On 31 march 2026, the ingwidnilong chemical company (china) ltd. Officially announced the commencement of force majeure and performance exemption procedures for the three core products of diazine, amitamine and pa66 polymers. The immediate cause of this force majeure was the continued escalation of the middle east conflict, which led to the disruption of the supply of butadiene, the core raw material at the british crown factory, and to the serious difficulties of production operations, which prevented normal performance of supply contracts。
As the leading global business in pa66 and amitamine, the market was significantly affected by the supply disruption in inveida. According to the data, by the end of 2025, inveida had a capacity of 400,000 tons in china's pa66 market, accounting for 27 per cent of the country's total capacity, and accounted for a major share of the domestic high-end market for its amitamine products. This force majeure directly resulted in the scarcity of domestic amitamine and pa66。
In addition to force majeure, the rise in industrial chain costs and the tightening of supply have been driven by a double drive to push pa66 prices upwards。
Cost end: whole-industry chain price increase, core raw materials price boom litres
The core logic of the current round of pa66 price increases is the constant escalation of costs, while the surge in crude oil prices is the source of the chain price rise. The rise in crude oil prices has led to sharp increases in the prices of primary chemical materials such as pure benzene, ethylene, butadiene, which, as the core ingredient of adimonol, have increased cumulatively by more than 102 per cent in three months, completely opening up the space for industrial chain costs. As the core intermediate of pa66, the price of amitraz has soared from $18,200 per ton at the beginning of march to $26,000 per ton at the end of april, increasing by 42. 9 per cent a month and directly increasing pa66 production costs. In addition, prices of raw materials such as pure benzene, hexadioxin and other related materials have risen simultaneously, further reinforcing the cost support and pushing pa66 prices forward passively。
Supply end: lead firms are indented and industrially monopolized, with continued supply tightening
In addition to the supply gap created by the force majeure of invida, the supply pattern of pa66 itself has increased tensions. The oligopolistic pattern of global production of diazine, as well as a high concentration of capacity, with a small number of giants, such as inveda, basff and olyngde, controlling the global pricing power and supply chain, with annual production of 500,000 tons of diazine, which dominates the world, has enabled any fluctuations on the supply side to be quickly transmitted to market prices. In mid-march, the market-efficient supply was further reduced by the disruption of production caused by force majeure as a result of the simultaneous retrofitting and decomposition of the amitrazine and amitamine devices at the shanghai base in inveida。
At the same time, some of the domestic pa66 producers issued early warning of supply due to shortages of raw materials, with industry starting at only 55 to 60 per cent low, and continued tight market spot flows, which strongly underpinned the price rise. According to china's plastic statistics, pa66 prices rose gradually from $15,500 per ton in january and $15,800 per ton in february to $16,200 per ton in early march, rising rapidly to $21,000 per ton in mid-march, implementing prices on 1 april amounted to $21,600 per ton, increasing by nearly 30 per cent in march alone, exceeding the cumulative increase of 39 per cent in january and officially entering the “age of 20,000”。
In summary, in the short term, the pa66 market will maintain its high and robustness, driven by force majeure and cost supply in the case of england. In the medium to long term, pa66 prices may be subject to modest reversals if geo-conflicts slow down the price of crude oil or if downstream firms continue to wait for currency and demand for purchases shrink further。
