According to the International Rubber Research Organization (IRSG), global demand for natural and synthetic rubber in 2013 may increase by 4% to 27.7 million tons from the previous year, as consumers begin to replenish their inventory. The IRSG's estimate is based on the International Monetary Fund’s forecast of a 3.9% global economic growth next year. The agency predicts that global rubber consumption in 2012 will be 26.6 million tons, which is lower than the previously estimated 26.8 million tons, but higher than the 2011 consumption of 25.9 million tons.
The IRSG is responsible for compiling data and publishing estimates of global rubber demand and supply, with 35 member states. The agency expects that China's rubber demand will increase by 4.6% next year, continuing the increase this year. China is the world's largest consumer of rubber, accounting for about 30% of the world's natural and synthetic rubber output. According to the latest IRSG estimate, China will consume 8.7 million tons of rubber in 2012, slightly higher than last year's 8.3 million tons. Global rubber production this year is expected to rise to 11.3 million tons, slightly higher than last year's 11 million tons.
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