Styrene-Acrylonitrile Copolymers Market

The article discusses the increasing demand for styrene-acrylonitrile (san) copolymers in primary forms globally, with a projected CAGR of +3.0% from 2022 to 2030. Market performance is analyzed, with consumption volumes expected to reach 2.2M tons by 2030. Key insights include consumption and production trends, market values, top consuming and producing countries, and import/export statistics. The report provides a comprehensive overview of the styrene-acrylonitrile copolymers market, highlighting growth opportunities and challenges in the industry.

Market Forecast

Driven by increasing demand for styrene-acrylonitrile (san) copolymers in primary forms worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market volume to 2.2M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.3% for the period from 2022 to 2030, which is projected to bring the market value to $4.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Styrene-Acrylonitrile (San) Copolymers In Primary Forms

In 2022, the amount of styrene-acrylonitrile (san) copolymers in primary forms consumed worldwide reduced to 1.7M tons, shrinking by -4.3% on 2021. The total consumption volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global consumption attained the maximum volume at 1.8M tons in 2021, and then contracted modestly in the following year.

The global styrene-acrylonitrile copolymers market revenue shrank modestly to $3.2B in 2022, falling by -2.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at $3.3B in 2021, and then shrank slightly in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (286K tons), the United States (240K tons) and India (166K tons), together comprising 40% of global consumption. Germany, Japan, Hungary, South Korea, Mexico, Saudi Arabia, Thailand, Spain, Democratic Republic of the Congo and the Netherlands lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +16.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest styrene-acrylonitrile copolymers markets worldwide were the United States ($519M), China ($496M) and India ($267M), together accounting for 40% of the global market. Japan, Hungary, Spain, Germany, Thailand, South Korea, Mexico, Saudi Arabia, the Netherlands and Democratic Republic of the Congo lagged somewhat behind, together comprising a further 34%.

The Netherlands, with a CAGR of +13.3%, recorded the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of styrene-acrylonitrile copolymers per capita consumption was registered in Hungary (8.5 kg per person), followed by the Netherlands (1.6 kg per person), Germany (1.5 kg per person) and Saudi Arabia (1.2 kg per person), while the world average per capita consumption of styrene-acrylonitrile copolymers was estimated at 0.2 kg per person.

In Hungary, styrene-acrylonitrile copolymers per capita consumption expanded at an average annual rate of +4.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Netherlands (+15.8% per year) and Germany (+2.1% per year).

Production

World Production of Styrene-Acrylonitrile (San) Copolymers In Primary Forms

In 2022, production of styrene-acrylonitrile (san) copolymers in primary forms decreased by -3.2% to 1.7M tons, falling for the third year in a row after eight years of growth. The total output volume increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when the production volume increased by 9.2%. Over the period under review, global production attained the peak volume at 1.8M tons in 2019; however, from 2020 to 2022, production remained at a lower figure.

In value terms, styrene-acrylonitrile copolymers production stood at $3B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 18% against the previous year. As a result, production attained the peak level of $3.1B. From 2019 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were the United States (252K tons), South Korea (227K tons) and India (145K tons), with a combined 37% share of global production. Japan, Germany, China, Taiwan (Chinese), Hungary, Saudi Arabia, Thailand, the Netherlands, Mexico and Spain lagged somewhat behind, together comprising a further 43%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Saudi Arabia (with a CAGR of +13.7%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Styrene-Acrylonitrile (San) Copolymers In Primary Forms

In 2022, after five years of growth, there was significant decline in overseas purchases of styrene-acrylonitrile (san) copolymers in primary forms, when their volume decreased by -23.4% to 558K tons. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 19% against the previous year. Global imports peaked at 728K tons in 2021, and then declined remarkably in the following year.

In value terms, styrene-acrylonitrile copolymers imports dropped dramatically to $1.1B in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 51% against the previous year. As a result, imports reached the peak of $1.4B, and then declined rapidly in the following year.

Imports By Country

China was the major importing country with an import of around 207K tons, which reached 37% of total imports. Thailand (29K tons) held a 5.2% share (based on physical terms) of total imports, which put it in second place, followed by Hungary (4.8%). Indonesia (25K tons), India (23K tons), Nigeria (21K tons), Vietnam (21K tons), the United States (15K tons), Italy (13K tons), Germany (12K tons), Turkey (12K tons), Canada (12K tons) and Mexico (12K tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of imports of styrene-acrylonitrile (san) copolymers in primary forms. At the same time, India (+15.5%), Hungary (+14.7%), Mexico (+10.8%), Indonesia (+9.2%), Turkey (+7.6%), Vietnam (+7.2%), Thailand (+5.6%), Nigeria (+5.0%) and Canada (+4.0%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +15.5% from 2012-2022. The United States experienced a relatively flat trend pattern. By contrast, Italy (-1.4%) and Germany (-4.4%) illustrated a downward trend over the same period. Hungary (+3.5 p.p.), India (+3.1 p.p.), Indonesia (+2.5 p.p.), Thailand (+2.1 p.p.) and Vietnam (+1.8 p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($360M) constitutes the largest market for imported styrene-acrylonitrile (san) copolymers in primary forms worldwide, comprising 32% of global imports. The second position in the ranking was held by Hungary ($64M), with a 5.7% share of global imports. It was followed by Thailand, with a 5.3% share.

In China, styrene-acrylonitrile copolymers imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hungary (+16.1% per year) and Thailand (+4.4% per year).

Import Prices By Country

In 2022, the average styrene-acrylonitrile copolymers import price amounted to $2,011 per ton, with an increase of 3% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 39% against the previous year. Over the period under review, average import prices attained the maximum at $2,169 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($2,732 per ton), while Nigeria ($839 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+3.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Styrene-Acrylonitrile (San) Copolymers In Primary Forms

After six years of growth, shipments abroad of styrene-acrylonitrile (san) copolymers in primary forms decreased by -22.7% to 508K tons in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by 14%. Over the period under review, the global exports attained the peak figure at 657K tons in 2021, and then reduced remarkably in the following year.

In value terms, styrene-acrylonitrile copolymers exports declined remarkably to $946M in 2022. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 50% against the previous year. As a result, the exports reached the peak of $1.3B, and then dropped sharply in the following year.

Exports By Country

In 2022, South Korea (176K tons), distantly followed by Taiwan (Chinese) (106K tons), Thailand (43K tons), the United States (27K tons), China (24K tons), Japan (23K tons) and the Netherlands (23K tons) were the main exporters of styrene-acrylonitrile (san) copolymers in primary forms, together generating 83% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by China (with a CAGR of +12.7%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest styrene-acrylonitrile copolymers supplying countries worldwide were South Korea ($306M), Taiwan (Chinese) ($181M) and Thailand ($72M), with a combined 59% share of global exports. The United States, the Netherlands, Japan and China lagged somewhat behind, together accounting for a further 23%.

Among the main exporting countries, China, with a CAGR of +10.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average styrene-acrylonitrile copolymers export price stood at $1,863 per ton in 2022, declining by -2.8% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 41%. The global export price peaked at $2,087 per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in the Netherlands ($2,398 per ton) and the United States ($2,367 per ton), while Thailand ($1,672 per ton) and Taiwan (Chinese) ($1,712 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.1%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform