China Rubber Industry Association Rubber Materials Committee is scheduled to hold ‘2024 (21st) China Rubber Materials Summit Forum and Rubber Materials Committee Member Meeting’ on 19~21 November 2024 in Guiyang, with the theme of ‘New Pattern, New Opportunities, New Challenges.
In 2024, the global economy has entered a new stage of development, and the global economic pattern and the supply and demand pattern of the natural rubber market are experiencing profound changes. Against this backdrop, the rising prices of natural rubber and synthetic rubber, the response to EUDR regulations, and the future direction of the rubber industry are filled with a series of new challenges and opportunities.
On the supply side, the natural rubber market in 2024 showed a trend of reduced output and stronger growth in demand. this change in supply and demand pattern is mainly due to the long-term impact of the age of trees and alternative crops, and the short-term impact of abnormal weather and other factors, in particular, the alternating impact of El Niño and La Niña since the end of 2023 led to low output of rubber raw materials. frequent rainfall in the second half of 2024 made it difficult for the cutting of rubber on the one hand, and the cutting of rubber on the other hand. Frequent rainfall in the second half of 2024, on the one hand, made it difficult to cut the rubber, on the other hand, led to the early and extensive occurrence of defoliation disease in Yunnan producing areas, especially since September, Typhoon ‘Capricorn’ had a significant impact on the main producing areas, which further delayed the raw material uploading expectations.
At the same time, this year, the synthetic rubber market is also due to rising raw material prices, as well as the linkage effect of natural rubber prices, resulting in synthetic rubber also showed a trend of rising prices.
The downstream demand side of the demand for natural rubber and synthetic rubber to maintain stable growth. The rapid development of China's automobile manufacturing industry, especially new energy vehicles, as well as the high start-up rate of the domestic LTR tyre industry, further increased the demand for rubber raw materials. The continuous growth of tyre exports also injected new vitality into the rubber market. However, the uncertainty of the global economic situation as well as the rise of trade protectionism and the response to EUDR regulations have also brought many challenges to the export of tyres.
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