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World Rubber Consumption To Reach 26.9 Million Metric Tons In 2013

2/22/2010 - World rubber consumption is forecast to rise 4.1 percent per year through 2013 to 26.9 million metric tons, according to a report from The Freedonia Group. Gains will be exaggerated to some extent by the fact that growth will be rising off a weak recession-plagued 2008 base. A majority of rubber demand is accounted for by the motor vehicle sector, particularly via usage in tires. The largest national rubber market, China, will consume over one-third of all new rubber demand in the world through 2013, and account for 30 percent of the global rubber market in 2013. These and other trends are presented in World Rubber & Tire, a new study from The Freedonia Group, a Cleveland, OH-based industry research firm. The Asia/Pacific region is by far the leading rubber consumer, accounting for 56 percent of global rubber demand in 2008. Moreover, the region will post the strongest growth in rubber demand through 2013, despite the fact that the important Japanese rubber market is expected to see a decline due to a fall in motor vehicle production levels in the country after a surprisingly strong performance in 2008. North America and Western Europe will continue to see subpar gains relative to the global average, although both regions will see an improvement from the declines of the 2003 to 2008 period. Non-tire rubber demand will outpace tire rubber demand through 2013. Demand for non-tire rubber products will benefit from rising industrialization levels in developing countries. Tire rubber demand will continue to benefit from strong growth in Asia. Concerns related to the environment and high gasoline prices will boost the popularity of more fuel efficient smaller cars, resulting in a decline in rubber usage per tire through 2013. Demand for synthetic rubber will register slightly slower growth than demand for natural rubber through 2013, but the former will remain more important. World synthetic rubber production capacity totaled over twelve million metric tons at the end of 2008. Natural rubber production is concentrated in Asia, with just the six countries of Thailand, Indonesia, Malaysia, India, Vietnam and China producing 90 percent of the world’s total in 2008. World Rubber & Tire (published January 2010, 571 pages) is available for $5,900 from The Freedonia Group.

The Freedonia Group
www.freedoniagroup.com

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