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 Prices. This report delves into globally, presenting a detailed analysis, along with informative price chart. Through comprehensive 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 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.

Request For a Sample Copy of the Report:  https://www.imarcgroup.com/styrene-pricing-report/requestsample

Styrene Price Trend- Q4 2023

The styrene market is driven by several key factors, including the growing demand for polystyrene and expanded polystyrene (EPS) across various industries, such as packaging, construction, and automotive. The rise in urbanization and infrastructure development, particularly in emerging economies, is creating the need for styrene-based products in insulation and building materials. Additionally, the increasing use of styrene in the production of synthetic rubber, which is essential for tire manufacturing, is propelling the market growth. Technological advancements in production processes and the development of bio-based styrene are also contributing to the market's expansion.

Styrene Industry Analysis

The styrene market is driven by several key factors, including the growing demand for polystyrene and expanded polystyrene (EPS) across various industries, such as packaging, construction, and automotive. The rise in urbanization and infrastructure development, particularly in emerging economies, is creating the need for styrene-based products in insulation and building materials. Additionally, the increasing use of styrene in the production of synthetic rubber, which is essential for tire manufacturing, is propelling the market growth. Technological advancements in production processes and the development of bio-based styrene are also contributing to the market's expansion.

In the second quarter of 2024, the styrene market experienced varying price trends across different regions due to a complex interplay of supply, demand, and cost factors. In North America, styrene prices saw a notable decline, driven by persistent supply surpluses and reduced raw material costs. The region, particularly the United States, faced a bearish market environment, with prices dropping as compared to the previous quarter. This decline was further exacerbated by high inventory levels and subdued demand from key downstream industries like automotive and packaging. The oversupply situation, coupled with cautious procurement behaviors, led to significant downward pressure on prices.

In contrast, the Asia-Pacific (APAC) region experienced a sharp increase in styrene prices during the same period, driven by rising production costs and strong demand from industries such as automotive, construction, and packaging. The price surge was particularly pronounced in Japan, where seasonal demand peaks and elevated feedstock costs led to a an increase from the previous quarter. Supply chain disruptions, constrained transportation logistics, and occasional plant shutdowns further tightened supply, contributing to the upward price pressure.

Meanwhile, Europe faced a bearish trend with styrene prices declining due to overcapacity, increased inventories, and falling raw material costs. Germany, in particular, saw a significant price drop during this quarter.

The Middle East and Africa (MEA) region, on the other hand, experienced rising styrene prices, driven by strong demand and higher production costs, especially in Saudi Arabia, where prices increased from the previous quarter.

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

Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

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