Styrene Copolymer prices rolled over in the Asian market
- 01-Apr-2022 4:26 PM
- Journalist: Xiang Hong
The prices of Styrene Copolymer in the Asian market remained stagnant as the producers are embedded between less demand from the end-users and high crude oil prices. Hiked prices of crude oil have directly affected the Styrene Copolymer's upstream products prices, which are benzene and ethylene.
Styrene Copolymer is a water-resistant emulsion having good adhesive properties. Styrene and Acrylic acid are the feeds required to produce Styrene Copolymer. Although the prices of feed, acrylic acid, and benzene are escalating with crude oil prices, sluggish demand from the downstream sectors such as packaging, construction, and others have forced the manufacturers to halt the production of Styrene Copolymer. Moreover, with the outburst of the omicron virus in China, Styrene (feed) manufacturers have terminated the production and operation of Styrene temporarily. Therefore, the prices of Styrene Copolymer remained stagnant in the Asia Pacific region.
On the other hand, Styrene Copolymer prices in Europe and USA have observed a hike. The driving force is the soaring feed prices (styrene and acrylic acid) and bullish demand from end-users such as paint, cosmetics, and personal care. As the offtakes are high, the manufacturers have increased their production costs, because of which, the prices of Styrene Copolymer climbed up. The ongoing conflict between Russia and Ukraine arose the supply disruption issue faced by the major manufacturers globally as the vital trade routes are substituted. Countries like China and the USA have concerns like port congestion and labor shortage, which have indirectly propelled the prices of Styrene Copolymer.
As per ChemAnalyst, “ the prices of Styrene Copolymer may show a slight positive inclination in the coming weeks owing to the rising prices of crude oil and acrylic acid. The downstream sectors such as cosmetics, healthcare, and others may show brisk demand, resulting in hiked prices of Styrene Copolymer. “