U.S. Boosts Acrylonitrile Supplies to Turkey, South Korea and the Netherlands
IndexBox has just published a new report: ‘U.S. – Acrylonitrile – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.
In 2020, American acrylonitrile exports rose by +49% y-o-y, reaching 524K tonnes. The U.S. has substantially increased the supplies to its main trade partners, including South Korea, Turkey and Taiwan. Boosting Turkish purchases provided the most increment of American exports. Among other importers, the Netherlands, Peru and Mexico featured a notable growth of acrylonitrile shipments from the U.S. The average export price for American acrylonitrile dropped by -31% to $1,051 per tonne in 2020.
American Acrylonitrile Exports
In 2020, approx. 524K tonnes of acrylonitrile were exported from the U.S., increasing by +49% compared with the previous year’s figure. In value terms, acrylonitrile exports grew by +3.1% y-o-y to $551M (IndexBox estimates) in 2020.
In value terms, the largest markets for acrylonitrile exported from the U.S. were South Korea ($176M), Turkey ($112M) and Taiwan ($74M), with a combined 66% share of total exports.
South Korea (158K tonnes), Turkey (115K tonnes) and Taiwan (Chinese) (69K tonnes) were the main destinations of acrylonitrile exports from the U.S., together accounting for 65% of total exports. Mexico, India, the Netherlands and Peru lagged somewhat behind, together comprising a further 29%.
Turkey boosted the purchases from the U.S. from 41.8K tonnes in 2019 to 115K tonnes in 2020. South Korea and Taiwan increased their imports from America by +28.7% y-o-y and +31.4% y-o-y, respectively. The supplies to the Netherlands rose from 8.7K tonnes in 2019 to 25.1K tonnes in 2020, while Peru ramped up the imports from 7.9K tonnes to 18.4K tonnes over this period. Mexican purchases saw a 16%-growth over the last year.
In 2020, the average acrylonitrile export price amounted to $1,051 per tonne, with a decrease of -30.8% against the previous year. Average prices varied noticeably for the major foreign markets. In 2020, the highest prices were recorded for prices to Mexico ($1,120 per tonne) and South Korea ($1,115 per tonne), while the average price for exports to Peru ($926 per tonne) and Turkey ($970 per tonne) were amongst the lowest. In 2020, the most notable growth rate in terms of prices was recorded for supplies to Taiwan, while the prices for the other major destinations experienced a decline.
Source: IndexBox Platform