Thailand Rubber Industry Faces Oversupply, States Smart Research Insights in Its New Report Available at MarketPublishers.com01 Nov 2016 • by Natalie Aster
LONDON – At present, there is no balance between the demand and supply of natural rubber given a surplus of the inventory. The inventory surplus is forecast to account for 3 million tonne of synthetic rubber and 1 million tonnes rubber by 2020.
In the meantime, the demand for natural rubber is going down as a result of the economic downturn occurring in China. In 2016, the rubber supply is expected to showcase YoY growth of slightly under 3% to amount to approximately 13 million tonnes. The demand, in its turn, is forecast to grow by more than 4% in the same year to surpass the 12.8 million tonnes mark.
Asia can boast a 93% share in the world’s natural runner production, and Thailand is the major player which is followed by Indonesia. This country is followed by Vietnam and Indonesia. In terms of consumption, China is a leader. The U.S. and India are other prominent consumers.
Growth in the demand for industrial rubber products and the rising consumption of types are set to encourage the global demand for natural rubbers.
Thailand is an owner of a 35% share of the global supply, and this market is estimated to be worth USD 25 billion a year.
New research report “Assessment of Thailand's Rubber Industry 2016” worked out by Smart Research Insights offers a comprehensive discussion of a state of the Thai rubber marketplace. The study comprises valuable market statistics relative to product, consumption and export.
It limelights the challenges the marketplace has to overcome. The report focuses on the competitive situation in the global space and covers such players as Michelin, Top Glove Corporation Berhad, Sri Trang Agro-Industry Plc., and more. Future outlook for this marketplace can be found in the research study, too.
More new reports by Smart Research Insights are available at its page.