Home News EU SAN IMPORT RESILIENCE IN 2023

EU SAN IMPORT RESILIENCE IN 2023

February 26, 2024
shipping containers

EU SAN import resilience amid weak demand in 2023 versus 2022. Despite facing a year of tepid demand in the downstream markets, the European Union’s (EU) import of Styrene Acrylonitrile (SAN) has displayed a remarkable resilience.

In 2023, the EU’s SAN imports experienced a slight contraction, yet this modest decrease suggests that imports are carving out a larger market share within the region, according to the latest data from Eurostat.

In comparison to 2022, the total import figures dipped from 41,618 metric tons (MT) to 39,128 MT in 2023. This slight decline in import volume reflects a broader trend of low demand throughout the past year.

South Korea continued to be the leading SAN supplier to the EU, despite its imports decreasing marginally from 34,241 MT in 2022 to 33,923 MT in 2023.

Imports from other partners like Malaysia and the United States also saw reductions, though these changes were relatively minor.

On the flip side, the EU SAN exports witnessed a positive shift, albeit smaller in scale. Exports of SAN climbed from 7,105 MT in 2022 to 10,082 MT in 2023. The significant growth in exports to Turkey, rising to 2,249 MT, alongside increases to the United Kingdom and Israel.

As current prices are increasing, import will remain attractive despite the poor demand in downstream markets, adding more strain domestic suppliers.