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China - Polystyrene, In Primary Forms - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Jan 1, 2025

China - Polystyrene, In Primary Forms - Market Analysis, Forecast, Size, Trends and Insights

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Oct 8, 2021

China’s Polystyrene Production Expansion to Be Delayed Amid Energy Crisis

IndexBox has just published a new report: 'China - Polystyrene in primary forms - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

In 2021-2022, China plans to add a new production capacity for styrene and polystyrenes. This could turn China from the world's largest importer of those products into an exporter. Completion may be delayed due to electricity disruptions caused by increasing energy prices and regulations to reduce CO2 emissions. Despite the ban on single-use packaging, consumption of polystyrene in China will steadfastly grow, driven by a high demand for plastics in the construction, automotive and other industries.

Key Trends and Insights

China is the largest consumer and importer of polystyrene in the world. In 2020, the country imported 1,36M tons of primary polystyrene (nearly 20% of overall global imports) worth $1,43B.

According to industry publications, in 2021-2022 new factories for polystyrene and ABS plastics are expected to launch with a combined capacity of over 3.5M tons, including new facilities for the companies Sinopec Gulei, Zhejiang Petrochemical и Shandong Lihuaya. If these projects are completed, China may turn from a styrene importer into an exporter as the new capacity would surpass 2.8M tons or the current level imports (IndexBox estimates).

The energy crisis in China could delay the completion of these projects. Beijing's environmental protection policies have led the provinces to limit energy consumption to stay within yearly quotas. They are also diminishing manufacturing operations, including at chemical factories that use coal for power generation. To decrease greenhouse gas emissions, China must limit coal usage, but this will cause costs to increase for energy-intensive production methods.

Despite the ban on single-use polystyrene tableware and packaging in China, demand for this polymer will consistently rise. The majority of the product is used for producing Styrene-butadiene, ABS and other forms of plastics for the construction, electronics and automobile industries. Rapid developments in these sectors will drive demand for polystyrene.

China's Imports of Polystyrene in Primary Forms

In 2020, imports of polystyrene in primary forms into China expanded to 1.4M tons, increasing by +3.8% on the previous year's figure. In value terms, polystyrene imports dropped from $1.6B in 2019 to $1.4B (IndexBox estimates) in 2020.

Taiwan (Chinese) (311K tons), Malaysia (204K tons) and Hong Kong SAR (177K tons) were the leading suppliers of polystyrene imports to China, together accounting for 51% of total imports. South Korea, Singapore, Japan, Iran and Thailand lagged somewhat behind, together accounting for a further 36%.

In 2020, the most notable rate of growth in terms of purchases amongst the leading suppliers was attained by Iran (+71.3% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polystyrene suppliers to China were Taiwan (Chinese) ($369M), Hong Kong SAR ($209M) and Malaysia ($175M), together accounting for 52% of total imports. These countries were followed by South Korea, Japan, Singapore, Thailand and Iran, which together accounted for a further 35%.

The average polystyrene import price stood at $1,055 per ton in 2020, waning by -13.1% against the previous year. Average prices varied somewhat amongst the major supplying countries. In 2020, the highest prices were recorded for prices from Taiwan ($1,186 per ton) and Japan ($1,180 per ton), while the price for Malaysia ($856 per ton) and Iran ($863 per ton) were amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Hong Kong SAR, while the prices for the other significant suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the polystyrene market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 20162035 - Expansible polystyrene, in primary forms
  • Prodcom 20162039 - Polystyrene, in primary forms (excluding expansible polystyrene)

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in China
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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