Petrochemical outlook for 2008 polystyrene (PS) looks rather interesting with market trend is expecting to see Middle East polystyrene to be bullish with a lot of new capacity expansion for polystyrene chemical plants to be built at the expense of the South Asia Market.
Price for Polystyrene likely to remain strong and high due to tight supply in Middle East, with a different
scenario in South Asia. Polystyrene outlook in M.East will grow around 4% especially in specialty chemicals from PS base including the traditional electronics, food and beverage packaging.
Styrene costs however, will stay high in 2008, making new plant capacity expansion to be difficult especially outside the Middle East due to low margin, where cheap feedstock is not available.
Limited availability and strong demand within the Gulf Cooperation Council (GCC) region prompted a major Saudi Arabian supplier to cater mainly to the GCC and significantly cut its export volumes to the East Mediterranean (East Med) market this year.
Major PS producers in the Middle East including Saudi Basic Industries Corp (SABIC), Iran’s Tabriz Petrochemical and in South Asian producers of Supreme Petchem, LG Polymers, Pushpa Polymers and Pak Petrochemical Industries (PPI) are foreseeing higher price in polystyrene overall due to limited supply.
SABIC is already planning to shut down its 175 ktpa capacity Polystyrene plant in Al Jubail, Saudi Arabia, for turnaround which will give big impact in short supply of global Polystyrene.
Price for Polystyrene likely to remain strong and high due to tight supply in Middle East, with a different
scenario in South Asia. Polystyrene outlook in M.East will grow around 4% especially in specialty chemicals from PS base including the traditional electronics, food and beverage packaging.
Styrene costs however, will stay high in 2008, making new plant capacity expansion to be difficult especially outside the Middle East due to low margin, where cheap feedstock is not available.
Limited availability and strong demand within the Gulf Cooperation Council (GCC) region prompted a major Saudi Arabian supplier to cater mainly to the GCC and significantly cut its export volumes to the East Mediterranean (East Med) market this year.
Major PS producers in the Middle East including Saudi Basic Industries Corp (SABIC), Iran’s Tabriz Petrochemical and in South Asian producers of Supreme Petchem, LG Polymers, Pushpa Polymers and Pak Petrochemical Industries (PPI) are foreseeing higher price in polystyrene overall due to limited supply.
SABIC is already planning to shut down its 175 ktpa capacity Polystyrene plant in Al Jubail, Saudi Arabia, for turnaround which will give big impact in short supply of global Polystyrene.
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