RESEARCH and Market has released a new study on China’s synthetic rubber (SR) market, stating that the nation’s SR capacity has reached 3.9 million tonnes in 2012, with output hitting 3.85 million tonnes.
The report also showed that of the 23 SR producing companies, major players Sinopec and China National Petroleum Corp account for 59.5% of the country’s SR capacity.
The increasing capacity is also due to robust domestic demand as well as favourable policies that favour private, foreign and Taiwanese enterprises to capture the Chinese synthetic rubber market.