Industry Overview - Demand for synthetic rubber in Western markets is declining due to a slowdown in automotive and tyre manufacturing, alongside increased global competition [1] - Global butadiene and synthetic rubber prices are experiencing a downward trend as a result of these market conditions [1] Price Trends - European butadiene contract price for December 2025 decreased to €720 per tonne ($837/t), down from €1,050 per tonne in March 2025, marking the ninth consecutive decline [2] - In the US, spot butadiene prices fell to $562 per tonne at the end of November 2025 [2] - In China, domestic butadiene prices averaged Yuan 7,021 per tonne ($988/t) in November, reflecting a 16% decrease from October and a 42% decline from January 2025 [2] - Global prices for Styrene-Butadiene Rubber (SBR) and Butadiene Rubber (BR) have also decreased in line with falling butadiene feedstock prices [2] Competitive Landscape - The synthetic rubber industry, particularly in the commodity segment, is facing intense competition from Chinese producers, which has negatively impacted profitability and led to plant closures [2] - Notable closures include Arlanxeo's Port Jerome facility in France and Lion Elastomers' facility in Texas, indicating a consolidation trend in Western synthetic rubber production [2] Demand Variability - Demand for advanced rubber grades remains strong, particularly supported by the automotive industry, while commodity rubber grades are experiencing sluggish demand [3] Trade Dynamics - In Europe, extra-regional EU27+UK SSBR exports increased by 30% in the first three quarters of 2025, driven by a 49% rise in shipments to China [4] - Conversely, extra-regional EU27+UK ESBR exports fell by 10% year-on-year, primarily due to significant losses to India [4] - Lower butadiene prices in Asia, combined with soft demand and uncertainty related to US tariffs, have made ESBR production in Asia more competitive, leading to reduced European exports [4] - China's synthetic rubber production is growing to meet higher demand from the automotive and tyre industries, resulting in increased exports to the ASEAN region [4]

聚苯新材料一体化项目主要原料来自大亚湾石化园区内相关企业，采用国内/外先进技术，经深加工成 为高附加值产品，填补国内及华南地区空白，提升大亚湾石化园区上下游企业的盈利能力和抗风险能 力。值得一提的是，其生产的PMMA、MS、LCBR、SSBR等产品，将扭转园区大宗通用产品的资源利 用现状，打造全球最大聚苯乙烯制造基地和全链条光学级高分子新材料制造基地。 进一步助力大亚湾石化区强链补链 中化新网讯 近日，惠州仁信新材料股份有限公司（下称"仁信新材"）聚苯新材料一体化项目奠基仪式 举行。该项目总投资额38亿元，将进一步助力大亚湾石化区强链补链，提升产业链抗风险能力。 该项目将建设12.8万吨/年低顺聚丁二烯新材料（LCBR）/溶聚丁苯橡胶（SSBR）、55万吨/年高抗冲聚 苯乙烯（HIPS）、10万吨/年聚甲基丙烯酸甲酯(PMMA)/甲基丙烯酸甲酯-苯乙烯共聚新材料(MS)、35万 吨/年叔丁醇TBA、13万吨/年环氧丙烷、11万吨/年甲基丙烯酸甲酯（MMA）、10万吨/年丁基橡胶 (IIR)，项目投产后预计达产产值约78亿元/年。 ...