2019, Rubber Raw Material Demand Will Exceed 30 Million

- Jan 15, 2019-

Recently, the International Rubber Research Organization (IRSG) released the latest data, saying that global rubber demand in 2019 is expected to increase by about 2.5% from the previous year, from 29.3 million tons to about 30 million tons.

According to IRSG, the growth rate of global rubber raw materials in 2019 is slightly lower than that of the previous year. The demand for natural rubber and synthetic rubber is expected to increase by 2.6% and 2.4% respectively, while the demand for natural rubber in 2018 has increased by 4.9%. With 13.9 million tons, synthetic rubber demand increased by 1.7% to 15.4 million tons.

Some industry insiders said that the decline in the growth rate of raw material demand has confirmed the fact that the rubber industry is developing at a low speed. At the same time, the oversupply of raw materials is difficult to resolve in the short term, and the low price of rubber will not turn well for some time. According to the organization's forecast, the demand for natural rubber and synthetic rubber in 2019 is about 14.2 million tons and 15.8 million tons.

"China Rubber" learned that the Singapore-based IRSG is an intergovernmental organization composed of 36 rubber producing countries and 120 consumers. The member states include the European Union (28 member states), India, Japan, Nigeria, and the Russian Federation. Singapore and Sri Lanka, etc.