Product
Polystyrene Price Trend and Forecast
Polystyrene Price Trend and Forecast
Regional Price Overview
Get the latest insights on price movement and trend analysis of Polystyrene in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
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 trends. 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 trends 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.
Procurement Resource provides latest prices of Polystyrene. 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.
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 |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
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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