Eastern Asia: Styrene Market 2024

Styrene Market Size in Eastern Asia

In 2022, the East Asian styrene market decreased by X% to $X, falling for the fourth consecutive year after two years of growth. In general, consumption continues to indicate a noticeable shrinkage. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Styrene Production in Eastern Asia

In value terms, styrene production expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

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Styrene Exports

Exports in Eastern Asia

In 2022, approx. X tons of styrene were exported in Eastern Asia; remaining constant against the previous year's figure. Overall, exports, however, saw a perceptible slump. The most prominent rate of growth was recorded in 2013 with an increase of X%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, styrene exports reached $X in 2022. In general, exports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) and South Korea (X tons) were the key exporters of styrene in 2022, finishing at near X% and X% of total exports, respectively. Taiwan (Chinese) (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Japan (X%).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, China ($X), South Korea ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

China, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price, however, continues to indicate a slight setback. The pace of growth was the most pronounced in 2021 an increase of X%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in China ($X per ton) and Taiwan (Chinese) ($X per ton), while Japan ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced a decline in the export price figures.

Styrene Imports

Imports in Eastern Asia

For the third year in a row, Eastern Asia recorded decline in overseas purchases of styrene, which decreased by X% to X tons in 2022. Over the period under review, imports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, styrene imports fell sharply to $X in 2022. In general, imports recorded a abrupt descent. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) represented the key importer of styrene, comprising X% of total imports. South Korea (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (X%) and Taiwan (Chinese) (X%).

From 2012 to 2022, average annual rates of growth with regard to styrene imports into China stood at X%. Hong Kong SAR (X%), Taiwan (Chinese) (X%) and South Korea (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Hong Kong SAR, South Korea and Taiwan (Chinese) increased by X, X and X percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported styrene in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price, however, showed a mild descent. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in South Korea ($X per ton) and Taiwan (Chinese) ($X per ton), while China ($X per ton) and Hong Kong SAR ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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