Guangdong, China – The growth of main-product output, export volume and export value of China’s rubber sector will slow down in 2015, said chairman of China Rubber Industry Association Deng Yali during her speech at the 2015 China Rubber Conference in Guangzhou.
“However, the output of segments with high added value and great market potential is expected to show high increase,” she added.
This year steel wire braided rubber hose is likely to have a 32.4 percent jump in output to 490 million meters, in the backdrop of a 3.6 percent rise for rubber hose to 1.5 billion meters.
According to Deng, in 2014 the whole sector had a mere 0.1 percent profit growth, compared to an 18.5 percent increase in 2013. The tire segment showed a 4.4 percent profit drop.
“It’s worth noticing that domestic tire makers had a 9.7 percent profit drop last year, while foreign-owned companies delivered a 16.7 percent profit growth,” said Deng.
The whole sector reported a 1.5 percent revenue growth in 2014 compared to 2.7 percent in 2013. Rubber products’ revenue reached 987 billion yuan (€148 billion) last year, while the tire segment’s revenue has been falling for two consecutive years - its output, however, rose 6.2 percent to 562 million units last year.
The export value of China’s rubber sector grew 7.4 percent in 2014, compared to a 0.8 percent rate in 2013. The tire segment saw a 22.6 percent rise in export volume to 4.4 million tonnes but a mere 3.5 percent rise in export value.