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.
Global Styrene Trade 2013-2018
In 2018, approx. 9.4M tonnes of styrene were exported worldwide; a decrease of -8.6% against the previous year. In general, styrene exports continue to indicate a significant decline. Over the period under review, global styrene exports reached their maximum at 11M tonnes in 2013; however, from 2014 to 2018, exports remained at a lower figure.
In value terms, styrene exports amounted to $11.5B (IndexBox estimates) in 2018. The most prominent rate of growth was recorded in 2017 with an increase of 17% against the previous year.
Exports by Country
In 2018, the U.S. (1.8M tonnes) and the Netherlands (1.8M tonnes) were the major exporters of styrene across the globe, together recording near 38% of total exports. Saudi Arabia (1,073K tonnes) took an 11% share (based on tonnes) of total exports, which put it in second place, followed by South Korea (9%), Canada (6.9%), Singapore (6.8%), Japan (6%) and Taiwan, Chinese (5.7%).
From 2013 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Canada, while exports for the other global leaders experienced more modest paces of growth.
In value terms, the largest styrene supplying countries worldwide were the Netherlands ($2.2B), the U.S. ($2.1B) and Saudi Arabia ($1.2B), together comprising 48% of global exports. These countries were followed by South Korea, Singapore, Japan, Canada and Taiwan, Chinese, which together accounted for a further 35%.
Export Prices by Country
The average styrene export price stood at $1,227 per tonne in 2018, surging by 2.7% against the previous year.
Average prices varied noticeably amongst the major exporting countries. In 2018, major exporting countries recorded the following prices: in Singapore ($1,312 per tonne) and South Korea ($1,304 per tonne), while Canada ($1,117 per tonne) and the U.S. ($1,128 per tonne) were amongst the lowest.
From 2013 to 2018, the most notable rate of growth in terms of prices was attained by Japan, while the other global leaders experienced a decline in the export price figures.
Source: IndexBox AI Platform