U.S. - Styrene - Market Analysis, Forecast, Size, Trends And Insights
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View PricingU.S. Styrene Export Plummets 23% to 129K Tons in November 2022
U.S. Styrene Exports
In November 2022, styrene exports from the United States dropped markedly to 129K tons, falling by -22.6% against October 2022 figures. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in October 2022 with an increase of 67% against the previous month. As a result, the exports attained the peak of 166K tons, and then dropped rapidly in the following month.
In value terms, styrene exports reduced rapidly to $148M (IndexBox estimates) in November 2022. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2022 with an increase of 71% month-to-month. The exports peaked at 211K tons in July 2022; however, from August 2022 to November 2022, the exports remained at a lower figure.
Exports by Country
Mexico (61K tons) was the main destination for styrene exports from the United States, accounting for a 47% share of total exports. Moreover, styrene exports to Mexico exceeded the volume sent to the second major destination, the Netherlands (23K tons), threefold. Brazil (20K tons) ranked third in terms of total exports with a 16% share.
From January 2022 to November 2022, the average monthly growth rate of volume to Mexico stood at -1.6%. Exports to the other major destinations recorded the following average monthly rates of exports growth: the Netherlands (+37.5% per month) and Brazil (-4.1% per month).
In value terms, Mexico ($71M) remains the key foreign market for styrene exports from the United States, comprising 48% of total exports. The second position in the ranking was taken by the Netherlands ($26M), with an 18% share of total exports. It was followed by Brazil, with a 15% share.
From January 2022 to November 2022, the average monthly growth rate of value to Mexico amounted to -2.3%. Exports to the other major destinations recorded the following average monthly rates of exports growth: the Netherlands (+36.4% per month) and Brazil (-6.0% per month).
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Export Prices by Country
In November 2022, the styrene price stood at $1,147 per ton (FOB, US), surging by 2.1% against the previous month. In general, the export price, however, showed a mild reduction. The most prominent rate of growth was recorded in April 2022 an increase of 17% month-to-month. Over the period under review, the average export prices attained the maximum at $1,903 per ton in July 2022; however, from August 2022 to November 2022, the export prices remained at a lower figure.
Average prices varied noticeably for the major export markets. In November 2022, the countries with the highest prices were Turkey ($1,256 per ton) and Mexico ($1,167 per ton), while the average price for exports to Brazil ($1,078 per ton) and Colombia ($1,091 per ton) were amongst the lowest.
From January 2022 to November 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (-0.7%), while the prices for the other major destinations experienced a decline.
Factors Affecting Styrene Prices
Styrene prices in the United States have been on the rise in recent years, due to a number of factors. First and foremost, demand for styrene has increased as higher prices for crude oil, which is a major feedstock for styrene production. Additionally, new environmental regulations in China have led to that country's styrene producers curtailing output, leading to higher prices globally.
In response to the higher prices, many U.S. companies have been forced to pass along the increases to their customers. This has led to an overall increase in the cost of goods and services that contain styrene. In some cases, companies have had to reduce their use of styrene or switch to alternative materials.
This report provides an in-depth analysis of the styrene market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20141250 - Styrene
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
