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San Francisco, CA (PRWEB) January 09, 2013
The Synthetic Rubber Manufacturing industry in China is estimated to generate of $15.9 billion in 2012, says IBISWorld. Over the past five years, revenue has been growing strongly at an annualized rate of 27.1%, largely due to the rapid development of the downstream Automobile Manufacturing industry, a key consumer of synthetic rubber tires.
The top four synthetic rubber manufacturers in China China Petrochemical Corporation, China National Petroleum Corporation Shenhua Chemical Industrial Group and Shandong Yuhuang Chemical generate 57.4% of industry revenue in 2012, indicating a medium concentration level within the Synthetic Rubber Manufacturing industry in China. As competition among industry participants heats up, IBISWorld anticipates that the level of market share concentration will rise. Increasing competition is the result of rising environmental protection standards and the entry of foreign companies into the China market.
The steady growth of the Automobile Manufacturing industry in China will continue to support demand for the Synthetic Rubber Manufacturing industry in China, says IBISWorld, with higher environmental standards for tire exports spurring demand for high-end synthetic rubber in particular.