Polystyrene (GPPS) Price Trend and Forecast

Regional Price Trend

Get the latest insights on price movement and trend analysis of General Purpose Polystyrene (GPPS) in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Polystyrene (GPPS) Price Trend for the First Half of 2023

Asia

The first quarter of 2023 saw a gradual decline in the price trend of polystyrene (GPPS), as the major cause of this fall was the consistent ups and downs in the crude oil sector. The supply of products was further hampered by the delays due to labor strikes. Another cause of worry for the manufacturers was the low demand from the downstream industries.

These problems were further amplified in the second quarter as the packaging and derivatives industries were hit by a low volume of sales. In the latter half of the second quarter, the level of inventories at the domestic ports inclined, causing the traders to lower their bids and thus leading to the notable decline in the price trend of polystyrene (GPPS).

Europe

High fluctuation in crude oil prices affected the domestic demand for polystyrene (GPPS), and with seasonal fluctuations in the region, the price trend of polystyrene (GPPS) declined in the first quarter of 2023. Along with the weak demand dynamics of the region, the polystyrene (GPPS) market, the second quarter also witnessed feeble trading sentiments as the oversupply at ports and sluggish consumption rates had a negative impact on the prices. In addition to this, the feedstock prices and high economic uncertainties caused the price trend of polystyrene (GPPS) to move southwards.

North America

In North America, the crude oil market led to a rise in the cost of production that widened the supply-demand gap in the region. The procurement rates improved slightly in the middle of the second quarter with the help of improvement in the consumption rates, but soon, the debt crisis swallowed the growth potential of the economy, and with struggling feedstock costs, the price trend of polystyrene (GPPS) declined gradually.

Analyst Insight

According to Procurement Resource, the price trend of Polystyrene (GPPS) is expected to fall in the upcoming months as the demand from the end-user industries does not seem to support the growth of polystyrene (GPPS) market.

Procurement Resource provides latest prices of Polystyrene (GPPS). Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.