The Styrene market in the USA began in March very cautiously, following a strong growth in the previous month. During the month, prices increased by almost 11.5%. This was due to the limited availability of feedstock benzene, along with strong demand from downstream packaging and automobile companies. Market sentiment became cautious as March started. Styrene prices did not increase or decrease in the first week, but a notable reduction was seen during the second week.

The change in Styrene market scenario occurred, as buyers were expecting price revisions. This was due to the strong purchasing activities that took place during February. Market participants, who wanted better clarity on the future price trends, were cautious and avoided bulk purchases. This careful buying behavior affected the Styrene market this month, stopping the growth that had been seen before.

During the first two weeks of March, Styrene market conditions began to be average. The cost pressures on feedstock benzene reduced from the previous month. But they continued to affect the production rates. Moreover, inventory levels were carefully managed in February, which resulted in moderate restocking activities this month, and helped to maintain the supply. Constant demand from the packaging and automobile sectors supported the Styrene market. Yet, suppliers continued to be cautious, showing a more reserved sentiment.

Regarding the supply, Styrene production remained stable, with many plants running normally without major shutdowns. Atofina Chemical Inc. announced Force Majeure at its Louisiana plant from March 5 to March 8. This was due to a power outage. Despite this, the overall Styrene supply chain remained stable. Improved logistics and moderate export activity maintained the domestic supply in par with the demand, avoiding any significant imbalance.

In the coming months, the Styrene market is expected to see a moderate reduction in prices. A decrease of about 1.1% is forecasted for April, because of a seasonal drop in construction activities and reduced purchase volumes. May 2025 might experience an additional drop in Styrene prices. This will be due to the continued bearishness in purchasing activities and oversupply, which could further affect the market sentiment. However, changes in feedstock benzene prices or growth in demand could completely change this scenario.

Overall, March 2025 has become a transition phase for the Styrene market in USA after the drastic growth in the previous month. The market is changing as production activities are stable, buyers are cautious, and the supply scenario is more balanced. The following months may show this outlook, in case there are no disruptions or rapid growth in demand.