Report Update Nov 1, 2024

Vietnam - Styrene - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Styrene Market 2024

Styrene Market Size in Vietnam

The Vietnamese styrene market soared to $X in 2021, surging by 20% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +8.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2021 and is likely to see gradual growth in years to come.

Styrene Exports

Exports from Vietnam

In 2021, the amount of styrene exported from Vietnam amounted to X tons, therefore, remained relatively stable against the year before. Overall, exports showed a dramatic downturn. The pace of growth appeared the most rapid in 2017 with an increase of 8,414%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, styrene exports amounted to $X in 2021. Over the period under review, exports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 10,819%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Cambodia (X tons) was the main destination for styrene exports from Vietnam, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cambodia was relatively modest.

From 2012 to 2021, the average annual growth rate of value to Cambodia was relatively modest.

Export Prices by Country

The average styrene export price stood at $X per ton in 2021, leveling off at the previous year. Overall, the export price recorded prominent growth. The pace of growth was the most pronounced in 2017 when the average export price increased by 28%. The export price peaked in 2021 and is likely to see steady growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Cambodia.

From 2012 to 2021, the rate of growth in terms of prices for the Philippines amounted to 0.0% per year.

Styrene Imports

Imports into Vietnam

After three years of growth, overseas purchases of styrene decreased by -5.4% to X tons in 2021. Overall, imports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2013 when imports increased by 96% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020, and then fell in the following year.

In value terms, styrene imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 92%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Singapore (X tons) constituted the largest styrene supplier to Vietnam, accounting for a 62% share of total imports. Moreover, styrene imports from Singapore exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. Thailand (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from Singapore amounted to +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+16.3% per year) and Thailand (+14.8% per year).

In value terms, Singapore ($X) constituted the largest supplier of styrene to Vietnam, comprising 62% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 18% share of total imports. It was followed by Thailand, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Singapore totaled +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+12.9% per year) and Thailand (+15.4% per year).

Import Prices by Country

The average styrene import price stood at $X per ton in 2021, rising by 49% against the previous year. Overall, the import price, however, showed a pronounced shrinkage. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+1.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for styrene in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, together comprising 37% of global consumption.

What are the largest producers of styrene in the world?

The countries with the highest volumes of in 2021 were the United States, China and Saudi Arabia, together accounting for 35% of global production.

What are the leading suppliers of styrene to Vietnam?

In value terms, Singapore constituted the largest supplier of styrene to Vietnam, comprising 51% of total imports. The second position in the ranking was occupied by Taiwan Chinese), with a 17% share of total imports. It was followed by Thailand, with a 15% share.

What is the average export price for styrene in Vietnam?

In 2019, the average styrene export price amounted to $1,328 per ton, almost unchanged from the previous year.

What is the average import price for styrene in Vietnam?

In 2021, the average styrene import price amounted to $932 per ton, surging by 17% against the previous year.

This report provides an in-depth analysis of the styrene market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20141250 - Styrene

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023