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Polystyrene Price Trend and Forecast

Regional Price Overview

Get comprehensive insights into the Polystyrene market, with a focused analysis of the Polystyrene price trend across Asia, Europe, North America, Latin America, and the Middle East & Africa.

Polystyrene Price Index

Commodity Sector Region Price Time Period
Polystyrene Packaging USA 1895 USD/MT November-23
Polystyrene Packaging USA 2400 USD/MT October’23
Polystyrene Packaging Europe 1858 USD/MT December-23
Polystyrene Packaging Europe 1833 USD/MT October’23
Polystyrene Packaging India 1230 USD/MT December-23
Polystyrene Packaging India 1255 USD/MT October’23


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Polystyrene Price Trend for the October - December of 2023

Asia

The Asian market performance for polystyrene was relatively weaker during the final quarter of the year 2023 compared to the previous quarters. Since the feedstock styrene prices impact the polystyrene prices greatly, the sluggishness in the styrene market was also reflected in the polystyrene market. Along with that, the lowered industrial consumption during the year-end holidays shifted the market sentiments downwards. However, the steadiness in market demands still maintained the borderline stagnancy in the polystyrene price trends. Since the supply and demand outlooks were still faintly aligned with each other, the fluctuations in the market trends were marginal. In the Indian polystyrene market, the monthly average prices went from around 1255 USD/MT in October to about 1230 USD/MT in December of 2023. Overall, low-swinging market trends were witnessed.

Polystyrene Price Chart

Polystyrene Price Trends


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Europe

The European market trends for polystyrene were almost similar to the Asian market trends, as the overall quarterly fluctuations were marginal. However, the first half of the quarter was stronger than the second half of the quarter. The prices first escalated by around 7% and then came back to the lower side in the latter half of the quarter December. The monthly average prices went from around 1833 USD/MT in Oct’23 to about 1858 USD/MT in December’23.

North America

The American polystyrene market closely followed the slumping trends of the Asian market during the last quarter of the year 2023. Given the dull domestic demands during the New Year holiday season, the prices wavered at the lower side of the quarter. Within first couple of months the monthly average prices slipped by about 21% as they went from about 2400 USD/MT in October’23 to around 1895 USD/MT in November’23.

Analyst Insight

According to Procurement Resource, the Polystyrene price trends are likely to continue oscillating within closed limits in the coming months as well.

Polystyrene Price Trend for the July-September of 2023

Asia

The Asian countries witnessed a surge in polystyrene prices during the second half of the third quarter, but in the first half, the prices struggled with muted demand from packaging and polymer industries and consistently falling trading sentiments. However, in the second month, the trend inclined with the surge in the cost of styrene and the rise in the demand for polystyrene. Further, the disruptions in the supply chains and limited availability of stockpiles of polystyrene also supported the rise in the polystyrene price trend.

Europe

The polystyrene price trend took on a bearish trajectory in the third quarter of 2023 as the downstream industries showed only feeble interest. The derivatives of polystyrene, construction, and other related sectors were only moderate, but the continuous influx of material in the market proved to be a challenge for polystyrene traders.

This condition only persisted in the first two months of this quarter, as in September, the polystyrene prices showed an upswing trend. The most significant contributor to this incline in polystyrene prices was the demand from the automotive and construction sectors.

North America

The polystyrene price graph mirrored the trajectory shown in the European countries. In the initial phase, the adverse effects of weak demand and feeble purchasing by the consumer proved to be a challenge for the polystyrene price trend. In addition to this, the overall market conditions were also frail. However, soon, the increase in cost of production on account of the rise in prices of styrene and stabilization of supply-demand equilibria supported the rise in the polystyrene price trend.

Analyst Insight

According to Procurement Resource, the price trend of Polystyrene are expected to bear an inclining journey with the help of improved demand from the downstream packaging and automotive sectors.

Polystyrene Price Trend for the First Half of 2023

Asia

The polystyrene market in the first two quarters of 2023 gradually declined with the steadily decreasing crude oil production costs. The strikes in the logistical sector disrupted the supply chain in the region. The onset of spring holidays led to a decline in industrial activities, impacting the downstream demand.

As demand fell, the prices continued on a downward trajectory. In addition, the manufacturers cut their production rates in view of the persistent weak demand from the packaging industry. Also, the manufacturers readily participated in destocking in hopes of positive product movement in the market and making room for new production.

Europe

The unfavorable market dynamics of Europe and rising uncertainties in the crude oil sector led to the fall in the prices of Polystyrene. The price trend was also affected by the consistently falling demand from the end-user industries and the rising cost of energy production that forced the producers to employ cuts in their workforce. Further, the slow movement of solvent industries aided the falling prices of Polystyrene.

North America

In North America, polystyrene prices witnessed a fluctuating trend in the first two quarters of 2023. The major influencing factor in the region was the increasing pressure on the market fundamentals, given the widening gap between the supply and demand dynamics. The rise in the prices during the end of the first quarter was supported by labor strikes, limiting the product's availability. But soon, the prices declined again as the downstream industries decreased their purchasing capacity.

Analyst Insight

According to Procurement Resource, the price of Polystyrene is estimated to decline in the upcoming quarter as the demand from the downstream industries seems feeble, and the global economy is expected to experience a slowdown.

Polystyrene Price Trend For the Second Half of 2022

North America

The prices for polystyrene remained bucket in the second half of 2022. With variable market sentiments and seasonal fluctuations at play, the prices for polystyrene were vacillating between highs and lows throughout the quarter. In Q32022, the polystyrene price trend saw a net upward trajectory on the back of increased electricity prices and heightened manufacturing costs. Moreover, the demand from the downstream industries- packaging, and thermoplastics, gave way to a surge in polystyrene prices.

The heat stream tended to bolt the costs of polystyrene production up, and hence, the prices saw a distended trend. However, the palliated feedstock costs and assuaged demand in the last quarter of 2022 shot the prices somewhat southward. Throughout the fourth quarter, the prices kept bouncing up and down and were uncertain owing to slashed demand in the winter season and extenuated freight costs.

Asia

The polystyrene prices in the APAC region were witnessed swaying southwards, owing to various reasons. Lower feedstock prices played a pivotal role in the region's decreased price development for polystyrene. The slashed crude oil prices and dwindled styrene (feedstock) prices proportionately abraded the prices for polystyrene in the Chinese market, hence the plummeted production prices for the commodity. Moreover, the impeded demand in India in terms of the insulation and packaging sector rendered the enfeeblement to the prices throughout the third quarter.

Similarly, the fourth quarter saw no improvement in polystyrene prices. Incapacitated feedstock styrene prices and dull upstream prices prompted producers to jack up the polystyrene production cost, which later led to a bloated stockpile. Hence, the prices throughout the second half remained on the lower side.

Europe

The price trend for polystyrene remained enfeebled in Europe throughout H2, 2022. The prime reason behind the negative trajectory for the prices was decreased feedstock cost, alleviated demand from the packaging, and insulation industry, including the derivatives such as styrene-butadiene rubber, expanded polystyrene, and styrene acrylonitrile, etc., further contributed to chopping the prices for polystyrene. Moreover, the higher utility costs and lower demand kept the production sentiments on the dismal end, prompting to keep the polystyrene manufacturing output on the lower end.

Polystyrene Price Trend For the First Half of 2022

Asia

The Asia Pacific market increased by 9.1% in Q1 2022 compared to Q4 2021. High crude oil costs and rising feedstock Styrene prices are to blame for the price increase. During the first quarter, the prices in China varied between 1440-1530 USD/MT GPPS FOB Qingdao.

The price of polystyrene in the Asia-Pacific market increased by about 3% during the second quarter. Asia was harmed by transit restrictions that drove up polystyrene price trend. As the second quarter came to a close, the prices averaged 1656 USD/MT GPPS FOB Qingdao, China.

Europe

In contrast to the Q4 of 2021, the price of polystyrene increased exponentially by 13% in the first quarter of 2022. Prices for polystyrene averaged 2235-2406 USD/MT GPPS FD Hamburg, Germany. As a result of the surge in crude oil prices following the tension between Russia and Ukraine, which increased the production costs among downstream businesses, price escalation was seen.

In June, the price of polystyrene on the European market was set at 2895 USD/MT per MT GPPS FD Hamburg, Germany. Throughout the quarter, European nations experienced commodity inflation, which pushed up the prices. Growing demand for polystyrene in packaging, electrical devices, and automobiles maintained positive market sentiments in Europe.

North America

The feedstock prices, which fluctuated in the first quarter of 2022, directly impacted the price trend for polystyrene in the North American market. At the end of the first quarter, polystyrene prices spiked to 2262 USD/MT GPPS FAS Houston, USA. A negative side effect of the rising political tension between Russia and Ukraine was the increase in feedstock prices, which were accompanied by skyrocketing crude oil prices.

Prices for polystyrene increased by about 4% in the second quarter of 2022, mirroring the higher trend in the North American region. At the end of the quarter, the rates were set at 2354 USD/MT GPPS FAS Houston, and 2930 USD/MT, HIPS FAS Houston USA.

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About

Polystyrene is primarily a synthetic polymer derived from the monomer styrene. It is an aromatic hydrocarbon polymer that can either be solid in appearance or foamed. It is one of the most commonly used plastics and is widely utilised as a protective packaging materials. It is a colourless liquid which can evaporate easily and has a sweet odour. It usually contains other chemicals, which provide it a sharp, unpleasant smell. It dissolves in some liquids but does not dissolve easily in water.

Product Details

Report Features Details
Product Name Polystyrene
Industrial Uses Copolymers, Construction materials, Insulation materials, Packaging industry, Resins
Chemical Formula (C8H8)n
Synonyms 9003-53-6, PS, Polystyrene
Supplier Database INEOS Capital Limited, Total Petrochemicals USA, Inc., Americas Styrenics LLC (AmSty), SABIC, BASF SE
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery


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Production Process

  • Production of Polystyrene via Polymerisation

The polymerisation of styrene in the presence of polybutadiene finally produces Polystyrene. Radical polymerisation is often utilised in the preparation of Polystyrene.

Methodology

The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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  • Price Across Multiple Locations
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  • Prices of More than 400 Commodities and Utilities

Get in Touch With Us

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Phone: +44 7537 132103

Email: sales@procurementresource.com

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