According to foreign media on January 8, the latest data from the International Rubber Research Organization (IRSG) shows that global rubber demand is expected to increase by 2.6% in 2020, while in 2019 it is expected to decrease by 1.5% compared with 2018.
According to the latest version of IRSG's world rubber industry outlook, global rubber demand will recover in 2020.
According to the report, the growth of 4.3% in the tire industry will be the main factor to promote the recovery of global rubber demand in 2020. The report predicts that demand in the tire industry will grow by 1.5% this year.
According to IRSG, demand fell to 28.7 million tons in 2019, but is expected to pick up to 29.5 million tons in 2020 and 30.3 million tons in 2021.
The report also shows that the global demand for natural rubber in 2019 is expected to decrease by about 0.1% compared with 2018, or about 13.8 million tons, and will recover by 1.9% by 2020.
Global demand for synthetic rubber in 2019 is expected to decline by 2.8% from 2018 to just under 15 million tons, but it is expected to rebound by 3.4% by 2020.