According to foreign media news on January 8, the latest data from the International Rubber Research Organization (IRSG) shows that global rubber demand is expected to increase by 2.6% in 2020, while 2019 is expected to decrease by 1.5% from 2018.
Global rubber demand is expected to grow by 2.6% in 2020
According to IRSG’s latest edition of the World Rubber Industry Outlook, global rubber demand will recover in 2020.
The report shows that the 4.3% growth of the tire industry will be the main factor driving the recovery of global rubber demand in 2020. The report predicts that the tire industry’s demand will grow by 1.5% this year.
According to IRSG, demand will fall to 28.7 million tons in 2019, but it is expected to rise to 29.5 million tons in 2020 and further rise to 30.3 million tons in 2021.
The report also shows that global natural rubber demand in 2019 is expected to decrease by about 0.1%, or about 13.8 million tons, compared to 2018, and it will recover 1.9% by 2020.
The global demand for synthetic rubber in 2019 is expected to decrease by 2.8% from 2018 to slightly less than 15 million tons, but it is expected to rebound by 3.4% by 2020.