Global Natural Rubber Market Report and Forecast 2023-2028

Global Natural Rubber Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global natural rubber market reached a value of USD 30.61 billion in 2022. Aided by the growing demand in various sectors such as automotive, footwear, and healthcare, the market is projected to further grow at a CAGR of 3.5% between 2023 and 2028 to reach a value of USD 37.63 billion by 2028.

Natural rubber, harvested primarily from the latex of rubber trees, is a biodegradable and renewable resource. It is highly valued for its resilience, elasticity, and excellent tensile strength, making it a critical material for a wide range of industries.

The automotive sector is a central consumer of natural rubber, predominantly in tire production. Tires made with natural rubber are renowned for their durability and grip, which are vital for vehicle safety. As global vehicle ownership rises, driven by increased income levels particularly in emerging economies, the demand for tires, and consequently natural rubber, is expected to grow steadily. Over the forecast period, the anticipated increase in sale of electric vehicles is likely to boost the natural rubber market size.

Natural rubber’s resistance to wear and tear, coupled with its flexibility, makes it an ideal material for various industrial applications, including conveyor belts, hoses, and seals. Its exceptional damping properties make it essential in anti-vibration mountings for machinery, thereby playing a vital role in modern manufacturing operations.

Healthcare sector is generating a heightened natural rubber market demand. Natural rubber is a key material for the production of latex gloves, catheters, and other medical devices. The COVID-19 pandemic highlighted the critical role of natural rubber as demand for personal protective equipment surged globally, reflecting the material’s significance in times of crisis.

The Asia Pacific region, led by Thailand, Indonesia, and Vietnam, dominates the natural rubber production landscape. The region’s tropical climate is conducive to rubber tree cultivation, accounting for the majority of the world’s natural rubber supply. Africa and Latin America are also notable players, with countries like Côte d'Ivoire and Brazil making substantial contributions to global output.

Looking ahead, the natural rubber market growth is likely to reach new heights. Despite challenges related to sustainability and competition from synthetic alternatives, natural rubber’s unique properties ensure its continued relevance across a variety of sectors.

Market Segmentation

The market can be divided based on type, application, and region.

Market Breakup by Type

• RSS Grade
• Latex Concentrate
• Solid Block Rubber
• Others

Market Breakup by Application

• Tyres and Related Products
• Latex Products
• Footwear
• Non-Automotive
• Engineering
• Belting and Hose
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global natural rubber market. Some of the major players explored in the report by Expert Market Research are as follows:

• Sri Trang Agro-Industry Public Company Limited
• Halcyon Agri Corporation Limited
• Thai Rubber Latex Group Public Company Limited
• Southland Holding Company
• Titi Latex Sdn Bhd
• KL-Kepong Rubber Products Sdn
• Von Bundit Co., Ltd.
• Sinochem International Corporation
• WEBER & SCHAER GmbH & Co. KG
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.