China is now having the highest stock of rubber in its history but the demand would continue to rise in future, said Sunny Song, Director, China Rubber Industry Association. She was speaking at the India Rubber Meet (IRM) 2014 here on Friday. She said that the macro economic stability, consumer competitiveness and urbanisation process in China have created new demand in all spheres of rubber industry and the country is becoming more powerful in industrial sector.
“China’s GDP grew by 7.7 per cent in line with last year. The country’s rubber consumption this year is likely to rise by 6.5 per cent to a record 8.3 million tonnes as an expansion in local auto industry boosts demand from tyre makers.
Consumption of natural rubber in China could grow by 6.7% to 3.95 mt in 2014, while synthetic rubber demand is expected to rise by 6.35 per cent to 4.35 mt,” she said.
Speaking at the meet, Fazilet Cinaralap, Secretary-General, European Tyre and Rubber Manufacturers’ Association said that regulations in the auto tyre sector have a significant impact on the competitiveness of the industry and regulation needs to be sustainable too.
She emphasised that there should be a global harmonisation of standards when developing new technical prescriptions and regulations and the proper enforcement of the adopted legislation is essential for obtaining the desired goals.
Fazilet Cinaralap pointed out that the demand from the customers now is for safer, sustainable, lighter and more durable raw materials and products.
James L. McGraw, MD and CEO, International Institute of Synthetic Rubber Producers pointed that globally large scale investment is being made in the synthetic rubber industry and the production capacity is much more than the current demand.
As many as 700 delegates from 30 countries have participated in IRM 2014. The next India Rubber Meet (IRM 2015) will be held in Kochi, in March 2015.
Source: newindianexpress.com
