The latest report by IMARC, titled "Styrene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data" delivers a comprehensive analysis of styrene prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Styrene Prices December 2023:
- Mexico: 1169 USD/MT
- Japan: 1046 USD/MT
- Netherlands: 1028 USD/MT
- Saudi Arabia: 957 USD/MT
- Brazil: 1176 USD/MT
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The study delves into the factors affecting styrene price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Styrene Price Trend- Q4 2023
The styrene market's dynamics are complex, influenced by a myriad of factors including supply-demand equilibrium, international demand fluctuations, inventory levels, and global economic indicators. In the quarter ending December 2023, the North American market showed a degree of stability, albeit with moderate supply and demand levels. This equilibrium was, however, slightly offset by a limited market off-take and a reduction in international demand, indicating a trend towards potential price decreases. In Mexico, a noticeable price decline was observed, reflecting a bullish market driven by high to moderate demand levels. Conversely, the United States saw a continuation of the declining price trend, suggesting a transition towards a bearish market characterized by strategic short positioning by sellers and cautious procurement by overseas buyers. This trend was further exacerbated by significant end-user inventories, leading to a trading slowdown. Such conditions reflect a market responsive to both internal and external economic pressures, indicating a complex interplay between supply chain dynamics, market sentiment, and global economic health driving the styrene market towards the end of 2023.
The global styrene market size reached US$ 7 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 12.3 Billion, at a projected CAGR of 6.40% during 2023-2032. The price dynamics of the styrene market in December 2023 were shaped by a variety of factors, with each region presenting unique challenges and trend. In the APAC region, a decline in styrene prices was notable, driven primarily by a surplus in product supplies and weakened demand. The market faced limited uptake, and this was compounded by a slight dip in new orders from other Asian markets, necessitating price adjustments. Japan, in particular, experienced a significant price reduction due to an oversupply and diminished demand, despite a bullish market sentiment stemming from high demand in downstream industries like PS, EPS, and ABS. The continuous weakness in upstream crude oil prices and currency depreciation further influenced market fundamentals, leading to a 4% quarter-on-quarter price decline. This scenario illustrates the sensitivity of styrene prices to supply-demand imbalances, market sentiment, and external economic factors such as crude oil prices and currency value.
Europe's styrene market echoed similar trend of price decline, attributed mainly to an oversupply and weakened demand across the region. The downward pressure on prices was further accentuated by the depreciation of feedstock prices, including Benzene and Ethylene, and reduced crude oil prices, contributing to lower production costs. The Netherlands, for instance, saw a considerable decrement in market value, albeit with resilient fundamentals in downstream sectors. This price reduction is indicative of the broader economic challenges facing the European market, including fluctuating feedstock prices and broader economic uncertainties impacting demand. In contrast, the MEA region exhibited a slight increase in prices from the previous quarter to Q4 2023, yet the quarterly analysis reveals a decline in prices from October to December 2023. This decline was primarily due to decreased demand from the Asian market and subsequent market saturation, leading to price adjustments. The South American market, particularly Brazil, faced a downtrend in prices, reflective of the fragile demand from downstream manufacturing sectors and an oversupply situation leading to ample inventories.
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Key Points Covered in the Styrene Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Styrene Prices
- Styrene Price Trend
- Styrene Demand Supply
- Styrene Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Styrene Price Analysis
- Styrene Industry Drivers, Restraints, and Opportunities
- Styrene News and Recent developments
- Global Event Analysis
- List of Key Players
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
Browse More Pricing Reports By IMARC Group:
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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IMARC is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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