Global Acrylonitrile Market - U.S. Emerges As the Leading Supplier of Acrylonitrile, with a 30% share

IndexBox has just published a new report: 'World - Acrylonitrile - Market Analysis, Forecast, Size, Trends And Insights'. Here is a summary of the report's key findings.

Global Acrylonitrile Trade 2008-2018

Global exports totaled 1.7M tonnes in 2018, surging by 12% against the previous year. The total export volume increased at an average annual rate of +1.2% from 2013 to 2018.

In value terms, acrylonitrile exports amounted to $3B (IndexBox estimates) in 2018. Over the period under review, the total exports indicated a mild expansion from 2013 to 2018: its value increased at an average annual rate of +1.2% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, acrylonitrile exports increased by +96.1% against 2016 indices.

Exports by Country

The U.S. represented the major exporter of acrylonitrile in the world, with the volume of exports accounting for 504K tonnes, which was approx. 30% of total exports in 2018. South Korea (231K tonnes) held the second position in the ranking, followed by Taiwan, Chinese (214K tonnes), the UK (159K tonnes), Russia (134K tonnes), Germany (107K tonnes) and Brazil (82K tonnes). All these countries together held approx. 56% share of total exports.

From 2013 to 2018, average annual rates of growth with regard to acrylonitrile exports from the U.S. stood at +2.4%. At the same time, Germany (+14.3%), Brazil (+13.3%), Taiwan (+4.1%) and Russia (+2.3%) displayed positive paces of growth. Moreover, Germany emerged as the fastest-growing exporter exported in the world, with a CAGR of +14.3% from 2013-2018. By contrast, the UK (-1.7%) and South Korea (-5.4%) illustrated a downward trend over the same period. While the share of the U.S. (+3.4 p.p.), Germany (+3.1 p.p.), Taiwan, Chinese (+2.3 p.p.) and Brazil (+2.3 p.p.) increased significantly in terms of the global exports from 2013-2018, the share of South Korea (-4.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($954M) remains the largest acrylonitrile supplier worldwide, comprising 32% of global exports. The second position in the ranking was occupied by South Korea ($426M), with a 14% share of global exports. It was followed by Taiwan, Chinese, with a 14% share.

From 2013 to 2018, the average annual growth rate of value in the U.S. amounted to +3.2%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (-4.2% per year) and Taiwan, Chinese (+6.1% per year).

Export Prices by Country

In 2018, the average acrylonitrile export price amounted to $1,797 per tonne, increasing by 25% against the previous year. Overall, the acrylonitrile export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 31% against the previous year. The global export price peaked at $1,869 per tonne in 2014; however, from 2015 to 2018, export prices failed to regain their momentum.

Average prices varied somewhat amongst the major exporting countries. In 2018, major exporting countries recorded the following prices: in Taiwan ($1,905 per tonne) and the U.S. ($1,891 per tonne), while Russia ($1,422 per tonne) and Germany ($1,684 per tonne) were amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was attained by Brazil, while the other global leaders experienced more modest paces of growth.

Imports by Country

In 2018, China (258K tonnes), Turkey (240K tonnes), India (178K tonnes) and South Korea (169K tonnes) represented the key importer of acrylonitrile in the world, generating 48% of total import. Taiwan (109K tonnes) occupied the next position in the ranking, followed by Belgium (107K tonnes), France (103K tonnes) and Mexico (94K tonnes). All these countries together took approx. 23% share of total imports. Germany (71K tonnes), the Netherlands (64K tonnes), Egypt (50K tonnes) and Portugal (46K tonnes) followed a long way behind the leaders.

From 2013 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Egypt, while imports for the other global leaders experienced more modest paces of growth.

In value terms, China ($377M), Turkey ($376M) and India ($360M) appeared to be the countries with the highest levels of imports in 2018, with a combined 37% share of global imports.

Source: IndexBox Platform