Elastomers continued demand growth in 2006

Global elastomer consumption grew by around 2.1% to 21.4 million tonnes in 2006, according to the International Rubber Study Group (IRSG).

The IRSG held its 43rd Assembly of Nations in Bangkok, Thailand, last month. During the group’s Statistical Committee session at the assembly, IRSG member governments finalised consumption figures for 2006.

Consumption of natural rubber grew by an estimated 1.5% to 9.2 million tonnes. Growth in the synthetic rubber sector was higher at 2.5%, with consumption increasing to 12.2 million tonnes.

Production of natural rubber increased sharply for many countries during the latter part of the year, leading to a level of 9.6 million tonnes. Production of synthetic rubber is estimated to have increased to 12.5 million tonnes.

The IRSG Secretariat is expecting world elastomer usage to grow by about 4.0% to 22.3 million tonnes in 2007. The markets for natural rubber and synthetic rubber are projected to increase to 9.6 million tonnes and 12.6 million tonnes, representing annual growth of 4.4% and 3.6%, respectively.

During the World Rubber Summit, which preceded the Assembly of Nations, the IRSG reported that the world rubber consumption is now forecast to reach 31.8 million tonnes by 2020. This would represent an increase of around 10 million tonnes compared to 2006.

In the opening address for the summit, Professor Thira Sutabutra, Thailand’s minister of agriculture and cooperatives, urged all natural rubber producers and consumers to support smallholders in the rubber-producing countries, and at the same time underline the sustainable nature of rubber supplies.