Eastern Europe: Acrylonitrile Market 2024

Acrylonitrile Market Size in Eastern Europe

In 2021, the East European acrylonitrile market increased by 2.4% to $X, rising for the fourth year in a row after two years of decline. Over the period under review, consumption recorded a mild contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Acrylonitrile Production in Eastern Europe

In value terms, acrylonitrile production amounted to $X in 2021 estimated in export price. Overall, production, however, recorded a mild descent. The most prominent rate of growth was recorded in 2017 when the production volume increased by 11%. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Acrylonitrile Exports

Exports in Eastern Europe

In 2021, after three years of decline, there was significant growth in shipments abroad of acrylonitrile, when their volume increased by 43% to X tons. In general, exports recorded a measured increase. The pace of growth appeared the most rapid in 2014 with an increase of 96% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, acrylonitrile exports skyrocketed to $X in 2021. Over the period under review, exports saw a temperate increase. The growth pace was the most rapid in 2017 when exports increased by 112% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia prevails in exports structure, resulting at X tons, which was near 93% of total exports in 2021. It was distantly followed by Belarus (X tons), comprising a 6.6% share of total exports.

Russia was also the fastest-growing in terms of the acrylonitrile exports, with a CAGR of +4.5% from 2012 to 2021. At the same time, Belarus (+3.8%) displayed positive paces of growth. While the share of Russia (+3.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest acrylonitrile supplier in Eastern Europe, comprising 91% of total exports. The second position in the ranking was taken by Belarus ($X), with a 9.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Russia totaled +3.9%.

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, rising by 5.6% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 24%. The level of export peaked at $X per ton in 2013; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while Russia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+3.7%).

Acrylonitrile Imports

Imports in Eastern Europe

In 2021, overseas purchases of acrylonitrile were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 53%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, acrylonitrile imports soared to $X in 2021. Overall, imports saw buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Hungary dominates imports structure, reaching X tons, which was near 88% of total imports in 2021. Poland (X tons) ranks second in terms of the total imports with a 5.5% share, followed by Russia (5.2%).

Imports into Hungary increased at an average annual rate of +5.8% from 2012 to 2021. At the same time, Poland (+20.3%) and Russia (+3.2%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +20.3% from 2012-2021. While the share of Poland (+3.8 p.p.) and Hungary (+3.5 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hungary ($X) constitutes the largest market for imported acrylonitrile in Eastern Europe, comprising 86% of total imports. The second position in the ranking was taken by Russia ($X), with a 7.4% share of total imports.

In Hungary, acrylonitrile imports expanded at an average annual rate of +6.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Russia (+7.5% per year) and Poland (+19.2% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, jumping by 45% against the previous year. Import price indicated a modest expansion 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, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Russia ($X per ton), while Hungary ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+4.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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