Global Natural Rubber Market Insights Forecasts to 2032
- The Global Natural Rubber Market Size was valued at USD 16.5 Billion in 2022.
- The Market is growing at a CAGR of 4.3% from 2022 to 2032.
- The Worldwide Natural Rubber Market is expected to reach USD 25.2 Billion by 2032.
- Asia Pacific is expected to grow the fastest during the forecast period
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The Global Natural Rubber Market Size is expected to reach USD 25.2 Billion by 2032, at a CAGR of 4.3% during the forecast period 2022 to 2032.
Natural rubber is an organic elastic hydrocarbon polymer derived from the latex sap of trees in the Hevea and Ficus genera. Latex is extracted from the trunks of trees and normally processed into vulcanized, gum elastic, and caoutchouc rubber variants. Natural rubber is used to make a wide range of products, including automobile tires, toys, rug pads, surgical gloves, floatation devices, tubes, adhesives, roll coverings, hoses, and gaskets. It has several beneficial properties, including high resiliency, vibration dampening, tensile strength, tear and water resistance, and low-temperature stretching capacity. Natural rubber, as opposed to synthetic rubber, contains no petrochemicals and is non-sticky and environmentally friendly.
Global Natural Rubber Market Report Coverage
|Market Size in 2022:||USD 16.5 Bn|
|Forecast Period:||2022 – 2032|
|Forecast Period 2022 – 2032 CAGR:||4.3%|
|022 – 2032 Value Projection:||USD 25.2 Bn|
|Historical Data for:||2020-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||150|
|Segments covered:||By Grade, By Application, By End-use and By Region.|
|Companies Covered:||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 Others.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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Growing production of automobiles are driving the global natural rubber market during the forecast period. Natural rubber polymer is an effective raw material for making automotive tires, floor mats, window sealants, and shock absorbers due to its high elasticity, flexibility, and abrasion resistance. The increase in automotive production volume as a result of innovations in technology and high consumer demand for passenger vehicles has positively impacted the use of natural rubber in the automotive industry. Increased global passenger vehicle production volume will increase the use of natural rubber polymer in the manufacture of tires and other automotive accessories. This will boost the growth of the natural rubber market. Moreover, there is a rise in construction activities. Natural rubber polymer made up of isoprene compounds is used to make bonding agents that are mixed with cement to repair concrete and plastered surfaces.
There is the negative impact of natural rubber on health and the environment which is restraining global natural rubber market growth during the forecast period. Natural rubber is harmful to people who are allergic to latex. Natural latex can cause anaphylactic shock, a severe allergic reaction that can result in death. As a result, in addition to the health impact, natural rubber processing consumes a large amount of water, energy, and chemicals, which when discharged as waste and effluents cause environmental issues such as chemical-containing wastewater and thermal emission. Natural rubber's negative effects on health and the environment may limit its production volume. This could stifle the growth of the global natural rubber industry.
By Grade Insights
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 that is derived from the latex of the rubber tree and has a wide range of chemical properties. This type of rubber is primarily used in the manufacture of automobile and aircraft tires, as well as construction cement. Rapid development in these industries has boosted the use of natural rubber in them. Increased demand for natural rubber in the automotive, aerospace, and construction sectors will result in positive growth of the global natural rubber industry.
By Application Insights
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 manufactures footwear that includes formal and casual footwear to technical products such as safety and protective footwear using a wide range of materials. Durability, slip resistance, oil resistance, abrasion resistance, tensile resistance, the ability to be molded into various shapes, and tear strength resistance are all physical properties required for the manufacture of shoe soles. Increased footwear production to meet a wide range of customer preferences may boost natural rubber market growth during the forecast period.
By End-use Insights
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 with an isoprene compound has high elasticity and can be molded into various shapes and sizes. As a result of its high elasticity and flexibility, natural rubber is used to manufacture tires for various vehicle types, including passenger and light commercial vehicles. Aside from tires, natural rubber is also used to make window sealant, automotive mats, engine mounts, and wiper blades. Growing automotive improvements and high demand for new vehicles have increased the automotive sector's productivity.
Asia Pacific dominates the market with the largest market share of more than 35.8% over the forecast period.
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Asia Pacific is dominating the largest market share over the forecast period. During the forecast period, the region includes major natural rubber end-user countries such as China and India, which have well-established automotive, footwear, and construction sectors. As a result, economic development in these countries has increased industrial production and consumption. Increased demand for natural rubber in the automotive, footwear, and construction industries will necessitate greater use of natural rubber in the production of automotive tires, cement, and shoe soles. This will help to grow the global natural rubber market during the forecast period.
List of Key Market Players
- 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
Key Market 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.
- In November 2021, Valley Rubber, a manufacturer of custom rubber solutions for tough mining and industrial applications, was acquired by GRT Rubber Technologies, a leading manufacturer of engineered rubber.
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
Natural Rubber Market, Application Analysis
- Automotive Components
- Surgical Gloves
- Conveyor Belts
- Latex Products
- Rubber Pipes
- General products
Natural Rubber Market, End-use Analysis
- Electronic & Electrical
- Oil & Gas
Natural Rubber Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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