Canada: Expansible Polystyrene Market 2024

Expansible Polystyrene Market Size in Canada

In 2021, after three years of growth, there was significant decline in the Canadian expansible polystyrene market, when its value decreased by -29.8% to $X. In general, consumption, however, continues to indicate a notable expansion. As a result, consumption reached the peak level of $X, and then contracted rapidly in the following year.

Expansible Polystyrene Production in Canada

In value terms, expansible polystyrene production fell dramatically to $X in 2021 estimated in export price. Overall, production, however, posted a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of 59% against the previous year. As a result, production attained the peak level of $X, and then dropped remarkably in the following year.

Expansible Polystyrene Exports

Exports from Canada

In 2021, overseas shipments of expansible polystyrene in primary forms increased by 175% to X tons, rising for the second year in a row after two years of decline. Overall, exports recorded notable growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, expansible polystyrene exports skyrocketed to $X in 2021. Over the period under review, total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for expansible polystyrene exports from Canada, accounting for a 82% share of total exports. Moreover, expansible polystyrene exports to the United States exceeded the volume sent to the second major destination, Mexico (X tons), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +2.5%.

In value terms, the United States ($X) remains the key foreign market for expansible polystyrene in primary forms exports from Canada, comprising 84% of total exports. The second position in the ranking was taken by Mexico ($X), with a 10% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +3.2%.

Export Prices by Country

The average expansible polystyrene export price stood at $X per ton in 2021, falling by -43.7% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by 62%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Mexico amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.7%).

Expansible Polystyrene Imports

Imports into Canada

In 2021, purchases abroad of expansible polystyrene in primary forms increased by 16% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 25%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, expansible polystyrene imports soared to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Mexico (X tons), Taiwan (Chinese) (X tons) and the United States (X tons) were the main suppliers of expansible polystyrene imports to Canada, together accounting for 73% of total imports. South Korea, Germany, China and Austria lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +32.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest expansible polystyrene suppliers to Canada were Mexico ($X), the United States ($X) and Taiwan (Chinese) ($X), together accounting for 73% of total imports. South Korea, Germany, Austria and China lagged somewhat behind, together accounting for a further 27%.

Austria, with a CAGR of +37.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average expansible polystyrene import price amounted to $X per ton, increasing by 45% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2014; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :