Rapid Growth In Global Rubber Demand
United States global industry analysis consultancy (GIA) recently forecasted demand for synthetic rubber in the world in the coming years. The Agency believes that rapid economic development in the global economy, especially emerging economies, driven by strong auto industry will stimulate the world rubber consumption growth. China, Japan and the United States will continue to lead the global rubber consumption. China, in particular, domestic automobile production and the rapid growth of industrial products, rubber, fastest-growing country in the world.
However, the next 5 years, as the car market matures and auto saturation, growth will gradually slow global demand for rubber. In the rubber market in China, demand for tires and industrial rubber products will continue to increase. Other countries in the Asia-Pacific region, due to the growth of the economy, car production increased and new tyres are more and more factories, rubber consumption will grow substantially. These States, because of lower material and labor costs, coupled with the automotive industry is still in the development stage, its rubber demand in Western Europe, North America and Japan constitute a fierce competition in the market.
GIA also predicted that 2012 global synthetic rubber consumption was close to 15 million tonnes. The Asia-Pacific region (excluding Japan), has the world's largest consumer market in synthetic rubber, 37% per cent of the world market share, followed by European markets accounted for 29%. In the 2001-2010 years, fastest growth in consumption of synthetic rubber in the Asia-Pacific region, with an average annual growth rate of up to 9.28%, followed by Latin America and relatively slow growth in consumption in Europe. China is Asia's largest rubber consumer, 70% per cent of total Asian consumption. In terms of variety of synthetic rubber, the largest amount of styrene-butadiene rubber, followed by Polybutadiene Rubber. By 2015, the global consumption of styrene-butadiene rubber is expected to reach 6.7 million tons.