In recent years, my country's nylon 66 has entered a peak period of production, and it is expected that the total domestic production capacity will exceed 10 million tons in the future. At the same time, the upstream raw material of nylon 66, adiponitrile, is also expanding rapidly.
The adiponitrile industry has a high degree of capacity concentration, and is equipped with a complete upstream and downstream industrial chain. In 2022, the top three companies in the industry, INVISTA, Ascend and BASF, have a total adiponitrile production capacity of 2.2 million tons, accounting for 72.8% of the world's total production capacity. The competition in the entire industry is a full industrial chain competition from adiponitrile to nylon 66. The total nylon 66 production capacity of INVISTA, Ascend and BASF is 1.394 million tons, accounting for more than 45% of the world's total production capacity. The adiponitrile raw materials needed by other nylon 66 manufacturers in the world are basically purchased from INVISTA, which almost monopolizes the global trade in adiponitrile. INVISTA has an absolute competitive advantage in the global adiponitrile-nylon 66 industrial chain. Before 2019, my country had no industrial production facilities for adiponitrile, and all the required adiponitrile was imported. As of now, my country has a production capacity of about 800,000 tons, including 400,000 tons of INVISTA (Shanghai), 200,000 tons of Chongqing Huafeng, and 200,000 tons of Tianchen Qixiang, accounting for nearly one-third of the world's total production capacity.
In 2017, my country's adiponitrile consumption was 279,500 tons. In 2022, my country's adiponitrile consumption increased to 383,000 tons, with an average annual growth rate of more than 6%, higher than the world average growth rate.
