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Natural Rubber Market

Market Insights on Natural Rubber covering sales outlook, demand forecast & up-to-date key trends

Natural Rubber Market by Type, by End Use Industry, by Application & Region – Forecast 2023–2033

Natural Rubber Market Outlook 2023–2033

According to the Future Market Insights report, demand for natural rubber is projected to be valued at US$ 18,270.6 Mn in 2023 and is anticipated to grow at a CAGR of 5.4% during 2023-2033. Rising application coverage of natural rubber as an economic & lightweight material are driving the demand across diverse applications in the construction, automotive, textiles, pharmaceuticals, and defense sectors. By the end of the year 2033, consumption of natural rubber is projected to reach US$ 30,914.3 Mn in terms of value.

Market Size (2022)

US$ 17,334.6 Mn

Market Size 2023

US$ 18,270.6 Mn

Market Size 2033

US$ 30,914.3 Mn

Value CAGR (2023-2033)

5.4%

Natural rubber is a form of rubber that is made from the isoprene-containing latex of the rubber tree and is categorized as an elastomer. This type of polymer is very elastic, flexible, and impervious to water, abrasion, and electricity. It has numerous uses in insulating materials, adhesives, cement, friction tapes, shock absorbers, and tires for cars and aeroplanes. As a result of its several applications, this rubber is used in sectors like the automotive, construction, chemical, aerospace, food, textile & footwear, pharmaceutical & medicinal, and oil industries.

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Historic (2017-2022) Vs Forecast (2023-2033) Market Outlook for Global Natural Rubber

During the historical period of 2017-2022, the natural rubber market has witnessed a CAGR of 4.7% and top a valuation of US$ 17,334.6 Mn by the end of 2022. The global lockdown implemented to curb the effect of COVID-19 caused a decrease in production and consumption level in the major end-users of natural rubbers. However, as per the latest estimates by Future Market Insights, the future growth outlook for natural rubber is anticipated to remain around 5.4% from 2023 to 2033.

Growth in demand is attributed to the growth in various factors like increasing production of automobiles, rising in construction activities, high demand for footwear, and increase in aeroplanes production. Besides, natural rubber is a key raw material used in the manufacturing of a variety of end-use items such as medical equipment, industrial components, surgical gloves, vehicle tires, garments, pacifiers, toys, mattresses, and so on.

Irrespective of characteristic features and several applications, the market is expected to face certain challenges in the coming years, especially from its counterpart synthetic rubber. With rise in the application of synthetic rubber along with availability of various types of synthetic rubber, several end users are increasing their purchase quantity of synthetic rubber instead natural one. This is expected to remain a key challenge for the market over the forecast period.

Market Dynamics

“Growing production of automotive across the globe will drive the demand for natural rubber”

Natural rubber, which has excellent elasticity, flexibility, and resistance to abrasion, is a useful raw material for making vehicle tires, floor mats, window seals, and shock absorbers. Due to technological advancements and the high demand for passenger automobiles, there has been an increase in the volume of natural rubber used in the automotive industry.

For instance, according to the International Organization of Motor Vehicle Manufacturers, 57 million passenger vehicles will be produced worldwide in 2021, up from 55.9 million units in 2020. As the number of passenger vehicles manufactured globally rises, so will the use of natural rubber polymer in making tires and other automotive accessories. As a result, the natural rubber industry will prosper.

“Increasing adoption of natural rubber in construction materials to boost sales”

The growing global population and rapid rates of urbanization are driving the building and construction industry across the globe. Key players in these sectors also invest the research and development to improve the quality and reduce the cost of the materials. In view of this, natural rubber is proving worthy in the construction industry to provide strength and economic benefits.

For instance, cement is combined with bonding agents composed of natural rubber polymer and isoprene compounds while repairing concrete and plastered surfaces. Rapid growth in residential and commercial development brought on by the increased demand for housing units and infrastructural improvements is anticipated to boost the usage of natural rubber in the construction industry.

“Negative impact on health and environment may hamper the market growth”

Natural rubber is harmful to latex-allergic people. Natural latex can produce anaphylactic shock, a life-threatening allergic reaction. As a result, natural rubber production consumes a significant amount of water, energy, and chemicals, which, when released as waste and effluents, produce environmental issues such as chemical-containing wastewater and thermal emission.

Natural rubber's negative effects on human health and the environment may limit its use. This could slow the expansion of the global natural rubber business.

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Nikhil Kaitwade
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Segment-wise Analysis

Which application segment has high growth prospects for natural rubber?

“Footwear application of natural rubber to create lucrative growth prospects in the market”

Natural rubber is also quite popular in footwear applications. Using a variety of materials, the segment creates footwear ranging from formal, and casual footwear to technical products such as safety and protective footwear.

Natural rubber has a variety of physical properties that are necessary for the manufacture of shoe soles, including durability, slip resistance, oil resistance, abrasion resistance, and tensile resistance, the ability to be molded into various shapes, and tear strength resistance. Rise in footwear production to accommodate a diverse variety of customer tastes may boost natural rubber sector growth throughout the

Which end-use industry is dominating the consumption of natural rubber?

“The automotive industry dominates the consumption of natural rubber, owing to the huge demand for mould components”

In 2022, the automotive industry accounts for the highest share of the natural rubber market by consumption. The elastic and easy moulding properties of rubber are highly favoured for producing automotive components like vehicle tires, seats, mats, wiper blades, etc. Owing to rise in the production of passenger cars, light commercial vehicles and heavy commercial vehicles tire consumption rise to bolster the demand for natural rubber in the coming years.

The automobile industry is expected to grow significantly in the forecast period, owing to the high demand from end users for passenger vehicles and EVs. Natural rubber, which is a key material for the fabrication of various automobile parts, is expected to surge in demand from the automotive sector.

Region-wise Analysis

Which region is leading the global Natural Rubber market by consumption?

“South Asia region to lead the global production and consumption of natural rubber”

According to the FMI analysis, the South Asia region dominates the global production and consumption of natural rubber. The suitable climate conditions in the region have boosted the growth prospects of the market. Farmers in ASEAN countries prefer high-profit rubber plantations, as a result, the ASEAN countries account for the largest share in the production of natural rubber in south Asia.

However, India and other East Asian countries such as China, Japan, and South Korea are also investing significantly to flourish natural rubber production. The growth in end-use industries like automotive and textiles are creating lucrative opportunities for the natural rubber market across these countries.

How is North America performing in the global Natural Rubber market?

“Thriving end-use industries will boost the natural rubber demand across north America”

North America is a key region in the global natural rubber market due to its high consumption from end-use industries. The automotive, textile, and chemical industry in the U.S. is highly developed and competitive. The end users in these domains invest significantly in improving the quality of their products through research-driven innovations.

Thus consumption of natural rubber from these industries has been growing for many years. In the forecast period, U.S. is expected to dominate the consumption for natural rubber in North America.

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Market Competition

The Natural Rubbers market is highly competitive in the Asia-Pacific region. This is due to the huge production of latex and natural rubber in the region and the enormous value chains established by the players. Major corporations are also employing a range of corporate growth strategies to broaden their reach on a regional and international level.

Some of the key participants present in the global demand of the Natural Rubbers market include Sri Trang Agro-Industry Public Company Ltd, Southland Rubber Co., Yunnan State Farms Group Co., Num Rubber & Latex Co.,Ltd, Ltd, Von Bundit Co., Hua Rubber Public Company Ltd, Halcyon Agri, Ltd, Sinochem Group Co. Ltd., Ltd, Apcotex Industries Ltd., and Firestone Natural Rubber Company, among others.

Recent Developments:

  • In May 2021, The BMW Group India announced to equip their cars with tires that are made from certified sustainable natural rubber. This step will boost the adoption of natural rubber for tire production.
  • In April 2022, The Goodyear Tire & Rubber Company today announced a multi-year, multi-million-dollar program supported by the U.S. Department of Defense (DoD), the Air Force Research Lab (AFRL) and BioMADE to work with Ohio-based Farmed Materials to develop a domestic source of natural rubber from a specific species of dandelion.

Scope of the Report

Attribute

Details

Growth Rate

CAGR of 5.4% from 2023 to 2033

Base Year for Estimation

2022

Historical Data

2017-2022

Forecast Period

2023-2033

Quantitative Units

Revenue in USD Million, Volume in Tons, and CAGR from 2023-2033

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis

Segments Covered

  • Type
  • End Use Industry
  • Application

Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa

Key Countries Covered

  • US
  • Canada
  • Mexico
  • Brazil
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • India
  • ASEAN
  • GCC Countries
  • Australia
  • Turkey
  • South Africa

Key Companies Profiled

  • Sri Trang Agro-Industry Public Company Ltd
  • Hua Rubber Public Company Ltd
  • Halcyon Agri
  • Southland Rubber Co., Ltd
  • Sinochem Group Co. Ltd.
  • Num Rubber & Latex Co.,Ltd
  • Yunnan State Farms Group Co., Ltd
  • Von Bundit Co., Ltd
  • Apcotex Industries Ltd.
  • Firestone Natural Rubber Company

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Key Segments Profiled in the Natural Rubber Market Report Natural Rubber Market

By Type, Natural Rubber Market is segmented as:

  • Ribbed Smoked Sheet type
  • Solid Block Rubber type
  • Concentrated Latex type
  • Others (e.g Reclaimed Rubber, Crepe Rubber)

By End Use Industry, Natural Rubber Market is segmented as:

  • Chemical Industry
  • Textile industry
  • Automotive Industry
  • Food Industry
  • Pharmaceutical Industry

By Application, Natural Rubber Market is segmented as:

  • Automotive Components
  • Surgical Gloves
  • Conveyor Belts
  • Foot Wear
  • Latex Products
  • Rubber Pipes and other general products

By Region, Natural Rubber Market is segmented as:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa

Frequently Asked Questions

In 2022, the value of the global natural rubber market reached over US$ 17,334.6 Mn.

During the forecast period, the global natural rubber market is estimated to expand at a CAGR of 5.4% during 2023-2033.

The global natural rubber market is projected to reach US$ 30,914.3 Mn by the end of 2033.

South East Asia is projected to lead the global natural rubber market in the forecast period.

The key players operating in the global natural rubber market are Sri Trang Agro-Industry Public Company Ltd, Hua Rubber Public Company Ltd, Halcyon Agri, Southland Rubber Co., Ltd, and Sinochem Group Co. Ltd.

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Nikhil Kaitwade
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