Bharatbook.com - World Tire & Rubber Forecasts for 2011& 2016
Jul 4th, 2008 by admin
Global demand to rise 4%annually through 2011. World rubber consumption is forecast to increase 4.0 percent annually to 26.5 million metric tons in 2011. Gains will directly benefit from solid growth in world motor vehicle production, as well as a strong global economy. The US, China and Japan dominate global rubber consumption, and will continue to do so,
collectively accounting for more than half of the market in 2011. China has become the leading consumer of rubber worldwide, following more than a decade of
strong growth in motor vehicle production and industrial goods manufacturing. The country overtook Japan as the second largest rubber market in the late 1990s
and by 2001 had essentially caught up to the US as the world’s leading consumer. While China will continue to extend that lead, the US and Japan will remain
leading markets worldwide, because of their extensive motor vehicle and tire industries.
Chinese market to slow yet remain fastest growing
The strongest gains are forecast for China, though the double digit annual gains that characterized China’s rubber market from 2001 to 2006 are forecast to
slow significantly as its domestic market matures and motor vehicle production decelerates. The Chinese market will be sustained primarily by expanding demand
for industrial rubber products such as hoses, belts and gaskets, offsetting slower, though still solid, growth for tire rubber. Above-average gains also are forecast for most of the rest of the Asia/ Pacific, excluding Japan, which will benefit from strong economic growth and rising motor vehicle production. Inaddition, the growing tire industries in these nations will support demand for rubber. Among the major developed regions, the large North American, West European
and Japanese markets will all see gains below the global average. Each of these regions will suffer from a weak outlook for the regional motor vehicle industry
and competition from nations with lower labor or raw material costs. Non-tire rubber demand to outpace tire rubber Non-tire rubber will outpace tire rubber
demand through 2011, based on a favorable outlook for mid-range elastomers (e.g., ethylene-propylene, nitrile and polychloroprene) used in components such as hoses, belts, gaskets and weatherstripping. Tire rubber demand will benefit from the popularity of performance tires, which use more rubber than all seasonradials
and also have shorter service lives, thus stimulating replacement demand. Natural, synthetic rubber to both expand at strong pace Demand for both natural and synthetic rubber will expand at a strong pace, but the division of the market will remain essentially unchanged through 2011, with synthetic rubber continuing to hold
approximately 55 percent of demand and natural rubber holding the remaining 45 percent. General-purpose synthetic commodity elastomers -- typically
defined as SBR (styrene-butadiene rubber), BR (polybutadiene rubber) and IR (polyisoprene rubber) -- account for the vast majority of synthetic rubber
demand.
Study coverage
World Tire & Rubber, a new Freedonia industry study, is available for $5500. It presents historical demand data for the years 1996, 2001 and 2006 and forecasts
for 2011 and 2016 by product (tires, natural rubber, synthetic rubber), world region and for 30 national markets. The study also considers market environment
factors, assesses global industry structure, evaluates company market share and pro- files 48 industry competitors worldwide
For more information kindly visit: