In China, perceptions that supply of styrene monomer (SM) may be ample are heightening. Several plants started operations in 2021. Production capacity of SM in China increased to 14.51mil mt in November, up about 20% from the corresponding period of last year. Further, SM production capacity is said to increase by 10mil mt or more in 2022-2026. Meanwhile, new plans for derivative plants are not heard. Thus, the market for SM seems to be weak. On the other hand, as prices for feedstocks such as benzene and ethylene are firm, margins of SM are worsening. Some SM producers are considering decreasing production and stopping operations, according to sources. Nevertheless, several plants for derivatives are expected to start operations from 2022 through 2026, including 18 polystyrene (PS) plants, 16 ABS plants and 12 EBS plants. If these plants start operations, SM demand is expected to heighten.