Metallurgy / Chemicals / Rubber & Plastics

The International Rubber Research Organization (IRSG) stated in its July edition of the "World Rubber Industry Outlook" (WRIO) that with the strong recovery of the global economy, total rubber demand is expected to increase by 7.4% year-on-year (the same below) in 2021, and 2022 The annual growth rate will slow to 4.7%.

At the same time, IRSG predicts that world tire demand will rebound from a decline of 7.3% in 2020 to an increase of 7.2% in 2021.

Thanks to the continuous surge in demand from the medical industry and the mobile supply chain, the non-tire industry is expected to grow by 7.6%.

IRSG also predicts that global natural rubber (NR) demand will rebound by 7.1% this year, from a decline of 6.8% in 2020 to 12.71 million tons; world synthetic rubber (SR) demand will rebound by 7.6%, from a decline of 5.3% in 2020 to 14.36 million tons, which benefited from strong growth in emerging markets in the United States, Europe and Asia.

In addition, IRSG stated that the lower total planting rate will have an impact on medium and long-term supply. The total output of natural rubber is expected to rebound by 6.5% this year to 13.86 million tons, exceeding the level before the epidemic in 2019. In 2022, the growth of natural rubber production will slow to 3.5%.