Allied Market Research published a report, titled, “ Natural Rubber Market by Application (Tires, Medical Gloves, Tubes, Footwear, Straps, Rubber Covered Roller – MRO, Rubber Tiles, Molded Rubber Product, Bonding Gum Compound, Conveyors Belts, Extruded Products, Rubberized Coir Product, Rubber Bands, Latex Adhesives, Balloons, Rubber Lining, Latex Foam, Latex Thread, Condoms, And Industrial Gloves) by Region (North America, Europe, Asia-Pacific, Latin America, West Africa, and Rest Of the World): Opportunity Analysis and Industry Forecast, 2024-2034”. According to the report, the natural rubber market size was valued at $27.6 billion in 2021, and is projected to reach $46.8 billion by 2034, registering a CAGR of 4.2% from 2024 to 2034. 

Prime determinants of natural rubber market growth  

The shift toward sustainable and eco-friendly materials drives the demand for natural rubber across various industries. Natural rubber, a biodegradable and renewable material, aligns perfectly with sustainable trends which offer an eco-friendly alternative to synthetic rubber. The push for sustainability is evident in sectors such as automotive, construction, and consumer goods, where companies actively seek to enhance their environmental profiles by incorporating natural materials into their products. All these factors are expected to drive the growth of the natural rubber market during the forecast period. 

 

 

Tires segment maintains its dominance by 2034 

By application, tires segment accounted for less than two-thirds of natural rubber market share in 2021 and is expected to maintain its dominance during the forecast period. Natural rubber plays a critical role in tire manufacturing due to its unique properties such as high elasticity, durability, and resistance to abrasion. In tires, natural rubber is primarily used in the treads and sidewalls, where its flexibility helps absorb shocks and enhance grip, especially in heavy-duty and off-road vehicles. Its resilience allows tires to maintain traction and withstand deformation under various road conditions, improving safety and performance. In addition, its ability to resist heat build-up during friction makes it an essential component for ensuring tire longevity and fuel efficiency. Its sustainable origin further adds to its value in the automotive industry, aligning with increasing environmental concerns. 

Asia-Pacific its dominance throughout the forecast period 

Based on region, the Asia-Pacific segment accounted for more than two-thirds of the natural rubber market share in 2021 and is expected to maintain its dominance during the forecast period. Demand from both domestic and international markets fuels the growth of natural rubber production in the Asia-Pacific region. Major industries, particularly automotive manufacturing, heavily rely on natural rubber for tire production, as well as other essential components such as seals and belts. With the Asia-Pacific region emerging as a significant hub for automotive and industrial manufacturing, local demand for natural rubber continues to increase. 

Leading Market Players: - 

  • Sri Trang Agro-Industry Plc 

  • THAI HUA RUBBER PUBLIC COMPANY LIMITED 

  • Southland Holding Company 

  • Sinochem Holdings Corporation Ltd 

  • Bridgestone Corporation 

  • Von Bundit Co., Ltd. 

  • Truco 

  • THAI RUBBER LATEX GROUP PUBLIC COMPANY LIMITED 

  • Pro Star Rubber Co., Ltd 

  • Num Rubber and Latex Co., Ltd. 

The report provides a detailed analysis of these key players in the natural rubber market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.