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The rubber industry is optimistic about the overall economic operation
In 2008, the Chinese synthetic rubber industry experienced a significant milestone as part of the "Eleventh Five-Year Plan," marking the first major wave of new plant construction. Several key projects were expected to be completed and operational within the year. These included a 100,000-ton styrene-butadiene rubber (SBR) facility in Lanzhou, a 50,000-ton SBR plant in Huizhou Firestone, a 100,000-ton thermoplastic styrene-butadiene rubber (SBS) unit by Li Changrong, and a 20,000-ton SEBS and 50,000-ton butadiene rubber project in Taizhou Nantong. Altogether, over 320,000 tons of new synthetic rubber capacity was anticipated to come online.
However, with this surge in production capacity, there was concern that the domestic market might not be able to absorb the increased supply. To address this, proactive strategies were needed, such as import substitution—targeting both general trade and processing trade imports. At the same time, efforts to expand export markets and establish efficient export mechanisms became crucial to promote Chinese synthetic rubber products globally.
In addition to SBR and SBS, other synthetic rubber projects like neoprene and ethylene propylene rubber were also expected to complete their construction and begin operations in 2008.
Turning to the tire industry, 2008 saw a forecasted output of 380 million tires, reflecting a 15% increase from the previous year. Radial tires alone reached 290 million units, up by 25%. The sector reported a profit of approximately 5.3 billion yuan, with total profits and taxes reaching around 15.8 billion yuan. Export volumes and values were projected to grow by about 30% compared to 2007, with annual profits increasing by more than 50%. Export delivery value was also expected to rise by around 40%.
The tire market remained strong in 2007, with an estimated 25% growth in industrial output. Bicycle tire production increased by 15%, reaching about 200 million units, while motorcycle tire output rose by 20% to 110 million. In 2008, the industry continued its upward trend, with stable growth in bicycle tire production and no sharp declines expected.
Conveyor belt output reached 190 million square meters, V-belt production exceeded 1.3 billion meters, and hose production hit 560 million meters. The hose tape industry focused on improving resource efficiency, energy conservation, emissions reduction, and developing a circular economy as part of its technological advancements. This helped optimize product design and compound formulas, aiming for maximum economic and social benefits with minimal environmental impact.
Meanwhile, the latex industry faced challenging conditions in 2008 due to export tax rebate adjustments, the renminbi's appreciation, and stricter energy and emission regulations. Despite these challenges, demand for latex products at home and abroad continued to rise, and the government's enhanced oversight helped maintain orderly market competition. The industry was expected to grow between 7% and 10% that year.
Carbon black production in 2007 showed steady and rapid growth, with national output estimated at 2.15 million tons—a 16% increase from the previous year. Profitable companies were typically large-scale, technologically advanced, and well-managed, accounting for over 50% of the industry’s total profits. Total profits in 2007 reached about 450 million yuan, up 60% from the prior year. In 2008, carbon black production and sales were expected to continue growing rapidly, with a focus on optimizing coal tar utilization and exploring new raw material sources. Companies were advised to invest cautiously to avoid overcapacity.
In the waste rubber recycling sector, 2008 saw increased regional and corporate concentration. As production costs for reclaimed rubber rose, smaller firms struggled and were likely to be weeded out by the market, preventing oversupply. Excessive investment had led to fierce competition, and the slowdown in tire production affected the demand for recycled rubber. It was expected that the production of recycled rubber (including rubber powder) would grow by about 10%, reaching approximately 2.4 million tons.