Russian Federation: Polystyrene Market 2025

Polystyrene Market Size in the Russian Federation

The Russian polystyrene market contracted to $X in 2022, declining by -8.7% against the previous year. Over the period under review, consumption showed a perceptible setback. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Polystyrene Production in the Russian Federation

In value terms, polystyrene production contracted to $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2013 with an increase of 23%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Polystyrene Exports

Exports from the Russian Federation

In 2022, approx. X tons of polystyrene were exported from Russia; picking up by 9.4% compared with 2021. Over the period under review, total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -3.8% against 2020 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 51%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, polystyrene exports dropped significantly to $X in 2022. In general, total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +25.5% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 55%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Belarus (X tons) was the main destination for polystyrene exports from Russia, accounting for a 57% share of total exports. Moreover, polystyrene exports to Belarus exceeded the volume sent to the second major destination, Ukraine (X tons), fourfold. The third position in this ranking was held by Poland (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Belarus amounted to +17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (-7.7% per year) and Poland (+102.6% per year).

In value terms, Belarus ($X) remains the key foreign market for polystyrene exports from Russia, comprising 54% of total exports. The second position in the ranking was taken by Ukraine ($X), with a 14% share of total exports. It was followed by Poland, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Belarus totaled +13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (-10.1% per year) and Poland (+96.3% per year).

Export Prices by Country

In 2022, the average polystyrene export price amounted to $X per ton, waning by -24.1% against the previous year. In general, the export price recorded a pronounced curtailment. The growth pace was the most rapid in 2021 when the average export price increased by 72% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were the Czech Republic ($X per ton) and Serbia ($X per ton), while the average price for exports to Belarus ($X per ton) and Kazakhstan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (-1.9%), while the prices for the other major destinations experienced a decline.

Polystyrene Imports

Imports into the Russian Federation

In 2022, polystyrene imports into Russia shrank to X tons, with a decrease of -9.4% on the year before. Over the period under review, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 34% against the previous year. Over the period under review, imports attained 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 dramatically to $X in 2022. Overall, imports saw a drastic downturn. The pace of growth was the most pronounced in 2021 with an increase of 95%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of polystyrene to Russia, with a 36% share of total imports. Moreover, polystyrene imports from South Korea exceeded the figures recorded by the second-largest supplier, Finland (X tons), twofold. The third position in this ranking was taken by Belgium (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Korea stood at -6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (+3.2% per year) and Belgium (-10.1% per year).

In value terms, South Korea ($X), Finland ($X) and Hungary ($X) appeared to be the largest polystyrene suppliers to Russia, with a combined 63% share of total imports. Belgium, Italy, China, France, Turkey and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 35%.

Turkey, with a CAGR of +44.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average polystyrene import price stood at $X per ton in 2022, with a decrease of -16.5% against the previous year. Over the period under review, the import price recorded a slight shrinkage. The growth pace was the most rapid in 2021 an increase of 59%. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Taiwan (Chinese) ($X per ton) and Finland ($X per ton), while the price for South Korea ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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