Halo Butyl Rubber Price Trend and Forecast

Regional Market Overview

Get the latest insights on price movement and trend analysis of Halo Butyl Rubber in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Halo Butyl Rubber Price Trend for the Second Half of 2023

Asia

During the latter part of 2023, the pricing trend of halo butyl rubber was predominantly influenced by heightened import activities and a decreased demand projection for halo butyl rubber. This contrasted with the global market's performance, which notably lagged behind the Asian market, particularly in China.

Halo Butyl Rubber Price Chart

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While there were signs of improvement in the market dynamics of Japan and Indonesia, the halo butyl rubber market in India remained sluggish. India experienced a notable decline, reaching a new nadir in the latest quarter, prompting dealers to reduce their halo butyl rubber prices. The pricing trajectory of halo butyl rubber exhibited fluctuations, exacerbated by the downturn in the tire industry.

Europe

During the third and fourth quarters of 2023, Germany witnessed a significant decline in the price of halo butyl rubber, largely attributed to unfavorable natural gas costs. Concurrently, the automotive industry grappled with a notable decrease in new car registrations, presenting additional challenges.

The final quarter of 2023 marked a 0.3% economic contraction in Germany, spurred by rising inflation across Europe. Similarly, the construction sector in Germany experienced continued decline throughout 2023 due to market unpredictability, elevated lending rates, and diminishing demand, all of which contributed to the overarching downward trajectory in halo butyl rubber pricing.

North America

In the second half of 2023, halo butyl rubber prices in the U.S. market experienced a decline following challenges encountered in the third and fourth quarters of the same year in global markets. This decline was primarily attributed to reduced prices set by major exporting nations in Asia and Europe.

Despite a robust trend in U.S. auto sales, economic apprehensions arose due to the sharp decrease in new orders from various downstream sectors, signaling issues with demand both domestically and internationally. Consequently, the continuous pace of automotive sales failed to bolster the price of halo butyl rubber.

Analyst Insight

According to Procurement Resource, the price trend of Halo butyl rubber is expected to decline, given the current market dynamics and the constricted budget of the consumers.

Halo Butyl Rubber Price Trend for the First Half of 2023

Asia

The first quarter of 2023 showed mixed trend in the price of halo butyl rubber. However, the second quarter proved to be much more fruitful, and as a result, the price trend of halo butyl rubber inclined gradually in this quarter.

The struggling market of automotive and the entry of Tesla in the China region negatively impacted the prices of halo butyl rubber in the first quarter. The second quarter, on the other hand, was supported by the rising demand for the product from the downstream industries and positive market sentiments in the pharmaceutical and automotive sectors.

Europe

The price trend of halo butyl rubber fluctuated throughout the first and second quarters of 2023. The first quarter was positively influenced by the growth of the automotive sector due to the increased availability of semiconductor chips.

But in the second quarter, the poor dynamics of the construction sector resulted in a decline in demand. The main influencing factors in this weak performance of the construction sector were the hike in interest rates, the low number of new orders, and the significant decrease in the cost of raw materials.

North America

The North American region showcased volatility in the price trend of halo butyl rubber in the first and second quarters of 2023. The region was affected by the slow recovery of the automotive and construction sector and falling prices of natural gas and crude oil.

The economic sector of the region also took a path down after the closing of two US banks that deeply affected the economy of the US. In addition, the falling feedstock prices also failed to provide the necessary support to the halo butyl rubber market, and as a result, the price trend of halo butyl rubber nosedived.

Analyst Insight

According to Procurement Resource, the price trend of Halo Butyl Rubber is estimated to showcase a mixed trend as the automotive and construction sectors are still in the recovery phase.

Procurement Resource provides latest prices of Halo Butyl Rubber. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.