. Short-Term Outlook:
- m-Aminophenol prices are expected to remain elevated, though short-term volatility is likely. Price movements will be shaped by interplays among raw material availability, downstream demand dynamics, and prevailing market sentiment — potentially triggering modest upward or downward adjustments.

2. Long-Term Outlook:
- Sustained growth in downstream demand coupled with persistent supply constraints suggests continued upward price momentum for m-aminophenol, possibly surpassing historical highs. However, close monitoring of raw material supply stability and downstream demand trends remains essential. Meanwhile, increasingly stringent environmental regulations will accelerate the elimination of outdated capacity, further elevating market concentration.

VI. Forward Projections
1. Demand-Side Projection:
- Downstream industries — including dyes and pharmaceuticals — are anticipated to sustain robust growth, driving continuous demand expansion for m-aminophenol. Concurrently, exploration and commercialization of novel applications will generate incremental growth opportunities for the m-aminophenol market.

2. Supply-Side Projection:
- Industry leaders are expected to consolidate their competitive advantages through technological upgrading and strategic capacity expansion to meet rising demand. Such initiatives will help stabilize overall supply but may also intensify competitive pressures within the sector.