Iran: Polystyrene Market 2024

Polystyrene Market Size in Iran

After four years of decline, the Iranian polystyrene market increased by 7.9% to $X in 2022. In general, consumption, however, showed a relatively flat trend pattern. Polystyrene consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Polystyrene Production in Iran

In value terms, polystyrene production declined to $X in 2022 estimated in export price. In general, production, however, posted a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 112% against the previous year. Polystyrene production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Polystyrene Exports

Exports from Iran

In 2022, the amount of polystyrene exported from Iran shrank sharply to X tons, with a decrease of -15.8% compared with the previous year's figure. In general, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 207%. Over the period under review, the exports hit record highs at X tons in 2021, and then fell rapidly in the following year.

In value terms, polystyrene exports contracted dramatically to $X in 2022. Over the period under review, exports, however, posted significant growth. The pace of growth was the most pronounced in 2014 with an increase of 205% against the previous year. The exports peaked at $X in 2021, and then declined markedly in the following year.

Exports by Country

Turkey (X tons), Bulgaria (X tons) and Romania (X tons) were the main destinations of polystyrene exports from Iran, with a combined 31% share of total exports. Uzbekistan, Serbia, Kazakhstan, Poland, Greece, Ukraine, Hungary, North Macedonia and Bosnia and Herzegovina lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Greece (with a CAGR of +128.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polystyrene exported from Iran were Turkey ($X), Bulgaria ($X) and Romania ($X), with a combined 31% share of total exports. Serbia, Uzbekistan, Kazakhstan, Poland, Greece, Ukraine, Hungary, Bosnia and Herzegovina and North Macedonia lagged somewhat behind, together accounting for a further 27%.

Greece, with a CAGR of +129.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average polystyrene export price amounted to $X per ton, with a decrease of -15.4% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 75%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per ton), while the average price for exports to Uzbekistan ($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 Afghanistan (+34.9%), while the prices for the other major destinations experienced more modest paces of growth.

Polystyrene Imports

Imports into Iran

In 2022, approx. X tons of polystyrene were imported into Iran; which is down by -3.6% on 2021. Over the period under review, imports recorded a sharp contraction. The most prominent rate of growth was recorded in 2015 when imports increased by 14%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, polystyrene imports dropped to $X in 2022. In general, imports saw a dramatic downturn. The pace of growth was the most pronounced in 2013 when imports increased by 9.9%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of polystyrene to Iran, accounting for a 84% share of total imports. Moreover, polystyrene imports from Turkey exceeded the figures recorded by the second-largest supplier, South Korea (X tons), tenfold. The third position in this ranking was taken by Bosnia and Herzegovina (X tons), with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey totaled -19.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-44.9% per year) and Bosnia and Herzegovina (0.0% per year).

In value terms, Turkey ($X) constituted the largest supplier of polystyrene to Iran, comprising 80% of total imports. The second position in the ranking was held by South Korea ($X), with a 13% share of total imports. It was followed by Bosnia and Herzegovina, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value from Turkey amounted to -18.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-43.3% per year) and Bosnia and Herzegovina (0.0% per year).

Import Prices by Country

In 2022, the average polystyrene import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 20% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

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 China ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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