Steady movement of Styrene Acrylonitrile captured in the global market
- 26-Apr-2022 3:17 PM
- Journalist: Henry Locke
The market sentiments of Styrene Acrylonitrile (SAN) remained stagnant in the global market owing to the fluctuating prices of upstream elements, Styrene and Acrylonitrile. The continuing war between Russia and Ukraine has affected the crude oil resources of the global market, consequently showing its impact on the production cost of Styrene Acrylonitrile (SAN). The price quotations of SAN were observed as $2180/ton, CFR Qingdao, China, on 22nd April.
Benzene and ethylene are the major upstream components of Styrene Monomer, and any sporadic changes in the prices of crude oil affects the production cost of Styrene Acrylonitrile (SAN). SAN is a form of plastic having its vast application in cosmetics and pharmaceutical industries as the body material of the product requires Styrene Acrylonitrile (SAN) as its upstream element. In the Asian market, the market position of Styrene Acrylonitrile (SAN) showcased sturdy nature because of sluggish demand from downstream sectors accompanied by the availability of raw materials from the manufacturers. Zhejiang Petrochemicals in China resumed the production of Styrene Monomer recently, as SAN production was terminated temporarily because of some technical faults in the plant. With the start of production, feed availability to export the material in the overseas market will also witness a hike. The North American market has followed the same trend, as the prices of SAN remained static along with the prices of upstream Styrene and Acrylonitrile in the regional market. Although the US region dominates the global market in the cosmetics and personal care sectors, the prices of SAN beheld the stagnancy. One of the major causes is the competitive scenario among the manufacturers. SAN is a non-biodegradable product showing its adverse effects on the environment and health. Rules and regulations implemented by the government officials of many countries have suppressed the market sentiments of SAN as the demand for biodegradable plastics has increased.
Consequently, weak demand from downstream sectors such as cosmetics and pharmaceutical industries has driven the market sentiments of SAN in the American market. On the other hand, SAN has witnessed a hike in the prices due to feedstock shortage by the supplying countries as the region is suffering from port congestion. These facets have influenced the market sentiments of Styrene Acrylonitrile (SAN) globally.
As per ChemAnalyst, the market sentiments of Styrene Acrylonitrile (SAN) may show slight growth in the upcoming weeks owing to the escalating prices of crude oil. With the surge in raw material prices along with a demand from downstream sectors such as containers and cosmetics products, the market sentiments of SAN will also spike.