Global Natural Rubber Market to Grow at 3.06% During 2024-2032, Impelled by Significant Growth of the Automotive Industry

According to the latest report by IMARC Group, titled “Natural Rubber Market Report by Type (RSS Grade, Latex Concentrate, Solid Block Rubber, and Others), Distribution Channel (Online, Offline), Application (Auto-Tire Sector, Gloves, Footwear, Latex Products, Conveyor Belts, and Others), and Region 2024-2032,” finds that the global natural rubber market is expected to grow at a CAGR of 3.06% during 2024-2032. Natural rubber is an elastic material obtained from the latex sap of genera Hevea and Ficus trees. The latex is vulcanized and finished into a variety of products meant for daily purposes. It is a hydrocarbon polymer that offers high tensile strength, vibration dampening, and tear resistance. Natural rubber is commonly used in manufacturing tires, crap tubes, adhesives, roll coverings, hoses, gaskets, gloves, belts, and catheters. Compared to traditional synthetic rubber, natural rubber does not contain petrochemicals, is non-sticky, and environment friendly in nature.

Global Natural Rubber Market Trends: 

The market is primarily driven by the significant growth of the automotive industry, which utilizes natural rubber for producing premium-quality tires, seat belts, airbags, floor mats, and brake hoses. The properties of natural rubber, such as adhesion to metals and resistance to abrasion, makes it suitable for the manufacturing of automotive components. In addition to this, natural rubber also finds application in the healthcare industry for producing rubber-based medical products, such as surgical gloves and condoms, which is fueling the market growth. Moreover, the demand for natural rubber has also escalated with the growing preference for casual, formal and protective footwear for adults and children with enhanced slip resistance, design flexibility, and durability. Furthermore, the integration of sustainable technology for sourcing natural rubber with minimal deforestation and wastage is creating a positive market outlook.

Market Summary: 

• Based on the type, the market has been segmented into RSS grade, latex concentrate, solid block rubber, and others.
• On the basis of the distribution channel, the market has been classified into online and offline channels.
• The market has been categorized based on the application into auto-tire sector, gloves, footwear, latex products, conveyor belts, and others.
• Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
• The competitive landscape of the market has been examined, with some of the key players being Apcotex Industries Limited, Bridgestone Corporation, Halcyon Agri Corporation Limited, Michelin Group, Sinochem Group, Southland Rubber Company Limited, Sri Trang Agro-Industry Plc, Thai Hua Rubber Public Company Limited, Thai Rubber Latex Group Public Company Limited, and Von Bundit Co. Limited.

Report Scope:

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