ASEAN: Styrene-Acrylonitrile Market 2024

Styrene-Acrylonitrile Market Size in ASEAN

In 2023, the ASEAN styrene-acrylonitrile market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. The total consumption indicated notable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2022, and then contracted slightly in the following year.

Styrene-Acrylonitrile Production in ASEAN

In value terms, styrene-acrylonitrile production totaled $X in 2023 estimated in export price. Overall, production, however, continues to indicate a moderate expansion. The growth pace was the most rapid in 2018 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2019 to 2023, production growth failed to regain momentum.

Styrene-Acrylonitrile Exports

Exports in ASEAN

In 2023, the amount of styrene-acrylonitrile (san) and acrylonitrile-butadiene-styrene (abs) copolymers (in primary forms) exported in ASEAN declined slightly to X tons, falling by X% compared with 2022 figures. Total exports indicated a notable expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2018 indices. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2023, the growth of the exports failed to regain momentum.

In value terms, styrene-acrylonitrile exports reduced rapidly to $X in 2023. In general, exports showed a slight curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Malaysia was the major exporting country with an export of around X tons, which recorded X% of total exports. Thailand (X tons) took the second position in the ranking, distantly followed by Vietnam (X tons). All these countries together held approx. X% share of total exports. Indonesia (X tons) took a minor share of total exports.

Exports from Malaysia increased at an average annual rate of X% from 2012 to 2023. At the same time, Vietnam (X%), Indonesia (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. While the share of Vietnam (X p.p.) and Indonesia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Thailand (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest styrene-acrylonitrile supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports. It was followed by Vietnam, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Malaysia totaled X%. In the other countries, the average annual rates were as follows: Thailand (X% per year) and Vietnam (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the export price recorded a deep slump. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced a decline in the export price figures.

Styrene-Acrylonitrile Imports

Imports in ASEAN

In 2023, supplies from abroad of styrene-acrylonitrile (san) and acrylonitrile-butadiene-styrene (abs) copolymers (in primary forms) decreased by X% to X tons, falling for the second consecutive year after ten years of growth. Total imports indicated a resilient expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, styrene-acrylonitrile imports dropped to $X in 2023. Total imports indicated a modest increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Vietnam (X tons) and Malaysia (X tons) represented the major importers of styrene-acrylonitrile (san) and acrylonitrile-butadiene-styrene (abs) copolymers (in primary forms) in 2023, amounting to near X% and X% of total imports, respectively. Thailand (X tons) held the next position in the ranking, followed by Indonesia (X tons). All these countries together took near X% share of total imports. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Malaysia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and Indonesia ($X) were the countries with the highest levels of imports in 2023, together comprising X% of total imports.

Among the main importing countries, Vietnam, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in ASEAN amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price saw a perceptible reduction. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform