According to the latest market report of IHS chemical, a famous American consulting company, the world consumption of rubber additives is expected to be 1.5 million tons in 2016, and the demand will increase from 965 thousand tons in 2005 to nearly 1.8 million tons in 2020, with an average annual growth rate of 3.5% from 2015 to 2020. It is understood that the Chinese market will continue to develop by 2020, mainly due to the strong motor vehicle production and demand. It is estimated that China will account for about 50% of the increase in rubber additives in the world. Demand for rubber AIDS in Japan and the European Union reversed a decline several years ago, while that in the United States will accelerate as a result of improved market conditions.
China now dominates the consumption of rubber additives, accounting for 49% of global demand and 37% of market value. Europe accounts for 13% of global demand and North America for 11%. The automotive industry is the backbone of demand for rubber additives, with tire production accounting for 60 percent of its consumption and other automotive applications accounting for about 16 percent of consumption.
In Asia, China and southeast Asia have seen rapid growth in demand in recent years, thanks to rapid economic growth in China and southeast Asian countries.
In the United States, the market of rubber additives is growing in tandem with that of the rubber industry. In 2015, the consumption in North America was 162,000 tons, which is expected to remain stable until 2016. The annual growth rate is expected to be 1-2% by 2020, and the consumption will reach 174,000 tons by 2020.
In Europe, the consumption of rubber additives in Western Europe was about 114,000 tons in 2015, of which about 79,000 tons were produced in central and eastern Europe. It is predicted that in 2015-2020, the average annual growth rate of consumption in Western Europe will be 0.5-1.5%, that in central and eastern Europe will be 1.5-2.5%, and that in the Middle East and Africa will be 3-4%.