Global rubber consumption has grown steadily

Update:12-05-2018
Summary:

According to statistics released recently by the Intern […]

According to statistics released recently by the International Rubber Research Organization (IRSG), in recent years, the global rubber consumption has continued to grow steadily. In 2017, the global rubber consumption amounted to 28.377 million tons, an increase of 3.0% over the same period of the previous year.

Among them, China's rubber consumption accounted for 30% of the total, ranking first in the global rubber consumption for three consecutive years. The consumption of rubber in emerging Asian countries such as India, Thailand, and Vietnam also showed steady growth, which together with China has driven the growth of global rubber consumption.

In addition, among the top 15 countries in terms of rubber product, the highest growth rate was in Vietnam ranked 12th in 2016, with an increase of 20.5% in 2017. Reported that Vietnam, with its cheap labor force, has attracted Japanese and South Korean electronics equipment manufacturers to invest and set up factories. Vietnam is attracting attention as a new production base for ASEAN. The increase in rubber consumption in the future is also expected.

Among Southeast Asian countries, Indonesia's rubber consumption ranks sixth with 971,100 tons, a year-on-year increase of 5.7%; Malaysia ranks eighth with 890,300 tons, a year-on-year increase of 6.8%, and its growth in rubber consumption is mainly dependent on automobiles and motorcycles. Pulling the demand for vehicle manufacturing and automotive tires.