20 June 2013 21:55 [Source: ICIS news]
HOUSTON (ICIS)--Global styrene demand will grow by 2.8% through 2020, with ?xml:namespace>
Styrene demand from
Dragging on global styrene demand will be
Within the 2.8% global growth rate, demand for expandable polystyrene (EPS) will increase 4.3% and will be “cannibalising" polystyrene (PS) demand, which will only grow in demand by less than 2%, Harrington said.
Operating rates for styrene plants will cross the 90% level by 2016 and will approach 95% by 2020, he said.
Despite increased demand and higher operating rates, Harrington said he does not see additional capacity for styrene being built for several years, citing styrene’s volatile pricing history and the length of time it takes to plan and build new plants.
“It’s a brave person, given the history of styrene, to invest a billion dollars in increasing capacity,” he said.
The ICIS US Aromatics and Derivatives Conference concluded on Thursday.
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