CLEVELAND (Feb. 5, 2010) — Global rubber demand will rise at a 4.3-percent annual rate through 2013, helped in part by a recovery in vehicle production in the U.S., Canada and France, according to a new report.
Total consumption will grow to 27.9 million metric tons by 2013, according to Cleveland-based market research firm Freedonia Group Inc. China will account for more than one-third of world demand by that date.
The company predicts non-tire rubber demand will grow faster than tire rubber use in the time period, fueled by increasing industrialization in developing countries. Natural rubber will show a slightly higher growth rate than synthetic rubber.
Freedonia expects the Asia/Pacific region—which accounted for 57 percent of world rubber demand in 2008—to continue to show the strongest growth. While North America and Western Europe are forecast to grow at a slower pace than other regions, both should see improvement from the declines experienced in the 2003-2008 period.