In Q1 2024, the price trend of Polybutadiene Rubber (PBR) in the APAC and European region showed an upward movement due to several key factors. A significant recovery in industrial activities, especially within the automotive and construction sectors, fuelled the demand for PBR, commonly used in Tire manufacturing and various other rubber applications. Supply constraints from major producers, along with increasing raw material costs, such as Butadiene, further pushed prices higher. The region’s ongoing economic recovery and growing end-use industries also supported this price escalation.
In Q2 2024, the global Polybutadiene Rubber (PBR) market saw an increase, driven by rising demand from the automotive sector, particularly for tires in electric vehicles. PBR’s use in other products like golf balls, conveyor belts, and footwear also contributed to its growth. Environmental regulations promoting sustainable materials and innovations in PBR formulations further boosted the market. Additionally, supply chain disruptions and fluctuating raw material costs like Butadiene played a role in the price rise and higher consumption during this period.
By early Q3 2024, the Polybutadiene Rubber (PBR) market experienced a bearish trend with around 1850 USDMT FOB Busan prices, due to high inventories and weak demand in the domestic as well as from international market.
Looking ahead to Q4 2024, PBR prices are projected to decline moderately due to anticipated seasonal low demand from the automotive and construction sectors and typical year-end industrial slowdowns.