Huizheng information, after the Spring Festival,BASF, Fanengtuo, Connors, Wanhua Chemical, Longbai Group and other domestic and foreign chemical giants have successively announced price increases, and their products cover titanium dioxide, TDI, MDI and other fields. Subsequently, LANXESS, INVISTA, and Ascend's overseas chemical giants also announced price increases, expanding the product range to adipic acid and HMD products.
The reason for this round of global price increases for fine chemicals is mainly due to the increase in raw material costs and the urgent need for manufacturers to repair the current situation of low profits in 2023, resulting in a global and large-scale price increase for fine chemical products.
Web Links. February 23rd,LANXESSAnnounced, it will be immediately raised globallyAdipic acid**, an increase of 250 euros tonnes. This adjustment is due to the significant cost of raw materials over the past few months**.
The adipic acid products announced by LANXESS are the main intermediates of polyamide (PA) and polyurethane (PU), and are the main raw materials for nylon 66 fiber, engineering plastics, degradable plastics, polyurethane resin synthetic rubber, etc.
The merger of LANXESS' Performance Materials business (including its polyamide business) with DSM Engineering Plastics to form a global engineering materials giant, Envalior, has so far faced the price increase of LANXESSThe company has not disclosed whether it will make corresponding adjustments to its polyamide products.
February 26th,INVISTAIt was announced that DYTEK will start at 7 a.m. on March 1, 2024Hexamethylenediamine (HMD).The spot trading price is 25,000 yuan per ton, which is 3,000 yuan per ton compared with the past three months, which is also another price increase for INVISTA since February after 500 yuan per ton.
Compared with September 2023**, INVISTA has now accumulated a price increase of 5,500 yuan per ton in the first quarter of 2024 and the fourth quarter of 2023.
At the same time,AscendIncrease performance and specialty chemicals** by up to 20%.
Ascend announced that it will increase its performance and specialty chemicals globally, effective March 1, 2024, to the extent permitted by the contract.
In addition to price increases, in the field of specialty chemicals, manufacturers outside China have seized market opportunities and started to invest in production capacity.
Web Links. February 26th,Mitsui ChemicalsAnnounced that it will be located in Omuta, JapanM-benzene dimethyl isocyanate (XDI).The production capacity of the plant will be increased by 20%, and the project is scheduled to start in February, be completed in July 2025, and tentatively open for operation in September 2025.
XDI is an isocyanate compound, the main component of polyurethanes, which is used as a coating and functional material due to its excellent anti-yellowing and fast-curing properties. Such as coatings, adhesives, elastomers and other high-grade yellowing resistant polyurethane products.
At present, the main manufacturers of XDI are Mitsui Chemicals, Hangzhou Brown Biotechnology, Wanhua Chemical, Beijing Yuji Technology, Gansu Yinguang Juyin Chemical, Lianhong Xinke, Hanwha, etc. The Asia-Pacific region is the world's largest XDI market, with a market share of approximately 94%.
In 2021, the global XDI market sales reached 1$200 million, as demand for XDI will increase further and the use of hybrid materials, especially adhesives for food packaging, special inks and coating materials used in solar cells and smartphones, and microcapsules will be eliminated. It is expected that the market sales will reach 2$200 million