Eastern Europe: Styrene Market 2024

Styrene Market Size in Eastern Europe

In 2021, the East European styrene market increased by 6.1% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Styrene Production in Eastern Europe

In value terms, styrene production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when the production volume increased by 32%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Styrene Exports

Exports in Eastern Europe

Styrene exports dropped markedly to X tons in 2021, waning by -27.2% compared with 2020. Overall, exports recorded a pronounced contraction. The pace of growth was the most pronounced in 2018 with an increase of 33%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, styrene exports soared to $X in 2021. In general, exports continue to indicate a pronounced slump. The growth pace was the most rapid in 2018 with an increase of 49% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Russia dominates exports structure, reaching X tons, which was approx. 94% of total exports in 2021. The following exporters - Poland (X tons) and the Czech Republic (X tons) - together made up 5.5% of total exports.

From 2012 to 2021, average annual rates of growth with regard to styrene exports from Russia stood at -4.0%. At the same time, Poland (+15.2%) and the Czech Republic (+10.3%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +15.2% from 2012-2021. Poland (+2.5 p.p.) and the Czech Republic (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Russia saw its share reduced by -3.5% from 2012 to 2021, respectively.

In value terms, Russia ($X) remains the largest styrene supplier in Eastern Europe, comprising 94% of total exports. The second position in the ranking was taken by Poland ($X), with a 2.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Russia amounted to -4.8%. In the other countries, the average annual rates were as follows: Poland (+11.2% per year) and the Czech Republic (+9.6% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, picking up by 81% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (-0.6%), while the other leaders experienced a decline in the export price figures.

Styrene Imports

Imports in Eastern Europe

In 2021, approx. X tons of styrene were imported in Eastern Europe; growing by 9.1% against 2020. Overall, imports showed a modest increase. The most prominent rate of growth was recorded in 2016 with an increase of 38%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, styrene imports soared to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Poland (X tons) and Hungary (X tons) were the main importers of styrene in Eastern Europe, together achieving 73% of total imports. It was distantly followed by the Czech Republic (X tons), generating a 20% share of total imports. The following importers - Russia (X tons) and Romania (X tons) - each resulted at a 3.7% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +75.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest styrene importing markets in Eastern Europe were Hungary ($X), Poland ($X) and the Czech Republic ($X), together comprising 93% of total imports. Russia and Romania lagged somewhat behind, together accounting for a further 4.2%.

Russia, with a CAGR of +63.4%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Eastern Europe amounted to $X per ton, growing by 71% against the previous year. Over the period under review, the import price, however, showed a mild shrinkage. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Romania ($X per ton) and Hungary ($X per ton), while Poland ($X per ton) and the Czech Republic ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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