Global rubber consumption to approach 31 mmt in 2015

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Global rubber consumption to approach 31 mmt in 2015
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, @% ^- D# k/ |0 q3 V' T' TWednesday, March 28, 2012

  O2 q- J1 k% H8 O3 K- W0 ZCleveland, OH - Global rubber consumption is forecast to rise 4.3 percent per year through 2015 to 30.5 million metric tons. Rubber demand will be stimulated by an increase in tire output growth as global motor vehicle production accelerates following a relatively weak 2005-2010 period in many developed nations around the world. Because replacement motor vehicle tires represent by far the largest market for rubber, strong increases in the number of motor vehicles in use throughout the world will significantly boost the amount of rubber consumed worldwide. Growth in motor vehicle production will also support demand for rubber utilized in tires, as well as in various automotive components, such as hoses and gaskets. In addition, a pickup in global manufacturing activity through 2015 will spur rubber demand in non-tire applications. These and other trends are presented in World Rubber, a new study from The Freedonia Group, a Cleveland-based industry market research firm. The Asia/Pacific region is by far the largest regional market for rubber, accounting for 60 percent of global demand in 2010. In addition, the region will register the fastest growth in rubber consumption through 2015. The massive Chinese rubber market, which alone accounted for nearly one-third of global rubber demand in 2010, will record the strongest gains of any major nation through 2015. The large amount of motorcycle and bicycle production in the country supports significant demand for rubber utilized in non-motor vehicle tires. The rubber markets in North America and Western Europe will rebound somewhat from the sales declines recorded during the 2005 to 2010 period. Rubber markets in Eastern Europe and Central and South America will also see accelerating growth through 2015, while gains in the small Africa/Mideast market will match the global pace. Tire rubber, which accounts for about two-thirds of all rubber demand, is expected to register slower gains than non-tire rubber sales through 2015. Production of non-motor vehicle tires, including bicycle, motorcycle and industrial vehicle tires, will significantly outpace motor vehicle tire output in certain areas of the world, especially developing nations in the Asia/Pacific region. Nevertheless, rubber used in motor vehicle tires, which accounted for 57 percent of tire rubber sales in 2010, will continue to represent the majority of tire rubber demand. Rubber utilized in non-tire applications will register stronger gains through 2015, but will remain the much smaller segment of the rubber market.