Belarus: Acrylonitrile Market 2024

Acrylonitrile Market Size in Belarus

In 2021, the Belarusian acrylonitrile market increased by 30% to $X, rising for the fourth consecutive year after two years of decline. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Acrylonitrile Production in Belarus

In value terms, acrylonitrile production shrank slightly to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 27%. Over the period under review, production reached the peak level at $X in 2020, and then shrank modestly in the following year.

Acrylonitrile Exports

Exports from Belarus

In 2021, overseas shipments of acrylonitrile decreased by -57.7% to X tons, falling for the fourth year in a row after two years of growth. Over the period under review, exports, however, recorded a noticeable increase. The most prominent rate of growth was recorded in 2014 when exports increased by 459% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, acrylonitrile exports shrank sharply to $X in 2021. In general, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 388%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey (X tons) was the main destination for acrylonitrile exports from Belarus, with a 45% share of total exports. Moreover, acrylonitrile exports to Turkey exceeded the volume sent to the second major destination, the Netherlands (X tons), fourfold. India (X tons) ranked third in terms of total exports with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey amounted to +21.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-6.7% per year) and India (+6.7% per year).

In value terms, Turkey ($X) remains the key foreign market for acrylonitrile exports from Belarus, comprising 37% of total exports. The second position in the ranking was held by India ($X), with a 14% share of total exports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey stood at +25.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+16.5% per year) and the Netherlands (-5.4% per year).

Export Prices by Country

In 2021, the average acrylonitrile export price amounted to $X per ton, increasing by 19% against the previous year. Overall, export price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, acrylonitrile export price increased by +163.3% against 2016 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by 47% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Acrylonitrile Imports

Imports into Belarus

In 2021, supplies from abroad of acrylonitrile was finally on the rise to reach X kg after two years of decline. Overall, imports, however, recorded a sharp shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 65% against the previous year. Imports peaked at X kg in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, acrylonitrile imports stood at $X in 2021. Over the period under review, imports, however, saw a dramatic decline. The smallest decline of -90.9% was in 2013. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Russia (X kg) and Belgium (X kg) were the main suppliers of acrylonitrile imports to Belarus.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of -33.5%).

In value terms, Russia ($X) and Belgium ($X) appeared to be the largest acrylonitrile suppliers to Belarus.

Among the main suppliers, Belgium, with a CAGR of -25.8%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The average acrylonitrile import price stood at $X per ton in 2021, waning by -14.6% against the previous year. Overall, the import price, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2019 an increase of 91% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2020, and then reduced in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Belgium amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+12.3%).

Source: IndexBox Platform

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