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The growth in demand for styrene in North America is based on two factors. First, the supply of raw benzene is plentiful and the price has been declining. New capacity has been put into production in Asia. Moreover, due to the increasing market demand for PX, the supply of toluene and benzene has increased. . In addition, Mobile Source Air Toxics (MSAT) will produce more pure benzene. Second, in the past year, the market competitiveness of styrene (PS) relative to polypropylene (PP) is gradually increasing. Although from the perspective of market conditions in 2004-2007, the development of the aromatics industry chain is not as good as that of the olefins industry chain. However, this situation is improving and the market demand for PS is gradually increasing.
North American styrene demand is expected to grow
Ineos Nova CEO Kevin McQuade said a few days ago that styrene demand in North America will increase by 1-1.5% in the next three years, and styrene demand in Europe will increase by 1%. Although the demand for styrene in the Asian region is also expected to increase, it appears that the styrene market in Asia is in poor condition.