Styrene Butadiene Styrene Price Trend and Forecast

Styrene Butadiene Styrene Regional Price Overview

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

Styrene Butadiene Styrene Price Trend for the Q1 of 2024

Asia

In Asia, the styrene butadiene styrene (SBS) market closely followed the trends of its feedstock, styrene, and butadiene, which in turn is highly influenced by crude oil prices. During the first quarter of 2024, SBS prices rose consistently due to OPEC+ announcing a reduction in oil output volumes, following declines in production from major members Russia and Iraq. Therefore, the consistent upward trajectory was driven by a combination of reduced crude oil output, supply chain disruptions, escalating production costs, and geopolitical tensions.
 

Styrene Butadiene Styrene Price Chart

Please Login or Subscribe to Access the Styrene Butadiene Styrene Price Chart Data
 

These factors collectively influenced the market dynamics, leading to increased prices despite varying degrees of downstream demand and logistical challenges. In all, the SBS market experienced a positive price trend during this period, reflecting the broader impacts of global economic and geopolitical developments on raw materials and production costs.

Europe

In Europe, styrene butadiene styrene prices also treaded upward throughout the first quarter of 2024. Initially, the market was slow due to ample inventories, but stocks started to deplete as the quarter progressed and the supply-demand gap widened. The downstream demand remained steady and regular, but global supply chain constraints limited the availability of styrene butadiene styrene.

Additionally, rising energy and processing costs further pressured suppliers, contributing to the upward price trend. Another indirect factor, such as uprising tensions at the Red Sea and the limited influx of Asian imports, further worsened the supply situation and gave the styrene butadiene styrene market its required momentum.

North America

In North America, the styrene butadiene styrene market mirrored the price patterns seen in Asia and Europe. After a brief period of stability, logistical challenges began to dominate over the other market-driving factors. Additionally, the continuous attacks on shipments from several regions of the world by the Houthi community and the diversion of the Red Sea and Suez Canal routes raised the concerns of the trading community amid depleting inventory levels.

Further, with rising crude oil prices impacting international markets, manufacturing costs became unsustainable. Despite modest downstream demand, manufacturers were compelled to raise prices due to the increasing difficulties in trade exchanges and the growing infeasibility of maintaining previous cost structures.

Analyst Insight

According to Procurement Resource, the price of Styrene Butadiene Styrene is expected to trace a northward trajectory in the upcoming quarters with support from the downstream industries and feedstock sectors.

Procurement Resource provides latest prices of Styrene Butadiene Styrene. 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.