Synthetic Rubber Price Trend

Synthetic Rubber Prices December 2023

USA’s price of synthetic rubber for Q4 2023 reached 1775 USD/MT in December.
The price trend for synthetic rubber in Japan accounted for 1526 USD/MT in Q4 of 2023.
In the fourth quarter of 2023, Germany’s synthetic rubber recorded 1552 USD/MT.

Synthetic Rubber Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Synthetic Rubber Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of synthetic rubber pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of synthetic rubber at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of synthetic rubber price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing synthetic rubber price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Synthetic Rubber Market Analysis

The global synthetic rubber market size reached US$ 31.78 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 42.93 Billion, at a projected CAGR of 3.40% during 2023-2032.

• There is a rise in the demand for synthetic rubber due to the thriving automotive industry. It is preferred in many different products such as tires for cars and motorcycles, hoses, belts, seats, O-rings, and gaskets. Tires often employ synthetic rubber because it is highly durable and resistant to a wide range of adverse weather conditions. Synthetic rubber gaskets and seals are also necessary to prevent leaks and guarantee the correct operation of many auto components including the engines, transmissions, and brake systems. These components are essential for preserving the efficiency, safety, and performance of automobiles. Furthermore, rapid urbanization, inflating income levels of individuals, and evolving lifestyles are contributing to an increase in the utilization of cars, which is thereby driving the need for synthetic rubber. The Society of Automobile Manufacturers (SIAM) stated that the production of vehicles was 2,84,34,742 during the fiscal year 2023-2024.
• Increasing environmental concerns and stringent regulations regarding emissions and fuel efficiency are prompting manufacturers to develop eco-friendly synthetic rubber alternatives. This shift towards sustainability is encouraging the utilization of bio-based or recycled synthetic rubber in numerous sectors.
• The synthetic rubber demand is further propelled by its utilization in roofing membranes in construction projects. It has excellent protection against weather, ultraviolet (UV) rays, and heat transfer. These properties make it a preferred choice for flat or low-slope roofs in commercial and residential buildings. Furthermore, this rubber is employed in expansion joint systems to deal with thermal expansion and contraction in concrete structures like bridges, highways, and parking decks. Rubber expansion joints absorb movement, decrease stress on concrete components, and prevent cracks or damage from temperature changes and seismic events. Synthetic rubber flooring and mats are further used in commercial and industrial facilities because it possesses slip-resistant features, shock-absorbing qualities, and long-lasting durability characteristics.
• The synthetic rubber market share is further reinforced by its employment in a wide range of consumer goods including footwear, sporting goods, and electronics. Consumer demand for these products drives the synthetic rubber market demand.

Synthetic Rubber News

The report covers the latest developments, updates, and trends impacting the global synthetic rubber market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in synthetic rubber production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the synthetic rubber price trend.

Latest developments in the synthetic rubber industry:

• In 20 December 2023, Russian petrochemicals major Sibur's Nizhnekamskneftekhim completed the upgrade of its halobutyl rubbers (HBR) capacities, ramping them up by one third, from 150 to 200 kt.
• In 30 May 2023, Arlanxeo planned to build a rubber production plant in Jubail, Saudi Arabia. The 140,000 t/y facility will create two elastomers such as lithium butadiene rubber (LiBR) and ultra-high cis polybutadiene (NdBR), as part of the US$ 11 billion Amiral complex that Saudi Aramco and Total Energies planned.

Product Description

Synthetic rubber is an elastomer that is produced by synthesizing it from petroleum and other minerals in manufacturing units in a man-made way. It is produced from extra polymers that is made from polyene monomers and is widely used as a replacement for natural rubber in diverse sectors requiring enhanced material. It is also resistant to solvents, oxygen, oils, and specific chemicals than natural rubber. It can handle a broader spectrum of temperatures like sunlight and snow and maintain its improved flexibility through long term.

It is also less dependent on natural resources and can be easily produced in huge quantities, which makes it a more reliable option for sectors that require consistent supply. In addition, it is cost-effective to create and provides enhanced longevity in comparison to natural rubber.

Regional Coverage

The report provides a detailed analysis of the synthetic rubber market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the synthetic rubber price trend.

Global Synthetic Rubber Price

The report offers a holistic view of the global synthetic rubber pricing trends in the form of synthetic rubber price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of synthetic rubber but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed synthetic rubber demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Synthetic Rubber Price

European synthetic rubber prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.

This analysis can be extended to include detailed synthetic rubber price information for a comprehensive list of countries.

North America Synthetic Rubber Price

The analysis of synthetic rubber prices in North America delves into the regional industry dynamics, encompassing the impact of local production capacities and the trade flows between North America and other significant global markets.

Specific synthetic rubber historical data within the United States and Canada can also be provided.

Middle East and Africa Synthetic Rubber Price

The report explores the synthetic rubber pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on synthetic rubber prices for countries can also be provided.

Asia Pacific Synthetic Rubber Price

The synthetic rubber pricing trends in Asia Pacific are examined, reflecting the role of the region as a major global production hub and consumer market, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.

This synthetic rubber price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Synthetic Rubber Price

The analysis of synthetic rubber prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of synthetic rubber pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting synthetic rubber price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The synthetic rubber price charts ensure our clients remain at the forefront of the industry.