India - Styrene - Market Analysis, Forecast, Size, Trends And Insights
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View PricingStyrene Price in India - 2023
Contents:
- Styrene Price in India (CIF) - 2023
- Styrene Price in India (FOB) - 2023
- Styrene Imports in India
- Styrene Exports in India
Styrene Price in India (CIF) - 2023
The average styrene import price stood at $752 per ton in September 2023, approximately equating the previous month. Overall, the import price showed a perceptible reduction. The most prominent rate of growth was recorded in December 2022 an increase of 11% month-to-month. The import price peaked at $1,172 per ton in March 2023; however, from April 2023 to September 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was South Korea ($1,116 per ton), while the price for Singapore ($503 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+0.1%), while the prices for the other major suppliers experienced a decline.
Styrene Price in India (FOB) - 2023
In September 2023, the average styrene export price amounted to $1,236 per ton, approximately mirroring the previous month. Overall, the export price recorded a mild contraction. The pace of growth was the most pronounced in February 2023 an increase of 19% against the previous month. Over the period under review, the average export prices reached the peak figure at $1,461 per ton in September 2022; however, from October 2022 to September 2023, the export prices failed to regain momentum.
Average prices varied noticeably for the major export markets. In September 2023, the countries with the highest prices were Kenya ($1,383 per ton) and Nigeria ($1,323 per ton), while the average price for exports to the United Arab Emirates ($1,138 per ton) and Sri Lanka ($1,279 per ton) were amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kenya (-0.4%), while the prices for the other major destinations experienced a decline.
Styrene Imports in India
In 2022, styrene imports into India rose significantly to 1M tons, with an increase of 14% on the previous year's figure. The total import volume increased at an average annual rate of +6.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 28%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.
In value terms, styrene imports totaled $1.2B in 2022. In general, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 91% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.
| Import of Styrene in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 143 | 108 | 340 | 380 | 38.5% |
| Kuwait | 89.6 | 94.1 | 214 | 239 | 38.7% |
| United States | 246 | 139 | 111 | 181 | -9.7% |
| South Korea | 171 | 72.0 | 154 | 172 | 0.2% |
| Saudi Arabia | 91.8 | 84.8 | 104 | 116 | 8.1% |
| Malaysia | 7.9 | 13.1 | 34.5 | 38.5 | 69.5% |
| Netherlands | 58.1 | 28.8 | 2.6 | 32.8 | -17.4% |
| Indonesia | 33.5 | 5.5 | 18.5 | 21.0 | -14.4% |
| Others | 39.9 | 13.3 | 86.7 | 27.4 | -11.8% |
| Total | 881 | 559 | 1,066 | 1,208 | 11.1% |
Top Suppliers of Styrene to India in 2022:
- Singapore (306.9K tons)
- Kuwait (199.5K tons)
- United States (181.5K tons)
- South Korea (136.8K tons)
- Saudi Arabia (107.4K tons)
- Netherlands (33.8K tons)
- Malaysia (27.9K tons)
- Indonesia (19.7K tons)
Styrene Exports in India
For the fourth year in a row, India recorded growth in overseas shipments of styrene, which increased by 133% to 49K tons in 2022. Overall, exports showed a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 407% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.
In value terms, styrene exports skyrocketed to $69M in 2022. Over the period under review, exports showed a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 249% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.
| Export of Styrene in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sri Lanka | 1.9 | 1.1 | 7.2 | 24.4 | 134.2% |
| South Korea | N/A | 7.0 | N/A | 19.2 | 65.6% |
| Nigeria | 1.1 | 0.3 | 2.6 | 8.6 | 98.5% |
| United Arab Emirates | N/A | N/A | 2.3 | 7.7 | 234.8% |
| Kenya | 0.1 | 0.1 | 1.4 | 4.8 | 263.4% |
| Nepal | 0.3 | 0.2 | 0.5 | 1.7 | 78.3% |
| Iran | N/A | N/A | 4.2 | N/A | 0% |
| Turkey | N/A | N/A | 10.3 | N/A | 0% |
| Others | 0.4 | 0.1 | 2.4 | 2.9 | 93.5% |
| Total | 3.8 | 8.9 | 30.9 | 69.5 | 163.5% |
Top Export Markets for Styrene from India in 2022:
- South Korea (28.0K tons)
- Sri Lanka (10.5K tons)
- United Arab Emirates (3.5K tons)
- Nigeria (3.4K tons)
- Kenya (1.9K tons)
- Nepal (0.7K tons)
This report provides an in-depth analysis of the styrene market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20141250 - Styrene
Country coverage:
- India
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in India
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
539
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