Natural Rubber Market Size to Boost US$21.4 billion by 2027 | CAGR 6.2% - IndustryARC
Growing Production of Automotive this will boost Global Natural Rubber industry growth.
HYDERABAD, TELANGANA, INDIA, January 24, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Natural Rubber Market size is estimated to reach US$21.4 billion by 2027 after growing at a CAGR of around 6.2% from 2022 to 2027. Natural rubber is a type of rubber which is extracted from the latex of rubber tree and consists of organic compound like isoprene, which is classified as elastomers. Such polymer has high elasticity, flexibility, resistance to water, abrasion and electricity. It has various applications across automotive & aircraft tyres, shock absorbers, adhesives, cement, friction tapes and insulation materials. Hence, due to such high applicability, natural rubber is used in sectors like automotive, construction, aerospace, textile & footwear, medical and oil industry. Factors like growing production of automotive, increase in construction activities, high consumption of footwear and increase in aircraft production are driving Natural Rubber Markett growth. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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This IndustryARC report on the Natural Rubber Market highlights the following areas -
1. Asia-Pacific dominates global natural rubber industry as the region consists of major natural rubber producing countries like Thailand, Malaysia and Indonesia along with countries like China & India which are major users of natural rubber.
2. Natural rubber derived from latex of rubber tree is an excellent insulator due to which it is also used to manufacture handle covers of different tools and equipment used in industries and households.
3. The relative gas impermeably of natural rubber polymer makes it useful in the manufacturing of articles such as air hoses and shock absorbers for specialized machinery designed to reduce vibration.
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1. Technically specified rubber held a significant share in Natural Rubber Market in 2021 with a share of over 36%. Technically specified rubber is light and soft rubber derived from latex of rubber tree and have rich chemical properties. Such rubber is majorly used for making automotive & aircraft tires and construction cement.
2. Asia-Pacific held the largest share in Natural Rubber Market in 2021 with a share of over 35%. The region consists of major end user countries of natural rubber such as China and India as such economies have well established automotive, footwear and construction sector. Hence the economic development in these nations has increased their industrial level of production and consumption.
3. According to European Automobile Manufacturer Association, in March 2021, new passenger car registration in EU increased by 87.3% with 1,062,446 new cars being sold, compared to 567,253 sold during the same month in 2020.
4. Natural rubber polymer has high elasticity, flexibility and resistance to abrasion makes it an efficient raw material for making automotive tires, floor mat, window sealants and shock absorbers. The increase in production volume of automotive on account of growing advancements and high demand for passenger vehicles, has positively impacted the usage of natural rubber in automotive industry.
5. Natural rubber processing consumes large volume of water, energy and chemicals which when discharges as waste and effluents creates environmental issues like wastewater containing chemicals and thermal emission. Such negative effects of natural rubber on health and environment can limit the its production volume.
The top 5 players in the Natural Rubber Industry are -
1. Sinochem Corporation
2. Sri Tang-Agro Industry
3. China Hainan Rubber
4. Von Bundit
5. Thai Rubber Latex Group
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