For the Quarter Ending December 2024
North America
The Acrylonitrile Styrene Acrylate (ASA) market in the United States exhibited a modest 1.91% quarterly growth, supported by a dynamic interplay of supply, demand, and sectoral performance. Despite fluctuations in feedstock costs and regional supply chain conditions, manufacturers successfully maintained production levels to address steady market requirements. Freight rates from Asia declined, easing logistical costs and improving supply conditions, while port operations remained stable, minimizing disruptions.
The automotive sector was a primary driver of ASA demand, consistently showing robust performance throughout the quarter. Vehicle sales rose steadily, reflecting growing consumer confidence and sustained production activity among major automakers. Conversely, the construction sector faced ongoing challenges, including labor shortages, elevated borrowing costs, and seasonal slowdowns, which restrained ASA consumption in this segment.
Supplier strategies, including inventory optimization and pricing adjustments, balanced market pressures, ensuring supply stability amid varying downstream demand. The U.S. manufacturing sector closed the year on a weaker note, with reduced new orders and production in December, yet consumer sentiment reached its highest level since April, fostering cautious optimism.
APAC
In Q4 2024, the South Korean ASA market saw a modest 2.34% increase from the previous quarter, supported by a balanced interplay of supply and demand factors. While the automotive and construction sectors faced challenges, demand from overseas markets, particularly the U.S., provided some positive momentum. Domestic demand, however, remained subdued due to weaker performances in key sectors, notably automotive and construction. The automotive sector saw lower sales compared to earlier months, with a 17.4% drop in October and a slight decline in November, signaling cautious consumer sentiment. Despite challenges in the construction sector, which reported a downturn in Q3 and continued to face cost pressures and project delays, the manufacturing and supply dynamics showed improvement. Supply chain efficiency improved with marginal increases in delivery times, marking the smallest delays in six months. Manufacturing activity in the sector showed slight improvements with an uptick in international demand, though domestic demand remained restrained. Export data also reflected a slower pace, with a decline in Acrylonitrile-based resin exports in October and a modest dip in the overall market. However, suppliers managed to maintain steady stock levels while mitigating disruptions. The overall stability in supply coupled with improvements in sectoral performance helped offset the pressures, maintaining a positive, though cautious, outlook for the market.
Europe
The Acrylonitrile Styrene Acrylate (ASA) market in Germany demonstrated a modest growth in the final quarter of 2024, with prices reflecting a slight upward movement compared to the previous quarter. This increase aligns with evolving dynamics in the downstream and feedstock markets, despite persistent challenges in key sectors. Throughout the quarter, the automotive sector showed mixed performance, with an initial rise in passenger car registrations during October and November, followed by a decline in December. While export demand for automotive parts provided some stability, domestic production volumes remained subdued. Conversely, the construction sector continued to struggle, marked by declining activity, political uncertainties, and reduced new orders, which curbed ASA demand. However, easing cost pressures and improved inventory management by suppliers supported market stability. Supply conditions remained consistent, with manufacturers leveraging stable raw material availability and adjusting production schedules to align with demand. Logistical improvements, particularly in port operations, further streamlined delivery processes. Despite economic headwinds, supplier actions, including enhanced inventory strategies and cost optimization measures, contributed to the slight quarterly growth.
For the Quarter Ending September 2024
North America
In the third quarter of 2024, Acrylonitrile Styrene Acrylate (ASA) prices in North America saw a 7.30% decline, driven by several key factors. Reduced sourcing costs from major exporters, along with weaker demand from core sectors such as automotive and construction, played a significant role in this price drop.
Additionally, global supply chain disruptions were exacerbated by the impact of Hurricane Milton, which caused temporary delays in manufacturing and trading activities throughout the region. In the U.S., the market experienced a 0.77% price increase compared to the previous quarter but a notable 5.79% rise from the same quarter in 2023, highlighting the complex dynamics affecting the ASA market.
Despite some marginal gains, the overall sentiment in the market remained negative, aligning with broader global trends. By the end of the quarter, ASA prices stood at USD 2,540/MT CFR Texas, reflecting a challenging pricing environment. The combination of reduced demand, supply chain disruptions, and lower sourcing costs led to continued downward pressure on ASA prices.
APAC
In Q3 2024, the Acrylonitrile Styrene Acrylate (ASA) market in the APAC region experienced a steady price decline of 6.43%. This drop was mainly driven by lower export prices from South Korea, a key supplier in the region, due to reduced raw material costs, particularly Acrylonitrile and Styrene. Contributing to this trend were decreased purchasing activities, logistical challenges, and lower feedstock prices, which collectively impacted the ASA market. Despite these pressures, the supply chain remained relatively balanced, supported by moderate to high demand levels without any major disruptions.
In India, the ASA market recorded the most significant price fluctuations, with prices reflecting a consistent downward trend. While there was a slight 0.60% increase from the previous quarter and a 2.68% rise from the same period last year, the overall market sentiment remained negative. The quarter ended with ASA priced at USD 2,621.35/MT Ex-Mumbai, indicating the ongoing challenges within the pricing environment. The combination of lower raw material costs, softened demand, and stable supply chains resulted in this persistent price decline across the APAC ASA market.
Europe
In Q3 2024, the Acrylonitrile Styrene Acrylate (ASA) market in Europe experienced a notable decline in prices, with Germany being the most affected country. The price of ASA in Germany dropped by 7.43%, settling at USD 2490/MT CFR Hamburg by the end of the quarter. This decrease was driven by several factors, including weak demand from key sectors such as automotive and construction, ongoing supply chain disruptions, and lower sourcing prices from major exporters. Furthermore, the economic environment in Europe, characterized by reduced business confidence and declining manufacturing activity, exacerbated the negative pricing trend. The continuous drop in freight charges along various routes also significantly influenced the pricing dynamics of ASA in the region. When compared to the same quarter last year, prices demonstrated a substantial decrease of 5.86% while remaining stable from the previous quarter, reflecting the persistent challenges faced by the ASA market in Europe. Overall, the pricing landscape for ASA in Q3 2024 was distinctly negative, marked by a sharp decline that underscores the prevailing market conditions and demand pressures.
For the Quarter Ending June 2024
North America
In Q2 2024, the North American market for Acrylonitrile Styrene Acrylate (ASA) experienced a notable surge, driven predominantly by a combination of heightened feedstock costs, increased freight charges, and robust demand from key downstream sectors such as automotive and construction. The quarter was marked by a positive pricing environment, with significant influence from rising production costs and logistical challenges. The increasing trend in ASA prices was further amplified by disruptions in the supply chain, including constraints imposed by the ongoing Panama Canal drought, which affected global trade routes.
Focusing on the USA, the region witnessed substantial price movements, reflecting the highest increments in the North American market. Overall trends showcased a strong correlation between increased market demand and rising ASA prices. The robust manufacturing activity, particularly in the automotive sector, coupled with steady growth in construction, kept the demand for ASA at elevated levels.
The percentage change from the previous quarter in 2024 was recorded at 1.7%, indicating a continued positive pricing trajectory. The quarter concluded with ASA prices reaching USD 2660/MT CFR Texas, cementing the bullish sentiment in the market.
APAC
In Q2 2024, the Acrylonitrile Styrene Acrylate (ASA) market in the APAC region experienced a notable price surge, driven primarily by increased production costs and robust demand from downstream industries such as automotive and construction. The rise in feedstock prices, particularly Acrylonitrile, and a significant uptick in freight charges played a critical role in inflating ASA production costs. These factors were compounded by geopolitical tensions and supply chain disruptions, which further strained the market. Focusing on South Korea, which saw the most pronounced price changes, the market dynamics were marked by a burgeoning demand coupled with constrained supply, leading to a bullish pricing environment. The overall trend reflected a consistent upward momentum, with seasonal demand spikes and a positive correlation in price changes. The percentage change from the previous quarter in 2024 was recorded at 4%, underscoring the escalated costs and supply chain pressures. South Korea concluded the quarter with ASA prices reaching USD 2500/MT FOB Busan. This upward trajectory indicates a positive pricing environment, characterized by strong market fundamentals and strategic responses to external pressures. No significant plant shutdowns were reported during this period, allowing continuous production to meet the rising demand. Overall, the market sentiment for ASA in Q2 2024 remained bullish, reflecting a robust and resilient pricing landscape in the face of multifaceted challenges.
Europe
In Q2 2024, the European Acrylonitrile Styrene Acrylate (ASA) market experienced a significant uptrend. This quarter has been marked by multiple influencing factors that have driven prices upward. Key reasons include a substantial price hike from major Asian exporters, most notably South Korea, which has exerted considerable influence on the European market. Higher feedstock prices have also contributed to the overall price surge. Additionally, increased freight charges across various trading routes have further inflated costs. Despite moderate supply conditions, the anticipation of higher production costs, utility costs, and energy prices has played a substantial role in the rising prices of ASA. Focusing on Germany, the market has witnessed the most pronounced price changes. The automotive sector saw a significant decline in sales, while the construction sector struggled with lower demand and a challenging business environment. Despite this, the market continued to see an upward price trend, driven by the confluence of heightened input costs and improved supplier delivery times. The overall trends indicate a seasonal increase in demand, especially from the automotive sector, correlating with the rising prices. The price changes reflect a 2.7% increase from the previous quarter in 2024. The quarter-ending price for ASA in Germany stood at USD 2640/MT CFR Hamburg, underscoring a positive pricing environment.
For the Quarter Ending March 2024
North America
The North American Acrylonitrile Styrene Acrylate (ASA) market saw a nuanced evolution over the first quarter of 2024, finishing March with a modest price increase to USD 2570 on CFR – Texas basis. The initial downtrend was prompted by subdued demand in downstream automotive sectors and competitive feedstock pricing.
Despite positive signals in vehicle sales indicating a recovery, the overall impact was not sufficient to stabilize ASA prices immediately. As the quarter unfolded, February marked a continuation of the slump, reflecting the effects of the competitive bidding landscape and consistent pressure from international markets, particularly South Korea. Yet, signs of an uptick in the automotive sector and a robust construction sector failed to immediately reflect in ASA pricing dynamics.
However, March observed a reversal, with ASA prices lifting by 2.8%, indicative of a positive correction influenced by market demand. Light vehicle sales in the U.S. demonstrated resilience, sustaining growth and bolstering demand for ASA in automotive applications. Simultaneously, an ascending trend in construction activities contributed to the increase in demand. Despite fluctuations in the Manufacturing PMI and ongoing adjustments in global supply chains due to logistic constraints like those at the Panama Canal, the ASA market managed to regain momentum by the end of Q1.
APAC
In Q1 2024, the APAC Acrylonitrile Styrene Acrylate (ASA) market, particularly in South Korea, demonstrated a complex interplay of market forces. The quarter commenced with a price drop triggered by a decline in Acrylonitrile feedstock prices and subdued ester values, alongside a general market downturn due to weaker consumption within the construction industry and a slowdown in domestic car sales. This downward trend persisted into February, compounded by a contraction in the automobile sector, influenced by operational halts at major auto manufacturers and fewer working days. Concurrently, a significant downturn in construction orders, exacerbated by tightened financial lending, dampened the demand for ASA. Despite these setbacks, March saw a reversal with prices climbing by 3.5%, to USD 2380 per MT on FOB – Busan basis. This rise was largely attributed to a surge in Acrylonitrile costs and an uptick in demand within the automobile sector, which reported a month-on-month sales increase, albeit a year-on-year decline. The manufacturing PMI indicated a slight downturn, yet the export demand showed signs of consistent growth for three months, adding to the upward pricing pressure. The South Korean ASA market's recovery in March reflected increased purchasing activities by manufacturers, despite the ongoing global supply chain disruptions, including the Red Sea crisis. The proactive procurement was a strategic response to anticipated rises in logistics costs and raw material prices.
Europe
In Q1 2024, the European Acrylonitrile Styrene Acrylate (ASA) market, specifically in Germany, displayed a variable trajectory before closing March with a modest price recovery to USD 2530 on CFR – Hamburg basis. The quarter initiated with a downward drift, as key feedstock prices dipped, impacting ASA costs. The downturn in automotive sales in January, despite a year-on-year uptick, and the persistent contraction in the construction sector exerted additional downward pressure on ASA demand and prices. February saw a continuation of the downward trend, influenced by external market factors, including a decline in German car sales and persistent struggles within the construction sector, which faced headwinds from client uncertainty and economic sluggishness. New orders in construction diminished, although at a slower rate, pointing to potential stabilization. In March, there was a slight reversal in ASA prices, driven by an uptick in costs from major exporters like South Korea. Despite a mixed performance in the automotive sector, with a dip in year-on-year sales but a month-on-month increase, and a subdued manufacturing PMI, the market managed to eke out a price increase. Throughout the quarter, the supply of ASA remained robust, indicating a market well-aligned with inventory levels and strategic supplier actions, catering to the nuanced demand from automotive and other industrial sectors.
