For the Quarter Ending September 2024
North America
Q3 2024 in the North American Styrene Copolymer market was marked by an upward trend in prices, primarily driven by steady demand from key industries such as packaging, automotive, and consumer goods. This demand surge led to increased production activity, although the supply chain faced several challenges. Rising raw material costs, especially due to inflationary pressures, contributed to higher prices for Styrene Copolymer. Additionally, logistical disruptions, including transportation delays, added to the overall cost structure, further fueling the price increases observed during this period.
In the United States, the market saw particularly pronounced price fluctuations. The mid-quarter recorded a gradual price increase as manufacturers responded to strong demand. The Purchasing Managers' Index (PMI) indicated a slight dip in overall manufacturing activity, reflecting broader economic pressures; however, this did not dampen the demand for Styrene Copolymer. The resilient demand from consumer-driven sectors and the emphasis on domestic production helped maintain a positive pricing trend throughout the quarter, despite these macroeconomic challenges.
By the end of Q3, prices settled at USD 1,720 per metric ton for Styrene Copolymer FOB Louisiana, marking a consistent uptrend over the three-month period. The USA witnessed the highest price change, reflecting strong demand and the associated pressures on supply. Although there was a marginal price drop from the previous quarter, the overall quarter maintained an upward trajectory with no reported plant shutdowns or major production disruptions. The steady demand and supply constraints led to a market environment characterized by rising prices and a cautiously optimistic sentiment.
APAC
In Q3 2024, the Styrene Copolymer market in the APAC region experienced a sustained downward trend, with prices consistently declining over the quarter. This price trajectory was driven by several factors, including reduced demand from key sectors like construction and automotive, global fluctuations in raw material costs, and typical seasonal slowdowns. Supply chain challenges and cautious production volumes added to the bearish market sentiment, leading to subdued dynamics overall. Within the region, India experienced the most significant price changes, with monthly adjustments reflecting demand variations and competitive pressures in the market. Despite generally stable supply chains, the APAC market faced consistent downward pressure on pricing, compounded by economic uncertainties and a lack of new project initiations. The quarter concluded with Styrene Acrylic Acid 90 Solid priced at USD 1,754 pet MT on CFR - JNPT basis in India. This continued reduction in prices aligns with the broader regional trend, highlighting the cautious market environment and challenges in sustaining higher price points amidst fluctuating demand and increasing cost pressures.
Europe
In Q3 2024, the Styrene Copolymer market in Europe experienced a fluctuating pricing environment due to several factors. Demand from sectors such as automotive, construction, and consumer goods remained steady, supporting prices; however, manufacturers faced supply chain constraints, primarily stemming from elevated raw material and energy costs. These factors impacted production volumes, adding complexity to the market dynamics in the region. Additionally, heightened competition from alternative materials pressured producers to maintain competitive pricing, balancing profitability with market share retention. Germany experienced the most pronounced price movements within Europe, driven by industrial demand and local economic conditions. Seasonal adjustments in the automotive and construction industries further influenced styrene copolymer pricing, with demand peaks and troughs shaping the quarter's overall pricing pattern. In response to these pressures, some manufacturers optimized inventory management and focused on operational efficiency to adapt to fluctuating market conditions. Despite these challenges, the quarter concluded with stable pricing due to a balanced supply-demand situation, allowing manufacturers to navigate the pricing landscape effectively. The pricing environment remained cautious but resilient as companies adjusted to market and economic pressures, maintaining production without significant disruptions.
For the Quarter Ending June 2024
North America
In Q2 2024, the North American Styrene Copolymer market encountered a predominantly negative pricing environment. The quarter was marked by a significant downward trend, driven by several interrelated factors. Weak demand from key downstream sectors such as automotive and electronics exerted substantial pressure on prices. Moreover, the styrene feedstock cost reduction, coupled with logistical challenges, further exacerbated the price dip. The broader economic uncertainties, including fluctuations in crude oil prices, contributed to a less favourable market sentiment. Additionally, high inventory levels, reflecting previous overproduction, led suppliers to offer discounts to clear excess stock, further driving prices down.
Focusing on the USA, the country experienced the most pronounced price changes within the region, highlighting a stark decline in the overall trends. The manufacturing sector's performance was subpar, with the output index hitting a low, directly impacting the demand for Styrene Copolymer. Seasonality also played a role, as the typical seasonal slowdown in industrial activities reduced immediate demand. The correlation in price changes revealed that while some sectors like construction provided a modest cushion of demand, it was insufficient to offset the broader negative trends.
Comparing the first and second halves of the quarter, a notable -6.5% reduction was observed, culminating in a significant downtrend. Concluding the quarter, the price settled at USD 1,700/MT for Styrene Acrylic Copolymer FOB Louisiana, reflecting a challenging quarter for the Styrene Copolymer market. Despite efforts to stabilize, the overall pricing environment remained negative, influenced by sluggish market dynamics and persistent supply chain pressures.
APAC
In Q2 2024, the Styrene Copolymer market in the APAC region experienced a pronounced upward trend in pricing. This quarter witnessed significant price increases driven by several key factors. Predominantly, the escalations in raw material costs, notably styrene and acrylic acid, played a crucial role in inflating overall market prices. Additionally, supply chain disruptions, including plant shutdowns and logistical bottlenecks, exacerbated the situation, causing further upward pressure on prices. The increased demand from major sectors such as automotive, construction, and packaging, combined with a steady recovery in industrial activities post-pandemic, provided a strong demand base that supported this price surge. Focusing on India, the region with the most substantial price shifts, the overall trend was markedly bullish. Seasonality factors, particularly heightened activity in the construction sector during the summer months, coupled with robust demand from the automotive industry, significantly influenced the pricing trajectory. The correlation between increased industrial activities and price changes was evident, with a recorded price change of 7% from the previous quarter in 2024. Furthermore, the first half of the quarter saw slightly lower price increments compared to the second half, with a noted difference of 1.3%. The quarter concluded with the price of Styrene Acrylic Acid 90 Solid on a CFR JNPT basis at USD 1,853 per metric ton. This consistent increase reflects a positive pricing environment, underscored by strong market fundamentals and resilient demand, despite the challenges posed by supply-side constraints.
Europe
In Q2 2024, the Styrene Copolymer market in the Europe region has been characterized by a consistent downward trend in prices. Various factors have converged to exert significant downward pressure on the market. Key among these has been the persistent weak demand from critical downstream industries, such as automotive and electronics, which have scaled back procurement activities due to economic uncertainties. Moreover, the reduction in feedstock prices, particularly styrene, significantly contributed to the overall decrease in Styrene Copolymer prices. High inventory levels across the region further exacerbated the situation, prompting suppliers to offer substantial discounts to clear their stocks. The stability of input costs, coupled with improved logistics and supply chain efficiencies, alleviated some supply constraints, thereby supporting the decreasing price trend. Focusing exclusively on Germany, the country observed the most pronounced price changes within the region. Overall trends indicated a decline driven by reduced procurement activities in key manufacturing sectors, influenced by both global economic pressures and localized market contractions. The seasonality effect was evident as demand typically wanes during the summer months, aligning with the observed price decrease. From the same quarter last year, prices in Germany fell, reflecting the ongoing market contraction. Comparing Q2 to the previous quarter of 2024, there was a noticeable drop, further illustrating the negative sentiment pervading the market. The first half of the quarter saw higher prices than the latter half, marking a clear decrease. Concluding this quarter, the price environment in Germany was distinctly negative, driven by the interplay of reduced demand, oversupply, and stabilized input costs.
For the Quarter Ending March 2024
North America
In Q1 2024, the North American market for Styrene Copolymer reflected a rebound, with prices in March peaking at $1740/MT on FOB basis in Louisiana. The start of the year witnessed a dip, possibly due to a sluggish demand from key sectors, leading to cautious production across the United States. However, as the quarter progressed, there was a marked improvement, influenced by a rise in export orders, particularly from Northern Europe, as companies aimed to reduce costs amidst logistical upheavals in the Red Sea.
The rise in raw material prices, particularly styrene, compounded by growing production expenses, pushed the prices upwards. Despite an initial slump, demand from downstream industries such as construction materials began to solidify, driving warehouse levels to a moderate standing. Upstream firms sought to stabilize the shifting demand dynamics, though they faced challenges in promptly scaling up production to meet the uptick in export-driven orders.
This resulted in notable shortages and delivery delays, underpinning the March price increase. The market's resilience was a testament to its capability to navigate through supply chain complexities and adjust to the changing economic landscape.
APAC
In the first quarter of 2024, the Asian market for Styrene Copolymer, particularly in India, experienced significant price increases, with March seeing a closing figure of USD 1762 per metric ton. This hike in prices can be traced back to a combination of contributing factors, including rising styrene costs and persistent disruptions in the Red Sea that affected imports from Europe. Additionally, increased rates for the feedstock acrylic acid further pressured costs upward. The Indian market specifically saw a strengthening in manufacturing PMI, signalling robust growth in factory output and new orders, indicating a healthy industrial sector. This was supported by strong domestic demand from downstream sectors such as automotive, electronics, and packaging, which remained resilient despite heightened freight charges and supply chain difficulties. The market navigated through these challenges with strategic imports from South Korea and Singapore to bolster inventory levels. The persistent shortages, partly due to decreased imports from China and logistical challenges, were somewhat mitigated by imports from other regions like Saudi Arabia. Overall, the Asian Styrene Copolymer market in Q1 2024 was characterized by dynamic demand, supply chain complexity, and upward pricing trends.
Europe
In the first quarter of 2024, the European market for Styrene Copolymer, particularly in Germany, experienced a dynamic period. Germany, a key player in the European petrochemical industry, faced various factors impacting the Styrene Copolymer market, including supply chain disruptions and feedstock price variations. The market trends during this period were reflective of broader economic activities, including manufacturing outputs and demand from downstream industries. The industry navigated through the complexities of increased production costs due to rising feedstock prices. Despite these cost pressures, the German market continued to show resilience, supported by robust demand from various applications sectors. This demand was not only fuelled by the domestic market but also by the export activities, particularly to the Northern European countries, which sought to manage costs amid disruptions in the Red Sea region affecting global shipping. The versatility of Styrene Copolymer, used in diverse applications like automotive parts, electrical insulation, and food packaging, due to its strength and transparency, kept the market buoyant despite challenges. Overall, the German Styrene Copolymer market's performance was a testament to the industry's flexibility in responding to external market pressures and its ability to leverage the country's manufacturing prowess to meet both domestic and international demand.
For the Quarter Ending December 2023
North America
The North American Styrene Copolymer market in the fourth quarter of 2023 experienced a decline in prices, primarily influenced by the weakness in feedstock Styrene fundamentals and lower energy prices. Suppliers offered discounts to stimulate market participation, while demand from the downstream industries remained moderate to low. Despite the availability of sufficient material and a continuous supply situation, buyers showed reluctance in placing substantial orders, resulting in an oversupply of the product. No plant shutdowns were reported during this period.
In the United States, the largest market in the region, Styrene Copolymer prices decreased by compared to the previous quarter. This decline was driven by the prevailing weakness in feedstock Styrene prices and the increased local market inventories. Buyers took advantage of the discounted rates offered by suppliers to procure immediate stock, rather than pursuing bulk purchases.
In summary, the North American Styrene Copolymer market in the fourth quarter of 2023 was characterized by declining prices due to weak feedstock fundamentals and lower energy prices. The market experienced an oversupply situation, leading to discounted rates and a moderate to low demand from the downstream industries. In the United States, prices decreased by 3% compared to the previous quarter. The quarter ending price in the USA was USD 1660/MT for Styrene Copolymer FOB Louisiana.
APAC
In Q4 2023, the APAC region witnessed an upward trend in Styrene Copolymer pricing, influenced by several factors. Firstly, the strength in feedstock Styrene prices played a significant role in shaping the pricing dynamics. The decrease in feedstock costs exerted upward pressure on Styrene Copolymer prices. Secondly, a shortage of Styrene Copolymer supply in the market led to undersupply situations, posing challenges in managing low inventory and contributing to a bullish market outlook. Lastly, robust demand from downstream industries, with a preference for immediate stock procurement over bulk purchases, further bolstered the market. Specifically in India, Q4 2023 marked a bullish market for Styrene Copolymer. Heightened demand from the Automotive and Construction sectors, coupled with lower product inventories, drove robust trading activities and price increases. However, the limited supply of Styrene Copolymer posed challenges in meeting market demand. The surge in feedstock Styrene prices and escalating energy costs also added to the overall production cost of the product. Regarding price trends in India, there was a 6% increase in October 2023 compared to the previous month, followed by a slight decrease of 0.8% in December 2023. The quarter-ending price for Styrene Acrylic Acid 90 Solid CFR JNPT in India was reported at USD 1573/MT.
Europe
In Q4 2023, the European Styrene Copolymer market witnessed a mixed trend in pricing, influenced by several factors. Firstly, the strength in feedstock Styrene prices played a significant role in shaping the pricing dynamics. The increase in feedstock costs exerted upward pressure on Styrene Copolymer prices. Secondly, a shortage of Styrene Copolymer supply in the market led to undersupply situations, posing challenges in managing low inventory and contributing to a bullish market outlook. Lastly, robust demand from downstream industries, with a preference for immediate stock procurement over bulk purchases, further bolstered the market. Specifically in Europe, Q4 2023 marked a bullish market for Styrene Copolymer. Heightened demand from the Automotive and Construction sectors, coupled with lower product inventories, drove robust trading activities and price increases. However, the limited supply of Styrene Copolymer posed challenges in meeting market demand. The surge in feedstock Styrene prices and escalating energy costs also added to the overall production cost of the product. Suppliers offered discounts to stimulate market participation, while demand from the downstream industries remained high. Despite the availability of sufficient material and a continuous supply situation, buyers showed reluctance in placing substantial orders, resulting in an oversupply of the product. No plant shutdowns were reported during this period. In summary, the European Styrene Copolymer market in the fourth quarter of 2023 was characterized by an upward trend in prices due to strong feedstock fundamentals and robust demand.
For the Quarter Ending September 2023
North America
In the United States market for Styrene Copolymer, the third quarter of 2023 witnessed an overall upward price trend. At the beginning of Q3, Styrene Copolymer experienced a significant price increase compared to the previous month. This surge can be primarily attributed to the rising Feedstock Styrene market, driven by increasing crude oil prices. Positive economic indicators, including reduced recession fears and rising interest rates, supported economic expansion, particularly in downstream industries like Automotive, strengthening market fundamentals. Moving into the second month of Q3, the US Styrene Copolymer market continued to see an uptick in demand. This was driven not only by the Automotive and Electronics sectors but also by the substantial surge in feedstock Styrene prices, accompanied by increased Naphtha prices. Furthermore, deliberate oil supply reductions by the Organization of Petroleum Exporting Countries (OPEC) added to the upward pressure due to rising energy costs. As September arrived, heightened demand for Styrene Copolymer, originating from the downstream Automotive and Construction sectors in both the Asian and domestic regions, sustained buyer interest. Despite lower product inventories and increased consumption rates, robust trading activities took place, creating a favorable environment for sellers to enhance their profit margins on the product. Additionally, the continuous rise in feedstock Styrene prices and energy costs added to the overall production cost. This combination of factors contributed to the rising price trend throughout the quarter.
APAC
In the Chinese market for Styrene Copolymer, the third quarter of 2023 experienced an overall upward price trend. At the beginning of Q3, Styrene Copolymer witnessed a significant price increase compared to the previous month. This surge was primarily attributed to the rising Feedstock Styrene market, driven by increasing crude oil prices. further rise in demand from particularly in downstream industries like Automotive, strengthening market fundamentals. As the quarter progressed into its second month, the Chinese Styrene Copolymer market continued to see growing demand. This heightened demand was not only seen in the Automotive and Electronics sectors but also in the substantial surge in feedstock Styrene prices, coupled with increased Naphtha prices. Additionally, deliberate oil supply reductions by the Organization of Petroleum Exporting Countries (OPEC) contributed to the upward pressure due to rising energy costs. When September arrived, the demand for Styrene Copolymer remained elevated, originating from downstream Automotive and Construction sectors. Despite lower product inventories and increased consumption rates, robust trading activities took place. The combined impact of these factors led to the rising price trend throughout the quarter in the Chinese Styrene Copolymer market.
Europe
In the European market for Styrene Copolymer, the third quarter of 2023 witnessed an overall upward price trend. At the beginning of Q3, Styrene Copolymer experienced a significant price increase compared to the previous month. This upward trajectory can be primarily attributed to the rising Feedstock Styrene market, driven by increasing crude oil prices. Positive economic indicators, including reduced recession fears and rising interest rates, supported economic expansion, particularly in downstream industries like Automotive, strengthening market fundamentals. Moving into the second month of Q3, the European Styrene Copolymer market continued to see an uptick in demand. This was driven not only by the Automotive and Electronics sectors but also by the substantial surge in feedstock Styrene prices, accompanied by increased Naphtha prices. Furthermore, deliberate oil supply reductions by the Organization of Petroleum Exporting Countries (OPEC) added to the upward pressure due to rising energy costs. As September arrived, heightened demand for Styrene Copolymer, originating from the downstream Automotive and Construction sectors in both the European and domestic regions, sustained buyer interest. Despite lower product inventories and increased consumption rates, robust trading activities took place, creating a favorable environment for sellers to enhance their profit margins on the product. Additionally, the continuous rise in feedstock Styrene prices and energy costs added to the overall production cost. This combination of factors contributed to the rising price trend throughout the quarter in the European Styrene Copolymer market.
For the Quarter Ending June 2023
North America
The Q2 2023 started with increase in price trend with increase in market fundamentals and high purchasing activities. In May 2023, the price of Styrene Copolymer surged to USD 1700/ton FOB Louisiana. In the USA, the traded price of Styrene-Copolymer assessed an incline price trajectory in the wake of expected support from downstream Coating and Adhesive industry. Inadequate supplies of product in domestic ports have been observed, lack in records level disturbed the market supply added to gradual increase in trading activities in the region. However, during June 2023, the prices slipped in the wake of low trade volume and high inventory level. The demand expectation from the downstream coating and adhesive producing industries observed low. According to market participants, there were no supply difficulties which resulted in the inclining inventories in the market. Additionally, the declining feedstock styrene price and continuous dipping demand pressure prompted market participants to keep the prices on the weaker side to keep the prices economical.
Asia Pacific
When compared with the previous quarter, the price of Styrene Copolymer in the Asia Pacific region slumped with low purchasing activities and low trade volume among the significant manufacturing units. Styrene Copolymer domestically traded price in the Asian market showed a decline in price as a result of lower demand from the adhesive and coating industries downstream. The material's healthy availability, on the other hand, had reduced the gap between demand and supply, allowing buyers to offer lower bid prices. However, the suppliers were also compelled to alter the product's price due to the lower cost support provided by upstream crude oil price. In addition, sellers are offering discounts to increase the market transactions. Adequate supplies of product in domestic ports kept the market oversupplied despite low demand amid feeble purchasing activities. Meanwhile, the market fundamentals remain bearish. With it, Suppliers continued to receive inquiries about the product with sufficient stocks. In terms of downstream market, the automobile and housing sectors thrive in the Asian market and the requirement of product slumped.
Europe
Recession fear and economic uncertainty in the European market had affected the market trading fundamentals in the wake of bearish purchasing activities. The disruption between supply and demand forced the producers to decline the price trend. Significant manufacturing units remain skeptical about increasing the prices along with cautious stance from the downstream enterprises. The consumption of Styrene Copolymer from the downstream Automobile market also started to decline, and suppliers began to trade the product on an immediate basis. The value chain of Styrene showed a downward trend with weak market fundamentals and a plummet in trading activities. In Germany, Styrene Copolymer prices declined due to adequate inventories and subdued demand. Supplier interest waned as they viewed a slowdown into Q2 2023 and faced a lack of demand for new supply. With declining energy and utility costs, feedstock Styrene producers operated their operation units at significantly reduced rates to avoid further stockpiling. Exports from Germany to the European region significantly declined, and suppliers remained reluctant to increase prices.
For the Quarter Ending March 2023
North America
The Styrene Copolymer market had opposing viewpoints in the first quarter of 2023 as a result of shifting upstream (crude oil) prices in the local market. Styrene Copolymer prices increased towards the end of the quarter as a result of an expanding demand-supply gap and rising crude oil prices. Supply chain problems and labor scarcity in the US made the situation worse. The production rate of styrene copolymer in the local market was impacted towards the end of the previous quarter by the Brazil carnival and the lowering temperatures. The ultimate prices of Styrene Copolymer in the US market in Q1 2023 were impacted proportionally by the downstream buyers' reduced purchasing activity.
Asia-Pacific
Styrene Copolymer prices in the Asia-Pacific market have been steadily declining due to a low production rate. The first quarter saw a drop due to lower upstream (crude oil) prices in the international market; as a result, suppliers and end users hoarded the product. Additionally, the product's weak February demand had a proportionate effect on the ultimate costs. Additionally, there were other difficulties in the second half of the quarter, including a slow supply chain and trucker strikes in South Korea. Due to COVID restrictions and sluggish product demand, the Chinese market was quiet for the entirety of the quarter. Fewer queries were made to suppliers, which had an effect on the Asian market prices.
Europe
The Styrene Copolymer market experienced unfavorable market sentiments throughout the first quarter of 2023 as a result of shifting upstream (crude oil) prices in the global market. Along with fluctuating crude oil prices in the domestic market, the product's demand fell. Despite the stabilization of the inflation rate, the market for Styrene Copolymers continued to go downward. In spite of local seasonal fluctuations, the demand for the product decreased due to rising energy costs and a low employment rate. Slow demand was evident in the styrene copolymer industries, which affected the ultimate costs of the material in the European market.
For the Quarter Ending December 2022
North America
Prices for Styrene copolymer have decreased throughout Q4 of 2022, and as a result, there has been little change in the product's price across the US market. This offers continued low-price volatility for the remaining months of the quarter. In the US market in December, Styrene copolymer prices were seen to be stable at USD 1700/MT on the FOB basis. During that time, traders and suppliers on the domestic market had a greater supply of styrene copolymer than the market's existing inventory. According to reports, the offtakes and production rates fell along with the downstream inquiries.
Europe
Throughout the last quarter of 2022, the Styrene Copolymer market displayed unfavorable market sentiments. Styrene Copolymer prices remained low due to variable demand in the regional market and moving upstream crude oil prices on the worldwide market. Despite modest stabilization of the European region's inflation rate during the quarter, the cost of styrene copolymer kept falling. Freight rates in the European region decreased by 2%, which had an impact on market sentiments and relieved the cost pressure from rising polymer costs.
APAC
During the fourth quarter of 2022, a significant fall in demand for styrene copolymers was seen in the Asian Pacific market. Although the demand, which remained largely poor during the quarter, was the only factor taken into account for downstream procurement. Additionally, the trading environment continued to be sluggish, which contributed to the slowness of Indian inquiries. As a result, southeast Asian market trading remained sluggish, and Chinese traders maintained their caution as they had heard about the multinational players offering discounts on their cargo. Additionally, Q4 saw a series of downturns in upstream pricing, which aided producers in stepping up production and later stockpiling, resulting in an abundance of supplies in the area.
For the Quarter Ending September 2022
North America
Following the trend from the previous quarter, the price of Styrene Co-polymer continued to decline in the H1 of the third quarter of 2022. The US cosmetics and personal care segment have also been quiet, dulling the country's market. Styrene and its derivatives are now less expensive due to reduced feedstock costs and a drop in demand in the US market. So, at the start of the second half of the quarter, the lack of feedstock and the slower production rates temporarily raised product price quotations. However, the price trend once more leaned lower near the close of Q3. Additionally, the demand from the packaging and cosmetics industries was low throughout the period. In the USA, the Styrene Copolymer price was assessed at around USD 1840/MT during September 2022.
Asia
Like the previous quarter, Styrene Co-polymer's pricing trend in Asia was unfavorable. As a result of manufacturing being reduced initially on government orders owing to summer heat waves and power disruptions, product prices declined substantially. Additionally, because of higher inventory levels, the costs of the SAN's primary raw materials, Styrene and Acrylic Acid, continued to be on the downside. However, the lackluster demand from downstream manufacturers, particularly producers, was the leading cause of the prices' sharp decline. Typhoon Hinnamor caused delays in deliveries and shipments at China's main cargo port. As a result, the product prices fell sharply and finally stabilized at USD 1514/MT in India.
Europe
Stable demand from the cosmetics and personal care industries contributed to the third quarter's pricing trend for Styrene Co-polymer in Europe. Pressure on European manufacturers came from the Russian exporters' limitation of input supplies, while local downstream producers decreased their operational rates in the face of growing inflation. The product offtakes remained low as a result. Additionally, upstream cost pressure was reduced due to the high inflation rate and the collapse of the feedstock Styrene during the middle of the third quarter due to lower product offtakes and higher domestic inventory levels. As per the data, Styrene Copolymer prices hovered around USD 2200/MT during the final week of September 2022.
For the Quarter Ending June 2022
North America
During the second quarter of 2022, the market sentiments of Styrene Copolymer observed a decline in the North American market on the back of retarding feedstock prices in the domestic market. Benzene and ethylene prices were observed on the lower edge in the regional market, which proportionally impacted the Styrene Copolymer prices. These variations in the feedstock prices influenced the production cost of Styrene Copolymer. Furthermore, the demand from the automotive sector remained gloomy as chip shortages occurred in the regional market. This decline in demand and surging fuel prices led to retardation in the regional market. Another facet governing the market sentiments of Styrene Copolymer is the availability of feedstock with downstream manufacturers to cater to the domestic demand.
Asia-Pacific
In the second quarter, the Asia-Pacific region observed a continuous decline in Styrene Copolymer prices. Crude oil prices in the international market played the key factors in any fluctuations in Styrene Copolymer prices as its downstream benzene prices also remained on the lower edge. Asian markets also witnessed a continuous decline in ethylene and natural gas prices. Countries such as China and Taiwan suffered from natural calamities, consequently halting the production rate of Styrene Copolymer. Variations in feedstock prices proportionally impacted the market dynamics of Styrene Copolymer in the regional market. Furthermore, weak demand from downstream sectors such as cosmetics and automobiles has led to lower operational rates and low production costs, significantly influencing regional market dynamics.
Europe
The prices of Styrene Copolymer also followed the downward trend in the European market despite the inflated commodity. Production activity in the European region remained slow throughout the quarter as the country faced a feedstock crisis. With the rise in crude oil and gasoline prices, the demand for automotive sectors remained quite proportionally, impacting the prices of Styrene Copolymer in the domestic market. As per the major manufacturers, end-users demand was low, which could be fulfilled with the available feedstock. Moreover, the inquiry about the product from end-use businesses was low, forcing the suppliers to decrease the market prices of Styrene Copolymer in the regional market.
