Eastern Asia: Acrylonitrile Market 2024

Acrylonitrile Market Size in Eastern Asia

In 2021, the East Asian acrylonitrile market increased by 27% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption saw a noticeable setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Acrylonitrile Production in Eastern Asia

In value terms, acrylonitrile production surged to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Acrylonitrile Exports

Exports in Eastern Asia

In 2021, exports of acrylonitrile in Eastern Asia skyrocketed to X tons, jumping by 34% on 2020 figures. The total export volume increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, acrylonitrile exports skyrocketed to $X in 2021. Over the period under review, exports saw a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, South Korea (X tons), China (X tons) and Taiwan (Chinese) (X tons) represented the major exporter of acrylonitrile in Eastern Asia, creating 92% of total export. It was distantly followed by Japan (X tons), mixing up a 7.6% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by China (with a CAGR of +149.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest acrylonitrile supplying countries in Eastern Asia were South Korea ($X), China ($X) and Taiwan (Chinese) ($X), with a combined 93% share of total exports.

China, with a CAGR of +182.1%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, growing by 74% against the previous year. Export price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in China ($X per ton) and Taiwan (Chinese) ($X per ton), while Japan ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+13.0%), while the other leaders experienced more modest paces of growth.

Acrylonitrile Imports

Imports in Eastern Asia

In 2021, imports of acrylonitrile in Eastern Asia fell to X tons, with a decrease of -10.2% against 2020 figures. In general, imports showed a noticeable downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 25%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, acrylonitrile imports surged to $X in 2021. Over the period under review, imports showed a perceptible descent. The pace of growth appeared the most rapid in 2018 when imports increased by 67%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, South Korea (X tons) and China (X tons) were the main importers of acrylonitrile in Eastern Asia, together constituting 81% of total imports. It was distantly followed by Taiwan (Chinese) (X tons), generating a 17% share of total imports. Japan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +8.0%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, South Korea ($X), China ($X) and Taiwan (Chinese) ($X) constituted the countries with the highest levels of imports in 2021, with a combined 98% share of total imports. These countries were followed by Japan, which accounted for a further 1.6%.

In terms of the main importing countries, Japan, with a CAGR of +9.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, growing by 83% against the previous year. Import price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in South Korea ($X per ton) and Japan ($X per ton), while Taiwan (Chinese) ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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