World Natural Rubber Use Set for 4% Growth: Freedonia
Most of that increase will come from demand for tires and vehicle components, the company said in its latest market study.
`The largest national rubber market, China, will consume over one-third of all new rubber demand in the world through 2013, and account for 30% of the global rubber market in 2013,` Freedonia said.
`The Asia/Pacific region is by far the leading rubber consumer, accounting for 56% of global rubber demand in 2008. Moreover, the region will post the strongest growth in rubber demand through 2013, despite the fact that the important Japanese rubber market is expected to see a decline due to a fall in motor vehicle production levels in the country after a surprisingly strong performance in 2008.
`North America and Western Europe will continue to see subpar gains relative to the global average, although both regions will see an improvement from the declines of the 2003 to 2008 period,` Freedonia said in its report.
