Puerto Rico: Market for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) 2024

Market Size for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) in Puerto Rico

In 2021, after two years of decline, there was significant growth in the Puerto Rican polystyrene in primary forms market, when its value increased by 20% to $X. Overall, the total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -35.4% against 2018 indices. Puerto Rico consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Polystyrene In Primary Forms (Excluding Expansible Polystyrene) in Puerto Rico

In value terms, polystyrene in primary forms production skyrocketed to $X in 2021 estimated in export price. Over the period under review, the total production indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -37.6% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 25% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Exports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Exports from Puerto Rico

In 2021, the amount of polystyrene in primary forms (excluding expansible polystyrene) exported from Puerto Rico totaled less than X kg, approximately mirroring 2020 figures. In general, exports showed a relatively flat trend pattern.

In value terms, polystyrene in primary forms exports amounted to less than $X in 2021. Over the period under review, exports showed a relatively flat trend pattern.

Exports by Country

The biggest shipments were from Taiwan (Chinese) (X tons), Belgium (X tons), France (X tons), Hong Kong SAR (X tons), Malaysia (X tons), the United States (X tons), South Korea (X tons), Japan (X tons), Italy (X tons), Germany (X tons), Thailand (X tons) and Saudi Arabia (X tons), together recording 71% of total export. Iran (X tons) took a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Iran (with a CAGR of +57.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest polystyrene in primary forms supplying countries from Puerto Rico were Belgium ($X), Taiwan (Chinese) ($X) and France ($X), together accounting for 33% of total exports. These countries were followed by Hong Kong SAR, the United States, Malaysia, Italy, South Korea, Germany, Japan, Saudi Arabia, Iran and Thailand, which together accounted for a further 40%.

In terms of the main exporting countries, Iran, with a CAGR of +59.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, remaining relatively unchanged against the previous year. In general, the export price continues to indicate a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+1.0%), while the other leaders experienced more modest paces of growth.

Imports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Imports into Puerto Rico

In 2021, imports of polystyrene in primary forms (excluding expansible polystyrene) into Puerto Rico was estimated at less than X kg, leveling off at the previous year. Over the period under review, imports showed a relatively flat trend pattern.

In value terms, polystyrene in primary forms imports totaled less than $X in 2021. Overall, imports saw a relatively flat trend pattern.

Imports by Country

China represented the largest importing country with an import of about X tons, which accounted for 30% of total imports. Malaysia (X tons) held the second position in the ranking, followed by Germany (X tons). All these countries together held approx. 10% share of total imports. Italy (X tons), Vietnam (X tons), Turkey (X tons), Mexico (X tons), Spain (X tons), the United States (X tons), Canada (X tons), the UK (X tons), Poland (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to polystyrene in primary forms imports into China stood at +3.0%. At the same time, Malaysia (+13.2%), Spain (+8.0%), Vietnam (+5.4%), the UK (+4.2%), the United States (+3.4%), Mexico (+2.4%) and Poland (+1.3%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in the world, with a CAGR of +13.2% from 2012-2021. Germany and Canada experienced a relatively flat trend pattern. By contrast, Italy (-2.6%), Turkey (-8.7%) and Hong Kong SAR (-11.9%) illustrated a downward trend over the same period. While the share of China (+5.4 p.p.) and Malaysia (+3.5 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Hong Kong SAR (-4 p.p.) and Turkey (-4.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported polystyrene in primary forms (excluding expansible polystyrene) into Puerto Rico, comprising 25% of global imports. The second position in the ranking was taken by Germany ($X), with a 5.7% share of global imports. It was followed by Italy, with a 4.3% share.

From 2012 to 2021, the average annual growth rate of value in China was relatively modest. In the other countries, the average annual rates were as follows: Germany (-0.0% per year) and Italy (-2.6% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, remaining constant against the previous year. In general, the import price continues to indicate a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the UK ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+1.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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