Track Styrene Acrylonitrile (SAN) Price Trend Historical and Forecast

Executive Summary

The global Styrene Acrylonitrile (SAN) market experienced a period of muted price movements through 2024 and 2025, driven largely by subdued downstream demand, ample supply, and moderate feedstock price fluctuations. Across North America, APAC, and Europe, SAN prices remained largely range-bound, with slight downward corrections in key markets due to high inventories, cautious procurement, and stable production costs.

In North America, weak demand from electronics, automotive, and packaging sectors constrained price growth, while adequate domestic supply and limited export activity kept spot prices range-bound. APAC markets, particularly China and Indonesia, observed mild corrections due to moderated restocking, balanced imports, and soft feedstock trends. Europe faced sharper quarterly declines, especially in France and Germany, where abundant inventories and competitive import offers pressured pricing.

Looking forward, SAN price trends are expected to remain cautious, with range-bound movement prevailing unless a significant surge in industrial orders or feedstock volatility alters the current market equilibrium. Supply-chain disruptions, port congestion, and export demand remain potential variables that could temporarily influence spot pricing and procurement strategies.

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Introduction

Styrene Acrylonitrile (SAN) is a copolymer of styrene and acrylonitrile, prized for its strength, chemical resistance, and transparency. It finds extensive applications in electronics, packaging, household appliances, automotive interior components, and consumer goods. As a specialty polymer, SAN pricing is sensitive to both upstream feedstock costs-particularly styrene and acrylonitrile-and downstream demand fluctuations across industrial sectors.

Over the last few quarters, global SAN prices have exhibited moderate volatility, reflecting a delicate balance between ample supply, cautious downstream procurement, and stable production costs. Understanding these price movements, alongside supply-chain dynamics and regional variations, is essential for manufacturers, converters, and procurement teams aiming to optimize sourcing strategies.

Global Price Overview

Globally, SAN prices have largely remained range-bound through Q1-Q3 2025. Key observations include:

Price indices in major markets showed minor quarter-over-quarter changes, with North America experiencing a slight decline of 1.2% in Q3 2025, APAC markets like Indonesia declining 2.38%, and Europe, particularly France, witnessing sharper drops of 11% in the same period.
Spot price behavior remained subdued, as buyers delayed purchases amid high inventories and balanced domestic and imported supply.
Production costs softened in all regions, driven by lower styrene and naphtha prices, reducing the cost-push effect on SAN prices.
Trade and logistics factors, including port congestion in South America and freight volatility in APAC, caused intermittent localized price pressures but did not trigger broad market spikes.
Overall, SAN pricing reflects a market in equilibrium, influenced by downstream demand softness, ample supply, and stable production economics, with occasional fluctuations due to trade-flow disruptions.

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Regional Analysis

North America

Q3 2025 Overview

In the U.S., the SAN Price Index declined modestly by 1.2% quarter-over-quarter, with the average price hovering around USD 2183.33/MT. The quarter was characterized by range-bound trading and persistent spot price pressure as buyers delayed procurement amid sufficient inventories and stable plant operations.

Key Drivers of Price Movements:

Balanced domestic production maintained adequate supply levels, preventing sharp price increases.
Weak downstream demand from electronics and packaging sectors limited urgency for fresh procurement.
Lower feedstock costs for styrene, coupled with stable logistics, constrained cost pressures and moderated price upside.
Export and trade impacts: Export demand to Latin America and intermittent Gulf disruptions offered some support for spot price upticks but remained limited.

Q2 2025 Review

During Q2 2025, SAN prices in North America exhibited a modest decline. Prices in April softened due to subdued procurement from automotive and electronics segments. May remained largely flat, reflecting elevated inventories at key converter hubs, while June saw further price dips as buyers deferred purchases. Production costs eased through the quarter due to declining styrene and acrylonitrile feedstock prices and controlled logistics.

Procurement Behavior: Buyers adopted a cautious approach, prioritizing inventory management over aggressive purchasing. Weak activity from core industrial sectors resulted in range-bound prices.

Q1 2025 and Q4 2024 Context

In Q1 2025, SAN prices began the year bearish, with cautious sentiment and limited contract volumes amid high inventories. Export activity to Latin America was weak, contributing to oversupply conditions. In Q4 2024, the market faced a challenging landscape, with oversupply in key sectors such as automotive due to rising interest rates, though packaging demand partially offset the downturn.

Outlook: Range-bound to slightly soft pricing is expected through the remainder of 2025 unless industrial orders or feedstock volatility create upward momentum.

APAC

Q3 2025 Overview

In Indonesia, SAN prices declined by 2.38%, averaging USD 1325.33/MT on a CFR basis. Spot prices remained range-bound due to balanced imports, steady feedstock costs, and ample inventories.

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Key Drivers of Price Movements:

Moderate oversupply in regional markets constrained seller pricing power.
Soft downstream demand post-restocking reduced immediate buying interest.
Feedstock trends: Lower styrene and naphtha prices slightly improved margins but did not incentivize increased procurement.
Logistics and trade factors: Freight volatility and currency fluctuations created some market uncertainty, but overall impacts were limited.
Q2 2025 Review

China's SAN market in Q2 displayed fluctuating trends. Prices remained stable in April due to moderate demand from electronics and packaging industries, declined in May amid acrylonitrile price drops, and recovered slightly in June on feedstock gains and improved appliance manufacturing sentiment. Production costs were manageable throughout the quarter.

Procurement Behavior: Buyers remained cautious, engaging in modest restocking but avoiding aggressive purchases due to sufficient inventory levels and balanced import supply.

Q1 2025 and Q4 2024 Context

In Q1 2025, APAC markets observed mixed trends influenced by seasonal disruptions, the Lunar New Year, and Ramadan-related slowdowns. Prices fell in China and South Korea, while India experienced mid-quarter rebounds due to sectoral demand. In Q4 2024, oversupply and weakening automotive demand pressured SAN prices, though electronics and packaging segments offered moderate support.

Outlook: Cautious optimism prevails, with prices expected to remain range-bound barring feedstock volatility or sudden demand surges.

Europe

Q3 2025 Overview

France witnessed a sharp quarterly drop in SAN prices, with the Price Index declining 11%, averaging USD 2506.00/MT. Spot prices weakened amid steady imports, elevated inventories, and lower upstream feedstock costs.

Key Drivers of Price Movements:

Ample supply: High inflows of styrene and acrylonitrile reduced scarcity premiums.
Muted downstream demand: Electronics, automotive, and packaging sectors maintained moderate consumption.
Production cost trends: Reduced styrene and naphtha prices eased cost pressures, limiting urgency for output adjustments.
Trade and logistics: Competitive import offers and high domestic inventories constrained negotiating leverage for sellers.

Q2 2025 Review

Germany experienced mixed trends during Q2 2025. SAN prices remained lower in April and May due to average downstream offtake and neutral feedstock costs, with June seeing further price correction. Production costs remained steady, supported by normalized input prices and smooth logistics operations.

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Procurement Behavior: Moderate activity from electronics, automotive interiors, and consumer goods sectors, with buyers cautiously managing inventories.

Q1 2025 and Q4 2024 Context

In Q1 2025, European SAN markets showed limited volatility, with declining demand and controlled domestic production. Q4 2024 saw challenges due to economic uncertainties, impacting automotive and consumer goods sectors, though packaging demand and e-commerce growth offered partial price support.

Outlook: Prices are expected to remain under mild downward pressure unless feedstock costs or export demand dynamics shift significantly.

Production and Cost Structure Insights

SAN production costs are heavily influenced by the prices of styrene and acrylonitrile, along with energy, naphtha, and logistics expenditures. Over the last three quarters:

Feedstock costs have generally softened across all regions, offering limited cost-push support for SAN prices.
Energy and logistics costs remained stable in North America and Europe, while APAC faced minor volatility from freight rates and currency fluctuations.
Plant operating rates stayed moderate to normal, maintaining adequate supply without triggering scarcity-driven price surges.
Manufacturers have prioritized cost-efficient operations, with margin management taking precedence over aggressive price increases in the face of subdued demand.

Procurement Outlook

Procurement teams should consider the following trends:

North America: Range-bound pricing offers predictable sourcing, but weak downstream demand suggests opportunities to negotiate favorable contracts.
APAC: Balanced supply and cautious downstream procurement imply that buyers can optimize inventories without exposure to sudden price spikes.
Europe: Elevated inventories and competitive imports suggest stable prices, though buyers should monitor feedstock volatility and export flows to anticipate localized impacts.
Across regions, strategic timing, understanding local inventory cycles, and monitoring port logistics remain critical for effective procurement.

FAQ: Styrene Acrylonitrile Market

Q1: Why have SAN prices remained largely range-bound through 2025?
A1: Prices are range-bound due to balanced supply, high inventories, moderate downstream demand, and softened feedstock costs, which limit both upward and downward price swings.

Q2: Which factors could trigger SAN price increases?
A2: Sudden surges in downstream demand, feedstock price spikes, port disruptions, or export-driven shortages could temporarily drive prices higher.

Q3: How do feedstock costs influence SAN pricing?
A3: Styrene and acrylonitrile prices directly affect production costs. Lower feedstock costs ease margin pressures and restrain price growth, while increases can incentivize producers to pass costs downstream.

Q4: What regional differences are notable in SAN pricing?
A4: Europe experienced sharper declines due to high inventories and competitive imports; North America saw modest decreases with range-bound trading; APAC markets showed moderate corrections influenced by restocking cycles and balanced imports.

Q5: How should procurement teams approach SAN sourcing?
A5: Buyers should monitor feedstock trends, port logistics, and regional inventory levels. Strategic procurement, timing purchases with seasonal demand cycles, and leveraging market forecasts can optimize cost-efficiency.

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How ChemAnalyst Supports Buyers

ChemAnalyst provides real-time market news, weekly price updates, and actionable intelligence for SAN and over 450 commodities. Beyond just price reporting, ChemAnalyst equips procurement teams with:

Price forecasts: Anticipate market trends to optimize purchasing strategies.
Supply-chain insights: Track plant shutdowns, port congestion, and logistical disruptions.
Global reach: Ground teams at 50+ trading ports offer firsthand market activity monitoring.
Analyst expertise: Chemical engineers and industry experts interpret market movements and explain pricing drivers.
Decision-making support: Data-driven insights enable informed procurement, risk mitigation, and cost optimization.
With ChemAnalyst, buyers gain unparalleled visibility into SAN market dynamics, enabling proactive management of supply and pricing challenges.

Conclusion:

The Styrene Acrylonitrile market remains in a phase of stable-to-soft pricing, with regional nuances shaped by supply-demand balance, feedstock trends, and logistical factors. Procurement teams benefit from understanding these drivers, leveraging market intelligence, and strategically timing purchases. Looking ahead, unless major supply constraints or downstream demand surges occur, SAN prices are expected to remain largely range-bound through the latter half of 2025.

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This release was published on openPR.