Highlights

China’s styrene capacity expansion process has slowed down in 2024. From January to August 2024, no newly added styrene capacity was put into operation, and the estimated new capacity in 2024 is around 450kt/a. Besides, PetroChina Jilin Petrochemical’s 140kt/a unit has been eliminated, so the Y-O-Y capacity growth rate in 2024 is projected to be 1.49%. China’s styrene supply officially has entered a surplus situation since 2023, with multiple units going into a state of long-term shutdown. The styrene industry’s operating rate has decreased as a result of losses in earnings from the upstream cracking industry to the styrene industry, so it is anticipated that the yearly supply growth rate will be constrained. On the other hand, styrene consumption overall has increased as the capacity of styrene downstream industries is still expanding. Overall, the styrene industry will maintain a tight balance in the supply and demand structure in 2024.

In 2024, styrene prices first posted persistent rises, then hovered at highs, and finally trended lower, with the price of benzene remaining the primary driver of these price swings. The benzene market saw a significant increment in demand following the extensive commissioning of the downstream capacity in H2, 2023, particularly in Q2 of 2024 when the benzene supply constraint was particularly noticeable. This has lent great cost support for the styrene market. However, the price difference between styrene and benzene shrank to negative values in June, with the minimum price difference at RMB -195/mt, creating a new history.

How will the profits of the benzene industry chain and the styrene industry chain be transmitted within the year? What are the development directions of the two industry chains in the future? What is the future development of the olefin and aromatic industries? Will it affect the development of the styrene supply? SCI uses data to inform you about market changes and trends and to offer you professional solutions, drawing on nearly 20 years of industry chain data and industry knowledge. SCI 2024 Styrene Market Annual Report can assist styrene producers in extending and optimizing the industrial chain through the supply and demand analysis of the entire industrial chain, help traders discover cross-product and cross-regional arbitrage opportunities through the analysis of price, supply and demand, and price difference, and help styrene terminal businesses optimize purchasing plans by combing regional supply and demand relation.

Report value

1. Gain a deeper grasp of styrene supply and demand fundamentals through regional supply and demand balance analysis on a worldwide basis. 

2. Delve into changes in the market’s supply and demand pattern based on five years’ worth of reliable supply data, and look for potential development tendencies.

3. Dig deeply into the changes in 2024, look forward to 2025 in detail, and identify future opportunities in the Chinese market.

4. Fully analyze the linkage and price difference changes of upstream and downstream products, and explore cost transmission and industry operation status.

5. Assistant in analyzing the supply and demand patterns of upstream and downstream industries through the comprehensive operating rate and gross profit of the six downstream industries of styrene.

Contents

Part 1 Styrene Market Overview

Part 2 2020-2024 China Styrene Supply-Demand Balance

2.1 2020-2024 Supply-Demand Balance Trend

2.2 2020-2024 Regional Supply-Demand Balance Trend

2.3 2024 Monthly Supply-Demand Balance Characteristics and Price Relation

Part 3 Part 3 Styrene Supply Pattern and Variation Trend

3.1 2024 Global Styrene Capacity

3.1.1 Global Styrene Capacity by Region

3.1.2 Global Styrene Trade Flow

3.2 2020-2024 China Styrene Capacity Variation

3.2.1 China Styrene Capacity Development

3.2.1.1 Styrene Capacity Development Trend

3.2.1.2 Styrene Capacity Concentration Ratio

3.2.1.3 Styrene Existing Capacity Process Structure Characteristics

3.2.1.4 2024 Existing Styrene Capacity Process

3.2.2 China Styrene Capacity Layout 

3.2.2.1 Styrene Capacity by Region

3.2.2.2 Styrene Capacity in Coastal Area

3.2.3 2024 China Styrene Market Trade Flow

3.2.3.1 China Styrene Major Production Area, Output and Outflow Direction of Goods

3.2.3.2 China Styrene Major Sales Area, Demand and Source of Goods

3.2.3.3 China Styrene Trade Flow Characteristics and Influence

3.2.4 2025-2029 China Styrene Newly Added Capacity

3.2.4.1 2025-2029 China Styrene Capacity Forecast

3.2.4.2 2025-2029 China Proposed New Styrene Capacity

3.3 2020-2024 China Styrene Output Variation

3.3.1 2020-2024 China Styrene Output

3.3.1.1 China Styrene Annual Output and Capacity Utilization Rate

3.3.1.2 China Styrene Annual Output Variation by Region

3.3.2 2024 China Styrene Production Characteristics and Reason

3.3.2.1 2024 China Styrene Monthly Output Variation Characteristics and Influence

3.3.2.2 2024 Styrene Production High-Frequency Data Characteristics

3.4 2020-2024 China Styrene Import Market Variation

3.4.1 2020-2024 China Styrene Import Data

3.4.1.1 China Styrene Import Volume Trend

3.4.1.2 China Styrene Import Pattern by Trade Partner

3.4.1.3 China Styrene Import Pattern by Receipt Place and Trade Mode

3.4.2 2024 China Styrene Import Volume Variation

3.4.2.1 Monthly Import Volume and Characteristics

3.4.2.2 2024 Import Influence on China’ Total Supply

3.5 2024 China Styrene Inventory Variation

3.5.1 Styrene Total Inventory Variation and Trend

3.5.1.1 Inventory at Major Ports

3.5.1.2 Finished Inventory at Producers

3.5.1.3 Downstream Enterprise Finished Inventory Index

3.5.2 Inventory Variation and Price Relation Characteristics

3.5.2.1 Inventory Variation and Supply-Demand Relation

3.5.2.2 Inventory Variation and Price Relation

3.6 Styrene Warehousing and Logistics Situation

3.6.1 Styrene Warehousing and Logistics Condition and Policy

3.6.2 Warehousing Cost and Logistics Cost

3.6.3 Warehousing and Logistics Variation Influence on Prices

3.7 2025-2029 China Styrene Supply Pattern Forecast

3.7.1 2025-2029 Styrene Total Supply Forecast

3.7.2 2025 Styrene Monthly Supply Forecast and Influence on Prices

Part 4 China Styrene Demand Pattern and Variation Trend

4.1 2020-2024 International Styrene Consumption Variation Trend

4.2 2020-2024 China Styrene Consumption Variation Trend

4.2.1 China Styrene Annual Consumption and Variation Trend

4.2.1.1 2020-2024 Styrene Annual Consumption and Variation Trend

4.2.1.2 2024 Styrene Monthly Consumption and Variation Trend

4.2.2 China Styrene Downstream Industry Consumption Variation and Characteristics

4.2.2.1 Styrene Downstream Industry Comprehensive Gross Profit and Operating Rate Variation

4.2.2.2 PS Industry Operation Analysis

4.2.2.3 ABS Industry Operation Analysis

4.2.2.4 EPS Industry Operation Analysis

4.2.2.5 UPR Industry Operation Analysis

4.2.2.6 SBS Industry Operation Analysis

4.2.2.7 SBL Industry Operation Analysis

4.2.2.8 SBR Industry Operation Analysis

4.2.3 China Styrene Downstream Industries Distribution and Regional Consumption Structure

4.2.4 China Styrene Downstream Industry Customer Size and Demand Variation

4.2.5 China Styrene Major Downstream Industry Customer Size in Major Regions

4.3 2020-2024 China Styrene Export Market

4.3.1 2020-2024 China Styrene Export Data

4.3.1.1 China Styrene Export Volume Trend

4.3.1.2 2024 China Styrene Export Pattern by Trade Partner

4.3.1.3 2024 China Styrene Export Pattern by Destination and Trade Mode

4.3.2 2024 China Styrene Export Volume Variation

4.3.2.1 Monthly Export Volume and Characteristics

4.3.2.2 2024 Export Influence on China’s Total Demand

4.4 2025-2029 Styrene Downstream Industry Demand Growth Forecast

4.4.1 PS Industry Market Size and Demand Forecast

4.4.2 ABS Industry Market Size and Demand Forecast

4.4.3 EPS Industry Market Size and Demand Forecast

4.5 2025-2029 China Styrene Consumption Volume Forecast

4.5.1 China Domestic Consumption Volume Variation Trend

4.5.2 Styrene Export Volume Variation Trend

4.6 Styrene Consumption Peak and Off Seasons

4.6.1 Styrene Consumption Peak and Off Seasons Characteristics

4.6.2 Correlation Between Styrene Consumption Peak and Off Seasons and Prices

Part 5 Styrene Price Trend

5.1 Global Styrene Market Price Trend

5.1.1 Styrene Price Trends and Characteristics in Major Regions

5.1.2 China and Overseas Price Spread Characteristics and Influence

5.2 China Styrene Market Price Trend 

5.2.1 Price Variation Characteristics

5.2.1.1 Overall Price Trend Characteristics

5.2.1.2 Price Characteristics and Arbitrage in Major Regions

5.2.2 2024 Seasonality Characteristics of Price

5.3 Futures Price Trend and Influence on Spot Market

5.4 Styrene and Related Product Price Co-Movement

5.4.1 Styrene and Major Feedstock Price Correlation

5.4.2 Styrene and Major Downstream Price Correlation

5.4.3 Styrene and Related Products Price Correlation

5.5 Styrene Production Cost and Profit

5.5.1 Styrene Cost Structure and Characteristics

5.5.1.1 Styrene Cost Structure and Variation

5.5.1.2 Styrene Cost by Different Production Processes

5.5.2 Styrene Profit Variation and Influence

5.5.2.1 Styrene Profit Trend and Characteristics

5.5.2.2 Profit Variation Influence on Styrene Production

Part 6 Industry Competition Pattern and Operator Behavior Variation

6.1 Styrene Industry Competition Pattern Variation and Trend

6.2 Value Chain Analysis and Forecast

6.3 SCI Monitoring Enterprise Operational Trend

6.4 Downstream Customer Key Purchasing Factors

6.5 Operation Risks and Barriers

Part 7 Styrene Industry Outlook

7.1 2025-2027 Styrene Price Trend Forecast

7.2 Styrene Market Drivers Development Forecast

7.2.1 Macro Environment

7.2.2 Industrial Policy

7.2.3 2025-2029 China Styrene Supply-Demand Balance Forecast

7.2.3.1 2025-2029 Styrene Supply-Demand Balance Trend and Characteristics Forecast

7.2.3.2 2025 Monthly Supply-Demand Balance Forecast

7.2.4 2025-2029 Global and China Styrene Trade Flow Forecast

7.2.4.1 2025-2029 Global Styrene Trade Flow Forecast

7.2.4.2 2025-2029 China Styrene Trade Flow Forecast

7.2.5 Styrene and Related Product Price Co-Movement Forecast

7.3 2025 Major Styrene Price Drivers Influence Extent

Appendix 1 Styrene Industry Highlights

Appendix 2 Styrene Market Annual Events

Appendix 3 Macro and Industry Policies (2024)

Appendix 4 Methodology and Related Definition

Appendix 5 Tables and Charts

Appendix 6 Related Product Annual Reports

2024-2025 China Benzene Market Annual Report

2024-2025 China PS Market Annual Report

2024-2025 China ABS Market Annual Report

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