Albany, NY -- (SBWIRE) -- 09/26/2012 -- Ribbed smoke sheet is a natural rubber in the form of a sheet which is used in various industries owing to its properties like tear strength and cleanliness. The main reason the rubber sheet is smoked is to improve its tensile strength.
The ribbed smoke sheet market suffered a setback during 2008 – 2009 when the global economy was under pressure, but since then the global ribbed smoke market is growing at a healthy pace. The major factors which are contributing to the continuous growth of the market include the growth of the global automotives market which in turn is increasing the market for tires globally. Tires represent one of the major applications of ribbed smoke sheets. The global tires market both new (OEM) tires and replacement tires are growing at a healthy pace mainly after 2009.
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Asia Pacific is the fastest growing market for ribbed smoke sheets owing to strong demand from emerging economies like China and India. The consumer spending in both these countries is increasing following which their GDP growth rate is well above the global GDP growth rate. So, huge opportunities lie in the Asia Pacific region for market players.
The global consumption of ribbed smoke sheet is expected to reach 5.5 million tons by 2018, owing to strong demand mainly in the Asia Pacific market. North America and Japan are fairly mature markets and are expected to grow at a sluggish rate while the European market is stagnant due to the prevailing economic conditions. However, Asia Pacific represents the largest market for ribbed smoke sheets. Along with being the largest market it is also the fastest growing market. China is the largest and the fastest growing market for ribbed smoke sheets and it is expected to continue its lead till 2018. China is a highly import dependent country with just 30% of the demand met through domestic production.
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