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Global rubber demand is expected to grow by 2.6% in 2020.

2020-08-13

According to foreign media reports on January 8, the latest data from the International Rubber Study Group (IRSG) indicates that global rubber demand is expected to grow by 2.6% in 2020, while it is projected to decline by 1.5% in 2019 compared to 2018. According to the latest "World Rubber Industry Outlook" from IRSG, global rubber demand is set to recover in 2020. The report shows that a 4.3% growth in the tire industry will be the main driver for the recovery of global rubber demand in 2020. The report estimates that demand in the tire industry will grow by 1.5% this year. IRSG stated that demand fell to 28.7 million tons in 2019, but is expected to rebound to 29.5 million tons in 2020, and further increase to 30.3 million tons in 2021. The report also indicates that global natural rubber demand in 2019 is expected to decrease by about 0.1% compared to 2018, or about 13.8 million tons, but will recover by 1.9% in 2020. Global synthetic rubber demand in 2019 is expected to decline by 2.8% compared to 2018, to just below 15 million tons, but is projected to rebound by 3.4% in 2020.

According to the latest version of the IRSG's "World Rubber Industry Outlook", global rubber demand is expected to recover in 2020.

The report shows that a 4.3% growth in the tire industry will be the main factor driving the recovery of global rubber demand in 2020. The report predicts that demand in the tire industry will grow by 1.5% this year.

IRSG stated that demand fell to 28.7 million tons in 2019, but is expected to rebound to 29.5 million tons in 2020 and further rise to 30.3 million tons in 2021.

The report also shows that global natural rubber demand in 2019 is expected to decrease by about 0.1% compared to 2018, or about 13.8 million tons, and will recover by 1.9% in 2020.

Global synthetic rubber demand in 2019 is expected to decline by 2.8% compared to 2018, to just below 15 million tons, but is expected to rebound by 3.4% in 2020.

Reprinted from:Rubber Technology Network

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