Latvia: Styrene-Acrylonitrile Market 2024

Styrene-Acrylonitrile Market Size in Latvia

In 2022, the Latvian styrene-acrylonitrile market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. In general, the total consumption indicated notable 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. Styrene-acrylonitrile consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Styrene-Acrylonitrile Production in Latvia

In value terms, styrene-acrylonitrile production dropped modestly to $X in 2022 estimated in export price. Overall, the total production 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, production decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Styrene-Acrylonitrile Exports

Exports from Latvia

After four years of growth, overseas shipments of styrene-acrylonitrile (san) and acrylonitrile-butadiene-styrene (abs) copolymers (in primary forms) decreased by X% to X tons in 2022. In general, exports, however, posted a strong expansion. The pace of growth appeared the most rapid in 2018 when exports increased by X%. The exports peaked at X tons in 2021, and then declined dramatically in the following year.

In value terms, styrene-acrylonitrile exports dropped sharply to $X in 2022. Over the period under review, exports, however, recorded strong growth. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then contracted significantly in the following year.

Exports by Country

Belarus (X tons), Poland (X tons) and Thailand (X tons) were the main destinations of styrene-acrylonitrile exports from Latvia, together accounting for X% of total exports. Ukraine, Estonia, Germany, the Netherlands and Lithuania lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) emerged as the key foreign market for styrene-acrylonitrile (san) and acrylonitrile-butadiene-styrene (abs) copolymers (in primary forms) exports from Latvia, comprising X% of total exports. The second position in the ranking was held by Belarus ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.

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

Export Prices by Country

The average styrene-acrylonitrile export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the export price showed a buoyant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

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

Styrene-Acrylonitrile Imports

Imports into Latvia

For the fourth year in a row, Latvia recorded decline in overseas purchases of styrene-acrylonitrile (san) and acrylonitrile-butadiene-styrene (abs) copolymers (in primary forms), which decreased by X% to X tons in 2022. Over the period under review, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, styrene-acrylonitrile imports expanded modestly to $X in 2022. Overall, imports, however, posted strong growth. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, South Korea (X tons) constituted the largest styrene-acrylonitrile supplier to Latvia, accounting for a X% share of total imports. Moreover, styrene-acrylonitrile imports from South Korea exceeded the figures recorded by the second-largest supplier, Finland (X tons), more than tenfold. France (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (X% per year) and France (X% per year).

In value terms, South Korea ($X) constituted the largest supplier of styrene-acrylonitrile (san) and acrylonitrile-butadiene-styrene (abs) copolymers (in primary forms) to Latvia, comprising X% of total imports. The second position in the ranking was taken by France ($X), with a X% share of total imports. It was followed by Finland, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and Finland (X% per year).

Import Prices by Country

The average styrene-acrylonitrile import price stood at $X per ton in 2022, jumping by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform