CATEGORY

Polystyrene

Polystyrene is synthetic aromatic polymer made from styrene monomer. The polymer has three grade namely HIPS (High impact polystyrene), GPPS (General purpose polystyrene) and EPS (expandable polystyrene) which has uses across downstream industries like Packaging, Construction, Manufacturing of Electric and Electronic Appliances .

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Category Alerts


CATEGORY ALERTS

Asian styrene facilities will realize considerable capacity expansions in 2023 and 2024

January 09, 2023
alert level: Low
CATEGORY ALERTS

EPS capacity expansion at Sunpor to be completed in H2 2022

July 19, 2022
alert level: Medium
CATEGORY ALERTS

Asian styrene facilities will realize considerable capacity expansions in 2023 and 2024

January 09, 2023
alert level: Low

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Polystyrene Market Monitoring Dashboard


Price Trend
1755.00
Mar-2023
USD/MT
History Forecast
Supply Demand

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Polystyrene Industry Benchmarks


Savings Achieved

(in %)

The average annual savings achieved in Polystyrene category is 6.50%

Payment Terms

(in days)

The industry average payment terms in Polystyrene category for the current quarter is 70.4 days

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Category Strategy and Flexibility

Engagement Model

Supply Assurance

Sourcing Process

Supplier Type

Pricing Model

Contract Length

SLAs/KPIs

Lead Time

Supplier Diversity

Targeted Savings

Risk Mitigation

Financial Risk

Sanctions

AMEs

Geopolitical Risk

Cost Optimization

Price per Unit Competitiveness

Specification Leanness

Minimum Order Quality

Payment Terms

Inventory Control

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    Polystyrene Suppliers


    6,254
    Total Suppliers
    142
    Diverse Suppliers
    67
    Normalized Supplier Rating
    Polystyrene Supplier

    Find the right-fit polystyrene supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.

    Sample Supplier
    Company
    BASF SE
    Location
    Jackson, Mississipi
    Duns number
    3862211

    D&B SER Rating

    dnb logo

    Up to 3 months

    1 9
    1
    Low Risk High Risk

    The Supplier Evaluation Risk (SER) Rating is Dun & Bradstreet’s proprietary scoring system used to assess the probability that a business will seek relief from creditors or cease operations within the next 12 months. SER ratings range from 1 to 9, with 9 indicating the highest risk of failure. We’ve prepared an infographic to help business owners better understand what influences their SER Rating.


    Creditsafe Rating


    D/2

    The Supplier Evaluation Risk (SER) Rating is Dun & Bradstreet’s proprietary scoring system used to assess the probability that a business will seek relief from creditors or cease operations within the next 12 months. SER ratings range from 1 to 9, with 9 indicating the highest risk of failure. We’ve prepared an infographic to help business owners better understand what influences their SER Rating.

    A 71 - 100

    Very Low Risk

    B 51 - 70

    Low Risk

    C 30 - 50

    Moderate Risk

    D 21 - 29

    High Risk

    E 0 - 20

    Not Rated


    Moody`s ESG Solution
    ESG Profile

    Company and Sector Performance
    59

    100
    Robust (1)
    ESG Perfomance (/100)
    Environment
    60
    Social
    59
    Governance
    57
    6 Domains Performance (/100)
    Business behaviour
    62
    Human rights
    68
    Community Environment
    42
    Corporate governance
    60
    Human resources
    61
    Security Scorecard
    82

    Threat indicators
    B
    83
    Network Security
    Detecting insecure network settings
    A
    100
    Hacker Chatter
    Monitoring hacker sites for chatter about your company
    D
    62
    DNS Health
    Detecting DNS insecure configuration and vulnerabilities
    B
    80
    Application Security
    Detecting common website application vulnerbilities
    B
    81
    Endpoint Security
    Detecting unprotected enpoints or entry points of user tools, such as desktops, laptops mobile devices, and virtual desktops
    A
    100
    Cubic Score
    Proprietary algorithms checking for implementation of common security best practices
    B
    85
    Patching Cadence
    Out of date company assets which may contain vulnerabilities of risk
    A
    100
    Social Engineering
    Measuring company awareness to a social engineering or phising attack
    A
    94
    IP Reputation
    Detecting suspecious activity, such as malware or spam, within your company network
    A
    100
    Information Leak
    Potentially confidential company information which may have been inadvertently leaked

    Industry Comparison
    basf.com
    Industry average
    Adverse Media Appearances
    Environmental Issues
    17
    Workforce Health Safety Issues
    0
    Product Service Issues
    22
    Human Rights Issues
    3
    Production Supply Chain Issues
    35
    Environmental Non Compliance Flags
    74
    Corruption Issues
    0
    Regulatory Non Compliance Flags
    21
    Fraud Issues
    8
    Labor Health Safety Flags
    12
    Regulatory Issues
    13
    Workforce Disputes
    6
    Sanctions
    0
    esg energy transition
    49
    Discrimination Workforce Rights Issues
    3
    esg controversies critical severity
    Yes

    Polystyrene market report transcript


    Global Market Outlook on Polystyrene

    • The global market is estimated to grow by 1.9 percent during 2019–2024. The lower growth rate can be attributed to the sluggish downstream demand especially from the packaging segment.
    • The packaging segment has reduced the usage due to its issues with sustainability. Multiple states in the US and Europe have banned its usage reducing its competiveness with other resins.

    Industry Best Practices

    Volume/ Minimum Order Quantity

    • Direct buying is preferred for minimum order quantity of one or above truck load /rail load
    • Low volumes may limit the benefits of direct buying for a CPG company
    • One truck load Volume: 25 MT
    • One Rail load Volume: 90-110 MT

    Logistics

    • Logistics management is one of the major cost component in the direct buying process
    • Fuel cost, which is a major spend in transportation, is expected to be three times lower for rail cars over truck load

    Process Complexity

    • Producers may give preference to large convertors and distributors over CPG buyers
    • However, CPG buyers can enter into long term contracts with producers with a minimum guarantee so that a steady business relationship is maintained over time


    Global Market Size-Polystyrene

    • The global polystyrene market is expected to grow at 1.9 percent during 2019–2024, driven majorly by downstream users, like construction and electronics. The global PS market is expected to reach $28.8 billion by 2024.
    • The HIPS/GPPS market is driven majorly by the Asian market, which is expected to grow by 2-3% CAGR during 2019–2024
    • The EPS market is driven by firm demand from the Asian market, which is expected to grow by 2-3% CAGR during 2019–2024, while mature markets, like Europe and North America, are expected to grow by 0-1% CAGR during 2019–2024.

    Global Capacity-Demand Analysis

    • Global production capacity for polystyrene* (HIPS and GPPS) is estimated to be around 14 million metric tons, with Asia accounting for about 54 percent of the total capacity
    • Global production capacity for polystyrene* (EPS) is estimated to be around 12 million metric tons, with Asia Pacific accounting for about 70 percent of the total capacity
    • The global PS market is expected to grow by 3– 4 percent during 2017–2022, driven majorly from downstream users, like construction and electronic
    • The traditional market applications are rigid plastic packaging raw materials, food packaging, optical disk storage, disposable cutlery, foams, styrofoam, packaging, construction. It is also used in industries related to polymers, plastics, resins and thermoplastics.
    • The demand is also driven by industries that use general purpose polystyrene, high impact polystyrene, styrofoam, expanded polystyrene and extruded polystyrene (XPS).

    Market Outlook

    Capacity Dynamics 

    • Mature markets, like Europe, North America, and Japan, have witnessed capacity rationalisation, resulting in a total of 4–6 suppliers/region, while developing nations, like Middle East, China, and Taiwan have witnessed capacity additions. There are no major capacity reductions announced during 2019–2024

    Demand Dynamics 

    • The HIPS/GPPS market is driven majorly by the Asian market, which is expected to grow by 2-3% CAGR during 2019–2024

    • The EPS market is driven by firm demand from the Asian market, which is expected to grow by 2-3% CAGR during 2019–2024, while mature markets, like Europe and North America, are expected to grow by 0-1% CAGR during 2019–2024

    Engagement Outlook

    • For CPG buyers with volume of 5,000–10,000 MT, one can look at direct buying from producers as a viable option
    • Direct buying can reduce the overall sourcing spend of PS by 5–8 percent, as the margins between intermediaries, like distributors and convertors, get eliminated

    Global Trade Dynamics

    • North America: The region is a net importer of EPS and HIPS/GPPS resin. The imports of HIPS/GPPS witnessed a decline of 10 percent Y-o-Y during FY 2019 which can be attributed to the sluggish demand owing to the multiple state bans. Additionally, EPS imports also witnessed a decrease of 5 percent Y-o-Y during FY 2019, which can be attributed to the slowdown in demand from the overall decline in the economy.
    • Europe: Europe is a net importer of PS. The trade deficit has reached at 0.7 Million MT in 2019 (up by 10 percent Y-o-Y).
    • Asia: The region has a balanced trade flow for HIPS/GPPS resin while they are a net exporter of EPS resin. The trade surplus of EPS witnessed a decrease of 4 percent Y-o-Y during FY 2019.

    Industry Drivers and Constraints

    Drivers

    • Food packaging demand in Asia: Food packaging accounts for 25–35% of the total demand. Increase in packaged food demand, rising demand for food containers, and disposable cutlery in Asia are expected to be the key drivers in the coming years.
    • Appliances demand in Asia: Increase in disposable income is likely to drive the home appliances demand from the Asian markets. The consumer electronics is a major driving segment, which is expected to grow by 6-8% CAGR by 2024.
    • Construction demand Increase in global temperature may also push the demand for heat insulation materials like polystyrene in the coming years. This segment is likely to witness a steady growth rate of 2–3% from 2019 to 2024.

    Constraints

    • Capacity reductions: Total Petrochemicals plans to shut their 110,000 MT/YR by the end of FY 2019. The plant is located in Spain while INEOS Styrolution plans to reduce ~ 50,000 MT/YR of its capacity by replacing it with ABS. This is expected to be operational by FY 2020.
    • Delay in feedstock styrene capacity additions: In the past years, styrene monomer prices have been driven mainly by supply-demand dynamics, which in turn prompted the PS prices. Sinopec-SK (Wuhan) Petrochemical Company is planning to start its 27,000 MT/YR styrene monomer (SM) plant in FY2019. Capacity additions of ~5 MMT/YR were expected to come online by H2 2018 To H1 2019 however the delay in construction means these plants would be operational only by FY 2020. Styrene has a very high correlation of 0.83 with HIPS and GPPS. Thus any major change in the feedstock price can be expected to be reflected in polystyrene market price.

    Innovations

    With stricter regulations in place, the emphasis on a lot of packaging companies has been to recycle and create more biodegradable products that would not harm the environment. Recyclable Polystyrene One of the packaging vendor named Cascades have created a polystyrene foam tray that contains 25 percent recyclable material The packaging named EVOK would be first to be manufactured in the US following its introduction in Canada

    The usage of such products would help reducing greenhouse emissions by 15 percent and it will also reduce the amount of waste sent to landfills As a result, this packaging requires 6 percent less usage of material along with an annual decrease of 120,000 pounds of waste per year

     

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