Kuala Lumpur – World demand for rubber is estimated to have fallen 1.5% year-on-year in 2019 to 28.7 million tonnes, new figures from the International Rubber Study Group (IRSG) show.
But demand is set to show a 2.6% year-on-year increase this year, according to the latest edition of the IRSG’s World Rubber Industry Outlook.
The recovery will be driven by a 1.5% rise in demand from the tire sector and 4.3% growth in the non-tire sector, said the IRSG report.
The trend is predicted to continue beyond the 12 months, with the growth rate likely to reach 2.8% year-on-year in 2021.
Published 30 Dec, the WRIO includes data on production, consumption, trade and prices – covering both natural rubber (NR) and synthetic rubber (SR).
According to the report, world natural rubber (NR) demand increased by 4.1% year-on-year in 2018 to 13.76 million tonnes.
Based on the projections by the International Monetary Fund (IMF), the figure is expected to decline marginally by 0.1% in 2019, reaching 13.75 million tonnes, before recovering by 1.9% in 2020.
Global synthetic rubber (SR) demand increased by 1.5% in 2018 to 15.4 million tonnes. The market, however, is expected to decline by 2.8% in 2019, reaching 14.98 million tonnes, before registering growth of 3.4% in 2020.
closed cell sponge rubber extrusion manufacturer always pays attention to rubber industries news and provides high quality product to clients, seashore rubber company be glad to show industries news.
SUBSCRIBER TO US GET ALL THE LATEST INFORMATION ON EVENTS,SALES AND OFFERS.