The rubber industry includes natural rubber which is obtained from the latex of various plants and synthetic rubber which is a man-made product made from petroleum. The global supply of natural rubber is approximately 20 million tonnes per year and fragmented smallholders in Malaysia, Thailand, Indonesia, China and West Africa produce close to 85% of it. Asia accounts for 93% of the world natural rubber production, with Thailand being the largest producer followed by Indonesia and Vietnam. Other large rubber producers in the region include India, China and Malaysia. Until 2019, before the Coronavirus Pandemic hit the world, supply of natural rubber was steadily falling and not being able to keep up with the world demand.
In late 2019, the International Tripartite Rubber Council projected that in 2020, global supply would fall short by 900,000 tons. While demand declined marginally during the lockdown imposed by nations, it bounced back, due to the need for latex gloves and rebound in China’s tire manufacturing sector.
The first two months of 2020 recorded an annualized fall of 5.2% in global natural rubber production due to the outbreak of the Coronavirus. In the first three quarters of 2020, the total world rubber production decreased by 6.7% year-on-year to reach 19.8 million tonnes from 21.2 million tonnes a year ago. The ratio of natural rubber to synthetic rubber produced worldwide in the period January-September 2020, was 47:53. In 2021, the global natural rubber demand is forecasted to grow by 7% year-on-year, and synthetic rubber demand by 7.2% year-on-year.
Why should the report be purchased?
The report ‘Assessment of the South East Asia Rubber Market 2021’ highlights key dynamics of the global and key rubber markets in the world. The current market scenario, growing opportunity in the sector and the impact of the Covid-19 pandemic has been studied. Key players in the market including Bridgestone Corp., Michelin, Goodyear, Continental A.G. and Sumitomo Rubber Industries Ltd. have been profiled. The report contains latest views and opinions of industry leaders.
Research Methodology
The publisher has conducted in depth secondary research to arrive at key insights. Data collected from key public industry sources and publications has been scanned and analysed impartially to present a clear picture of the industry. All recent developments which impact the sector dynamics have been captured and used to support the research hypothesis.
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Table of Contents
Companies Mentioned
- Bridgestone Corp
- Michelin
- Goodyear
- Continental A.G.
- Sumitomo Rubber Industries Ltd
