Quarter Ending September 2025
North America
• In USA, the Styrene Acrylonitrile Price Index fell by 1.2% quarter-over-quarter, reflecting weak downstream demand.
• The average Styrene Acrylonitrile price for the quarter was approximately USD 2183.33/MT, reflecting range-bound trading.
• Styrene Acrylonitrile Spot Price pressure persisted as buyers delayed purchases, ample domestic supply and plants.
• Analysis of Styrene Acrylonitrile Production Cost Trend shows limited cost-push from cheaper styrene and energy.
• The Styrene Acrylonitrile Price Index has been range-bound, with neutral sentiment and logistical cost impacts.
• Export demand to Latin America and Gulf disruptions could tighten supply, supporting spot price upticks.
Why did the price of Styrene Acrylonitrile change in September 2025 in North America?
• Balanced domestic production and steady inventories limited price upside while maintaining adequate market supply levels.
• Weak downstream demand from electronics and packaging sectors reduced procurement urgency and softened SAN offtake.
• Lower feedstock styrene costs and stable logistics dampened production cost pressures, restraining upward price momentum.
APAC
• In Indonesia, the Styrene Acrylonitrile Price Index fell by 2.38% quarter-over-quarter, reflecting moderate oversupply pressure.
• The average Styrene Acrylonitrile price for the quarter was approximately USD 1325.33/MT, CFR-basis.
• Styrene Acrylonitrile Spot Price remained range bound as balanced imports and steady feedstock costs limited upside.
• Styrene Acrylonitrile Production Cost Trend softened as lower styrene and naphtha prices improved margins modestly.
• High inventories across markets and imports pressured Styrene Acrylonitrile Price Index, limiting seller pricing power.
Why did the price of Styrene Acrylonitrile change in September 2025 in APAC?
• Moderating downstream demand after restocking reduced buying and weighed on Styrene Acrylonitrile Price Index
• Ample import supply and high inventories pressured offers, while freight and currency volatility added uncertainty
• Lower styrene and naphtha costs eased production cost trends, but did not stimulate procurement activity
Europe
• In France, the Styrene Acrylonitrile Price Index fell by 11% quarter-over-quarter, due to weak demand and ample supply.
• The average Styrene Acrylonitrile price for the quarter was approximately USD 2506.00/MT.
• Styrene Acrylonitrile Spot Price weakened amid steady imports, keeping domestic Price Index under ongoing downward pressure.
• The Styrene Acrylonitrile Production Cost Trend eased as lower styrene and naphtha reduced upstream cost support.
• Elevated inventories and competitive import offers pressured the Price Index, constraining spot offtake and negotiating leverage.
• Major French producers kept normal operating rates, sustaining output and limiting upward pressure on Spot Price.
Why did the price of Styrene Acrylonitrile change in September 2025 in Europe?
• Ample styrene and acrylonitrile inflows maintained plentiful supply, removing scarcity premiums and weakening September Price Index.
• Lower feedstock and naphtha costs eased production cost pressure, reducing urgency for run cuts in September.
• Muted downstream demand and high domestic inventories limited buying, while exports only partially absorbed surplus volumes.
South America
• In Brazil, the Styrene Acrylonitrile Price Index rose nominally by 0.11% quarter-over-quarter, reflecting marginal supply tightness.
• The average Styrene Acrylonitrile price for the quarter was approximately USD 2045.33/MT, signaling stable equilibrium.
• Stable supply and elevated inventories kept Styrene Acrylonitrile Spot Price range-bound, restraining the Price Index.
• Lower styrene feedstock eased the Styrene Acrylonitrile Production Cost Trend, limiting producers' margin-driven price increases.
• Port congestion and delayed imports intermittently tightened supply, nudging the Styrene Acrylonitrile Price Index upwards.
• Steady plant runs, and export inquiries limited volatility, keeping Styrene Acrylonitrile Price Index movements largely contained.
Why did the price of Styrene Acrylonitrile change in September 2025 in South America?
• High downstream inventories reduced urgent buying, weakening demand and applying downward pressure on Price Index.
• Moderate styrene feedstock costs eased production economics; Production Cost Trend did not support price increases.
• Port congestion and intermittent freight delays affected import timing, creating localized supply tightness and caution.
For the Quarter Ending June 2025
North America
• The Styrene Acrylonitrile Price Index in the U.S. showed a modest decline in Q2 2025, following a continuation of bearish momentum from Q1 amid persistent weak downstream demand.
• In April, subdued procurement from the automotive and electronics segments tempered pricing sentiment despite average feedstock levels.
• May remained flat as weak contract volumes persisted, and inventory levels remained elevated at key converter hubs.
• In June 2025, prices dipped further as feedstock pressures eased and buyers deferred purchases, leading to soft offtake through the quarter close.
• The Styrene Acrylonitrile Production Cost Trend softened in Q2 due to easing styrene and acrylonitrile feedstock prices and controlled logistic costs.
• The Styrene Acrylonitrile Demand Outlook remained subdued, with weak activity from core sectors like automotive, electronics, and appliance moulding despite stable downstream interest.
Why did the price of Styrene Acrylonitrile remain lower in July 2025 in North America?
• In July 2025, the Price Index remained average as downstream demand stayed muted amid slow restocking.
• The Q3 Styrene Acrylonitrile Price Forecast expects range bound to slightly soft pricing unless industrial orders strengthen.
APAC
• In China, the Styrene Acrylonitrile Price Index exhibited fluctuating movement across Q2 2025 as upstream styrene and acrylonitrile feedstock costs underwent alternating pressures.
• In April, SAN prices remained stable amid moderate demand from electronics and packaging industries, while raw material styrene showed mild increases.
• During May, the market witnessed a downward correction as acrylonitrile prices fell slightly, and downstream converters limited fresh procurement amid sufficient stocks.
• In June 2025, SAN prices rose again modestly, supported by a marginal recovery in feedstock styrene and improving sentiments in the home appliances segment.
• The Styrene Acrylonitrile Production Cost Trend remained manageable through Q2 2025 as upstream volatility balanced out by quarter-end.
• The Styrene Acrylonitrile Demand Outlook in China was steady, with appliance manufacturing, automotive interiors, and electronics sectors offering consistent offtake through Q2.
Why did the price of Styrene Acrylonitrile change in July 2025 in China?
• In July 2025, the Price Index saw mild improvement due to short-term restocking and modest feedstock gains.
• The Q3 Styrene Acrylonitrile Price Forecast indicates cautious optimism, supported by seasonal downstream inquiries.
Europe
• In Germany, the Styrene Acrylonitrile Price Index showcased a mixed trend across Q2 2025, reflecting intermittent demand and modest volatility in feedstock pricing.
• During April and May, SAN prices remained lower as downstream automotive and packaging sectors showed average offtake, while feedstock costs were largely neutral.
• In June 2025, prices corrected further, pressured by a slowdown in procurement from buyers awaiting clearer signals on raw material movement.
• The Styrene Acrylonitrile Production Cost Trend remained steady in Q2, supported by normalized input prices and smooth logistics operations across central Europe.
• The Styrene Acrylonitrile Demand Outlook remained cautiously optimistic, with moderate activity in the electronics, automotive interiors, and consumer goods sectors.
Why did the price of Styrene Acrylonitrile change in July 2025 in Germany?
• In July 2025, the Price Index decreased further due to average demand from moulding applications.
• The Q3 Styrene Acrylonitrile Price Forecast points to mild price movement barring major feedstock swings.
For the Quarter Ending March 2025
North America
The Styrene Acrylonitrile (SAN) market in North America remained largely bearish during the first quarter of 2025. Market sentiment was cautious throughout the quarter due to weak downstream demand, particularly from the electronics and automobile industries. January began with reduced procurement, and manufacturers reported limited contract volumes amid high inventory levels.
February saw a brief stabilization in market sentiment as downstream plastic companies initiated short-term restocking. However, demand remained inconsistent, and overall market activity was restrained. By March, SAN prices had dropped by approximately 1.8% from January levels, driven by decreased offtakes and reduced raw material costs. Feedstock prices for styrene and acrylonitrile were mostly average, offering limited cost pressure. Domestic production ran at moderate rates, with no significant supply disruptions.
Export activity stayed weak due to reduced buying interest from Latin American countries. The oversupplied conditions and conservative downstream buying patterns kept price gains in check. Market players adopted a wait-and-see approach, anticipating improved seasonal demand in the coming quarter, and the SAN market closed the quarter with prices at USD 2,230 per MT.
APAC
The Asia-Pacific SAN market displayed mixed trends across Q1 2025, heavily influenced by seasonal disruptions and regional feedstock dynamics. In China, SAN prices declined steadily, registering a cumulative 2.1% drop from January to March amid bearish downstream demand and lower styrene costs. The Lunar New Year holiday in February further affected the productions and procurement activities. India witnessed fluctuations during the quarter, with prices dropping during the initial days, before rebounding in mid-March on the back of strong demand from the automobiles and electronics sectors. South Korea’s market remained under pressure, with prices falling by around 2% over the quarter due to limited export activity and average domestic consumption. In Indonesia, SAN prices decreased gradually as Ramadan-induced slowdowns weighed on automobiles and electronics demand. Import availability across the region remained sufficient, and manufacturers operated cautiously. Despite marginal restocking in March, overall sentiment remained moderate, with downstream buyers being concerned of further price corrections. Production costs saw minimal volatility, resulting in a stable-to-average pricing tone throughout Q1.
Europe
The European SAN market observed moderate movement through Q1 2025, reflecting limited demand and a balanced supply scenario. In Germany, the quarter commenced with stable pricing in January as downstream industries, particularly household appliances and automobiles, maintained average usage levels. February showed slight signs of restocking, particularly among plastic companies anticipating spring demand. However, limited buying interest from the packaging and electronics sectors constrained price growth. In March, SAN prices saw a decline of 1.1%, primarily due to reducing demand and increased inventory levels in the market. Feedstock prices for styrene and acrylonitrile remained largely average during the period, offering no significant cost support for manufacturers. Domestic production was consistent, but several suppliers adopted flexible operating rates to manage oversupply. Export volumes remained low, particularly to Eastern European and Turkish markets. Overall, the European SAN market came across Q1 with limited volatility, shaped by the reduced performance of the downstream companies and cautious procurement practices, while market participants closely watched the demand conditions heading into the upcoming quarter.
South America
In Q1 2025, the South American SAN market experienced mild fluctuations, supported by balanced supply but constrained by slow industrial demand. Prices of SAN in Brazil settled at USD 1,535/MT by the end of March, reflecting only a nominal decline from January, attributed to steady but moderate procurement from packaging and household appliances segments. The automobiles sector struggled with bearish retail momentum due to higher interest rates and macroeconomic concerns, limiting SAN usage in interior components. February witnessed a brief growth in activity due to seasonal restocking, but March saw reduction in demand as downstream manufacturers prioritized average inventories. Import availability from Asia remained uninterrupted, keeping domestic supply adequate across major markets like Argentina, Chile, and Brazil. Feedstock costs did not exert significant pressure on production margins. Local manufacturers operated at conservative rates to align with regional usage patterns. The overall market remained normal, with expectations of slight improvement in Q2 as infrastructure and automobile investments are expected to rebound in key economies in the region.
For the Quarter Ending December 2024
North America
In Q4 2024, the styrene acrylonitrile (SAN) market in North America encountered a challenging landscape characterized by oversupply and fluctuating demand across key sectors. The automotive industry experienced a notable slowdown as rising interest rates curtailed new vehicle production and renovations. This decline led to reduced orders for SAN products used primarily for automotive applications, creating pressure on manufacturers who had previously ramped up production levels.
However, the packaging sector emerged as a bright spot due to sustained demand from e-commerce. The need for lightweight and protective packaging solutions drove increased usage of SAN in various applications such as food packaging and consumer goods. Manufacturers focused on enhancing product performance while addressing sustainability concerns through innovations in recycled content and alternative materials that align with consumer preferences for greener options.
By December, while some producers adjusted their inventories due to shifting demand patterns from construction and consumer goods sectors, overall sentiment remained cautiously optimistic. Stakeholders anticipated gradual recovery into 2025 as construction activities began to stabilize and innovations in sustainable packaging gained traction within regulatory frameworks aimed at reducing plastic waste. The emphasis on eco-friendly practices was expected to shape future market dynamics significantly across North America.
APAC
In Q4 2024, the styrene acrylonitrile (SAN) market in the APAC region, particularly in China, faced significant challenges due to a combination of oversupply and weakening demand. The automotive sector, a major consumer of SAN for interior components, experienced a downturn as economic uncertainties led to reduced vehicle production and consumer spending. This decline resulted in decreased orders for SAN products, prompting manufacturers to reevaluate their production strategies and manage high inventory levels.
Conversely, the electronics industry showed resilience, with steady demand for SAN in applications such as casings and housings due to its excellent impact resistance and aesthetic qualities. However, rising feedstock costs and logistical challenges continued to affect profitability across the board. Manufacturers began investing in research and development to create more sustainable SAN formulations that align with increasing regulatory pressures regarding plastic use.
By December, while some producers struggled with excess inventory and fluctuating demand patterns, there was cautious optimism about recovery in 2025. Stakeholders anticipated that innovations in sustainable practices would drive future growth as the market adapts to changing consumer preferences and regulatory landscapes.
Europe
In Q4 2024, the styrene acrylonitrile (SAN) market in Europe faced significant challenges primarily due to economic uncertainties impacting key industries such as automotive and consumer goods. The automotive sector struggled with declining production rates as manufacturers contended with supply chain disruptions and reduced consumer demand for new vehicles. This downturn resulted in decreased orders for SAN used in automotive applications like dashboards and trim components, leading to excess inventory among producers.
Despite these challenges, the packaging industry remained relatively stable. The surge in e-commerce created increased demand for SAN in packaging applications due to its lightweight yet durable properties. However, heightened environmental regulations prompted many companies to explore alternatives to traditional SAN formulations, focusing on recyclable or biodegradable options.
By December, manufacturers grappled with high inventory levels due to decreased consumption across various sectors. Nevertheless, there was cautious optimism regarding future growth driven by innovations in sustainable materials and recycling initiatives. Stakeholders expected that regulatory support for eco-friendly practices would significantly influence market dynamics moving into 2025 as industries adapt to stricter environmental standards.
South America
In Q4 2024, the styrene acrylonitrile (SAN) market in South America demonstrated resilience despite ongoing economic fluctuations affecting various industries. The construction sector continued to be a significant driver of demand for SAN products used in insulation and structural applications. Government-led infrastructure projects across Brazil and Argentina supported this trend as part of broader efforts to stimulate economic growth following pandemic-related slowdowns.
The packaging industry also contributed positively as consumer preferences shifted towards online shopping, increasing the need for effective protective packaging solutions utilizing styrene-based materials. However, challenges such as inflationary pressures and currency fluctuations impacted production costs and pricing strategies for manufacturers operating in this volatile environment.
By December, while some manufacturers faced supply chain disruptions affecting raw material availability and logistics costs, overall market sentiment remained optimistic. Stakeholders anticipated growth into 2025 driven by ongoing infrastructure investments and innovations aimed at enhancing sustainability within styrene applications. The focus on eco-friendly alternatives was expected to significantly shape future market dynamics across South America as companies sought to align with global sustainability trends while navigating local economic challenges.
