Global Styrene Market 2022

Styrene Market Size

In 2021, the global styrene market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the global market remained at a somewhat lower figure.

Styrene Production

In value terms, styrene production rose to $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by 22%. As a result, production reached the peak level of $X. From 2014 to 2021, global production growth remained at a lower figure.

Styrene Exports

Exports

In 2021, global exports of styrene dropped to X tons, waning by -4.6% against 2020. Overall, exports saw a slight contraction. The growth pace was the most rapid in 2019 when exports increased by 5.4%. The global exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, styrene exports surged to $X in 2021. Over the period under review, exports saw a perceptible downturn. Over the period under review, the global exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from the United States (X tons), the Netherlands (X tons) and Saudi Arabia (X tons), together recording 49% of total export. Singapore (X tons) held the next position in the ranking, followed by South Korea (X tons), Japan (X tons), Kuwait (X tons) and Canada (X tons). All these countries together held approx. 31% share of total exports.

From 2012 to 2021, the biggest increases were in Kuwait (with a CAGR of +2.4%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), the United States ($X) and Saudi Arabia ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 50% share of global exports.

The United States, with a CAGR of -0.7%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced a decline in the exports figures.

Export Prices by Country

The average styrene export price stood at $X per ton in 2021, jumping by 65% against the previous year. In general, the export price, however, saw a mild reduction. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in the Netherlands ($X per ton) and Canada ($X per ton), while Kuwait ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (-0.5%), while the other global leaders experienced a decline in the export price figures.

Styrene Imports

Imports

In 2021, after two years of growth, there was decline in overseas purchases of styrene, when their volume decreased by -3% to X tons. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 7.8% against the previous year. Global imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, styrene imports soared to $X in 2021. In general, imports saw a perceptible reduction. Global imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons), distantly followed by India (X tons), the United States (X tons), Belgium (X tons), Turkey (X tons) and Mexico (X tons) represented the largest importers of styrene, together generating 56% of total imports. Taiwan (Chinese) (X tons), South Korea (X tons), Germany (X tons), France (X tons), Hong Kong SAR (X tons), the Netherlands (X tons) and Brazil (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Turkey (with a CAGR of +13.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Belgium ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 34% of global imports. Turkey, Mexico, the United States, Germany, France, Taiwan (Chinese), South Korea, the Netherlands, Hong Kong SAR and Brazil lagged somewhat behind, together accounting for a further 44%.

Turkey, with a CAGR of +14.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average styrene import price stood at $X per ton in 2021, jumping by 58% against the previous year. Over the period under review, the import price, however, showed a perceptible contraction. Global import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was France ($X per ton), while the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+0.9%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

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