Global rubber demand seen up 5% to 28.2 m tons in 2013, says IRSG

Thursday, 24 May 2012 00:55 - - {{hitsCtrl.values.hits}}

SINGAPORE (Reuters) : Global demand for natural and synthetic rubber is forecast to rise just over 5 percent year-on-year in 2013 to 28.2 million tonnes, the International Rubber Study Group (IRSG) said on Wednesday.

The IRSG had forecast rubber demand at 26.8 million tonnes for 2012.

“In 2013, the corresponding numbers are forecast to be 28.2 million tonnes for total rubber demand, with 16.4 million tonnes for synthetic rubber demand and 11.8 million tonnes for natural rubber demand,” the group said in a statement released at a global rubber conference in Singapore.

The IRGS forecast natural rubber production at 11.9 million tonnes in 2013.

Global rubber consumption is forecast to reach 36.7 million tonnes by 2020, with natural rubber consumption also rising to 16.4 million tonnes, the group said.

Thailand, Indonesia and Malaysia produce 70 percent of the world’s natural rubber. China takes 35 percent of rubber output, making it the world’s largest user of the commodity.