Vietnam: Styrene-Acrylonitrile Market 2024

Styrene-Acrylonitrile Market Size in Vietnam

After two years of growth, the Vietnamese styrene-acrylonitrile market decreased by X% to $X in 2022. Overall, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. Styrene-acrylonitrile consumption peaked at $X in 2021, and then declined markedly in the following year.

Styrene-Acrylonitrile Exports

Exports from Vietnam

In 2022, after two years of decline, there was significant growth in shipments abroad of styrene-acrylonitrile (san) and acrylonitrile-butadiene-styrene (abs) copolymers (in primary forms), when their volume increased by X% to X tons. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, styrene-acrylonitrile exports soared to $X in 2022. Over the period under review, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

China (X tons) was the main destination for styrene-acrylonitrile exports from Vietnam, accounting for a X% share of total exports. Moreover, styrene-acrylonitrile exports to China exceeded the volume sent to the second major destination, Thailand (X tons), threefold. The third position in this ranking was held by Canada (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Canada (X% per year).

In value terms, China ($X) remains the key foreign market for styrene-acrylonitrile (san) and acrylonitrile-butadiene-styrene (abs) copolymers (in primary forms) exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports. It was followed by Canada, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Canada (X% per year).

Export Prices by Country

In 2022, the average styrene-acrylonitrile export price amounted to $X per ton, waning by X% against the previous year. Over the period under review, export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, styrene-acrylonitrile export price increased by X% against 2020 indices. The growth pace was the most rapid in 2013 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were the Philippines ($X per ton) and Thailand ($X per ton), while the average price for exports to Bangladesh ($X per ton) and China ($X per ton) were amongst the lowest.

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

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Styrene-Acrylonitrile Imports

Imports into Vietnam

In 2022, supplies from abroad of styrene-acrylonitrile (san) and acrylonitrile-butadiene-styrene (abs) copolymers (in primary forms) decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2021, and then fell in the following year.

In value terms, styrene-acrylonitrile imports reduced to $X in 2022. Overall, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

South Korea (X tons), Taiwan (Chinese) (X tons) and Malaysia (X tons) were the main suppliers of styrene-acrylonitrile imports to Vietnam, with a combined X% share of total imports. China, Japan, Thailand and Saudi Arabia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Taiwan (Chinese) ($X) and Malaysia ($X) were the largest styrene-acrylonitrile suppliers to Vietnam, with a combined X% share of total imports. China, Japan, Thailand and Saudi Arabia lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Saudi Arabia, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2022, the average styrene-acrylonitrile import price amounted to $X per ton, growing by X% against the previous year. Overall, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, styrene-acrylonitrile import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Saudi Arabia ($X per ton) and Malaysia ($X per ton), while the price for South Korea ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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