Global Natural Rubber Growth Rate May Decline Due To COVID-19 In 2020

- Jul 21, 2020-

The new crown pneumonia epidemic broke out in China at the end of January 2020. At present, the domestic epidemic has been effectively controlled, but the overseas epidemic situation is extremely severe. Affected by the COVID-19 epidemic, the growth rate of global natural rubber production is declining. In response to the current epidemic, the Association of Natural Rubber Producing Countries (ANRPC) may increase the output of natural rubber to 14.2 million tons in 2020, a growth rate of 2.7%, which is lower than the 14.3 million tons estimated at the end of January.


The total mature area of natural rubber in ANRPC member countries is expanding, but the growth rate of natural rubber demand may decline. In the latest ANRPC forecast, global natural rubber consumption is expected to increase by 1.2% to 13.8 million tons in 2020, which is lower than the previously expected 2.7% . In the first two months of 2020, due to the severe impact of the new crown pneumonia epidemic in China's manufacturing industry, the low operating rate of downstream enterprises, the consumption of natural rubber plummeted, and the consumption of natural rubber in the world fell by 18.6% in the first two months.


Combined with the current development trend of overseas epidemics, the growth rate of global natural rubber production and consumption may continue to decline.