China is already the world's largest consumer of natural rubber, but its self-sufficiency rate of less than 30% has actually broken the safety guarantee line. After China has experienced an explosion in international iron ore and international oil prices, it should strengthen its crisis awareness of international raw materials, including natural rubber, to ensure industrial safety.
Vietnam News Agency reported that the Association of Natural Rubber Producers predicted that Vietnam’s natural rubber output will reach 955,000 tons this year, a year-on-year increase of 17.6%. Vietnam has replaced Malaysia as the world’s third largest rubber producer. At present, Vietnam mainly exports raw rubber, and rubber products (mainly tires) only account for 5% to 10% of the total output. However, it is expected that this ratio will change when new large factories are put into operation in the next few years. According to the Vietnam Rubber Association, from 2013 to 2014, Vietnam is expected to become one of the world's largest exporters of tires.
The International Rubber Research Group said last week that global demand for natural and synthetic rubber in 2013 may increase by 4% to 27.7 million tons from the previous year. The world's three largest rubber producers Thailand, Indonesia and Malaysia, China is the world's largest consumer of natural rubber and the sixth largest producer.
Since 1998, China's rubber self-sufficiency rate has been decreasing year by year. Data show that in 2004, China's natural rubber consumption was 1.8 million tons, but the country's output was only 570,000 tons, and the self-sufficiency rate was less than 1/3. Affected by the typhoon in 2005, the output of Hainan Province, the main rubber producing area, fell, and the self-sufficiency rate in 2005 was even lower than 30%. It is recognized in the industry that this is the most basic line of security.