The global Natural Rubber Market is expected to reach USD 33.87 Billion by 2028, according to a new report by Reports and Data. The growth of the market is attributed to the growing demand for natural rubber from end-use applications. Increasing demand for natural rubber in tire production is one of the significant factors influencing the market growth. The benefits of natural rubber comprises abrasion resistance and adhesion to metals, thereby making it suitable in making of seals, gaskets, and other products.
The Natural Rubber market has been growing steadily over the past decade and CAGR is expected to improve over the forecast period. It is also likely to be one of the industries influencing global revenue generation. Rapidly growing demand, an abundance of raw materials, population growth, financial stability, and product awareness are some of the factors that make progress directly and indirectly in the market.
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Key participants include Bridgestone, Michelin, Sinochem Group, Sri Trang Agro-Industry, Von Bundit, Halcyon Agri, Southland Rubber, Thaitex, Apcotex Industries Ltd., and Firestone Natural Rubber Company, among others.
Further key findings from the report suggest:
- Ribbed Smoked Sheets (RSS) are coagulated rubber sheets processed from fresh field latex sourced from well-managed rubber plantations adopting modern processing methods. Domestically produced RSS rubber grades are in good demand for tires and other product manufacture, indicating their quality and market acceptability.
- By distribution channel, the online distribution channel is projected to grow at a faster rate of 4.5% in the period 2020-2027, as this mode of distribution has the advantage of providing a broader exposure to the product produced by the manufacturers, especially with the proliferation of smart devices and internet connectivity.
- By application, footwear held a substantial market size in 2019 and is likely to grow at a rate of 2.4% in the forecast period
- The market in the Asia Pacific region dominated the market in 2019 and is projected to grow at a rate of 2.9% in the forecast period. The market dominance of the APAC region is attributed to the rapid urbanization, rise in the level of disposable income, and growth of the end-use industries, particularly the automotive and footwear industry.
The report also implements primary and secondary research techniques for gathering the most crucial pieces of professional information, and applies a number of industry-best techniques upon the data for projecting the future state of the global Natural Rubber market. Based on current market development, the report includes an analysis of how activities such as mergers and shapes the market’s future.
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Product Type Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
- RSS Grade
- Latex Concentrate
- Solid Block
Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
Application Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
- Belting & Hose
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Regional Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
- North America
- Asia Pacific
- Latin America
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Objective of Studies:
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment by application, product type and sub-segments.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Natural Rubber market.
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