There is no installed production capacity for Styrene Monomer in India. As a result, domestic bulk prices are completely dependent on international prices and exchange rate fluctuations. Domestically, Styrene finds major application in production of Polystyrene (PS) and Styrene Butadiene Rubber (SBR).
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However, the demand for Polystyrene, which accounts for more than 30% of the end-user consumption of Styrene in India, tends to fall with the onset of monsoons. Since India does not have any domestic manufacturer and there are no projections for any capacity additions, the supply-demand gap for Styrene Monomer is widening, with yearly rise in demand at a CAGR of 3.57 %.
It is traded in all major cities of India, and the big buyers of Styrene are located in Maharashtra, Gujarat, Arunachal Pradesh and the northern region of India.
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