Styrene is a colorless liquid aromatic monomer with a sweetish smell. It plays an essential role in the production of rubber and plastic components. Although styrene is commonly manufactured from petroleum, it also occurs naturally in certain plants, for instance, vegetables, fruits and nuts.
Styrene finds application in the manufacture of diverse products including coatings, adhesives, packaging, paints and inks, floor wax, lubricants and many more.
In 2012, the annual global styrene capacity was estimated at over 32.7 million tonnes. Asia holds around half of the world styrene capacity.
Styrene capacity broken down by region, 2012
Styrolution, Total Petrochemicals, CNPC, Shell, LyondellBasell Chemical Co, Chemicals and Fibre Corp (FCFC), Formosa, Saudi Petrochemical Co (Sadaf) and Americas Styrenics are some of the leading companies active in the worldwide styrene market.
In 2012, the global styrene production recorded slight growth of nearly 175,000 tonnes and exceeded 26.4 million tonnes. Asia is an unrivalled styrene producer, accounting for approximately 50% of the world styrene output. It is followed by Europe and North America.
World styrene production by country, 2012
China, the USA and Japan are the top styrene manufacturing countries. In 2012, their combined share in the world styrene production amounted to more than 44% (over 11.7 million tonnes).
In 2012, the global styrene consumption recorded stable growth, driven by surging demand from the major styrene end-users such as polystyrene, SB latex, ABS/SAN resins industries. In the past several years, the highest growth in the demand for styrene has been registered in Asia.
In 2011, the world styrene foreign trade was worth more than 14.5 billion. Asia is the leading styrene exporter and importer, with styrene imports, though, prevailing over exports in the region.
The global styrene capacity utilization rates are poised to grow from approximately 85% in 2012 to over 90% by 2017. Styrene markets in Asia, Latin America and the Middle East are predicted to grow fastest. The global styrene production is forecast to go beyond 29.7 million tonnes by 2015.
More information on the styrene market can be found in the report Styrene: 2013 World Market Outlook and Forecast up to 2017.