Report Update: May 1, 2024

Republic of Korea - Acrylonitrile - Market Analysis, Forecast, Size, Trends And Insights

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Acrylonitrile Price in South Korea - 2022

Acrylonitrile Price in South Korea (FOB) - 2022

In 2022, the average acrylonitrile export price amounted to $1,610 per ton, which is down by -17.9% against the previous year. In general, the export price continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2021 when the average export price increased by 69%. As a result, the export price reached the peak level of $1,962 per ton, and then contracted notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($1,905 per ton), while the average price for exports to Japan ($1,244 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.

Acrylonitrile Price in South Korea (CIF) - 2022

In December 2022, the average acrylonitrile import price amounted to $1,457 per ton, remaining relatively unchanged against the previous month. Overall, the import price showed a pronounced contraction. The growth pace was the most rapid in October 2022 when the average import price increased by 2.3% m-o-m. Over the period under review, average import prices attained the maximum at $2,119 per ton in December 2021; however, from January 2022 to December 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In December 2022, the country with the highest price was the United States ($1,503 per ton), while the price for China amounted to $1,443 per ton.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (-2.9%), while the prices for the other major suppliers experienced a decline.

Acrylonitrile Exports in South Korea

Acrylonitrile exports from South Korea contracted to 233K tons in 2022, dropping by -11% on the previous year. Overall, exports saw a pronounced descent. The pace of growth appeared the most rapid in 2021 with an increase of 28% against the previous year. As a result, the exports attained the peak of 262K tons, and then shrank in the following year.

In value terms, acrylonitrile exports contracted dramatically to $375M in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 117%. As a result, the exports attained the peak of $514M, and then declined significantly in the following year.

Export of Acrylonitrile in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	156	83.6	154	112	-10.5%
Netherlands	34.7	50.0	103	74.9	29.2%
Malaysia	50.0	43.2	82.0	59.6	6.0%
India	65.8	30.2	76.4	55.5	-5.5%
United States	4.0	9.2	68.6	49.9	131.9%
Taiwan (Chinese)	23.7	5.0	7.9	8.7	-28.4%
Japan	6.5	10.3	4.3	5.0	-8.4%
Others	34.9	5.2	17.7	9.7	-34.7%
Total	375	237	514	375	0.0%

Top Export Markets for Acrylonitrile from South Korea in 2022:

China (73.2K tons)
Netherlands (50.6K tons)
Malaysia (35.0K tons)
India (31.8K tons)
United States (26.8K tons)
Taiwan (Chinese) (6.7K tons)
Japan (4.1K tons)

Acrylonitrile Imports in South Korea

In 2022, after three years of growth, there was significant decline in supplies from abroad of acrylonitrile, when their volume decreased by -6.7% to 202K tons. The total import volume increased at an average annual rate of +6.8% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 15%. As a result, imports reached the peak of 216K tons, and then fell in the following year.

In value terms, acrylonitrile imports contracted sharply to $334M in 2022. Over the period under review, imports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 116% against the previous year. As a result, imports reached the peak of $457M, and then declined notably in the following year.

Import of Acrylonitrile in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	37.5	61.9	269	185	70.2%
United States	152	89.7	75.7	71.7	-22.2%
Taiwan (Chinese)	63.8	31.8	99.0	68.1	2.2%
Japan	8.1	16.4	13.4	9.2	4.3%
Others	4.3	11.6	N/A	N/A	169.8%
Total	265	211	457	334	8.0%

Top Suppliers of Acrylonitrile to South Korea in 2022:

China (103.5K tons)
United States (56.1K tons)
Taiwan (Chinese) (35.6K tons)
Japan (6.3K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the acrylonitrile market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20144350 - Acrylonitrile

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023