Conversion to oil, yield of styrene and formation of side products such as α-methyl styrene, ethyl benzene, benzene, toluene, dimer and trimer were affected by residue formed during thermal degradation. Also, control of reaction temperature had a difficulty at the first stage. Thus, new reaction system using wetted-wall type reactor was proposed and examined on various parameters such as reaction temperature, feeding rate and removal velocity of formed vapor. Optimun condition was obtained from continuous thermal degradation using wetted-wall type reactor and reaction kinetic study was carried out at new type reactor.