Demand for rubber in China to grow at 6.5% per year
ERJ staff report (TP)
Dallas – Demand for natural rubber in China is forecast to grow at 6.5% per year, according to research by ReportsnReports.
In its report, "Research and Forecast of China Natural Rubber Industry, 2014-2018" – it is estimated that the consumption of natural rubber will reach 3.51 million tons (2.72 million tonnes) at the end of 2014, and 4.52 million tons in 2018 with a growth rate of 6.5% per year.
ReportsnReports said there are more than 150 rubber farms and about 300,000 rubber farmers in China. According to statistics, the natural rubber planting area reached 17 million mu (1.13 million hectares) in 2013 and the output was 850,000 tons – a global ranking of third and fourth respectively. The major producing regions are in the south – Hainan, Yunnan and Guangdong.
In 2013, the consumption of natural rubber in China reached about 3.314 million tons, up 12% over the previous year.
The consumption in the automobile tire industry accounts for 70% of the total figure. The remainder is for non-tire industries – of which shoes accounts for about one third.
As the automobile tire industry and the downstream synthetic rubber market develop constantly, ReportsnReports expects the demand will retain a stable increase trend.