Estonia: Polystyrene Market 2024

Polystyrene Market Size in Estonia

The Estonian polystyrene market shrank dramatically to $X in 2022, waning by -15.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +59.4% against 2020 indices. As a result, consumption reached the peak level of $X, and then fell rapidly in the following year.

Polystyrene Exports

Exports from Estonia

In 2022, overseas shipments of polystyrene decreased by -62.8% to X tons, falling for the second year in a row after five years of growth. Overall, exports, however, posted a mild increase. The growth pace was the most rapid in 2016 with an increase of 103%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, polystyrene exports declined dramatically to $X in 2022. In general, exports saw a slight setback. The pace of growth appeared the most rapid in 2016 with an increase of 92% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then contracted notably in the following year.

Exports by Country

Russia (X tons) was the main destination for polystyrene exports from Estonia, accounting for a 44% share of total exports. Moreover, polystyrene exports to Russia exceeded the volume sent to the second major destination, Lithuania (X tons), twofold. The third position in this ranking was taken by Hong Kong SAR (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Russia amounted to +27.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+1.5% per year) and Hong Kong SAR (+103.8% per year).

In value terms, Russia ($X) remains the key foreign market for polystyrene exports from Estonia, comprising 51% of total exports. The second position in the ranking was held by Lithuania ($X), with a 24% share of total exports. It was followed by Latvia, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Russia stood at +29.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+3.5% per year) and Latvia (-3.9% per year).

Export Prices by Country

In 2022, the average polystyrene export price amounted to $X per ton, rising by 21% against the previous year. In general, the export price, however, recorded a perceptible decrease. The most prominent rate of growth was recorded in 2021 an increase of 80% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+69.9%), while the prices for the other major destinations experienced more modest paces of growth.

Polystyrene Imports

Imports into Estonia

In 2022, approx. X tons of polystyrene were imported into Estonia; with a decrease of -28.2% on the previous year. In general, total imports indicated a modest expansion from 2012 to 2022: its volume 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. The growth pace was the most rapid in 2021 when imports increased by 24%. As a result, imports reached the peak of X tons, and then contracted sharply in the following year.

In value terms, polystyrene imports declined significantly to $X in 2022. Overall, imports, however, enjoyed a measured increase. The pace of growth appeared the most rapid in 2021 when imports increased by 129% against the previous year. As a result, imports attained the peak of $X, and then declined dramatically in the following year.

Imports by Country

In 2022, Finland (X tons) constituted the largest supplier of polystyrene to Estonia, accounting for a 40% share of total imports. Moreover, polystyrene imports from Finland exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was held by Poland (X tons), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Finland was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.0% per year) and Poland (+47.3% per year).

In value terms, Finland ($X) constituted the largest supplier of polystyrene to Estonia, comprising 41% of total imports. The second position in the ranking was taken by Germany ($X), with a 19% share of total imports. It was followed by Poland, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Finland totaled +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.6% per year) and Poland (+40.2% per year).

Import Prices by Country

The average polystyrene import price stood at $X per ton in 2022, rising by 12% against the previous year. In general, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +2.5% 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 +107.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 85%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform