Vietnam: Styrene-Acrylonitrile Market 2024

Styrene-Acrylonitrile Market Size in Vietnam

In 2022, after two years of growth, there was significant decline in the Vietnamese styrene-acrylonitrile market, when its value decreased by X% to $X. Over the period under review, the total consumption indicated a buoyant increase 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 increased by X% against 2019 indices. As a result, consumption reached the peak level of $X, and then reduced dramatically in the following year.

Styrene-Acrylonitrile Exports

Exports from Vietnam

In 2022, the amount of styrene-acrylonitrile (san) and acrylonitrile-butadiene-styrene (abs) copolymers (in primary forms) exported from Vietnam reduced modestly to X tons, waning by X% on the previous year's figure. Over the period under review, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, styrene-acrylonitrile exports shrank to $X in 2022. In general, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

China (X tons) was the main destination for styrene-acrylonitrile exports from Vietnam, accounting for a X% share of total exports. Moreover, styrene-acrylonitrile exports to China exceeded the volume sent to the second major destination, Thailand (X tons), fivefold. The third position in this ranking was taken by Malaysia (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: Thailand (X% per year) and Malaysia (X% per year).

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

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

Export Prices by Country

In 2022, the average styrene-acrylonitrile export price amounted to $X per ton, reducing by X% against the previous year. Overall, the export price saw a pronounced decline. The pace of growth was the most pronounced in 2013 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Malaysia ($X per ton) and South Korea ($X per ton), while the average price for exports to Thailand ($X per ton) and China ($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 China (X%), while the prices for the other major destinations experienced a decline.

Styrene-Acrylonitrile Imports

Imports into Vietnam

In 2022, purchases abroad of styrene-acrylonitrile (san) and acrylonitrile-butadiene-styrene (abs) copolymers (in primary forms) decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, recorded prominent growth. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, styrene-acrylonitrile imports contracted markedly to $X in 2022. Over the period under review, imports, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2017 with an increase of X%. Imports peaked at $X in 2021, and then declined notably in the following year.

Imports by Country

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

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

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

Import Prices by Country

In 2022, the average styrene-acrylonitrile import price amounted to $X per ton, which is down by X% against the previous year. Overall, the import price continues to indicate a mild setback. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Thailand ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for Japan ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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