Natural Rubber Market - Forecast(2023 - 2028)

Report Code: CMR 48551 Report Format: PDF + Excel

Natural Rubber Market Overview

The 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. However, serious health and environment issues caused by natural rubber can limit its production volume. This can hamper the growth of global natural rubber industry.

COVID-19 Impact

Natural rubber has due to its rich chemical properties and high elastic nature is majorly used in sectors like automotive, construction and footwear. In automotive sector it is used to make tires & rubber mats, in construction sector it is used in cements & adhesives while in footwear sectors it is used to make shoe soles. 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. For instance, according to International Organization of Motor Vehicle Manufacturer, in 2020, global vehicle production was 77.7 million showing 15.6% decrease compared to 92.1 million units made in 2019. Also, according to Office for National Statistics, in 2020, total new work construction output decreased by 16.3% with percentage reduction of 17.2% in public construction and 16% in private construction. Further, according to World Footwear Yearbook released by Portuguese Footwear Association, in 2020, global footwear production fell by 15.8% while exports fell by 19% compared to 2019. Such decrease in productivity of automotive, construction and footwear sector reduced the usage of natural rubber in them, resulting a negative impact on growth of global natural rubber industry.

Report Coverage

The report: “Natural Rubber Market Report – Forecast (2022 – 2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Natural Rubber industry.

By Form – Sheets, Creeps, Block Rubber, Preserved Latex Concentrates, and Others.
By Grade – Technically Specified, Ribbed Smoked Sheets, Thick Pale Creep, and Others.
By Application – Adhesives, Cement, Friction Tapes, Tires, Conveyor Belts, Insulation Material, Shoe Sole, Shock Absorbers, Cables, and Others.
By End Use Industry – Automotive (Passenger Vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles), Construction (Residential, Commercial, and Industrial), Aerospace (Commercial Aviation, General Aviation, and Military Aviation), Medical, Electronic & Electrical, Footwear, Printing, Oil & Gas, and Others.
By Geography - North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherland, Spain, Russia, Belgium, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), Rest of the World (Middle East, Africa)

Key Takeaways

  • 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.
  • 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.
  • 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.

Figure: Asia-Pacific Natural Rubber Market 2021-2027 (US$ Billion)

 Natural Rubber Market

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Natural Rubber Market Segment Analysis – By Grade

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. Rapid development in these sectors has positively impacted the usage of natural rubber in them. For instance, according to European Automobile Manufacturer Association, from January to April 2021, EU demand for passenger cars increased by 24.4% to reach 3.4 million units registered in total. Also, according to General Aviation Manufacturer Association, in 2021, total airplane shipment was 2,630 units compared to 2,408 units in 2020 showing 9.2% increase. Further, according to Canada Mortgage and Housing Corporation, in Q4 of 2021, housing construction increased to 68,958 units compared to 63,741 units in Q4 of 2020 showing 8.1% increase. Increase in production level of automotive, aerospace and construction sector will demand more usage of natural rubber in them, resulting positive growth of global natural rubber industry.

Natural Rubber Market Segment Analysis – By End Use Industry

Automotive sector held a significant share in Natural Rubber Market in 2021 with a share of over 21%. Natural rubber containing isoprene compound has rich elasticity can be molded in different shapes and sizes. Hence, due to high elasticity and flexibility, natural rubber is used to manufacture tire for different vehicles types such as passengers and light commercials vehicles. Moreover, besides tire making, natural rubber is also used in making window sealant, automotive mat, engine mounts and wiper blades. The growing advancements in automotive and high demand for new vehicles has increased the productivity of automotive sector. For instance, according to International Organization of Motor Vehicle Manufacturer, in 2021, global production volume of light commercial vehicle was 18.6 million units compared to 17.2 million units in 2020, showing 8% increase. Further, 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. The increase in production and consumption of passenger and light commercial vehicles will create more usage of natural rubber in automotive sector for tire other accessories making. This will positively impact the growth of global natural rubber industry.

Natural Rubber Market Segment Analysis – By Geography

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. For instance, according to International Organization of Motor Vehicle Manufacturer, in 2021, from 80.1 million units globally produced, Asia held 50% share with China producing 26 million units and India 4.4 million units. Also, according to World Footwear Yearbook published by Portuguese Footwear Association, in 2020, China held the leading share of 20.8% in global footwear consumption followed by India with 10.6% share. Further, according to China’s National Bureau of Statistics, in Q2 of 2021, construction sector of China registered growth of 1.8% while its cumulative growth was 8.6% in first half of 2021. Rapid increase in automotive, footwear and construction sector will demand more usage of natural rubber for making automotive tires, cement and shoe sole. This will boost the growth of global natural rubber industry.

Natural Rubber Market Drivers

Growing Production of Automotive

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. For instance, according to International Organization of Motor Vehicle Manufacturer, in 2021, global production volume of passenger vehicles was 57 million units showing 2% increase compared to 55.9 million units made in 2020. Such increase in global production volume of passenger vehicles will increase the usage of natural rubber polymer for making tires and other automotive accessories. This will boost global natural rubber industry growth.

Increase in Construction Activities

Natural rubber polymer consisting of isoprene compounds is used for preparing bonding agents which are added to cement for repairing concrete and plastered surfaces. The rapid increase in residential and commercial construction on account of high demand for residential units and infrastructure developments has positively impacted the usage of natural rubber in construction sector. For instance, according to Germany’s Federal Statistical Office, in January 2022, the construction of 29,951 dwelling was permitted in Germany, showing an increase of 8.3% compared to 2021 same month. Also, according to Eurostat, in October 2021, building construction in EU increased by 4.6% while civil construction showed an increase of 3.3%. Such increase in residential and commercial construction will lead to more usage of natural rubber in cements and plasticizers. This will boost the growth of global natural rubber industry.

Natural Rubber Market Challenge

Negative Impact on Health and Environment

Natural rubber proves to be harmful to people who have serious latex allergy. Exposure to natural latex can cause anaphylactic shock which is a serious allergic reaction that can cause death. Hence, besides health impact, 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. This can hamper the growth of global natural rubber industry.

Global Natural Rubber Industry Outlook

The companies to develop a strong regional presence and strengthen their market position, continuously engage in mergers and acquisitions. In the Natural Rubber Market report, the global natural rubber top 10 companies are:

  1. Sinochem Corporation
  2. Sri Tang-Agro Industry
  3. China Hainan Rubber
  4. Von Bundit
  5. Thai Rubber Latex Group
  6. Hanna Rubber Company
  7. American Phoenix Inc.
  8. Cooper Standard ISG
  9. Halcyon Agri Corporation Limited
  10. Southland Rubber Group

Recent Developments

  • In 2021, GRT Rubber Technologies a leading manufacturer of engineered rubber acquired Valley Rubber a manufacturer of custom rubber solutions for tough mining  and industrial applications.
  • In 2021, Goodyear Tire & Rubber Company merged with Cooper Tire & Rubber Company and the combination will unite two leading tire companies with complementary product portfolios, services and capabilities to create a stronger U.S.-based leader in the global tire industry.
  • In 2021, Reebok launched a new range of running shoes Reebok Floatride Energy GROW which is a high-performance running show made from eucalyptus, bloom algae and natural rubber.

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1. Natural Rubber Market- Market Overview
    1.1  Definitions and Scope
2. Natural Rubber Market - Executive Summary
    2.1 Key Trends by Form
    2.2 Key Trends by Grade
    2.3 Key Trends by Application
    2.4 Key Trends by End Use Industry
    2.5 Key Trends by Geography
3. Natural Rubber Market – Comparative analysis
    3.1  Market Share Analysis- Major Companies
    3.2  Product Benchmarking- Major Companies
    3.3  Top 5 Financials Analysis
    3.4  Patent Analysis- Major Companies
    3.5  Pricing Analysis (ASPs will be provided)
4. Natural Rubber Market - Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Natural Rubber Market – Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Natural Rubber Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Natural Rubber Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Natural Rubber Market – By Form (Market Size – US$ Million/ Billion)
    8.1 Sheets
    8.2 Creeps
    8.3 Block Rubber
    8.4 Preserved Latex Concentrates
    8.5 Others
9. Natural Rubber Market – By Grade (Market Size – US$ Million/ Billion)
    9.1 Technically Specified
    9.2 Ribbed Smoked Sheets
    9.3 Thick Pale Creep
    9.4 Others
10. Natural Rubber Market – By Application (Market Size -US$ Million/Billion)
    10.1 Adhesives
    10.2 Cement
    10.3 Friction Tapes
    10.4 Tires
    10.5 Conveyor Belts
    10.6 Insulation Material
    10.7 Shoe Sole
    10.8 Shock Absorbers
    10.9 Cables
    10.10 Others
11. Natural Rubber Market – By End Use Industry (Market Size -US$ Million/Billion)
    11.1 Automotive
        11.1.1 Passenger Vehicles
        11.1.2 Light Commercial Vehicles
        11.1.3 Heavy Commercial Vehicles
    11.2 Construction
        11.2.1 Residential
        11.2.2 Commercial
        11.2.3 Industrial
        11.3 Aerospace
        11.3.1 Commercial Aviation
        11.3.2 General Aviation
        11.3.3 Military Aviation
    11.4 Medical
    11.5 Electronic & Electrical
    11.6 Textile & Footwear
    11.7 Printing
    11.8 Oil & Gas
    11.9 Others
12. Natural Rubber Market - By Geography (Market Size -US$ Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zeeland
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
            12.5.1.1  Saudi Arabia
            12.5.1.2  UAE
            12.5.1.3  Israel
            12.5.1.4  Rest of the Middle East
        12.5.2 Africa
            12.5.2.1  South Africa
            12.5.2.2  Nigeria
            12.5.2.3  Rest of Africa
13. Natural Rubber Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Natural Rubber Market – Industry/Competition Segment Analysis Premium 
    14.1 Company Benchmarking Matrix – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share by Key Region - Major companies
    14.4 Market Share by Key Country - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category - Major companies
15. Natural Rubber Market – Key Company List by Country Premium Premium 
16. Natural Rubber Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
"*Financials would be provided on a best effort basis for private companies"

LIST OF TABLES

1.Global Natural Rubber Market, by Type Market 2019-2024 ($M)
2.Global Natural Rubber Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
3.Global Natural Rubber Market, by Type Market 2019-2024 (Volume/Units)
4.Global Natural Rubber Market Analysis and Forecast by Type and Application Market 2019-2024 (Volume/Units)
5.North America Natural Rubber Market, by Type Market 2019-2024 ($M)
6.North America Natural Rubber Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
7.South America Natural Rubber Market, by Type Market 2019-2024 ($M)
8.South America Natural Rubber Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
9.Europe Natural Rubber Market, by Type Market 2019-2024 ($M)
10.Europe Natural Rubber Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
11.APAC Natural Rubber Market, by Type Market 2019-2024 ($M)
12.APAC Natural Rubber Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
13.MENA Natural Rubber Market, by Type Market 2019-2024 ($M)
14.MENA Natural Rubber Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)

LIST OF FIGURES

1.US Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
2.Canada Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
3.Mexico Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
4.Brazil Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
5.Argentina Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
6.Peru Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
7.Colombia Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
8.Chile Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
9.Rest of South America Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
10.UK Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
11.Germany Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
12.France Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
13.Italy Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
14.Spain Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
15.Rest of Europe Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
16.China Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
17.India Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
18.Japan Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
19.South Korea Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
20.South Africa Global Natural Rubber Industry Market Revenue, 2019-2024 ($M)
21.North America Global Natural Rubber Industry By Application
22.South America Global Natural Rubber Industry By Application
23.Europe Global Natural Rubber Industry By Application
24.APAC Global Natural Rubber Industry By Application
25.MENA Global Natural Rubber Industry By Application