Asia: Acrylonitrile Market 2024

Acrylonitrile Market Size in Asia

The Asian acrylonitrile market fell to $X in 2023, with a decrease of X% against the previous year. Over the period under review, consumption recorded a pronounced setback. As a result, consumption attained the peak level of $X. From 2019 to 2023, the growth of the market remained at a somewhat lower figure.

Acrylonitrile Production in Asia

In value terms, acrylonitrile production rose remarkably to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Acrylonitrile Exports

Exports in Asia

In 2023, acrylonitrile exports in Asia fell to X tons, with a decrease of X% against 2022. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, acrylonitrile exports contracted to $X in 2023. Over the period under review, exports, however, recorded modest growth. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

The shipments of the three major exporters of acrylonitrile, namely South Korea, China and Taiwan (Chinese), represented more than two-thirds of total export. Thailand (X tons) took the next position in the ranking, followed by Japan (X tons). All these countries together took approx. X% share of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for China (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest acrylonitrile supplying countries in Asia were South Korea ($X), Taiwan (Chinese) ($X) and China ($X), with a combined X% share of total exports.

China, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Asia amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price recorded a slight decline. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2022 to 2023, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced mixed trends in the export price figures.

Acrylonitrile Imports

Imports in Asia

After two years of decline, purchases abroad of acrylonitrile increased by X% to X tons in 2023. Over the period under review, imports, however, recorded a mild descent. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

In value terms, acrylonitrile imports dropped modestly to $X in 2023. In general, imports, however, recorded a perceptible contraction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2023, imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of acrylonitrile, namely India, China and South Korea, represented more than two-thirds of total import. Malaysia (X tons) took the next position in the ranking, followed by Taiwan (Chinese) (X tons). All these countries together held approx. X% share of total imports. The following importers - Thailand (X tons) and Iran (X tons) - each accounted for a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Iran (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest acrylonitrile importing markets in Asia were South Korea ($X), India ($X) and China ($X), with a combined X% share of total imports. Taiwan (Chinese), Malaysia, Iran and Thailand lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Iran, with a CAGR of X%, saw the highest rates of growth with regard to 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 import price in Asia stood at $X per ton in 2023, waning by X% against the previous year. Overall, the import price recorded a slight contraction. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2022 to 2023, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Iran ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Iran (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform