IRSG: 2020 global rubber demand plummets by 12%

The International Rubber Research Group (IRSG) predicts that in 2020, global rubber demand will fall by 12.6% year-on-year (the same below) to 25.2 million tons due to the new crown epidemic.

The International Monetary Fund (IMF) predicts that the country’s epidemic control measures will result in factory shutdowns, retail shutdowns, and restrictions on the flow of labor and goods. Global rubber demand will decline in 2020.

It is estimated that in 2019, the global demand for natural rubber will be 13.62 million tons, down 1.0%. The IMF predicts that the world demand for natural rubber is expected to drop by 11% to 12.12 million tons in 2020.
       

In 2019, the global demand for synthetic rubber was 15.18 million tons, down 1.0%. The IMF predicts that in 2002, the global demand for synthetic rubber is expected to drop by 14% to 13.06 million tons. In 2021, the global demand for synthetic rubber is expected to resume growth at 8% higher than the 7.8% of natural rubber.