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Facing Substitution Threats and Recycling Opportunities
Facing Substitution Threats and Recycling OpportunitiesDue to substitution from other resins such as polypropylene (PP) and polyethylene terephthalate (PET), sustainability initiatives and related legislation, negative perceptions from consumers, and limited new markets and applications Market demand for styrene (PS) resins is shrinking significant.
PS demand is shrinking
PS demand is shrinkingIn the more mature European and American markets, the demand for PS shows a gradual downward tre.
According to IHS Markit data, in the past 20 years, the demand for PS in the Western European market has shrunk by 45%, that is, from about 3 million tons/year in 2000 to the current 6 million tons/ye.
The successful integration of the PS industry
The successful integration of the PS industryIn this market context, since 2010, the PS industry in Western Europe and North America has begun to integrate and rationalize production capaci.
The European PS industry consolidation is mainly achieved by converting PS production capacity to other styrene downstream produc.
Through consolidation, the PS industry has successfully achieved its main goal of remaining profitab.
Recycling PS brings new opportunities
Recycling PS brings new opportunitiesIn addition to the consolidation of the PS industry, due to recent fluctuations in raw material prices and changes in the international market, although market volatility has been caused, it has also brought certain benefits to the cash profit margin of the PS indust.
As PS production capacity continues to shrink, PS producers are gradually shifting their pricing to styrene monom.
Due to the good market performance, the PS industry has also invested more energy in recycling PS, trying to bring new development space for the PS indust.