Polystyrene Price Trend

Polystyrene Prices December 2023

In Q4 2023, the US polystyrene market was weak, with prices stable at 1687 USD/MT in December. Production cuts led to lower inventory levels, although rising energy prices pushed trends upward. There were no plant shutdowns reported. The overall North American polystyrene market continued to struggle due to high supply, low demand, and limited uptake.

In Q4 2023, South Korea’s polystyrene GPPS FOB Busan price fell by 3% with the quarter closing at 1241 USD/MT in December. The market had to overcome difficulties caused by abundant supply, moderate and predictable demand, and the weaker styrene fundamentals combined with lower energy costs which influenced production costs.

In Q4 2023, Belgium's polystyrene GPPS FD-Antwerp prices fell by 3.9% to 1673 USD/MT in December, with a -1% price change from the first to the second half of the quarter. Stable supply but reduced regional demand and Euro depreciation influenced market dynamics. Weak feedstock Styrene fundamentals and lower energy prices prompted suppliers to offer discounts to boost market activity.

Polystyrene Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Polystyrene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of polystyrene pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of polystyrene at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of polystyrene price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing polystyrene price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Polystyrene Market Analysis

The global polystyrene market size reached US$ 11.7 In Million Tonnes in 2023. By 2032, IMARC Group expects the market to reach US$ 19.7 In Million Tonnes, at a projected CAGR of 6.00% during 2023-2032.

• Increasing urbanization and industrialization in emerging economies have led to higher demand for packaging solutions and construction materials, subsequently driving polystyrene consumption.
• Continual innovations in recycling technologies and the development of high-performance polystyrene are creating opportunities for sustainable growth in the sector.
• The growing market is also navigating challenges such as volatility in raw material prices and environmental concerns related to plastic waste.
• The shifting trends towards lightweight and energy-efficient materials in automotive and consumer electronics manufacturing is further bolstering demand.
• A noticeable shift towards eco-friendly polystyrene products, which are designed to meet stricter environmental regulations and consumer preferences for sustainable materials, are also supporting the continued expansion of the global polystyrene market.
• The expanding construction sector, where polystyrene is extensively used in insulation systems for buildings due to its excellent thermal and acoustic insulation properties, contributing to energy efficiency and compliance with green building standards.
• The growing food service industry is a major driver, as there is a consistent demand for polystyrene in food packaging due to its cost-effectiveness, lightweight nature, and insulation properties that maintain food temperature and safety.
• The flourishing healthcare industry represents a growing market for polystyrene due to its application in medical and pharmaceutical packaging, this is driven by the need for sterile, durable, and reliable packaging solutions that meet stringent health standards.
• Rapid expansion of end-use industries such as electronics, where polystyrene is used in components and housings due to its insulative and protective properties, fuels demand.
• Ongoing development of new foam technologies that use polystyrene for insulation in refrigeration, building, and construction provides significant energy savings and environmental benefits, thereby driving its adoption.
• The retail sector’s growth, especially online shopping, has increased the need for effective protective packaging solutions.
• Rapid urbanization in emerging economies is promoting demand for both residential and commercial construction, where polystyrene is extensively used for insulation panels and concrete forms.

Polystyrene News

The report covers the latest developments, updates, and trends impacting the global polystyrene market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in polystyrene production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the polystyrene price trend.

Latest developments in the polystyrene industry:

• In 2023, BASF launched "MyCarbonFootprint," a digital app to help customers track the sustainability of over 700 products like pharma ingredients and amino resins, focusing on CO2 reduction and renewable materials. Initially available to select customers, over 50 are already utilizing the app.
• In 2023, In partnership with Synthos, the #poznajstyropian (Get to Know Expanded Polystyrene) campaign launched in Poland at the end of September, promoting the benefits of using expanded polystyrene for house insulation. It addresses economic and environmental concerns through animations featuring the "Wise Investors" family, based on independent research to facilitate informed decisions on thermal insulation.
• In 2023, Dow was named to the Dow Jones Sustainability World Index (DJSI) for the 23rd consecutive year, recognizing its position as a leader in the global chemical industry's sustainability performance. Andre Argenton, Dow’s chief sustainability officer, expressed honor in meeting the increasing standards of this key sustainability benchmark. Dow remains committed to advancing global sustainability and delivering stakeholder value as it aims to be the leading sustainable materials science company.

Product Description

Polystyrene is a very useful synthetic material that is made from styrene monomers in the liquid state. Styrene is obtained by the commercial production of petrochemical products from petroleum. This is a low-weight, high-strength, lightweight, well-known plastic with a high application range because of its durability and its good insulation properties.

Polystyrene is produced using a technique called polymerization, based on the reaction transfer of styrene into a solidified polymer. Besides its plastic form, polystyrene is also available in several forms such as GPPS (general-purpose styrene) which is clear and brittle; HIPS (high-impact styrene) which is toughened with a rubber called polybutadiene; and EPS (expandable polystyrene) which is infused with a blowing agent to produce a sponge-like material.

Polystyrene has become an indispensable material in many sectors due to its unique light, insulative, and moldable qualities. It can reduce manufacturing costs, weather weather-resistant and chemical-proof, and provide outstanding thermal insulation. It is typically used for ice packs, take-out containers, cups, plates, bowls, coolers, and various other household and office products.

Regional Coverage

The report provides a detailed analysis of the polystyrene market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the polystyrene price trend.

Global Polystyrene Price

The report offers a holistic view of the global polystyrene pricing trends in the form of polystyrene price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of polystyrene but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed polystyrene demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Polystyrene Price

In Q4 2023, the European polystyrene market faced a subdued demand from downstream industries, particularly noticeable in November and December. This reduced demand led to a decrease in material consumption and a decline in prices. Throughout the quarter, the market conditions remained stable but characterized by a high to moderate supply paired with low to moderate demand. The excess supply coupled with weak demand forced producers to reduce prices to stimulate market activity.

This analysis can be extended to include detailed polystyrene price information for a comprehensive list of countries.

North America Polystyrene Price

In Q4 2023, the North American polystyrene market experienced a downturn, primarily due to an oversupply from manufacturing units. This abundance of products in the market led to high supply levels but limited uptake and declining regional demand, which in turn contributed to falling Styrene prices. Despite lower spot price offerings, the spot market moved slowly, with few firms placing orders. The price decline was particularly notable in the United States, where polystyrene prices dropped by 6.5% from November to December 2023. This decrease was largely attributed to reduced demand from key overseas markets, including the packaging and household manufacturing sectors.

Specific polystyrene historical data within the United States and Canada can also be provided.

Middle East and Africa Polystyrene Price

The report explores the polystyrene pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on polystyrene prices for countries can also be provided.

Asia Pacific Polystyrene Price

In Q4 2023, the polystyrene market in the APAC region faced challenges due to an oversupply and weakened demand. Trading activities were subdued, putting sellers under pressure to offload their inventories. To stimulate sales and manage the excess stock, sellers were compelled to offer slight price concessions. This environment reflects the ongoing difficulties in balancing supply and demand within the region's polystyrene market.

This polystyrene price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Polystyrene Price

The analysis of polystyrene prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of polystyrene pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting polystyrene price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The polystyrene price charts ensure our clients remain at the forefront of the industry.