Europe: Styrene Market 2024

Styrene Market Size in Europe

The Europe styrene market surged to $X in 2021, growing by 45% against the previous year. The market value increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Styrene Production in Europe

In value terms, styrene production surged to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Styrene Exports

Exports in Europe

In 2021, after two years of decline, there was significant growth in shipments abroad of styrene, when their volume increased by 20% to X tons. Over the period under review, exports, however, recorded a mild downturn. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, styrene exports surged to $X in 2021. In general, exports, however, showed a mild decrease. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands was the major exporting country with an export of around X tons, which finished at 62% of total exports. Belgium (X tons) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by Spain (12%). Italy (X tons), Russia (X tons) and France (X tons) followed a long way behind the leaders.

Exports from the Netherlands decreased at an average annual rate of -2.6% from 2012 to 2021. At the same time, Belgium (+10.4%) and Spain (+4.6%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in Europe, with a CAGR of +10.4% from 2012-2021. Italy experienced a relatively flat trend pattern. By contrast, Russia (-4.0%) and France (-11.0%) illustrated a downward trend over the same period. Belgium (+9.4 p.p.) and Spain (+4.9 p.p.) significantly strengthened its position in terms of the total exports, while France and the Netherlands saw its share reduced by -3.6% and -9.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest styrene supplier in Europe, comprising 61% of total exports. The second position in the ranking was held by Belgium ($X), with a 15% share of total exports. It was followed by Spain, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the Netherlands totaled -3.1%. In the other countries, the average annual rates were as follows: Belgium (+8.6% per year) and Spain (+2.6% per year).

Export Prices by Country

In 2021, the export price in Europe amounted to $X per ton, picking up by 69% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in France ($X per ton) and Italy ($X per ton), while Russia ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (-0.4%), while the other leaders experienced a decline in the export price figures.

Styrene Imports

Imports in Europe

In 2021, purchases abroad of styrene increased by 14% to X tons, rising for the third consecutive year after two years of decline. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 16% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; afterwards, it flattened through to 2021.

In value terms, styrene imports surged to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Belgium (X tons), distantly followed by Germany (X tons), France (X tons), the Netherlands (X tons), Austria (X tons), Finland (X tons) and Norway (X tons) were the key importers of styrene, together making up 79% of total imports. Greece (X tons), Poland (X tons), Hungary (X tons), Italy (X tons), the Czech Republic (X tons) and the UK (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Norway (with a CAGR of +8.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Germany ($X) and France ($X) were the countries with the highest levels of imports in 2021, together comprising 52% of total imports. These countries were followed by the Netherlands, Austria, Norway, Finland, Greece, Hungary, Poland, Italy, the Czech Republic and the UK, which together accounted for a further 45%.

In terms of the main importing countries, Norway, with a CAGR of +10.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Europe amounted to $X per ton, with an increase of 79% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Norway ($X per ton) and Hungary ($X per ton), while Poland ($X per ton) and the Czech Republic ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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