Chloroprene Rubber Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Chloroprene Rubber in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Chloroprene Rubber Price Trend for the Second Half of 2023

Asia

The trajectory of chloroprene prices in the H2 of 2023 majorly demonstrated the consequences of the rise in import activity and the downturn in the demand forecast for chloroprene rubber. Comparatively, the Asian market, particularly in China, performed better than the worldwide market.

Chloroprene Rubber Price Chart

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The Japanese and Indonesian markets displayed marginal improvements in their market dynamics, but the chloroprene rubber market in India remained weak. The latest quarter saw India reach a new low, which alarmed traders and caused them to lower their chloroprene rubber pricing. The decline in the tire industry exacerbated the fluctuations in the price trends of chloroprene rubber.

Europe

The adverse cost of natural gas caused a significant fall in the price of chloroprene rubber in Germany in Q3 and Q4 of 2023. The automobile industry also had to deal with a double-digit percentage decline in new car registrations, among other difficulties. The European countries continued to face rising inflation, which caused the German economy to contract by 0.3% in the final quarter of 2023. Similar to this, the unpredictability of the market, high loan rates, and declining demand caused German building activity to continue to decline in 2023, which in turn contributed to the general downward trend in chloroprene rubber prices.

North America

After faltering during both the third and fourth quarters of 2023 in global markets, chloroprene rubber prices in the U.S. markets saw a decline, primarily because of lower pricing from major exporting nations in Asia and Europe. A positive trend in U.S. auto sales did not prevent the emergence of economic challenges. The steep fall in new orders from other downstream industries suggested issues with both local and overseas demand. Thus, the continuing pace of automobile sales alone was unable to drive up the price of chloroprene rubber.

Analyst Insight

According to Procurement Resource, the price trend of Chloroprene Rubber is estimated to bear the consequences of the disruption of the Red Sea route and fluctuations in the sales numbers of the automotive industries.

Chloroprene Rubber Price Trend for the First Half of 2023

Asia

Chloroprene Rubber observed positive market behavior in the Asian region during the first half of the year 2023, with high swinging trend. As the market opened after a long lockdown in 2022, the recovery was still slow, but it picked up pace in 2023, and the downstream sectors like fire protection accessories, aerospace materials, food-grade rubber materials, pharma, and others started posing high demands, so the prices increased.

But as the Chinese Lunar New Year holidays arrived, the prices slumped instantly as the manufacturing activities were halted. However, the market recovered quickly in the second quarter as the prices rose with high demands throughout the remaining period of the second quarter.

Europe

The European Chloroprene Rubber markets observed mixed price trend throughout the said period. The prices were high as the energy prices surged following the Russia- Ukraine conflict, which pushed the production costs to unsustainable heights. But as the energy price started stabilizing with restored supply chains and newer trade routes, the automotive sectors also picked up. As a result, the Chloroprene Rubber prices rose all through the first quarter. The companies made bulk purchases, estimating more sales in the coming months. However, the prices declined in the second quarter as the demand didn’t rise in the same proportion. But overall, market performance was still impressive.

North America

In North America, downstream demands majorly drove the Chloroprene Rubber’s market sentiments. After steadily rising in the first quarter, the month of March witnessed some depreciation in prices, which continued till the middle of the second quarter as the demands fluctuated. Chloroprene Rubber price trend rose again in the latter half of Q2, following the global rising trend.

Analyst Insight

According to Procurement Resource, Chloroprene Rubber poses positive market projections with some fluctuations following the downstream demands.

Chloroprene Rubber Price Trend for the Second Half of 2022

Asia

Chloroprene rubber aka Neoprene showed very oscillating price trend throughout the second half of 2022. As the upstream processes smoothened and the glut of supplies reached the market, prices went down for a brief period. The feedstock costs again soared the prices. A similar mixed-price trend of chloroprene rubber was observed later too. A rising trend was mostly attributed to upstream costs while price dips were attributed to dips in demand.

Europe

The price trend of chloroprene rubber showed a very arbitrary, capricious pattern initially in the second half of 2022 in the European market. Some peaks pertained to convulsions in supply chains while plunges related to the downturn of automobiles and manufacturing sectors.  The later second half witnessed a very stinging drop in the price trend as supply chains were restored and upstreaming costs plunged, but the very low demand in the market never supported the excess supply.

North America

The price trend of chloroprene rubber vacillating throughout the second half of 2022 in the North American market. A very rapid rising and falling behaviour kept the overall price trend uncertain. Universal poor performance in the automobile manufacturing sector did no good for market strength.

Analyst insight

According to Procurement Resource, the Neoprene/Chloroprene rubber is expected to remain volatile in the coming months. As the demand rebounds amidst the market uncertainties the prices are expected to rise in the longer run.

Chloroprene Rubber Price Trend For the First Half of 2022

Asia

The price trend for chloroprene rubber, commonly known as neoprene, remained strong throughout the first half of 2022. The inflated costs of feedstock butadiene and the soaring transport costs due to the resurgence of covid cases in China kept the rubber prices high. The prices of butadiene averaged around 11000 RMB/MT in North China. In June, the price of neoprene-Guangdong CR121 averaged 43250 RMB/MT.

Europe

The crude oil prices soared to an unprecedented level due to the Russia-Ukraine confrontation, triggering an economic backlash in Europe and giving rise to double-digit inflation. The price of feedstock Butadiene averaged around 1350 USD/MT FD Hamburg. With the high feedstock prices and strong pricing globally, the prices of chloroprene rubber increased by 7.3%.

North America

The prices of chloroprene rubber soared throughout the first half of the said year owing to the inflated prices, supply shortages, lack of skilled labour and robust demand from rubber and automotive industries. The price trend of chloroprene rubber recorded a hike of 4.5% ( approx.) during the said period.

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