EU: Styrene Market 2024

Styrene Market Size in the EU

The EU styrene market soared to $X in 2021, surging by 46% against the previous year. The total consumption indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +55.3% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Styrene Production in the EU

In value terms, styrene production surged to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Styrene Exports

Exports in the EU

In 2021, after two years of decline, there was significant growth in overseas shipments of styrene, when their volume increased by 23% to X tons. In general, exports, however, recorded a slight shrinkage. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, styrene exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a mild downturn. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The Netherlands was the largest exporter of styrene in the European Union, with the volume of exports resulting at X tons, which was near 65% of total exports in 2021. Belgium (X tons) ranks second in terms of the total exports with a 15% share, followed by Spain (13%). Italy (X tons) and France (X tons) held a little share of total exports.

Exports from the Netherlands decreased at an average annual rate of -2.6% from 2012 to 2021. At the same time, Belgium (+10.4%) and Spain (+4.6%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +10.4% from 2012-2021. Italy experienced a relatively flat trend pattern. By contrast, France (-11.0%) illustrated a downward trend over the same period. While the share of Belgium (+9.6 p.p.) and Spain (+5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of France (-3.8 p.p.) and the Netherlands (-10.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest styrene supplier in the European Union, comprising 63% of total exports. The second position in the ranking was held by Belgium ($X), with a 16% share of total exports. It was followed by Spain, with a 13% share.

In the Netherlands, styrene exports decreased by an average annual rate of -3.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Belgium (+8.6% per year) and Spain (+2.6% per year).

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per ton, jumping by 68% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in France ($X per ton) and Italy ($X per ton), while the Netherlands ($X per ton) and Spain ($X per ton) were amongst the lowest.

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

Styrene Imports

Imports in the EU

In 2021, purchases abroad of styrene increased by 9.3% to X tons, rising for the third year in a row after two years of decline. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 16% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, styrene imports skyrocketed 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 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Belgium (X tons), distantly followed by Germany (X tons), France (X tons), the Netherlands (X tons), Austria (X tons), Finland (X tons) and Greece (X tons) were the largest importers of styrene, together achieving 85% of total imports. Poland (X tons) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Greece (with a CAGR of +7.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest styrene importing markets in the European Union were Belgium ($X), Germany ($X) and France ($X), with a combined 57% share of total imports. These countries were followed by the Netherlands, Austria, Finland, Greece and Poland, which together accounted for a further 32%.

Greece, with a CAGR of +6.1%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per ton, rising by 79% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, import prices reached 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 noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Austria ($X per ton) and France ($X per ton), while Poland ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (-0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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