Demand for synthetic rubber is declining in Western markets due to a slowdown in automotive and tire production and increased global competition. Global butadiene and synthetic rubber prices are falling as a result. This has led to closures of production plants and a consolidation in Western markets. However, demand for advanced rubber grades remains strong in the automotive industry. In contrast, commodity rubber grades are facing sluggish demand. Additionally, Chinese synthetic rubber production is increasing to meet higher demand from the automotive and tire industries in the region. This highlights China’s growing importance in the synthetic rubber sector.

Read more at Yahoo Finance: Autos demand fall and global competition weigh on rubber markets