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Synthetic Rubber Price Trend and Forecast
Get the latest insights on price movement and trend analysis of Synthetic Rubber in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Synthetic Rubber Price Trend for the First Half of 2023
Synthetic rubbers like neoprene, styrene butadiene rubber, etc., experienced a wavering price pattern in the first half of the year 2023. Even though the reviving consumption sectors supported market growth, the demands were moderate; hence, synthetic rubber prices fluctuated within a narrow range in the highly competitive market.
Though marginally, the overall market outlook was positive. Some occasional dips were attributed to oversupply and demand cuts, but the construction, automotive, manufacturing, systems engineering, and other sectors contributed to the fair market performance of synthetic rubber.
Following in the Asian footsteps, the European Synthetic Rubber market also witnessed periodic fluctuations in price trend. The consumption sectors here were still struggling because of the inflationary pressure, but the high feedstock prices provided some positive cost support to the price trend. But the harrowing downstream demands continued to be a matter of concern. The first quarter was still better compared to the second. More downward tilts were seen in the second quarter. Overall, mixed market sentiments were observed.
The North American Synthetic Rubber market behaved no differently than the global Synthetic Rubber market. The price trend struggled to remain firm. The biggest setback was because of depreciated demands from downstream sectors.
According to Procurement Resource, the price trend for Synthetic Rubber are likely to remain oscillating in the coming months, given the current uncertainties in the market.
Synthetic Rubber Price Trend for the Second Half of 2022
The market dynamics for synthetic rubber products like styrene-butadiene rubber, neoprene, etc., fluctuated throughout the third and fourth quarters of 2022. The prices in the Asian region were affected majorly due to the sluggish demand from the tire industry, and logistical conflicts between South Asian regions. The fourth quarter was majorly affected by the imposition of covid restrictions, oversupply, and low production costs of the products, which led to the downward trajectory of the prices of synthetic rubber products.
The declining price trend for synthetic rubber in the European region were primarily due to the dwindling demand from the shoe, automotive, carpet, and construction industries. The region also witnessed oversupply issues due to which major production plants were forced to shut their production completely. The rise in diesel and overall energy production costs, declining demand from both domestic and international markets, and the rise in inventories adversely affected the prices of synthetic rubber in this region.
In the North American region, the prices fell in the fourth quarter after being stagnant in the third quarter. The price trend was significantly affected by sufficient feedstock availability and the sluggish demand from the end-user industries. The shortage of labour and rising inflation along with slowed production due to festival season kept the prices of synthetic rubber in the negative zone. The price trend, thus, in the North American region followed a downward trajectory.
According to Procurement Resource, the price trend for Synthetic Rubber are expected to gain some momentum and showcase a mixed trend in the upcoming quarter. The demand from the end-sector industries such as automotive and the ripple effects of the Russia-Ukraine war will be the major players in determining the price of synthetic rubber products in the market.
Synthetic Rubber Price Trend For the First Half of 2022
The synthetic rubber prices surged throughout the Asian market as the prices of crude oil reached a new maximum. The petrochemical industry was deeply impacted by the trade restrictions, lack of raw materials and port congestions. The resurgence of covid-19 in powerhouse China led to a series of lockdowns causing the factories to halt production. The strong market sentiments provided the needed demand side support hence, the prices of synthetic rubber soared throughout Asia.
However, with the high-cost inflation and cautious buying activity of traders, the synthetic prices started to stabilize. The rubber prices started to decline due to demand destruction owing to contractionary monetary policies by banks the world over and the looming threat of a global recession. The price of Styrene Butadiene Rubber averaged 172410 INR/MT in the Indian market while that of neoprene-Guangdong CR121 averaged 43250 RMB/MT.
The synthetic rubber pricing patterns held steady during the time period mentioned. The manufacturers increased their prices to protect their profitability as a result of the elevated costs of raw materials, power, and crude oil. The strong demand from the packaging, automotive, and pharmaceutical industries further supported these increased quotes. During the specified period, the price of Styrene Butadiene Rubber averaged 3420 USD/MT chloroprene rubber prices increased by 7.3%.
The higher prices of synthetic rubber throughout the US domestic market were supported by trade restrictions along with labour shortages, commodity inflation, and surging market attitudes. While the price of SBR ranged between 3750 and 3940 USD/MT while that of chloroprene rubber recorded a hike of 4.5% ( approx.).
Procurement Resource provides latest prices of Synthetic Rubber. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Synthetic Rubber is an artificial elastomer made by the polymerization of petroleum byproducts. It is superior to natural rubber in terms of thermal stability and strong resistance to oil and oxidizing agents. The rubber industry worldwide is looking to other methods of preparing synthetic rubbers rather than petroleum byproducts to reduce the carbon footprint and increase sustainability. Some common types of synthetic rubbers are SBR, silicone, neoprene, etc.
|Automotive Parts, Adhesives, Lubricants, Sporting Goods, Footwear
|Sinopec, DuPont, The Dow Chemical Company, ExxonMobil, Kumho Petrochemical Company Ltd
|Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|US$ (Data can also be provided in local currency)
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|The report can be customized as per the requirements of the customer
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The process using glucose involves fermentation of a 70% w/w glucose solution to produce isoprene. This reaction intermediate undergoes solution-step polymerization to obtain Polyisoprene.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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Phone:+1 307 363 1045
Phone: +91 1203185500
Phone: +44 7537 132103