For the Quarter Ending December 2024
North America
The North American synthetic rubber market exhibited varied price movements in Q4 2024, shaped by supply stability, demand shifts, and sector-specific developments. EPDM Rubber prices inched up slightly, supported by stable supply and a recovering automotive sector, whereas Polyolefin Elastomer (POE) prices declined due to subdued construction activity despite steady automotive demand. Fluoroelastomer (FKM) remained largely stable, with minor gains driven by steady hybrid and electric vehicle demand, though aerospace sector weakness capped broader increases. Polybutadiene Rubber (PBR) saw moderate price growth, supported by stable feedstock availability and sustained demand from the automotive and tire industries, despite an early Q1 dip in Butadiene prices. Meanwhile, Halo Butyl Rubber (HBR) prices rose modestly, backed by strong tire and tube demand, though weaker exports and fluctuating energy costs limited gains.
Nitrile Butadiene Rubber (NBR) prices fluctuated significantly, initially surging due to strong automotive demand and rising Acrylonitrile (ACN) prices, before declining in November-December amid seasonal slowdowns and destocking. Manufacturers scheduled plant shutdowns to manage excess inventory, contributing to market volatility. Styrene-Butadiene Rubber (SBR) prices declined, primarily influenced by lower Butadiene costs despite steady demand from tire manufacturers. Tight SBR production helped balance supply pressures, while economic uncertainty kept overall demand restrained.
Overall, North America’s synthetic rubber market remained resilient, with stable supply chains and strategic inventory management mitigating market pressures. The automotive sector continued to drive demand, while construction slowdowns, feedstock fluctuations, and global uncertainties influenced price trends.
APAC
The synthetic rubber market in the APAC region exhibited mixed trends in Q4 2024, with price movements influenced by sector-specific demand and supply conditions. The Chinese EPDM Rubber market saw a marginal price increase, supported by steady pricing strategies and recovering demand from the automotive and construction sectors. In contrast, Polyolefin Elastomer (POE) prices declined due to stable supply and weak construction activity, despite steady demand in packaging and consumer goods. Fluoroelastomer (FKM) prices in Japan remained stable, bolstered by aerospace sector demand, though automotive sector weakness and logistical challenges limited further price movement. Meanwhile, the Polybutadiene Rubber (PBR) market in China recorded an uptrend, supported by stable butadiene pricing, high production rates, and strong tire manufacturing demand. The Nitrile Butadiene Rubber (NBR) market in South Korea experienced volatility. October prices rose due to strong automotive demand, limited production capacity, and higher acrylonitrile (ACN) costs, but weakened in November amid lower consumer confidence and declining automotive sales. December saw stabilization, with balanced supply and moderate trading. Styrene-Butadiene Rubber (SBR) prices in the region declined as butadiene costs fell and demand from the automotive and tire industries remained weak. South Korea, a key exporter, faced international market pressure, further weighing on SBR pricing. Overall, the APAC synthetic rubber market was shaped by fluctuations in automotive demand, stable construction activity, and supply chain adjustments, with varied price movements across different product segments.
Europe
The European synthetic rubber market displayed mixed pricing trends in Q4 2024, shaped by fluctuating feedstock costs, sector-specific demand shifts, and evolving supply conditions. Polybutadiene Rubber (PBR) prices in Germany recorded a 1.51% decline, impacted by weak automotive and tire sector demand despite stable supply conditions. While November saw a modest rise in car registrations, December’s downturn weighed on sentiment. Similarly, the Fluoroelastomer (FKM) market saw a slight 0.58% price dip, with steady supply levels countering fluctuations in the automotive sector. However, the aerospace industry’s consistent demand provided some stability. Meanwhile, Styrene-Butadiene Rubber (SBR) prices followed an upward trajectory, supported by rising butadiene and styrene costs. Demand for electric vehicles and tires strengthened, aided by government incentives. In contrast, Nitrile Butadiene Rubber (NBR) faced price volatility, with October’s gains driven by tight supply and rising Acrylonitrile (ACN) prices, only to reverse in November as demand eased. Halo Butyl Rubber (HBR) saw a 4% increase in market activity, bolstered by stable production and moderate demand in adhesives and sealants, despite persistent construction sector challenges. Overall, while supply chains improved and raw material prices fluctuated, demand across key sectors remained uneven. The synthetic rubber market in Europe navigated these dynamics cautiously, with price stability prevailing in most segments amid ongoing economic uncertainties.
