RUBBER MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Natural Rubber Market Analysis:

The Natural Rubber Market is projected to experience growth from USD 17.33 billion in 2023 to USD 21.80 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 4.70% during the forecast period (2023–2028).

Natural rubber is derived from the rubber tree (Hevea brasiliensis) and comprises organic polymer compounds, primarily harvested in the form of latex. Natural rubber is preferred over synthetic rubber due to its high tensile strength, vibration-dampening properties, and tear resistance, making it a crucial component in the construction and automobile industries. The expansion of the automobile market across countries is expected to increase the demand for natural rubber production. Additionally, the recent surge in demand for latex products, such as catheters, gloves, and belts, is also driving the global demand for natural rubber.

The Asia-Pacific region is the largest producer of natural rubber, accounting for over 90% of global production. Major rubber-producing countries include Thailand, Vietnam, Indonesia, China, and India. In addition to production, the Asia-Pacific region is also the largest consumer of natural rubber globally, owing to the presence of major manufacturing countries such as China and India. For example, China is the world’s largest importer and consumer of natural rubber, consuming approximately 40.0% of the total global output annually. As one of the world’s three major automobile manufacturers, China’s increasing growth in the automobile industry has resulted in a surge in demand for raw materials, such as natural rubber, in recent years. Therefore, the rising demand for latex products, coupled with the growing global automobile and construction industry, is expected to be one of the primary factors driving the natural rubber market in the coming years.

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