Styrene market in Russia

Earlier Report Observations

Between 2018 and 2020, the Russian styrene market volume grew from 587 thousand tons to 624 thousand tons. This expansion was driven by increased domestic production and the influence of sanctions, which altered import and export flows. In 2020, supply chain disruptions from the COVID-19 pandemic further reduced imports, prompting local manufacturers to raise output and meet demand.

The market continued to grow to 635 thousand tons by 2022. Post-pandemic recovery boosted consumption, while Western sanctions redirected exports to EAEU and Asian markets. Increased demand for styrene polymers in key industries helped maintain stable market volume during this period.

After a slight dip to 626 thousand tons in 2023, the market recovered to 648 thousand tons in 2024. By 2025, production activity remained significant at 699 thousand tons.

Production styrene in Russia

In kind, 2018-2021, K t

In 2021, Russia produced 718.7 thousand tons of styrene, marking a 4.6% decline compared to 2020. Production peaked in 2020 at 753.5 thousand tons, which represented the largest annual increase of 3.7% during the period. Overall, between 2018 and 2021, production decreased by 2.5%, translating to an average annual decline of 0.8%.

Annual dynamics of production in Russia in kind, 2018-2021, K t

Exports styrene from Russia

Exports in kind, K t

Exports of styrene from Russia declined for the third consecutive year in 2021, reaching 90.9 thousand tons, which was 30.2% lower than in 2020. Over the period from 2018 to 2021, exports fell by 41.1%, with an average annual decrease of 16.2%.

Annual dynamics of product's exports from Russia in kind, 2018-2021, K t

From 2018 to 2021, Finland was the dominant destination for Russian styrene exports in volume terms, accounting for 73.8% of total shipments. Other countries each held significantly smaller shares during this period.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Russia in kind, 2018-2021

Exports in value, M $ US

After two years of decline, the value of styrene exports from Russia increased in 2021, reaching 115.2 million US dollars, a dramatic 31.9% rise compared to the previous year. However, over the full period from 2018 to 2021, exports decreased by 40.7%, with an average annual decline of 16.0%. The lowest value was recorded in 2020 at 87.3 million US dollars, following the largest annual decline of 36.6% in 2019.

Annual dynamics of product's exports from Russia in value, 2018-2021, M $ US

Between 2018 and 2021, Finland was the key buyer of Russian styrene in value terms, taking 74.6% of total exports. The remainder was distributed among a diversified group of other countries.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Russia in value, 2018-2021

Imports styrene to Russia

Imports in kind, K t

Import volumes of styrene into Russia showed significant volatility from 2018 to 2021. In 2020, imports hit their lowest point at 0.0 thousand tons, representing a 95.1% decline. By 2021, imports surged to 5.9 thousand tons, an increase of 103 955.7% compared to 2020. The peak-to-trough amplitude between these years was 1 041-fold, highlighting the market's irregular changes.

Annual dynamics of product's imports to Russia in kind, 2018-2021, K t

During 2018–2021, the United States and the Netherlands were the leading sources of styrene imports into Russia in volume terms, together accounting for 90.2% of total flows. Other destinations made up the remainder.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Russia in kind, 2018-2021

Imports in value, M $ US

The value of styrene imports into Russia experienced noticeable fluctuations from 2018 to 2021. In 2020, imports reached their minimum at 0.0 million US dollars, with a 69.9% decline that year. By 2021, imports rose sharply to 8.5 million US dollars, an increase of 19 357.0% compared to 2020. The variation between the maximum in 2021 and the minimum in 2020 was 195-fold.

Annual dynamics of product's imports to Russia in value, 2018-2021, M $ US

From 2018 to 2021, the Netherlands and the United States were the dominant suppliers of styrene to Russia in value terms, together taking 88.0% of total imports. Other partners played a less significant role in the market.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Russia in value, 2018-2021