New York, United States, Jan. 16, 2024 (GLOBE NEWSWIRE) -- The Global Natural Rubber Market Size is to Grow from USD 16.5 Billion in 2022 to USD 25.2 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.3% during the projected period. Natural rubber is an organic elastic hydrocarbon polymer derived from the latex sap of trees in the Hevea and Ficus genera.
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Natural rubber, also known as elastomer, is a type of rubber made from the isoprene-containing latex of the rubber tree. Latex is typically extracted from tree trunks and processed into vulcanized, gum elastic, and caoutchouc rubber variants. Automobile tires, toys, rug pads, surgical gloves, floatation devices, tubes, adhesives, roll coverings, hoses, and gaskets are all made from natural rubber. It has several advantageous properties, such as high resiliency, vibration dampening, tensile strength, tear- and water resistance, and low-temperature stretching capacity. Increasing automotive production will drive the global natural rubber market during the forecast period. Because of its high elasticity, flexibility, and abrasion resistance, natural rubber polymer is an effective raw material for manufacturing automotive tires, floor mats, window sealants, and shock absorbers. The increased volume of automotive production as a result of technological innovations and high consumer demand for passenger vehicles has had a positive impact on the use of natural rubber in the automotive industry. Increased global passenger vehicle production volume will increase the use of natural rubber polymer in tire and other automotive accessory manufacturing. This will help the natural rubber market grow.
COVID-19 Impact
Because of its rich chemical properties and high elasticity, natural rubber is widely used in industries such as automotive, construction, and footwear. It is used in the automotive industry to make tires and rubber mats, in the construction industry to make cement and adhesives, and in the footwear industry to make shoe soles. The global lockdown enacted to mitigate the effects of COVID-19 resulted in lower levels of manufacturing and consumption among natural rubber's major end-users.
Browse key industry insights spread across 200 pages with 150 market data tables and figures & charts from the report on "Global Natural Rubber Market Size, Share, and COVID-19 Impact Analysis, By Grade (Technically Specified, Ribbed Smoked Sheets, Thick Pale Creep, Others), By Application (Automotive Components, Surgical Gloves, Conveyor Belts, Footwear, Latex Products, Rubber Pipes, General Products, Others), By End-use (Automotive, Construction, Aerospace, Medical, Electronic & Electrical, Footwear, Printing, Oil & Gas, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The technically specified segment dominates the market with the largest revenue share of more than 36.8% over the forecast period.
Based on grade, the global natural rubber market is segmented into technically specified, ribbed smoked sheets, thick pale creep, and others. Among these, the technically specified segment is dominating the market with the largest revenue share of more than 36.8% over the forecast period. Rubber is a light and soft rubber derived from the latex of the rubber tree, with a diverse range of chemical properties. This type of rubber is primarily used in the production of automobile and aircraft tires, as well as building cement. The use of natural rubber in these industries has increased due to its rapid growth.
The footwear segment is projected to grow at the highest CAGR in the market during the forecast period.
Based on application, the global natural rubber market is segmented into automotive components, surgical gloves, conveyor belts, footwear, latex products, rubber pipes, general products, and others. Among these, the footwear segment grows at the highest CAGR growth over the forecast period. The segment produces footwear ranging from formal and casual footwear to technical products such as safety and protective footwear made from a variety of materials. Physical properties required for the manufacture of shoe soles include durability, slip resistance, oil resistance, abrasion resistance, tensile resistance, the ability to be molded into various shapes, and tear strength resistance.
The automotive segment is expected to hold the rapid revenue growth of the global natural rubber market during the forecast period.
Based on end-use, the global natural rubber market is classified into automotive, construction, aerospace, medical, electronic & electrical, footwear, printing, oil & gas, and others. Among these, the automotive segment is expected to grow at a rapid pace during the forecast period. Natural rubber containing an isoprene compound has a high elasticity and can be molded into a variety of shapes and sizes. Natural rubber is used to make tires for a variety of vehicle types, including passenger and light commercial vehicles, due to its high elasticity and flexibility. Natural rubber is used to make window sealant, automotive mats, engine mounts, and wiper blades in addition to tires.
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Asia Pacific dominates the market with the largest market share of more than 35.8 over the forecast period.
Asia Pacific will hold the largest market share over the forecast period. The region includes major natural rubber end-user countries such as China and India during the forecast period, which have widely recognized automotive, footwear, and construction sectors. As a result, these countries' economic development has increased industrial manufacturing and consumer spending. Increased demand for natural rubber in the automotive, footwear, and construction industries will necessitate increased use of natural rubber in automotive tires, cement, and shoe soles. During the forecast period, this will contribute to the growth of the global natural rubber market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Natural Rubber Market include Coloplast A/S, Sinochem Corporation, China Hainan Rubber, Von Bundit, Thai Rubber Latex Group, Hanna Rubber Company, American Phoenix Inc., Cooper Standard ISG, Halcyon Agri Corporation Limited, Southland Rubber Group, and among others.
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Recent Developments
- In April 2022, The Goodyear Tire & Rubber Company today announced a multi-year, multi-million-dollar program with Ohio-based Farmed Materials to develop a domestic source of natural rubber from a specific species of dandelion, with funding from the United States Department of Defense (DoD), the Air Force Research Lab (AFRL), and BioMADE.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the global natural rubber market based on the below-mentioned segments:
Natural Rubber Market, Grade Analysis
- Technically Specified
- Ribbed Smoked Sheets
- Thick Pale Creep
- Others
Natural Rubber Market, Application Analysis
- Automotive Components
- Surgical Gloves
- Conveyor Belts
- Footwear
- Latex Products
- Rubber Pipes
- General products
- Others
Natural Rubber Market, End-use Analysis
- Automotive
- Construction
- Aerospace
- Medical
- Electronic & Electrical
- Footwear
- Printing
- Oil & Gas
- Others
Natural Rubber Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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