Characteristics of the Rubber Products Industry’s Development

2021-11-12

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① China’s rubber products industry as a whole continues to maintain a healthy growth trajectory.

According to statistics from the China Rubber Industry Association, from 2016 to 2020, the revenue of the association’s key member enterprises increased from RMB 293.583 billion to RMB 352.247 billion, reflecting a compound annual growth rate of 4.66%; their industrial output value at current prices rose from RMB 311.504 billion to RMB 350.155 billion, with a compound annual growth rate of 2.97%; export delivery value climbed from RMB 90.493 billion to RMB 101.533 billion, at a compound annual growth rate of 2.92%; and profits expanded from RMB 14.006 billion to RMB 22.452 billion, posting a compound annual growth rate of 12.52%. These trends underscore the overall stability of China’s rubber products industry. In 2020, the sector’s profits continued to grow substantially year on year, with steadily improving profitability and enhanced development quality.

② China’s rubber products are primarily export-oriented, and high-end products still need to be imported.

In terms of product exports, China’s rubber products industry has experienced rapid growth in recent years. In addition to meeting domestic demand, the sector has increasingly aligned with cutting-edge international technologies, enabling it to actively engage in global market competition and cooperation. According to statistics from the General Administration of Customs of China, China’s rubber products exports totaled US$27.66 billion in 2022. Over the past few years, export values have remained relatively stable, hovering around US$20 billion; however, in 2021 and 2022, rubber product exports recorded notably faster growth.

In terms of product imports, in recent years, as some domestic rubber‑product manufacturers have continuously invested in R&D and translated technological advances into commercial applications, they have gradually entered the high‑end segment. Leveraging their technological edge and localization advantages, they have steadily eroded the market share of international giants, thereby raising China’s self‑sufficiency rate in high‑end rubber products. Overall, from 2014 to 2022, China’s total rubber‑product import value followed a trend of initial decline followed by stabilization. According to data from the General Administration of Customs of China, China’s rubber‑product imports totaled US$5.05 billion in 2022, with import values remaining around US$5 billion in recent years.

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