Chan Ye Xin Xi Wang·2025-06-25 01:11Industry Overview - Polystyrene (PS) is a polymer synthesized from styrene monomers through free radical polymerization, classified into general-purpose polystyrene (GPPS), high-impact polystyrene (HIPS), and expandable polystyrene (EPS) [1][4] - The production capacity of polystyrene in China has been steadily increasing, with production expected to reach 4.286 million tons in 2024, up from 2.65 million tons in 2018, representing a year-on-year increase of 7.1% [1][10] Production Side - China's polystyrene production capacity has grown significantly, reaching 6.8 million tons in 2024, a year-on-year increase of 10.57% [6] - The integration trend of styrene-PS facilities is notable, with 45,000 tons of new integrated capacity accounting for 69.23% of the new capacity in 2024 [6] - The majority of polystyrene production capacity is concentrated in East and South China, with East China accounting for 72% and South China for 16% [8] Import and Export - Since 2021, China's polystyrene import volume has declined due to increased domestic production capacity, with imports of 509,300 tons in 2024, down 19.64% year-on-year [12] - Exports have increased, with 543,000 tons exported in 2024, a year-on-year increase of 3.41%, marking a shift from trade deficit to trade surplus [12] Consumption Side - The apparent consumption of polystyrene in China has risen to 4.2523 million tons in 2024, up from 3.4828 million tons in 2018, reflecting a year-on-year growth of 3.45% [14] Company Landscape - Key players in the polystyrene industry include Zhenjiang Qimei Chemical Co., Huizhou Renxin New Materials Co., Xinghui Environmental Materials Co., and Shanghai Yingke Industrial Co. [16][19] - Zhenjiang Qimei Chemical focuses on diversifying its product range and enhancing the proportion of high-tech products [17] - Huizhou Renxin has a production capacity of over 210,000 tons of general-purpose polystyrene and 90,000 tons of high-impact polystyrene [17] - Xinghui Environmental is the largest polystyrene producer in South China, with a production capacity of 350,000 tons [19] Future Trends - The polystyrene industry is expected to see steady capacity expansion, with total capacity projected to exceed 8 million tons by the end of 2025, although competition is intensifying due to oversupply [21] - Export markets are becoming increasingly important, with a compound annual growth rate of 40.52% in exports since 2019, and expectations for exports to exceed 300,000 tons by 2025 [22] - Supportive policies and regulations are being implemented to promote the healthy and standardized development of the polystyrene industry [23]