Natural Rubber Market Share to Grow at a CAGR of 4.8% in the Forecast Period of 2023-2028
The ‘Global Natural Rubber Market Price, Trends, Size, Share Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global natural rubber market, assessing the market on the basis of its segments like application and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 4.8%
The global natural rubber market is expected to register growth during the forecast period on account of the surging demand for natural rubber for various applications. This is due to its distinctive qualities, such as metal adhesion and abrasion resistance, which make it useful for producing tyres and seals, among others.
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Natural rubber has properties like vibration dampening, tear resistance, and high tensile strength which are positively influencing consumers to prefer natural rubber over synthetic rubber for its application in the automobile industry as well as in larger constructions. This is expected to enhance the market demand for natural rubber over the coming years.
With the growing automotive parts industry, the natural rubber market demand is likely to increase due to the extensive usage of rubber in the manufacturing of automotive parts including gaskets, pipes, hoses, and car tyres, among other. Moreover, the increasing per capita income among customers along with increased availability is surging the demand for automobiles in emerging economies.
Natural rubber is an elastic material made from the latex sap produced by certain trees, such as Ficus and Hevea genera trees. It is available in the form of an elastomer or an elastic hydrocarbon polymer and can be further vulcanised to increase its applications. Natural rubber is used in medical devices, aircraft and car tires, surgical gloves, clothes, pacifiers, and toys, among others.
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Based on application, the market is classified into:
• Tyres and Related Products
• Latex Products
• Footwear
• Non-Automotive
• Engineering
• Belting and Hose
• Others
On the basis of region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Europe
• Middle East and Africa
The increasing demand for rubber in the footwear industry is one of the major aspects contributing to the rise in market demand for natural rubber across the globe. The incorporation of natural rubber in footwear provides protection from chemicals, water, impact, low temperatures, and electricity. Also, it is employed in a range of consumer products, like mats and protective covers, among others. This is further expected to boost the natural rubber market growth across the globe over the forecast period.
Geographically, the Asia Pacific is anticipated to drive the natural rubber market growth on account of the high production of natural rubber, especially in Southeast Asia. Countries like Vietnam, Malaysia, Indonesia, and Thailand hold a significant market share of worldwide production due to broad rubber plantations which thrive in the local climatic conditions.
The growing automotive industry in the Asia Pacific along with the increasing demand for natural rubber as a raw material for various products is further expected to fuel the market growth of natural rubber in the region. China is a significant consuming country for natural rubber globally with significant imports to meet its domestic consumption needs.
The major players in the global natural rubber market report are:
Sri Trang Agro-Industry Public Company Limited
Thai Rubber Latex Group Public Company Limited
Von Bundit Co., Ltd.
Halcyon Agri Corporation Limited
Southland Rubber Group
Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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