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Analysis on PA66 Upstream Materials and Market

Analysis on PA66 Upstream Materials and Market2019.06.04

Hexanediamine and adipic acid are the main materials in the production of polyamide 66 (nylon 66, PA66), a material that can be widely used in automobile industry, instrument shell and other products which need impact resistance and high strength.


Hexanediamine


Hexanediamine is the core material for the synthesis of PA66. which is hydrogenated by adiponitrile. However, the production of adiponitrile is highly concentrated in four enterprises, namely, Invista, Ascend, BASF and Asahi Kasei. Among them, Invista from the United States accounts for more than 50% of global adiponitrile production capacity.





Therefore, the supply of adiponitrile is highly monopolized  and the operating rate and market price of hexanediamine will also be affected. At present, the global production capacity of hexanediamine is about 2.13 million tons, which is also highly concentrated in Invista, BASF, Ascend, Pingmei Shenma, etc.




Adipic Acid


Adipic acidis mainly produced from benzene, and the production technique is quite mature. There are many adipic acid production enterprises on the global market, so the market is less concentrated compared with hexanediamine.


The global production capacity of adipic acid was about 4.79 million tons in 2017 while the demand was less than 3.10 million tons, therefore the global adipic acid is oversupplied.


Production Capacity of Major Adipic Acid Enterprises



Adipic Acid in China- Oversupply & Overcapacity


China's adipic acid production capacity expanded from 1.55 million tons in 2012 to 2.55 million tons in 2017, seeing a compound increase of 10%. In terms of import and export, before 2011, China imported more adipic acid than it exported. After 2012, China's adipic acid production capacity was gradually released, the export volume increased rapidly, meanwhile the import volume decreased sharply. In 2017, adipic acid exported 370,000 tons, and the import volume was only 17,000 tons.




PA66


PA66 is mainly used in the automotive and electronic industry. It can be used as the solution for lightweight of automobile. With the lightweight material demand in new energy vehicles is increasing, it is expected that the demand for PA66 will keep rising.


Production Capacity of Major Monopolized PA66 Enterprises

 

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