The report indicates a sharp downturn in the industry, with nylon prices continuing to decline significantly in 2025. Prices of some products have approached levels seen during special periods, while nylon filament prices hit a record low. Overall operating rates in the industry have declined, with a substantial accumulation of inventory in the midstream and downstream sectors. Both chip manufacturers and spinning planst were struggling to reduce inventory, and significantly compressed processing spread has led to widespread losses across the industry, with only a few niche products managing to generate meager profits. The core issue is the supply-demand imbalance in the high-speed spinning industry chain, exacerbated by domestic deflation, slowing consumption, and diminished demand in previously popular niche segments. By 2026, capacity expansion in the midstream and upstream is expected to slow, while exports of some products will substitute for others. Coupled with the boost from the polyester industry, resilient exports, and anti-rat race policies, the industry is anticipated to experience marginal improvement.