India has no styrene production facilities, so imports meet all of its growing styrene demand. Domestic users feel every abrupt swing in international prices and availability.

Even the only planned capacity, IndianOil's 387 KTA plant at Panipat, will meet only about a third of demand, so international producers will keep a strong hold on the Indian market. And because benzene is the main feedstock, benzene prices directly affect styrene supply to India.

Styrene is cheap to transport and widely traded between regions. Asia takes more than half of global styrene demand and should remain the main source of growth, because industrial development, population growth and rising incomes, the three things that drive demand, are all strong in emerging Asian markets and in India. Industrial development in China still has a large influence on regional demand.

Polystyrene is still the main derivative of styrene, and in several developed Western countries its industry has matured. With manufacturing down and packaging switching to other materials, styrene demand in America and Europe has declined in recent years.

Polypropylene and PET keep squeezing polystyrene on both cost and performance, and global polystyrene demand will grow at a moderate rate from 2026 to 2031. Other important uses of styrene worldwide include acrylonitrile-butadiene-styrene (ABS) and styrene-acrylonitrile (SAN) resins, styrene-butadiene (SB) copolymer latexes and unsaturated polyester.

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