Eastern Europe: Polystyrene Market 2024

Polystyrene Market Size in Eastern Europe

In 2022, the East European polystyrene market increased by 1.3% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Polystyrene Production in Eastern Europe

In value terms, polystyrene production amounted to $X in 2022 estimated in export price. Overall, production saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2017 when the production volume increased by 13% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Polystyrene Exports

Exports in Eastern Europe

In 2022, after two years of growth, there was significant decline in overseas shipments of polystyrene, when their volume decreased by -10.1% to X tons. The total export volume increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 20%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, polystyrene exports shrank to $X in 2022. Total exports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 72%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X tons), Hungary (X tons), Poland (X tons) and the Czech Republic (X tons) represented roughly 92% of total exports in 2022. The following exporters - Lithuania (X tons) and Romania (X tons) - together made up 5.8% of total exports.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +15.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest polystyrene supplying countries in Eastern Europe were Poland ($X), Hungary ($X) and Russia ($X), together comprising 71% of total exports. The Czech Republic, Lithuania and Romania lagged somewhat behind, together comprising a further 27%.

Lithuania, with a CAGR of +19.3%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, rising by 3% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by 70% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+3.5%), while the other leaders experienced more modest paces of growth.

Polystyrene Imports

Imports in Eastern Europe

In 2022, after six years of growth, there was significant decline in purchases abroad of polystyrene, when their volume decreased by -9.1% to X tons. The total import volume increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 9.1%. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, polystyrene imports expanded modestly to $X in 2022. Total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +87.4% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 83% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

In 2022, Poland (X tons) was the major importer of polystyrene, comprising 39% of total imports. Romania (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Russia (8.1%), Hungary (7%), Lithuania (5.9%), the Czech Republic (5.7%), Belarus (5.4%) and Slovakia (4.8%).

Imports into Poland increased at an average annual rate of +3.6% from 2012 to 2022. At the same time, Lithuania (+9.4%), Hungary (+5.0%) and Romania (+4.5%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +9.4% from 2012-2022. Slovakia and the Czech Republic experienced a relatively flat trend pattern. By contrast, Belarus (-1.0%) and Russia (-8.7%) illustrated a downward trend over the same period. While the share of Poland (+8.5 p.p.), Romania (+3.7 p.p.), Lithuania (+3.2 p.p.) and Hungary (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Russia (-14.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) constitutes the largest market for imported polystyrene in Eastern Europe, comprising 41% of total imports. The second position in the ranking was taken by Romania ($X), with a 12% share of total imports. It was followed by Hungary, with a 7.1% share.

In Poland, polystyrene imports increased at an average annual rate of +6.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Romania (+5.7% per year) and Hungary (+7.1% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, rising by 13% against the previous year. Import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polystyrene import price increased by +89.0% against 2020 indices. The growth pace was the most rapid in 2021 when the import price increased by 67% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Slovakia ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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