ECOWAS: Styrene-Acrylonitrile Market 2024

Styrene-Acrylonitrile Market Size in ECOWAS

The ECOWAS styrene-acrylonitrile market reduced slightly to $X in 2022, falling by X% against the previous year. The total consumption indicated perceptible growth 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 decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Styrene-Acrylonitrile Production in ECOWAS

In value terms, styrene-acrylonitrile production reached $X in 2022 estimated in export price. The total production indicated a perceptible 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Styrene-Acrylonitrile Exports

Exports in ECOWAS

In 2022, shipments abroad of styrene-acrylonitrile (san) and acrylonitrile-butadiene-styrene (abs) copolymers (in primary forms) was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, styrene-acrylonitrile exports rose slightly to $X in 2022. Overall, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2015 with an increase of X%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Nigeria (X tons) was the main exporter of styrene-acrylonitrile (san) and acrylonitrile-butadiene-styrene (abs) copolymers (in primary forms), achieving X% of total exports. Ghana (X tons) took the second position in the ranking, distantly followed by Senegal (X tons). All these countries together took approx. X% share of total exports. Togo (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to styrene-acrylonitrile exports from Nigeria stood at X%. At the same time, Ghana (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. Togo experienced a relatively flat trend pattern. Ghana (X p.p.), Senegal (X p.p.) and Togo (X p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) remains the largest styrene-acrylonitrile supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports. It was followed by Senegal, with a X% share.

In Nigeria, styrene-acrylonitrile exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Senegal (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, declining by X% against the previous year. Overall, the export price showed a perceptible setback. The most prominent rate of growth was recorded in 2016 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced a decline in the export price figures.

Styrene-Acrylonitrile Imports

Imports in ECOWAS

In 2022, purchases abroad of styrene-acrylonitrile (san) and acrylonitrile-butadiene-styrene (abs) copolymers (in primary forms) decreased by X% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, imports, however, posted a pronounced increase. The pace of growth appeared the most rapid in 2019 when imports increased by X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, styrene-acrylonitrile imports shrank significantly to $X in 2022. Total imports indicated mild growth 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. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria dominates imports structure, finishing at X tons, which was near X% of total imports in 2022. Senegal (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to styrene-acrylonitrile imports into Nigeria stood at X%. At the same time, Senegal (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Senegal increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported styrene-acrylonitrile (san) and acrylonitrile-butadiene-styrene (abs) copolymers (in primary forms) in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Senegal ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria was relatively modest.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price, however, continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Senegal ($X per ton), while Nigeria stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%).

Source: IndexBox Platform