For the Quarter Ending March 2025
North America
In Q1 2025, the Hexamethylene Diamine (HMDA) market in North America began with an upward price trend in January, supported by moderate demand from the automotive and construction sectors. However, this initial price increase was short-lived as the market faced pressure in February. Increased production and higher inventory levels contributed to a softened market, with weak demand from key industries, particularly the Nylon 66 and coatings sectors. Tariff concerns and trade uncertainties with Asia further dampened buying sentiment, keeping the market relatively cautious.
By March, the situation worsened as prices dropped significantly by 4.5%. The construction sector, a major consumer of HMDA, remained subdued, while oversupply continued to weigh heavily on the market. Despite improvements in logistics operations and manufacturing activity, the overall sentiment remained negative, exacerbated by the ongoing trade tensions and global economic uncertainties. As a result, prices for HMDA FOB Houston ended March at USD 2981/MT.
For the quarter, the average price for HMDA decreased by 2% compared to Q4 2024. The market remains challenged by weak demand, oversupply, and external pressures, creating a difficult environment for market participants.
APAC
In Q1 2025, the Hexamethylene Diamine (HMDA) market in the APAC region saw fluctuating pricing trends, influenced by various market forces. January began with an uptick in prices, driven by moderate demand from downstream industries, including coatings and adhesives, alongside tight supply ahead of the Lunar New Year. However, in February, prices dipped due to oversupply and weak consumption from major sectors like automotive and construction. Despite these challenges, there was a recovery in March, with prices rising by 1%, supported by an improvement in manufacturing activity and steady demand from key industries. The Nylon 66 segment continued to face weak demand, but the coatings and automotive sectors provided some relief. On the supply side, logistical disruptions from port congestion and seasonal production increases impacted price stability. By the end of Q1 2025, Hexamethylene Diamine prices Ex-Shanghai (China) had decreased by 7.8% in March, resulting in an overall 7% drop compared to Q4 2024. These fluctuations highlight the ongoing challenges of balancing supply chain disruptions and weak demand, leaving market participants cautiously moving forward.
Europe
In Q1 2025, the Hexamethylene Diamine (HMDA) market in Europe showed a mixed pricing trend, with prices initially rising in January due to steady demand from key downstream sectors. This increase was supported by stable supply conditions and efficient logistics, which helped maintain market equilibrium. However, in February, prices began to decline as production levels increased, leading to a buildup in inventories. Demand from critical downstream industries like Nylon 66 and coatings remained weak, further pressuring the market. Trade uncertainties, particularly around tariffs and global economic conditions, added to the cautious market sentiment, causing a decline in purchasing activity. In March, the market saw a slight recovery, with prices inching upwards due to improvements in manufacturing activity and logistics operations. Despite this, demand from the construction sector remained subdued, and oversupply continued to weigh on market performance. External factors such as ongoing global economic uncertainties and supply chain disruptions presented ongoing challenges, limiting any significant market recovery. Overall, the quarter was marked by cautious optimism, with participants facing pressure from weak demand and external market forces.
