At the World Rubber Summit, the International Rubber Research Organization (IRSG) issued a report stating that Asia is the focus of the world's rubber industry and is now at a crossroads. Due to the growing population of vehicles, China represents the strongest growth, with an annual growth rate of nearly 9%. The demand for rubber in Asia's tire market is huge.
According to the analysis of the International Rubber Research Organization (IRSG), the total demand for rubber in the world in 2015 and 2016 is expected to increase by 1.8% and 4.1% respectively under the scenario predicted by the International Monetary Fund (IMF). In 2015, global demand for natural rubber is expected to increase by 3.1%, and it will increase by 4.4% in 2016. Global synthetic rubber demand is expected to increase to 16.8 million tons in 2015 and 17.5 million tons in 2016.
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