Demand for natural rubber (NR) in China is forecast to grow at 6.5 percent per year, according to research by ReportsnReports.

In its report, “Research and Forecast of China Natural Rubber Industry, 2014-2018,” market research firm ReportsnReports estimates that the consumption of NR will reach 3.51 million tons by year- end, and 4.52 million tons in 2018—with a growth rate of 6.5 percent per year.

ReportsnReports said there are more than 150 rubber farms and about 300,000 rubber farmers in China. According to statistics, the NR planting area reached 17 million miles in 2013, and the output was 850,000 tons—a global ranking of third and fourth respectively. The major producing regions are in the south—Hainan, Yunnan and Guangdong.

In 2013, the consumption of NR in China reached about 3.314 million tons, up 12 percent over the previous year.

The consumption in the automobile tire industry accounts for 70 percent of the total figure. The remainder is for non-tire industries, of which shoes accounts for about one third.

As the automobile tire industry and the downstream synthetic rubber market develop constantly, ReportsnReports expects demand will retain a stable increase trend.

Source: tirebusiness.com