In Q1 2024, the Butyl Rubber market in the USA experienced a bearish trend, with prices dropping by around 5%. This decline was mainly caused by reduced demand from key sectors such as automotive and construction, along with an increased supply of raw materials like Isobutylene and Isoprene. Eased geopolitical tensions and improved supply chains further pressured the market, while a slowdown in industrial activity contributed to the downward trend.
In Q2 2024, the global Butyl Rubber market continued its bearish trend, with prices decreasing across major regions. This was driven by weaker demand from industries such as automotive, tire manufacturing, and construction. The combination of higher raw material availability and softer demand exerted further downward pressure on prices.
By Q3 2024, the Butyl Rubber market experienced stable growth, with prices stabilizing at around $1,800 per metric ton FOB Novorossiysk. Although demand from end-user industries remained stagnant, increased demand for consumer goods and raw materials led to higher freight costs, contributing to market volatility.
Looking ahead to Q4 2024, the Butyl Rubber market is expected to maintain a positive trajectory, fuelled by strong global demand from the automotive and construction sectors. However, economic uncertainties, fluctuations in raw material supply, and rising freight costs could introduce some volatility.