Styrene polymers in primary forms market in Portugal

Earlier Report Observations

From 2018 to 2020, the market volume for styrene polymers in Portugal contracted from 142.9 thousand tons to 118.2 thousand tons. This decline coincided with global challenges such as raw material price volatility and increasing environmental regulatory pressures, which affected market stability. The foundational chemical clusters in Sines and Estarreja supported domestic value chains, but the overall market size diminished during this period.

The market began to recover after 2020, reaching 123.9 thousand tons by 2023. This turnaround was driven by major investments, including Repsol's 2021 announcement of a €657 million expansion of the Sines Industrial Complex to produce high-value recyclable polymeric materials. New players like Geonik, Lda entered the market, and Sabic's production of circular polymers in response to EU environmental regulations further stimulated activity. Despite ongoing raw material price volatility, the industry focused on developing low-emission and recyclable materials to align with European sustainability standards.

In subsequent years, growing demand from Portugal's electronics and appliance manufacturing sector, particularly for ABS polymers, bolstered market dynamics. Innovations in recycling, such as styrene recovery from post-consumer polystyrene waste and Dow's launch of advanced HDPE resins, underscored the industry's commitment to sustainability. Continuous investments in the Sines and Estarreja clusters reinforced the competitiveness of Portugal's styrene polymers market through 2025.

Production styrene polymers in primary forms in Portugal

In value, 2018-2021, K $ US

Portugal's production of styrene polymers in primary forms declined for the second consecutive year. In 2020, output was valued at 48 504 thousand US dollars, which is 9.0% lower than in 2019. Between 2018 and 2020, production decreased by 23.1%, representing an annualized decline of 8.4%.

Annual dynamics of production in Portugal in value, 2018-2021, K $ US

In kind, 2018-2021, t

Portugal's production volume of styrene polymers in primary forms fell for the second year in a row. In 2020, the country produced 24 405 tonnes, a decrease of 6.7% from 2019. From 2018 to 2020, production dropped by 16.9%, equivalent to an annualized rate of 6.0%.

Annual dynamics of production in Portugal in kind, 2018-2021, t

Exports styrene polymers in primary forms from Portugal

Exports in kind, K t

Exports of styrene polymers in primary forms from Portugal increased for the second consecutive year. In 2021, shipments reached 21.8 thousand tonnes, a sharp rise of 53.4% compared to 2020. Between 2018 and 2021, exports grew by 39.3%, with an annualized rate of 11.7%. The lowest volume was recorded in 2019 at 13.2 thousand tonnes, which also saw the largest decline of 15.6%.

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

From 2018 to 2021, Spain, France, and Italy remained the main buyers of styrene polymers in primary forms from Portugal. Spain accounted for 46.8% of exports in kind, France for 15.7%, and Italy for 6.9%, together making up 69.4% of total exports.

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

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

Exports in value, M $ US

The export market showed an unstable trend over the period. The minimum value was recorded in 2020 at 18.2 million US dollars, while the maximum was in 2021 at 33.7 million US dollars, marking a 1.9-fold increase. In 2021, exports surged by 85.2% compared to 2020. The largest decline occurred in 2019, with a drop of 32.0%.

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

Between 2018 and 2021, three key markets—Spain, France, and Italy—collectively absorbed 72.1% of Portugal's total export value for styrene polymers in primary forms.

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

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

Imports styrene polymers in primary forms to Portugal

Imports in kind, K t

Imports of styrene polymers in primary forms into Portugal declined for the third consecutive year. In 2021, imports amounted to 94.9 thousand tonnes, a significant decrease of 12.1% year-on-year. From 2018 to 2021, imports fell by 26.5%, with a compound annual growth rate of -9.7%.

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

During 2018–2021, the leading sources for imports in kind of styrene polymers in primary forms to Portugal were Spain, France, and the Netherlands. Spain contributed 32.5% of imports, France 13.1%, and the Netherlands 11.9%, together accounting for 57.4% of total import flows.

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

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

Imports in value, M $ US

After a two-year decrease, imports of styrene polymers in primary forms into Portugal increased. In 2021, imports reached 247.9 million US dollars, a sharp rise of 66.8% compared to 2020. The lowest value was recorded in 2020 at 148.6 million US dollars, while the largest decline occurred in 2019 with a drop of 28.6%.

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

Over the period 2018–2021, Spain, the Netherlands, and Germany were the top contributors to imports in value terms. Spain accounted for 30.3% of imports, the Netherlands for 12.9%, and Germany for 11.8%, jointly making up 55.0% of total import flows.

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

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