Styrene price April 2024 and outlook (see chart below)
- North America:US$1.2/KG, 1.7% up
- Europe:US$1.41/KG, 0.7% up
- Northeast Asia:US$1.23/KG, 2.5% up
- South America:US$1.2/KG, unchanged
- Middle East:US$1.07/KG, 0.9% up
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Styrene Price Index
This post is a summary of the styrene price developments. The price developments of styrene are expressed in US$ prices converted FX rates applicable at the time when the price was valid. Styrene price index developments are calculated from multiple separate sources of data to ensure statistical accuracy.
The outlook for styrene prices, on the second tab, is generated from different inputs including:
- Very recent price developments of immediate cost drivers of styrene prices
- Recent price developments of underlying feedstocks which drive the price of styrene
- Market futures for both cost drives and feedstocks of styrene prices
- Adjustment of current supply/demand imbalances in the styrene market
- Longer term trends in likely demand conditions
Further information on the Styrene price chart
What is Styrene
Styrene is an organic compound with the chemical formula C8H8. It is a colorless, oily liquid that is used in the production of a variety of materials, including plastics, synthetic rubber, resins, and insulation. Styrene is also used in the production of polystyrene, which is a widely used plastic material.
What is Styrene used for
Styrene is a versatile chemical that is used in a wide variety of products and applications. Some common uses of styrene include:
Polystyrene
Styrene is a key ingredient in the production of polystyrene, which is a widely used plastic material. Polystyrene is used to make a range of products, including disposable cups and food containers, packaging materials, and insulation.
Synthetic rubber
Styrene is used as a building block in the production of synthetic rubber, which is used to make tires, seals, and other rubber products.
Resins
Styrene is used to produce a variety of resins, including unsaturated polyester resins, vinyl ester resins, and epoxy resins. These resins are used to make a range of products, including boats, automotive parts, and corrosion-resistant coatings.
Adhesives
Styrene is used in the production of certain types of adhesives, including those used to bond metal, plastics, and wood.
Styrene-butadiene rubber (SBR)
Styrene is used along with butadiene to produce SBR, which is used in a variety of applications, including as a substitute for natural rubber in tire production.
Other applications
Styrene is also used in the production of a variety of other products, including acrylonitrile-butadiene-styrene (ABS) plastics, styrene-acrylonitrile (SAN) resins, and styrene-maleic anhydride (SMA) copolymers. It is also used as a solvent in some applications.
What are the key properties of Styrene
Styrene is a versatile chemical with a wide range of properties that make it useful in various industrial applications. Some of the key properties of styrene that drive its industrial use include:
High reactivity
Styrene is highly reactive and can readily undergo polymerization, making it useful in the production of various plastics, resins, and other polymers.
Low volatility
Styrene has a relatively low vapor pressure, which makes it easier to handle and transport. This property also makes it suitable for use in applications where low volatility is important, such as in coatings and adhesives.
Good thermal stability
Styrene has good thermal stability, which makes it suitable for use in high-temperature applications. This property also makes it useful in the production of thermosetting plastics and resins.
Good electrical insulation properties
Styrene is an excellent electrical insulator, which makes it useful in electrical and electronics applications.
Transparency
Styrene is transparent, making it useful in applications where transparency is important, such as in food packaging, optical lenses, and display screens.
High strength and durability
Styrene-based plastics and composites have high strength and durability, which makes them suitable for use in a wide range of applications, including automotive and construction.
Overall, the combination of these properties makes styrene a versatile and useful chemical in a wide range of industrial applications.
How is Styrene produced
Styrene is typically produced through a process called dehydrogenation, in which ethylbenzene is heated to high temperatures in the presence of a catalyst. The process can be described as follows:
Ethylbenzene is mixed with steam and then heated to around 600-700°C in a reactor vessel.
A catalyst, usually consisting of iron oxide or chromium oxide, is added to the mixture to aid in the dehydrogenation reaction.
The heat and catalyst cause the ethylbenzene molecules to lose hydrogen atoms and form styrene molecules.
The resulting mixture of styrene and steam is cooled and condensed, allowing the styrene to separate from the water vapor and be collected.
Styrene can also be produced through other processes, such as catalytic reforming and oxidative dehydrogenation. However, the dehydrogenation process is the most common method used in industry.
What drives the cost of Styrene
The cost of styrene is influenced by a variety of factors, including:
Feedstock prices
Styrene is typically produced from ethylbenzene, which is derived from crude oil or natural gas. Therefore, the cost of crude oil and natural gas can have a significant impact on the cost of styrene.
Supply and demand
Like any commodity, the price of styrene is affected by supply and demand factors. Changes in demand for styrene-based products, such as polystyrene or synthetic rubber, can affect the price of styrene.
Production capacity
The amount of styrene that is produced globally can also affect its price. If there is an increase in production capacity, this can lead to a surplus of supply, which may drive down the price of styrene. Conversely, a decrease in production capacity can lead to a shortage of supply, which may drive up the price.
Transportation costs
Styrene is produced in various locations around the world, and transportation costs can affect the price of styrene in different regions.
Market competition
Competition between styrene producers can affect the price of styrene in a particular region. If there are only a few producers in a particular region, they may have more pricing power than if there were many producers competing for business.
Overall, the cost of styrene is influenced by a complex set of factors, and it can be subject to significant volatility due to changes in supply and demand, as well as fluctuations in feedstock and transportation costs.
What types of Styrene are there
Styrene is a chemical compound with a single structure, but there are different forms of styrene that are used in various applications. Some of the different types of styrene include:
General-purpose polystyrene (GPPS)
GPPS is a form of polystyrene that is transparent and brittle, making it ideal for use in products like food packaging, disposable utensils, and CD jewel cases.
High-impact polystyrene (HIPS)
HIPS is a modified form of polystyrene that is impact-resistant and more durable than GPPS. It is commonly used in products like refrigerator liners, toys, and product casings.
Expandable polystyrene (EPS)
EPS is a foam material made from polystyrene beads that are expanded with steam. EPS is commonly used in products like insulation, packaging materials, and flotation devices.
Styrene-butadiene rubber (SBR)
SBR is a synthetic rubber that is made from styrene and butadiene. It is commonly used in tire production, as well as in industrial applications like conveyor belts and shoe soles.
Styrene-acrylonitrile (SAN)
SAN is a copolymer made from styrene and acrylonitrile. It is a transparent and rigid material that is commonly used in applications like housewares, electronic casings, and automotive parts.
Unsaturated polyester resins (UPR)
UPR is a type of thermosetting resin made from styrene and other monomers. It is commonly used in the production of fiberglass reinforced plastics, as well as in automotive and marine applications.
Vinyl ester resins (VER)
VER is a type of thermosetting resin made from styrene and epoxy. It is commonly used in corrosion-resistant applications, such as in chemical storage tanks and pipes.
Overall, styrene is a versatile chemical that can be used to produce a wide range of materials with varying properties and characteristics.
How big is the global Styrene market
The global styrene market is significant and has been growing steadily over the years. According to a report by Mordor Intelligence, the global styrene market size was valued at approximately USD 40 billion in 2020, and it is expected to reach approximately USD 50 billion by 2026, growing at a CAGR of around 3.5% during the forecast period 2021-2026.
The Asia-Pacific region is the largest consumer of styrene, accounting for more than half of the global consumption. China is the largest consumer of styrene globally, followed by the United States and Europe. The demand for styrene is driven by the growth of various end-use industries, including packaging, automotive, construction, and electrical and electronics.
The COVID-19 pandemic has affected the styrene market, with the decline in demand in some end-use industries due to lockdowns and supply chain disruptions. However, the demand is expected to recover as the global economy recovers from the pandemic. The increasing focus on sustainable materials and the shift towards the circular economy is also expected to create new opportunities for the styrene market, as manufacturers are exploring new ways to reduce waste and improve the recyclability of their products.
According to https://oec.world/ :
Styrene are the world’s 414th most traded product.
In 2020, the top exporters of Styrene were United States ($1.65B), Saudi Arabia ($1.2B), Netherlands ($956M), South Korea ($545M), and Japan ($484M).
In 2020, the top importers of Styrene were China ($1.99B), India ($575M), Mexico ($522M), South Korea ($499M), and United States ($387M).
Which countries produce the most Styrene
The production of styrene is concentrated in a few countries, with some of the largest producers including:
China
China is the largest producer of styrene globally, accounting for over 30% of the total production. The country has a large domestic market for styrene, and it also exports significant amounts of the chemical to other countries.
United States
The United States is the second-largest producer of styrene globally, accounting for around 15% of the total production. The country has a well-established petrochemical industry, which supports the production of styrene.
Europe
Europe is another significant producer of styrene, with countries like Germany, the Netherlands, and Belgium among the largest producers. The region accounts for around 10% of the total production.
South Korea
South Korea is a major producer of styrene in Asia, with several large petrochemical companies operating in the country. It accounts for around 7% of the total production.
Taiwan
Taiwan is another significant producer of styrene in Asia, with several large petrochemical companies operating in the country. It accounts for around 5% of the total production.
Overall, the production of styrene is concentrated in a few countries, which reflects the importance of a well-established petrochemical industry in the production of this chemical.
Further information
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