Before 2003, synthetic rubber products had always been the material with tight supply-demand relationship and good economic benefits. The relevant departments of the state encouraged domestic enterprises to vigorously develop the synthetic rubber industry through various ways. Since then, production capacity has blowout growth.
Relevant statistics show that during the 12th Five-Year Plan period, China's synthetic rubber production capacity increased from 2825,000 tons per year in 2010 to 5956,000 tons per year at the end of 2015, with an average annual growth rate of 16.1%. However, in the first two years of the 13th Five-Year Plan, the growth rate of production capacity slowed down significantly, with a capacity of 6.083 million tons per year at the end of 2017.
Although the growth rate of synthetic rubber production has slowed down in recent years, the homogenization of products is still serious, resulting in the intensification of disordered competition among enterprises.