SAN copolymers in primary forms market in Portugal

Earlier Report Observations

The market volume for SAN copolymers in primary forms in Portugal declined substantially from 1 172 tonnes in 2018 to 576 tonnes in 2023, a reduction of more than half over the five-year period.

In value terms, the contraction was even sharper, with the market shrinking from 6.6 million US dollars to 1.9 million US dollars, reflecting both lower volumes and possible price adjustments. Domestic production remained relatively stable in volume, ranging between 120 and 134 tonnes, but its value dropped markedly, indicating changing cost or product mix dynamics.

The decline in market size was primarily driven by falling imports, which accounted for the bulk of supply. Imports peaked at 1 526 tonnes in 2021 before falling to 744 tonnes in 2023, while exports increased, further reducing net availability on the domestic market.

Production SAN in primary forms in Portugal

In value, 2018-2021, K $ US

Portugal's production of SAN copolymers in primary forms declined for the second consecutive year. In 2020, output was valued at 3 204 K $ US, representing a 7.4% decrease compared to the previous year. From 2018 to 2020, production fell by 9.7%, which translates to an annualized decline rate of 3.3%.

Annual dynamics of production in Portugal in value, 2018-2021, K $ US

In kind, 2018-2021, t

In 2020, Portugal produced 127.1 t of SAN copolymers in primary forms, marking a 5.9% increase year-over-year. However, from 2018 to 2020, overall production decreased by 5.1%, with an annualized decline of 1.7%. The lowest production level was recorded in 2019 at 120.0 t, which saw the largest decline of 10.4% during this period.

Annual dynamics of production in Portugal in kind, 2018-2021, t

Exports SAN in primary forms from Portugal

Exports in kind, t

Exports of SAN copolymers in primary forms from Portugal increased for the third consecutive year. In 2021, exports reached 471 t, up 19.7% from the previous year. Over the period from 2018 to 2021, exports surged by 218%, with a compound annual growth rate (CAGR) of 47.1%.

Annual dynamics of product's exports from Portugal in kind, 2018-2021, t

From 2018 to 2021, Spain, Cabo Verde, and Angola remained the primary buyers of SAN copolymers in primary forms from Portugal. Spain accounted for 44.6% of exports in kind, Cabo Verde for 16.3%, and Angola for 15.5%. Together, these three countries represented 76.4% of total exports in kind.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Portugal in kind, 2018-2021

Exports in value, K $ US

Exports of SAN copolymers in primary forms from Portugal increased for the third consecutive year. In 2021, export value totaled 1 273 K $ US, a 44.9% rise compared to 2020. Between 2018 and 2021, exports grew by 250.3%, with an annualized growth rate of 51.9%.

Annual dynamics of product's exports from Portugal in value, 2018-2021, K $ US

From 2018 to 2021, Spain, Angola, and Cabo Verde were the largest contributors to Portugal's export value of SAN copolymers in primary forms. Spain accounted for 54.1% of exports in value terms, Angola for 15.3%, and Cabo Verde for 10.0%. Collectively, these three countries made up 79.4% of total export flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Portugal in value, 2018-2021

Imports SAN in primary forms to Portugal

Imports in kind, t

After a two-year decline, imports of SAN copolymers in primary forms into Portugal increased. In 2021, imports totaled 1 526 t, showing a sharp rise of 45.5% year-over-year. From 2018 to 2021, imports grew by 28.6%, with a CAGR of 8.7%. The lowest import level was recorded in 2020 at 1 048 t, which also saw the largest decline of 10.9%.

Annual dynamics of product's imports to Portugal in kind, 2018-2021, t

From 2018 to 2021, the Netherlands, Spain, and South Korea were the main sources of SAN copolymers in primary forms for Portugal. The Netherlands accounted for 32.3% of imports in kind, Spain for 17.1%, and South Korea for 11.3%. Together, these three countries represented 60.7% of total imports in kind.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Portugal in kind, 2018-2021

Imports in value, K $ US

The import market for SAN copolymers in primary forms into Portugal showed an unstable trend during this period. The lowest value was recorded in 2020 at 1 998 K $ US, which saw a decline of 29.1% in 2019. In 2021, imports peaked at 4 302 K $ US, marking a dramatic increase of 115.3% compared to 2020, with a 2.2-fold shift from the minimum.

Annual dynamics of product's imports to Portugal in value, 2018-2021, K $ US

From 2018 to 2021, the Netherlands, Spain, and Belgium were the largest suppliers of SAN copolymers in primary forms to Portugal in value terms. The Netherlands accounted for 23.8% of imports in value, Spain for 21.8%, and Belgium for 10.3%. Together, these three countries formed 55.9% of total imports in value terms.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Portugal in value, 2018-2021