Vietnam: Styrene-Acrylonitrile Copolymers Market 2024

Styrene-Acrylonitrile Copolymers Market Size in Vietnam

The Vietnamese styrene-acrylonitrile copolymers market fell to $X in 2022, dropping by -8.1% 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 saw a pronounced decrease. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Styrene-Acrylonitrile Copolymers Exports

Exports from Vietnam

In 2022, the amount of styrene-acrylonitrile (san) copolymers in primary forms exported from Vietnam soared to X tons, picking up by 36% compared with the previous year. Over the period under review, exports posted a significant increase. The growth pace was the most rapid in 2017 with an increase of 331% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, styrene-acrylonitrile copolymers exports surged to $X in 2022. In general, exports saw significant growth. The pace of growth was the most pronounced in 2017 with an increase of 633%. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Canada (X tons) was the main destination for styrene-acrylonitrile copolymers exports from Vietnam, with a 66% share of total exports. Moreover, styrene-acrylonitrile copolymers exports to Canada exceeded the volume sent to the second major destination, China (X tons), fourfold. The third position in this ranking was taken by Malaysia (X tons), with a 5.7% share.

From 2012 to 2022, the average annual growth rate of volume to Canada totaled +35.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+59.9% per year) and Malaysia (+10.3% per year).

In value terms, Canada ($X) remains the key foreign market for styrene-acrylonitrile (san) copolymers in primary forms exports from Vietnam, comprising 65% of total exports. The second position in the ranking was held by Indonesia ($X), with a 23% share of total exports. It was followed by Malaysia, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value to Canada stood at +17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+90.9% per year) and Malaysia (-1.0% per year).

Export Prices by Country

In 2022, the average styrene-acrylonitrile copolymers export price amounted to $X per ton, increasing by 2.5% against the previous year. Over the period under review, the export price, however, saw a perceptible shrinkage. The growth pace was the most rapid in 2017 an increase of 70% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to China ($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 Bangladesh (-4.1%), while the prices for the other major destinations experienced a decline.

Styrene-Acrylonitrile Copolymers Imports

Imports into Vietnam

After five years of growth, overseas purchases of styrene-acrylonitrile (san) copolymers in primary forms decreased by -3.9% to X tons in 2022. Overall, imports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2017 when imports increased by 50% against the previous year. Imports peaked at X tons in 2021, and then contracted slightly in the following year.

In value terms, styrene-acrylonitrile copolymers imports shrank to $X in 2022. In general, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 64%. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of styrene-acrylonitrile copolymers to Vietnam, accounting for a 82% share of total imports. Moreover, styrene-acrylonitrile copolymers imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea amounted to +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+17.2% per year) and Taiwan (Chinese) (-6.5% per year).

In value terms, South Korea ($X) constituted the largest supplier of styrene-acrylonitrile (san) copolymers in primary forms to Vietnam, comprising 79% of total imports. The second position in the ranking was taken by China ($X), with a 7.1% share of total imports. It was followed by Taiwan (Chinese), with a 4.6% share.

From 2012 to 2022, the average annual growth rate of value from South Korea totaled +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+14.2% per year) and Taiwan (Chinese) (-6.4% per year).

Import Prices by Country

In 2022, the average styrene-acrylonitrile copolymers import price amounted to $X per ton, reducing by -4.5% against the previous year. Overall, the import price showed a mild contraction. The pace of growth was the most pronounced in 2021 an increase of 10% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Malaysia ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for South Korea ($X per ton) and Saudi Arabia ($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 (+16.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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