Republic of Korea: Styrene-Acrylonitrile Market 2024

Styrene-Acrylonitrile Market Size in Republic of Korea

In 2022, the South Korean styrene-acrylonitrile market increased by X% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption, however, recorded a noticeable slump. Styrene-acrylonitrile consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Styrene-Acrylonitrile Production in Republic of Korea

In value terms, styrene-acrylonitrile production shrank slightly to $X in 2022 estimated in export price. In general, production continues to indicate a noticeable reduction. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Styrene-acrylonitrile production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Styrene-Acrylonitrile Exports

Exports from Republic of Korea

In 2022, shipments 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 six years of growth. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, styrene-acrylonitrile exports shrank rapidly to $X in 2022. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then fell remarkably in the following year.

Exports by Country

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

From 2012 to 2022, the average annual rate of growth in terms of volume to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Turkey (X% per year).

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

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Mexico (X% per year).

Export Prices by Country

In 2022, the average styrene-acrylonitrile export price amounted to $X per ton, waning by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($X per ton) and Mexico ($X per ton), while the average price for exports to China ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced mixed trend patterns.

Styrene-Acrylonitrile Imports

Imports into Republic of Korea

In 2022, the amount of styrene-acrylonitrile (san) and acrylonitrile-butadiene-styrene (abs) copolymers (in primary forms) imported into South Korea contracted sharply to X tons, which is down by X% on 2021 figures. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then dropped significantly in the following year.

In value terms, styrene-acrylonitrile imports contracted dramatically to $X in 2022. Over the period under review, imports saw a mild reduction. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then shrank remarkably in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of styrene-acrylonitrile to South Korea, with a X% share of total imports. Moreover, styrene-acrylonitrile imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The third position in this ranking was taken by Thailand (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Thailand (X% per year).

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

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the average styrene-acrylonitrile import price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price continues to indicate a perceptible contraction. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 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 Japan ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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