Polystyrene Prices

Polystyrene Prices September 2024

The polystyrene prices in the United States for Q3 2024 reached 1350 USD/MT in September. The market was challenged with declining prices, driven by lower product consumption in key industries like construction and packaging. Moreover, the excess supply situation compounded the condition, creating a challenging market atmosphere. In spite of a brief improvement in the second month of the quarter, prices continued to drop, reflecting the pressure exerted by reduced demand and lower production costs due to falling crude oil prices.

The price trend for polystyrene in China for Q3 2024 settled at 1360 USD/MT in September. The market faced a gradual decline in this quarter, influenced by diminished product demand in major sectors like construction and packaging. Although the movement in prices was below the anticipated rate, the market environment remained negative due to factors such as oversupply and raw material price fluctuations. Despite some price stabilization in the latter part of the quarter, the industry faced continued challenges.

In Germany, the polystyrene prices for Q3 2024 reached 1720 USD/MT in September. The market faced a significant reduction. A slowdown in industries like manufacturing, coupled with oversupply and rising competition from cheaper imports, led to sustained downward pricing pressure. Despite some expectations for seasonal demand recovery, these did not materialize, further intensifying market difficulties.

In Saudi Arabia, the polystyrene prices for Q3 2024 reached 1520 USD/MT in September. The market faced stability during this quarter, with little change in prices due to balanced demand and supply. Moreover, the continued rate of production and increased product consumption in sectors such as construction and packaging helped maintain this equilibrium. Though there was a slight price increase during this period, the market overall remained relatively stable, reflecting a period of minimal fluctuations.

Polystyrene Prices June 2024

The polystyrene prices in the United States for Q2 2024 reached 1750 USD/MT in June. The region struggled with a downturn in prices. This was mainly driven by weak consumption in sectors such as construction and packaging. Moreover, high inventory levels and reduced industrial performance during the quarter worsened the situation, resulting in significant price reductions. As a result, the market sentiment remained bearish, as suppliers offered discounts to clear excess stock, further exacerbating the decline.

The price trend for polystyrene in South Korea for Q2 2024 settled at 1360 USD/MT in June. The market faced a significant price hike during this quarter, driven by strong demand from industries like packaging, automotive, and electronics. Moreover, the rise in production costs, particularly due to higher feedstock prices, contributed to upward pricing pressure. Besides this, tight supply and logistical challenges also played a role in maintaining the bullish market environment, as demand outpaced supply in the region.

In Germany, the polystyrene prices for Q2 2024 reached 2040 USD/MT in June. The market faced declining product rates, primarily due to an excess supply situation and weak consumption in major industries like construction and packaging. Apart from this, stable ethylene rates kept production expenses from rising sharply, but overall consumption remained moderate. Additionally, high inventory levels and cautious market sentiment further contributed to the downward pressure on prices throughout the quarter.

The price trend for polystyrene in Saudi Arabia for Q2 2024 settled at 1570 USD/MT in June. The market showed signs of a downward trend during this quarter, mainly due to an oversupply caused by increased production and stockpiling. Furthermore, weaker demand from industries like construction and packaging, coupled with stiff competition, further contributed to price reductions. The market remained sluggish, with suppliers adjusting prices to cope with the excess supply and low demand.

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.

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

Q3 2024:

In the third quarter of 2024, polystyrene prices in Europe saw a sharp dip due to a slowdown in major sectors like construction and automotive. The decrease in production activity led to a reduction in demand, while excess supply conditions, fueled by increased stockpiles and consistent rate of production, further pressured product rates. Moreover, the influx of cheaper imports, majorly from the Asian region, intensified the competition in the industry, pushing domestic manufacturers to lower their prices. Germany, as a major product market within Europe, saw a notable dip in price. Despite some expectations for seasonal product consumption, the market remained subdued, further contributing to the price decline. Overall, the European market remained under pressure, with rates continuing to fall due to weak demand and intense competition from overseas suppliers.

Q2 2024:

The second quarter of 2024 witnessed a marked dip in European polystyrene prices, primarily due to an excess supply scenario coupled with lower consumption in industries like construction and packaging. Moreover, stable rates of ethylene helped keep production costs in check, preventing further price hikes despite the oversupply. Besides this, economic challenges and lower product consumption rates exacerbated the downward price trend, with many producers facing pressure to lower prices in the face of stagnant demand. Apart from this, Germany saw major price reductions in the region due to increased stockpiles and stable logistical conditions. Despite expectations for seasonal demand increases, these were not realized, leaving the market vulnerable to an excess supply of polystyrene. Additionally, prices continued to decline throughout the quarter, driven by the combination of weaker demand, abundant supply, and cautious market sentiment. By the end of Q2, the market was still firmly in a negative pricing environment, reflecting broader market challenges in Europe.

Q4 2023:

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

Q3 2024:

Throughout the third quarter of 2024, the market for polystyrene in North America faced significant challenges, marked by a sustained drop in rates. The overall industry failed to retain stability, as major industries like packaging and construction reduced their demand. Moreover, an oversupply of materials further exacerbated the situation, keeping prices under continuous pressure. This resulted in a generally declining pricing environment. The United States saw the most significant price volatility in the region. While there were signs of recovery in the second month of the quarter, the industry remained weak due to an ongoing reduction in demand and falling manufacturing expenses linked to lower crude oil rates. These factors combined to create a difficult market landscape, as major companies had to witness changing market conditions. By the end of the quarter, product prices continued their declining trend, underscoring the persistent pricing challenges in the region.

Q2 2024:

Throughout the second quarter of 2024, the price of polystyrene in North America was marked by a major decline, largely impacted by an excess supply condition. Moreover, elevated manufacturing rates and increased stockpile levels contributed to an excess of stock that outstripped market demand. Besides this, lower rates of styrene along with decreased costs of crude oil, reduced production expenses, and further pressured market prices. Key industries such as packaging and construction saw weakened demand, which also compounded the price drop. In the United States, price volatility was more noticeable as the market experienced a sharp dip in product prices. This was driven by seasonally slower performance in the industrial sector, resulting in a subdued utilization of polystyrene. Furthermore, discounts were offered by suppliers to move excess inventory, intensifying the downward pressure on prices.

Q4 2023:

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

Q3 2024:

The polystyrene market in the Middle East and Africa (MEA) region showed steadiness during Q3 2024. This was largely attributed to a balanced demand-supply dynamic, with continued manufacturing rates and consistent consumption in sectors like construction and packaging. Unlike other regions, the MEA market did not experience significant interruptions, allowing product prices to remain relatively constant during the period. Saudi Arabia also witnessed little changes in polystyrene rates, reflecting the overall stability in the region. The minor price hike during the quarter was indicative of a generally stable market, with only brief periods of price adjustment. As a result, the quarter concluded with the market maintaining a steady pricing landscape, underscoring a state of equilibrium in this region.

Q2 2024:

Throughout the second quarter of 2024, the polystyrene market in the MEA region saw a declining trend, largely owing to an oversupply situation. Moreover, heightened manufacturing capacities and increased inventory levels had led to a surplus of material in the market, which suppliers sought to clear through aggressive strategies related to pricing. Meanwhile, weakened product consumption in industries like construction and packaging, combined with increased competition between producers, further pressured prices downward. Despite some fluctuations in the prices of polystyrene, the overall trend remained negative as suppliers adjusted prices to maintain competitiveness amidst low demand. The market in Saudi Arabia also faced ongoing price reductions due to imbalanced supply and demand dynamics, compounded by economic factors and sector-specific slowdowns.

Q4 2023:

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

Q3 2024:

The polystyrene market in the Asia Pacific region saw a steady drop in prices during Q3 2024, influenced by weak consumption by key industries like construction and packaging. This reduction in demand, coupled with an excess supply of materials and variations in the expenses of raw materials, pushed the prices downward. China saw modest fluctuations in product rates amongst other countries in the region. Despite expectations of more substantial price shifts, the market trend remained negative, with prices continuing their gradual decrease. Additionally, the latter half of the quarter saw less dramatic price movements, indicating the industry's ongoing struggle to stabilize. Overall, the region's polystyrene market faced multiple challenges, including oversupply, logistical issues, and fluctuating raw material costs, all contributing to a declining pricing landscape.

Q2 2024:

In Q2 2024, the polystyrene market in Asia Pacific experienced upward pricing pressure, largely as a result of rising expenses of crude oil and styrene. This, combined with heightened product consumption in important industries like automobile, electronics, and packaging, contributed to a general price hike across the region. Apart from this, geopolitical tensions and logistical disruptions also played a part, straining the supply chain and further driving up rates. Besides this, manufacturing operations in the region, particularly in South Korea, showed resilience, with demand staying strong in the face of production cost pressures. South Korea, in particular, saw notable price increases during this period, owing to robust demand from key industries and tight supply conditions. The market saw steady price growth, especially in the latter period of this period. This price escalation was also a result of consistent production expense increases, which were compounded by logistical challenges. The overall sentiment in the region was optimistic, with prices continuing to rise as demand outpaced supply.

Q4 2023:

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.

Polystyrene Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Polystyrene Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” 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.

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.