The newly-released World Rubber Industry Outlook has predicted that world total rubber demand is forecast to increase at 1.8% and 4.1% in 2015 and 2016 respectively, from 29.1 million tonnes in 2015 and to 30.3 million tonnes in 2016 respectively.
The report, which was released last month, published by Singapore-headquartered International Rubber Study Group (IRSG), also found that world natural rubber (NR) demand is forecast to increase by 3.1% in 2015 under the IMF Scenario and by 4.4% in 2016.
Other key findings:
The World Rubber Industry Outlook (WRIO) is published biannually and covers the latest long-term forecasts for the next ten years, covering the world economy as well as the vehicle, tyre and rubber sectors. The December 2014 edition of the WRIO is now available from the IRSG and contains three economic scenarios (IMF, Downside and Oil Price).