Seattle, USA- One of the significant producers of polymers in the USA, Kraton Corporation has recently raised the prices of all the polymers manufactured, proportionally impacting the retail prices of Styrene copolymers in the regional market. As per the statement made by the company, a general hike of USD 330 per MT has been announced on all the Hydrogenated Styrene Block Copolymer (HSBC) products which will consequently increase the market prices of Styrene Copolymer in the North American market.

According to the officials of Kraton Corporation, the gain in the prices occurred because of rising feedstock prices in the regional market. The adverse effects of the Russia and Ukraine war on the North American region's crude oil supply were evident. Feed supply with the manufacturers restricted along with inflated commodity prices directly showcasing its impact on the operational rate and production cost of Styrene Copolymer. Feedstock, Styrene is produced from benzene and ethylene downstream of crude oil. This elevation correspondingly impacted the price dynamics of Styrene Copolymer as the production cost also skyrocketed, accompanied by hiked raw material prices.

Moreover, the North American region has been suffering from heat waves raising the demand for energy in residential and industrial regions, consequently escalating the energy cost in the North American region. Hence, the manufacturers of Styrene Copolymer are countering the financial issue leading to an increase in the production cost in the regional market. Adding on to this, other facets involved in hiked prices are the continuous demand from cosmetics, personal care, and coating sectors. The North American region governs the cosmetics sectors, proportionally spiking the demand for the product in the regional market.

According to the ChemAnalyst analysis, the market pieces of Styrene Copolymer will soar in the upcoming weeks owing to the rising feedstock prices and logistics issues. The USA port is facing tight container supply and empty routes to cater to the demand from consumers. These facets will proportionally influence the prices of Styrene Copolymer in the North American region.