Natural Rubber Market Size, Share, Growth, and Industry Analysis, By Type (Ribbed Smoked Sheet (RSS), Technically Specified Rubber (TSR), Latex, and Others), By Application (Automotive, Medical, Industrial, and Consumer Goods), Regional Insights, and Forecast To 2032

Updated On: 08 July 2024

Natural Rubber Market REPORT OVERVIEW

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global natural rubber market size was USD 21410 million in 2020 and market is projected to touch USD 32108.03 million by 2032, at CAGR of 1.3% during the forecast period.

Natural rubber is an elastic substance made from the latex sap of trees. It is also referred to as gum rubber, caoutchouc, India rubber, and gum elastic. Rubber is prepared for use in commercial applications by purifying the latex. The method known as tapping is typically used to extract latex from trees in the ficus and hevea genera. Natural rubber is an elastomer, or elastic hydrocarbon polymer, with a high degree of elasticity.

The majority of goods that employ natural rubber are tires, crap tubes, roll covers, hoses, adhesives, and gaskets. Natural rubber is perfect for a variety of other applications since it has excellent tensile strength, resilience, rip resistance, and flexing properties even at low temperatures. The primary factor driving the natural rubber market's growth rate is the rising demand for goods made of natural rubber, such as condoms and latex gloves. Increased demand for naturally formed rubber goods brought on by a spike in crude oil prices will further open up profitable and rewarding growth prospects for the natural rubber market.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic caused temporary business closures, disruptions in the supply chain, and manufacturing delays. These events hindered the progress of telecom infrastructure development and negatively impacted the marketing and sales strategies of manufacturers of rugged phones that catered to the market for such products. Particularly for new and small- to medium-sized businesses in this industry, the repercussions were dire. To mitigate the negative effects on the market, companies did, however, reorganize themselves considerably in order to address supply chain issues and improve collaboration with suppliers and partners.

LATEST TRENDS

"Smart Features in Semiconductor Components to Drive Market Growth"

Due to advancements in technology and the shrinking of electrical devices, there is a growing global demand for chemicals used in semiconductor component cleaning. The industrial sector's shift in emphasis towards energy-efficient equipment is expected to result in a rise in the need for natural rubber throughout the projected period. Because they are easy to use and programmable, chemicals for cleaning semiconductor components are becoming more and more common. They differ from traditional electromechanical timers in that they also offer the possibility of accurate timekeeping. The growing public awareness of the benefits of these gadgets is another important factor that is anticipated to drive the natural rubber market growth.

Natural Rubber Market SEGMENTATION

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• By Type

Based on type the global market can be categorized into Ribbed Smoked Sheet (RSS), Technically Specified Rubber (TSR), Latex, and Others amongst which the leading segment is Ribbed Smoked Sheet (RSS).

After being treated from USS (unsmoked sheets), smoked rubber is used to create ribbed smoked sheets. In general, they are divided into five types based on color, elasticity, and purity. There are three primary standard forms of TSR (Technically Specified Rubber), also called block rubber in Thailand: STR10, STR20, and STR Compound. Tire manufacture is their primary application. An emulsion of polymer microparticles in water is called latex. Although they are popular, synthetic latexes are also present in nature. 10% of all flowering plants contain latex, which is a milky fluid in the natural world.

• By Application

Based on application the global market can be categorized into Automotive, Medical, Industrial, and Consumer Goods amongst which the automotive sector is anticipated to be the leading sector.

The design, development, production, marketing, selling, maintenance, repair, and customization of motor vehicles are all part of the broad spectrum of businesses and organizations that make up the automotive industry. In terms of revenue, it is among the biggest sectors in the world. The economic sectors that supply goods and services to treat patients with curative, preventative, rehabilitative, and palliative care are combined to form the healthcare industry. Unlike an intermediate item, which is used to generate additional things, a final good, also known as a consumer good, is a finished product that is ready for sale and is utilized by the consumer to satisfy current wants or requirements.

DRIVING FACTORS

"Increasing Demand for Latex Consumer Goods Boost the Market"

The main factor accelerating the growth rate of the natural rubber market is the rising demand for goods made of natural rubber, such as condoms and latex gloves. The market for natural rubber will see more profitable and rewarding growth prospects as a result of rising demand for natively made rubber products brought on by a spike in crude oil prices. The need for natural rubber will only expand as a result of growing industrialization and the boom in the automobile industry, which is driving up demand for natural rubber products. Growing use of natural rubber in the Asia-Pacific region will also have a significant impact on the growth of the natural rubber market.

"Augmented Customization Options to Expand the Market"

Due to its unique qualities, which include adherence to metal and resistance to abrasion, natural rubber is becoming more and more in demand for applications such as tires and seals. When it comes to huge building projects and the automotive sector, natural rubber is chosen over synthetic rubber due to its superior features like tear resistance, vibration dampening, and high tensile strength. The automobile parts sector is the greatest end user of rubber, using enormous amounts of the material annually to manufacture pipes, gaskets, car tires, hoses, and other parts.

RESTRAINING FACTORS

"High Rates of Raw Materials to Potentially Impede Market Growth"

However, the market for natural rubber will have less room to grow if alternatives like synthetic rubber are readily available. Another factor limiting the expansion of the natural rubber market will be currency rate changes. The market growth rate will also be derailed by high raw material prices. Excessive acidity, ozone, oils, greases, and fats can harm natural rubber, which can limit its growth potential.

Natural Rubber Market REGIONAL INSIGHTS

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"Asia Pacific Region Dominating the Market due to Presence of a Large Consumer Base"

The natural rubber market is dominated by Asia-Pacific, and this pattern of dominance is expected to continue over the forecast period, with Thailand, Indonesia, and Malaysia emerging as the main contributors. This is due to the fact that these nations are the world's main producers of natural rubber. The healthcare industry's increased use of natural rubber-based products, like medical gloves, will fuel the natural rubber market's expansion. The natural rubber market will see expansion due to the automotive industry's increasing need for the commodity.

KEY INDUSTRY PLAYERS

"Leading Players adopt Acquisition Strategies to Stay Competitive"

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Von Bundit (Thailand)
• Sri Trang Agro-Industry (Thailand)
• Southland Holding (U.S.)
• Thai Hua Rubber (Thailand)
• Vietnam Rubber Group (Vietnam)

INDUSTRIAL DEVELOPMENT

November 2022: The four largest tire manufacturers in India, Apollo Tyres, CEAT, JK Tyre, and MRF, promised to invest millions to expand rubber plantations in North East and West Bengal as part of a five-year initiative run by the Rubber Board and the Automotive Tyre Manufacturing Association (ATMA). Over 200,000 hectares of land in the states of Assam, West Bengal, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, and West Bengal are to be developed as part of the ATMA project.

REPORT COVERAGE

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.