MERCOSUR: Styrene Market 2024

Styrene Market Size in MERCOSUR

In 2021, after two years of decline, there was significant growth in the MERCOSUR styrene market, when its value increased by 7.5% to $X. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Styrene Production in MERCOSUR

In value terms, styrene production rose rapidly to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 18%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Styrene Exports

Exports in MERCOSUR

In 2021, after three years of decline, there was significant growth in overseas shipments of styrene, when their volume increased by 42% to X tons. Over the period under review, exports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2015 when exports increased by 46%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, styrene exports surged to $X in 2021. In general, exports, however, continue to indicate a abrupt slump. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Argentina represented the major exporting country with an export of about X tons, which finished at 69% of total exports. It was distantly followed by Brazil (X tons) and Chile (X tons), together making up a 26% share of total exports. Colombia (X tons) took a little share of total exports.

Exports from Argentina decreased at an average annual rate of -18.1% from 2012 to 2021. At the same time, Chile (+100.3%) and Brazil (+47.5%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +100.3% from 2012-2021. By contrast, Colombia (-17.0%) illustrated a downward trend over the same period. Brazil (+20 p.p.) and Chile (+6.8 p.p.) significantly strengthened its position in terms of the total exports, while Argentina saw its share reduced by -25.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) remains the largest styrene supplier in MERCOSUR, comprising 67% of total exports. The second position in the ranking was taken by Brazil ($X), with a 22% share of total exports. It was followed by Chile, with a 5.7% share.

In Argentina, styrene exports shrank by an average annual rate of -18.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (+46.7% per year) and Chile (+89.1% per year).

Export Prices by Country

In 2021, the export price in MERCOSUR amounted to $X per ton, increasing by 56% against the previous year. Over the period under review, the export price showed 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 somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Colombia ($X per ton) and Brazil ($X per ton), while Chile ($X per ton) and Argentina ($X per ton) were amongst the lowest.

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

Styrene Imports

Imports in MERCOSUR

In 2021, after four years of growth, there was decline in purchases abroad of styrene, when their volume decreased by -1.6% to X tons. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 17% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, styrene imports soared to $X in 2021. In general, imports recorded a slight downturn. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Brazil (X tons) represented the largest importer of styrene, mixing up 54% of total imports. It was distantly followed by Colombia (X tons) and Chile (X tons), together generating a 40% share of total imports. The following importers - Argentina (X tons) and Peru (X tons) - each resulted at a 3.8% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Argentina (with a CAGR of +150.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Colombia ($X) and Chile ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 93% share of total imports. These countries were followed by Argentina and Peru, which together accounted for a further 4%.

Among the main importing countries, Argentina, with a CAGR of +139.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2021, rising by 69% against the previous year. In general, the import price, however, showed a slight reduction. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Peru ($X per ton) and Argentina ($X per ton), while Brazil ($X per ton) and Colombia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (-1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform