The share of synthetic rubber in total world rubber consumption contracted marginally(-1.8%) from 53.6% in 2017 to 52.6% in 2018, according to the latest Rubber Industry Report released by the International Rubber Study Group (IRSG).
The SR share of USA in 2018 stood at 65.2%, China 44.1%, Asia-Pacific (excluding China) 46.8% and European Union-28 67.5%.
IRSG reports that there was only a marginal growth in both production and consumption of synthetic rubber in 2018. While the world SR production expanded marginally (1.0 %) in 2018, the world SR consumption too reported a marginal growth of 0.7%.
Capacity expansion in Indonesia and Singapore, and steady production growth in India, Malaysia and Thailand driven by domestic demand supported a continuing expansion in SR output in Asia-Pacific excluding China in 2018 (2.1%).
However, sluggish growth in Chinese production owing to lower export demand and declining passenger car sales impacted production.
Reduction in exports to ASEAN countries also impacted production in Japan and Korea.
The world SR consumption growth was affected by weak growth in China and mature markets. Passenger car tyre sales in the Western European countries, Russia, India and ASEAN countries offset fall in sales in China as well as marginal growth registered in mature markets, IRSG says.