This report is divided into three parts:

Part 1: The global nylon 66 market continued to face pressure. Since 2023, the European and American nylon 66 markets have been challenged by weak demand, high costs and squeezed profits. Macroeconomic headwinds and sluggish demand in the automotive industry have led to the shutdown of production facilities by many European enterprises. In North America, some factories have also ceased production and enterprises have filed for bankruptcy, resulting in a profound adjustment of the industry.

Part 2: China's capacity expansion changes the global pattern. China has seen rapid capacity expansion in key intermediates such as adiponitrile and hexamethylenediamine. It is expected that by 2027, China will account for more than 50% of the global adiponitrile capacity.

Part 3: Industry prospects and challenges. The global market is in oversupply, and price support has weakened. The low operating rate in Europe and the United States, coupled with corporate losses, may lead to more production halts. Trade disputes and tariff issues have increased uncertainty. If demand begins to recover, the integration of the petrochemical industry may cause localized supply shortages.