Companies Mentioned in the Report: Chevron Phillips Chemical Company LLC, ENI S.p.A., INEOS Styrolution Holding Ltd., Saudi Basic Industries Corp. (SABIC), Total S.A., The Dow Chemical Company, Americas Styrenics, LG Chem, E & T Plastics Mfg. Co., SAE Manufacturing Specialties Corp, Hydrite Chemical Co., Transcendia, Plastic Products, Polyscope Polymers North America, Kind Chemical, Nova Chemicals Corp., Deltech Corp., Progressive Plastics, Westlake Chemical Corp., Deltech Polymers Corp., Hanwha International LLC, Lotte Advanced Materials
NEW YORK, March 23, 2022 (GLOBE NEWSWIRE) -- IndexBox has just published a new report: 'World – Styrene - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
Styrene Market Statistics
| Imports | 7,752.9 Million USD |
| Exports | 6,878.5 Million USD |
| Top Importers | China, India, South Korea |
| Top Exporters | U.S., Saudi Arabia, Netherlands |
Styrene Market Size
In 2021, the global styrene market decreased by -X% to $X, falling for the second year in a row after three years of growth. Overall, consumption showed a slight slump. The most prominent rate of growth was recorded in 2010 when the market value increased by X% year-to-year. Global consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain the momentum. REQUEST FREE DATA
Styrene Production
In value terms, styrene production shrank to $X in 2021 estimated in export prices. Over the period under review, production saw a slight decline. The pace of growth was the most pronounced in 2010 when the production volume increased by X% against the previous year. Global production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure. REQUEST FREE DATA
Production By Country
The countries with the highest volumes of styrene production in 2021 were the U.S. (X tonnes), the Netherlands (X tonnes) and China (X tonnes), with a combined X% share of global production. Saudi Arabia, India, Japan, Canada, Indonesia, Pakistan, Russia, Spain, Italy and the UK lagged somewhat behind, together comprising a further X 2007 to 2021, the biggest increases were in Russia, while styrene production for the other global leaders experienced more modest paces of growth. REQUEST FREE DATA
Styrene Exports
Exports
In 2021, shipments abroad of styrene increased by X% to X tonnes, rising for the second year in a row after five years of decline. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2009 when exports increased by X% y-o-y. Global exports peaked at X tonnes in 2013; however, from 2014 to 2021, exports failed to regain the momentum.
In value terms, styrene exports dropped remarkably to $X in 2021. Over the period under review, exports, however, continue to indicate a pronounced curtailment. The growth pace was the most rapid in 2010 when exports increased by X% against the previous year. Over the period under review, global exports attained the peak figure at $X in 2013; however, from 2014 to 2021, exports failed to regain the momentum.
Exports by Country
In 2021, the U.S. (X tonnes), distantly followed by Saudi Arabia (X tonnes), the Netherlands (X tonnes), South Korea (X tonnes), Japan (X tonnes), Canada (X tonnes), Singapore (X tonnes) and Kuwait (X tonnes) represented the key exporters of styrene, together committing X% of total exports.
From 2007 to 2021, the biggest increases were in Kuwait (+X% per year), while shipments for the other global leaders experienced more modest paces of growth.
In value terms, the U.S. ($X), Saudi Arabia ($X) and the Netherlands ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for X% of global exports. These countries were followed by South Korea, Japan, Kuwait, Singapore and Canada, which together accounted for a further X (+X% per year) saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced mixed trends in the exports figures.
Export Prices by Country
The average styrene export price stood at $X per tonne in 2021, declining by -X% against the previous year. Over the period under review, the export price continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2017 an increase of X% y-o-y. Over the period under review, average export prices hit record highs at $X per tonne in 2013; however, from 2014 to 2021, export prices failed to regain the momentum.
Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Kuwait ($X per tonne) and Japan ($X per tonne), while the U.S. ($X per tonne) and Saudi Arabia ($X per tonne) were amongst the lowest.
From 2007 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia, while the other global leaders experienced a decline in the export price figures.
Styrene Imports
Imports
In 2021, supplies from abroad of styrene increased by X% to X tonnes, rising for the second consecutive year after two years of decline. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 when imports increased by X% against the previous year. As a result, imports reached the peak of X tonnes. from 2011 to 2021, the growth of global imports failed to regain the momentum.
In value terms, styrene imports contracted dramatically to $X in 2021. In general, imports saw a perceptible slump. The pace of growth appeared the most rapid in 2010 when imports increased by X% y-o-y. Over the period under review, global imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain the momentum.
Imports by Country
China was the major importer of styrene in the world, with the volume of imports recording X tonnes, which was near X% of total imports in 2021. It was distantly followed by South Korea (X tonnes), Mexico (X tonnes), India (X tonnes), Belgium (X tonnes), the U.S. (X tonnes) and Turkey (X tonnes), together generating a X% share of total imports. The following importers - Germany (X tonnes), the Netherlands (X tonnes), Taiwan (Chinese) (X tonnes), France (X tonnes), Hong Kong SAR (X tonnes) and Brazil (X tonnes) - together shaped X% of total imports.
China experienced a relatively flat trend pattern with regard to volume of imports of styrene. At the same time, Turkey (+X%), India (+X%), Mexico (+X%), Brazil (+X%) and South Korea (+X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in the world, with a CAGR of +X% from 2007-2021. The Netherlands and Germany experienced a relatively flat trend pattern. By contrast, Belgium (-X%), the U.S. (-X%), Hong Kong SAR (-X%), France (-X%) and Taiwan (Chinese) (-X%) illustrated a downward trend over the same period. While the share of Turkey (+X p.p.), India (+X p.p.) and Mexico (+X p.p.) increased significantly in terms of the global imports from 2007-2021, the share of Taiwan (Chinese) (-X p.p.) and China (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China ($X) constitutes the largest market for imported styrene worldwide, comprising X% of global imports. The second position in the ranking was occupied by India ($X), with a X% share of global imports. It was followed by South Korea, with a X% share.
In China, styrene imports shrank by an average annual rate of -X% over the period from 2007-2021. In the other countries, the average annual rates were as follows: India (+X% per year) and South Korea (-X% per year).
Import Prices by Country
The average styrene import price stood at $X per tonne in 2021, shrinking by -X% against the previous year. Over the period under review, the import price recorded a perceptible downturn. The pace of growth appeared the most rapid in 2017 an increase of X% year-to-year. Over the period under review, average import prices hit record highs at $X per tonne in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in India ($X per tonne) and France ($X per tonne), while the Netherlands ($X per tonne) and the U.S. ($X per tonne) were amongst the lowest.
From 2007 to 2021, the most notable rate of growth in terms of prices was attained by Brazil, while the other global leaders experienced a decline in the import price figures.
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Product Coverage
Styrene.
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