Northern America: Polystyrene Market 2024

Polystyrene Market Size in Northern America

In 2022, the North American polystyrene market increased by 0.3% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2017 when the market value increased by 7.1%. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Polystyrene Production in Northern America

In value terms, polystyrene production dropped to $X in 2022 estimated in export price. Over the period under review, production recorded a pronounced decline. The most prominent rate of growth was recorded in 2017 with an increase of 9.5% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Polystyrene Exports

Exports in Northern America

In 2022, the amount of polystyrene exported in Northern America shrank to X tons, with a decrease of -7.5% on the year before. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 32%. As a result, the exports reached the peak of X tons, and then fell in the following year.

In value terms, polystyrene exports expanded sharply to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 50% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

The United States represented the major exporting country with an export of around X tons, which finished at 78% of total exports. It was distantly followed by Canada (X tons), achieving a 22% share of total exports.

The United States experienced a relatively flat trend pattern with regard to volume of exports of polystyrene. At the same time, Canada (+2.5%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +2.5% from 2012-2022. Canada (+5.1 p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by -5.1% from 2012 to 2022, respectively.

In value terms, the United States ($X) remains the largest polystyrene supplier in Northern America, comprising 74% of total exports. The second position in the ranking was taken by Canada ($X), with a 26% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United States was relatively modest.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, growing by 20% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+2.3%).

Polystyrene Imports

Imports in Northern America

In 2022, the amount of polystyrene imported in Northern America rose significantly to X tons, growing by 6.1% compared with 2021. The total import volume increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by 12% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, polystyrene imports surged to $X in 2022. Total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +92.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 51% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

The United States represented the key importer of polystyrene in Northern America, with the volume of imports finishing at X tons, which was approx. 73% of total imports in 2022. It was distantly followed by Canada (X tons), making up a 27% share of total imports.

The United States was also the fastest-growing in terms of the polystyrene imports, with a CAGR of +3.0% from 2012 to 2022. Canada experienced a relatively flat trend pattern. The United States (+6.1 p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by -6.2% from 2012 to 2022, respectively.

In value terms, the United States ($X) constitutes the largest market for imported polystyrene in Northern America, comprising 75% of total imports. The second position in the ranking was held by Canada ($X), with a 25% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +4.5%.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, growing by 20% against the previous year. Import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.8% 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 +76.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 47%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+2.4%).

Source: IndexBox Platform

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