Butyl Rubber Pricing Report

Butyl Rubber Prices December 2023

During Q4 2023 in the United States, butyl rubber prices and demand were impacted by the issues faced by the automotive sector as a result of the United Auto Workers (UAW) strike, which disrupted supply chains. Besides this, the European construction industry's slowdown reduced import orders, further affecting demand. Rising global crude oil prices increased production costs, causing the price to increase to 2045 USD/MT.

Similarly in Singapore, low supply contrasted with high demand, leading to a bullish market situation and a slight price increase. However, weak domestic demand persisted due to sluggish construction industry performance, leading to the final price of 2115 USD/MT for butyl rubber (MV 32-51).

Furthermore, in Russia, the butyl rubber’s (MV 32-51) price spiked to 1795 USD/MT during Q4 2023, due to increased European automotive market inquiries, resulting in sustained demand. Concurrently, conflicts between Ukraine and Russia also disrupted the supply chain, contributing to the price hike.

Butyl Rubber Price Trend, Market Analysis, and News

IMARC’s newly published report, titled Butyl Rubber Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data, offers an in-depth analysis of butyl 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 prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing butyl 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.

Butyl Rubber Market Analysis

The global butyl rubber market size reached US$ 4.1 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 6.3 Billion, at a projected CAGR of 4.90% during 2023-2032.

• The burgeoning automotive industry is a primary driver as butyl rubber is extensively used in tire manufacturing due to its excellent air retention properties, enhancing tire performance and fuel efficiency.
• Along with this, the flourishing expansion of the construction sector is propelling the market growth as butyl rubber finds application in roofing membranes, sealants, and adhesives, thanks to its superior weather resistance and durability.
• The increasing demand for pharmaceutical packaging materials is boosting the market growth, with butyl rubber being preferred for its gas impermeability, ensuring the integrity and longevity of pharmaceutical products.
• Moreover, the rise in healthcare expenditure worldwide is driving the demand for pharmaceutical stoppers and closures, further fueling the butyl rubber market.
• Concurrent with this, the burgeoning consumer goods industry, particularly in the Asia-Pacific region, is bolstering market growth as butyl rubber is utilized in the production of consumer products such as chewing gum for its chewy texture and flavor retention capabilities.
• The implementation of strict regulations regarding fuel efficiency and emissions standards pushing automotive manufacturers towards lightweight materials like butyl rubber is creating a positive outlook for market expansion.
• Furthermore, the increasing adoption of tubeless tires in both commercial and passenger vehicles spurring the demand for butyl rubber, given its crucial role in maintaining tire pressure is acting as another significant growth-inducing factor.
• Concurrent with this, the thriving oil and gas industry is providing an impetus to the market expansion as butyl rubber is utilized in pipeline coatings and seals, ensuring the safety and integrity of the oil and gas infrastructure.
• Additionally, the growing trend towards sustainable and eco-friendly materials resulting in a surging demand for butyl rubber, which is recyclable and has a lower environmental impact compared to alternatives is presenting lucrative opportunities for market expansion.
• Apart from this, the rapid urbanization and infrastructure development in developing countries are further propelling the market forward, as the demand for construction materials and automotive components continues to rise in tandem with urban growth.

Butyl Rubber News

The report covers the latest developments, updates, and trends impacting the global butyl 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 butyl rubber production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.

Latest developments in the butyl rubber industry:

• In December 2023, SIBUR, the sole local manufacturer of halobutyl rubbers (HBR) in Russia, announced the completion of its RUB 8 billion project, which upgraded its capacity by one-third from 150 to 200 kt. It entailed installing 6 new HBR production units and renovating 16 others, which will elevate productivity, automation, and environmental standards compliance of the company. 
• In September 2023, Pyrowave, a Canadian technology company partnered with Michelin and Knauf Industries to produce elastomer and plastic products using 100% recycled styrene from plastic waste. The resulting elastomers displayed similar quality and properties to those made from fossil-sourced materials. Pyrowave's technology helped mitigate the environmental footprint of styrene production by 82% in comparison to fossil sources.
• In April 2023, China's Hainan Baling Chemical New Material Co., Ltd., a Sinopec subsidiary, began production of its styrene-butadiene copolymer (SBC) project in Hainan, China, with an annual production capacity of 170,000 tons. This 1.924-billion-yuan investment will maximize turnover, reduce expenses, and fortify Sinopec's competitiveness in the market.

Product Description

Butyl rubber commonly known as polyisobutylene, refers to a type of synthetic rubber compound noted for its distinct set of features. It is mostly made up of isobutylene and a little amount of isoprene. Its molecular structure is composed of lengthy chains of repeating units, which give it its distinctive features. Butyl rubber displays great resistance to gas and moisture infiltration, making it perfect for applications that require airtight seals or barriers.

This rubber is also exceptionally durable and weather resistant, maintaining its integrity even in difficult and harsh environmental conditions. It is highly resistant to heat, ozone, chemicals, and oxidation, making it ideal for a variety of industrial applications. Butyl rubber is widely utilized in the production of inner tube tires, seals and gaskets, roofing membranes, adhesives, and pharmaceutical stoppers. Aside from that, it is used in the manufacture of chewing gum due to its chewiness and capacity to maintain flavor.

Regional Coverage

The report provides a detailed analysis of the butyl 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 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 price trends.

Global Butyl Rubber Price

The report offers a holistic view of the global butyl rubber pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.

Europe Butyl Rubber Price

In Q4 2023, butyl rubber prices climbed, particularly in Russia due to a recovery in European demand for used cars and improved automotive industry. Western Europe saw a slight increase in vehicle sales, indicating sustained demand for butyl rubber. However, tension between Ukraine and Russia in December 2023 disrupted supply and demand, leading to increased prices. The downstream automotive sector also increased demand, causing buyers to increase their purchasing activities.

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

North America Butyl Rubber Price

In Q4 2023, butyl rubber in the North American region faced challenges due to a strike by the UAW union, a slowdown in the European construction industry, and rising global crude oil prices. The US automotive sector experienced a decline in sales, while the European construction industry experienced a slowdown, affecting import orders. Despite these challenges, the market experienced a slight price increase in the USA.

Specific data on butyl rubber prices within the United States and Canada can also be provided.

Middle East and Africa Butyl Rubber Price

In Q4 2023, the pricing of butyl rubber in the Middle East and Africa (MEA) region was influenced by the global automotive industry's recovery, fluctuating crude oil prices, and steady availability. Saudi Arabia experienced the most significant price increase due to increased production costs and reduced supply.

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

Asia Pacific Butyl Rubber Price

In Q4 2023, the APAC region's butyl rubber market experienced a bullish market with a slight increase in prices due to strong consumer sentiment and growth in the automotive sector. However, in Singapore, the demand for butyl rubber remained weak due to the construction industry's lackluster performance.

This analysis can be further extended to include detailed butyl rubber prices for a comprehensive list of countries within the region.

Latin America Butyl Rubber Price

The analysis of butyl 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 butyl 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 butyl rubber price volatility, 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, ensuring they remain at the forefront of the butyl rubber industry.