ACCORDING to research firm Freedonia Group, global rubber consumption is forecast to rise 4.3% per year through 2015 to 30.5 million tonnes. The global automotive market will drive global demand for rubber utilised in tyres because replacement motor vehicle tyres represent the largest market for rubber.
The significant increase in the number of vehicle use will boost the amount of rubber consumed worldwide. In addition, a pick-up in global manufacturing activity through 2015 will spur rubber demand in non-tyre applications. Asia Pacific region is the largest regional market for rubber, accounting for 60% of global demand in 2010 and will register the fastest growth in rubber consumption through 2015.
The massive Chinese rubber market, which alone accounted for nearly one-third of global rubber demand in 2010, will record the strongest gains of any major market through 2015. The large amount of motorcycle and bicycle production in the country supports significant demand for rubber utilised in non-motor vehicle tyres. The rubber markets in the US and Western Europe will rebound somewhat from the sales declines recorded from 2005-2010. (PRA)
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