Polystyrene (GPPS) Price Trend and Forecast
Get the latest insights on price movement and trend analysis of General Purpose Polystyrene (GPPS) in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Polystyrene (GPPS) Price Trend for the Second Half of 2024
Asia
Polystyrene (GPPS) prices in Asia gradually declined throughout the second half of 2024. China, a major market player, experienced moderate price fluctuations with a downward trend during this period. Although the supply of styrene monomer remained stable, demand was weaker than expected, preventing any significant upward movement in prices. Some logistical challenges persisted, particularly during the monsoon season.
Polystyrene (GPPS) Price Chart
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However, in the third quarter of 2024, polystyrene prices moved within a narrow range. In the fourth quarter of 2024, the upstream styrene market gradually declined due to falling crude oil prices. The polystyrene price curve followed the same trajectory, exhibiting a slight downward trend as the quarter progressed. However, market sentiment remained subdued, and no significant recovery was observed across the region.
Europe
Europe experienced a steady decline in demand for polystyrene during the second half of 2024. In Q3, an oversupply of the commodity, combined with reduced demand from key sectors such as automotive and construction, led to a gradual decrease in prices. High inventory levels and weak consumer sentiment made it challenging for producers to maintain profitability.
In Q4, demand did not recover, and prices continued on a downward trajectory. Additionally, the European polystyrene market faced further challenges due to competitive imports. While some stabilization was observed towards the end of the year, seasonal demand upticks did little to ease market pressure and had minimal impact on the polystyrene price trend.
North America
During the second half of 2024, the North American polystyrene market experienced significant price fluctuations. Slow demand from the packaging and construction industries, coupled with an oversupplied market, led to a steady decline in prices. Additionally, traders remained cautious in their purchasing behavior, anticipating further price drops.
Seasonal demand contributed to price stabilization, and some temporary upticks were observed due to pre-festive stocking. Support came from stable upstream costs and steady procurement activity from key sectors such as consumer goods and packaging, although occasional adjustments resulted from logistical disruptions. By the end of the year, the market appeared more stable, with fewer sharp fluctuations.
Analyst Insight
According to Procurement Resource, the polystyrene (GPPS) market is expected to show slight improvements due to lower inventories at the start of the new year.
Polystyrene (GPPS) Price Trend for the First Half of 2024
Product | Category | Region | Price | Time Period |
Polystyrene (GPPS) | Packaging | USA | 1,586 USD/MT | January'24 |
Polystyrene (GPPS) | Packaging | USA | 1,653 USD/MT | June’24 |
Polystyrene (GPPS) | Packaging | Europe | 1620 USD/MT | January’24 |
Polystyrene (GPPS) | Packaging | Europe | 1777 USD/MT | June’24 |
Stay updated with the latest General Purpose Polystyrene (GPPS) prices, historical data, and tailored regional analysis
Asia
In the Chinese region, the Polystyrene (GPPS) price trend remained relatively stable at the beginning of the year. Prices were kept in check by both supply and demand from the packaging and electronics industries. However, as the year progressed, the Polystyrene (GPPS) price curve experienced a significant increase driven by increases in feedstock prices and supply chain disruptions.
Increased freight costs and shipping disruptions at the Red Sea pushed up the Polystyrene (GPPS) prices, creating pressure on the market. As the supply chains adapted, Polystyrene (GPPS) prices stabilized, and the market started to settle by the end of the second quarter. The market was somewhat in equilibrium as the price volatility slowed and displayed rangebound movements towards the end of the said period.
Europe
In the European markets, the price trajectory of Polystyrene (GPPS) was similar to the Asian region. The prices were about 1620 USD/MT in January’24 and around 1777 USD/MT in June’24. Higher production costs and logistical challenges caused prices to increase rapidly in the said period. Increased freight costs and delayed shipments disrupted the supply chains of the major chemicals in the region.
Although supply chains experienced some adjustments, prices stabilized towards the end of the second quarter. However, Polystyrene (GPPS) prices were still higher when compared to the initial months of the year. Overall, the Polystyrene (GPPS) price curve showed notable fluctuations in the second half of the year due to ongoing logistical challenges and limited raw material availability.
North America
In North America, GPPS prices experienced a steady rise in the first few months due to strong demand from the downstream consumer goods and packaging industries, which saw increased activity following the New Year holidays. Similar to other regions, as the year progressed, Polystyrene (GPPS) prices were influenced by rising feedstock costs and logistical challenges driven by higher freight rates. Prices continued to climb due to escalating raw material expenses and ongoing supply chain disruptions. However, towards the end of the period, some stabilization was observed in the Polystyrene (GPPS) price trend. Prices stood at approximately 1,586 USD/MT in January 2024 and rose to around 1,653 USD/MT by June 2024.
Analyst Insight
According to Procurement Resource, the polystyrene (GPPS) price curve is anticipated to show upticks in the upcoming months, influenced by the rising demand from the downstream sector.
Polystyrene (GPPS) Price Trend for the the Second Half of 2023
Asia
The General Purpose Polystyrene (GPPS) prices started slowly in the Asian markets at the beginning of the third quarter as the suppliers were still dealing with the available stocks in inventories. However, soon, the prices started picking up following the surge in demand after mid-Q3.
The price graph started inclining as more and more orders came in. However, as the fourth quarter began, the situation started reversing again, and the price graph started flattening during this time. The international trade dynamics were disturbed because of the Houthi attacks in the Red Sea. This massively affected the international orders for General Purpose Polystyrene (GPPS) and made the price trend struggle as the year-end approached. Overall, a largely lukewarm performance was witnessed in H2’23.
Europe
The European General Purpose Polystyrene (GPPS) industry performed well for the majority of the discussed period. As the supply and demand outlooks maintained a healthy balance, consistent growth was observed in the market.
It was only around the latter half of the fourth quarter that the price trend started going down slightly because of demand depreciation, but overall, market sentiments were largely positive. The half-yearly appreciation in the average monthly prices around the discussed span was approximately 10% as the prices went from about 1602 USD/MT in July’23 to around 1763 USD/MT in December of 2023.
North America
The American General Purpose Polystyrene (GPPS) industry was more influenced by the Asian market as the price trend here was observed to be struggling throughout the said period. The monthly average prices went from around 2182 USD/MT in July to about 1653 USD/MT in December ‘23. Overall, muted market sentiments were witnessed.
Analyst Insight
According to Procurement Resource, the General Purpose Polystyrene (GPPS) price trends are expected to continue fluctuating in the coming months. The trade outlook will be more tilted towards the demand dynamics.
Polystyrene (GPPS) Price Trend for the First Half of 2023
Asia
The first quarter of 2023 saw a gradual decline in the price trend of polystyrene (GPPS), as the major cause of this fall was the consistent ups and downs in the crude oil sector. The supply of products was further hampered by the delays due to labor strikes. Another cause of worry for the manufacturers was the low demand from the downstream industries.
These problems were further amplified in the second quarter as the packaging and derivatives industries were hit by a low volume of sales. In the latter half of the second quarter, the level of inventories at the domestic ports inclined, causing the traders to lower their bids and thus leading to the notable decline in the price trend of polystyrene (GPPS).
Europe
High fluctuation in crude oil prices affected the domestic demand for polystyrene (GPPS), and with seasonal fluctuations in the region, the price trend of polystyrene (GPPS) declined in the first quarter of 2023. Along with the weak demand dynamics of the region, the polystyrene (GPPS) market, the second quarter also witnessed feeble trading sentiments as the oversupply at ports and sluggish consumption rates had a negative impact on the prices. In addition to this, the feedstock prices and high economic uncertainties caused the price trend of polystyrene (GPPS) to move southwards.
North America
In North America, the crude oil market led to a rise in the cost of production that widened the supply-demand gap in the region. The procurement rates improved slightly in the middle of the second quarter with the help of improvement in the consumption rates, but soon, the debt crisis swallowed the growth potential of the economy, and with struggling feedstock costs, the price trend of polystyrene (GPPS) declined gradually.
Analyst Insight
According to Procurement Resource, the price trend of Polystyrene (GPPS) is expected to fall in the upcoming months as the demand from the end-user industries does not seem to support the growth of polystyrene (GPPS) market.
Procurement Resource provides latest prices of Polystyrene (GPPS). Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
General Purpose Polystyrene (GPPS) is a transparent thermoplastic polymer made from styrene monomers. It is known for its glass-like clarity, rigidity, and electrical insulating properties. GPPS is widely used in various applications, including packaging materials, disposable foodservice products, medical devices, electronic components, stationery, toys, and more. Its versatility, ease of molding, and affordability make it a popular choice in industries requiring transparent or rigid materials.
Report Features | Details |
Product Name | Polystyrene (GPPS) |
Chemical formula | (C8H8)n |
Industrial Uses | Packaging, Food services, Stationary, Automotive, Custom Packaging, Electronics, Medical devices |
CAS Number | 9003-53-6 |
HS Code | 39031990 |
Supplier Database | SABIC, Total, LG Chem, BASF SE, INEOS Styrolution Group GmbH |
Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, 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 Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
Currency | US$ (Data can also be provided in local currency) |
Supplier Database Availability | Yes |
Customization Scope | The report can be customized as per the requirements of the customer |
Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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