Styrene Price in Mexico
- Mexico: 1169 USD/MT
In December 2023, the price of styrene in Mexico for the fourth quarter hit 1169 USD per metric ton. Despite the market price declining, the trend remained bullish due to high to moderate demand for styrene.
The latest report by IMARC Group, titled "Styrene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of Styrene Price Trend. This report delves into the price of Styrene globally, presenting a detailed analysis, along with informative Styrene price chart. Through comprehensive Styrene price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the Styrene demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
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 is primarily driven by its extensive applications across various industries including packaging, automotive, construction, and electronics. The rising demand for polystyrene, a key derivative of styrene, is a major factor propelling the market growth. Polystyrene is widely used in packaging materials due to its excellent insulating properties, lightweight nature, and cost-effectiveness. Additionally, styrene-based materials like acrylonitrile butadiene styrene (ABS) are integral in manufacturing automotive components due to their durability and impact resistance. Another significant driver is the construction industry, where styrene-based products, such as expanded polystyrene (EPS), are utilized for insulation and building applications. Moreover, the increasing focus on sustainability and recycling in the packaging industry is leading to innovations in styrene-based products, thereby enhancing their appeal. Technological advancements and the development of bio-based styrene are also anticipated to create new opportunities in the market.
Styrene Market Analysis
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. During the Q4 of 2023, the North American styrene market observed stability with moderate levels of supply and demand. Several factors influenced the market, including limited market off-take and reduced international demand. In Mexico, the styrene market remained bullish, indicating a high to moderate demand for styrene. In the Asia-Pacific (APAC) region during Q4 of 2023, the styrene market experienced a declining trend throughout the quarter due to several factors. An oversupply of products, weak demand, and limited market uptake led to falling styrene prices. Japan saw the most significant price change due to high supply and weak demand.
In Q4 of 2023, the styrene market in Europe faced a decline in prices due to several factors. There was a surplus of product supplies, weak demand, and declining regional uptake, particularly in the Netherlands, leading to a decrease in styrene prices. Additionally, the depreciation of feedstock prices for benzene and ethylene, along with reduced crude oil prices, contributed to lower production costs, further pushing down the price trend. Besides this, in the MEA region, there was an overall increase in styrene prices during Q4 of 2023. Various challenges impacted pricing dynamics in the MEA styrene market. In Saudi Arabia, the market maintained stability with a moderate supply of the product. Furthermore, in Q4 of 2023, the South American styrene market exhibited a declining trend, characterized by subdued prices and waning consumer interest in further investment in the product. The Brazilian styrene market also faced a downtrend, influenced by sluggish market fundamentals, balanced supply, and demand dynamics, and lackluster performance from downstream derivative enterprises.
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
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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