Philippines: Styrene-Acrylonitrile Market 2024

Styrene-Acrylonitrile Market Size in the Philippines

The Philippine styrene-acrylonitrile market shrank to $X in 2022, reducing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a resilient increase. Over the period under review, the market attained the peak level at $X in 2021, and then reduced slightly in the following year.

Styrene-Acrylonitrile Exports

Exports from the Philippines

In 2022, styrene-acrylonitrile exports from the Philippines soared to X tons, increasing by X% compared with the previous year's figure. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, styrene-acrylonitrile exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

China (X tons) was the main destination for styrene-acrylonitrile exports from the Philippines, accounting for a X% share of total exports. Moreover, styrene-acrylonitrile exports to China exceeded the volume sent to the second major destination, South Korea (X tons), sevenfold. The third position in this ranking was taken by Japan (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Japan (X% per year).

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

From 2012 to 2022, the average annual growth rate of value to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and South Korea (X% per year).

Export Prices by Country

The average styrene-acrylonitrile export price stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the export price saw a noticeable reduction. The growth pace was the most rapid in 2015 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to China ($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 Hong Kong SAR (X%), while the prices for the other major destinations experienced a decline.

Styrene-Acrylonitrile Imports

Imports into the Philippines

Styrene-acrylonitrile imports into the Philippines expanded sharply to X tons in 2022, increasing by X% compared with the previous year's figure. In general, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, styrene-acrylonitrile imports rose significantly to $X in 2022. Over the period under review, imports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Taiwan (Chinese) (X tons), South Korea (X tons) and China (X tons) were the main suppliers of styrene-acrylonitrile imports to the Philippines, with a combined X% share of total imports. Malaysia, Japan, Thailand, Indonesia and Singapore lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), China ($X) and South Korea ($X) appeared to be the largest styrene-acrylonitrile suppliers to the Philippines, together comprising X% of total imports. Malaysia, Japan, Thailand, Singapore and Indonesia lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Indonesia, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average styrene-acrylonitrile import price stood at $X per ton in 2022, falling by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :