H1 2023: In H1 2023, prices of Natural Rubber fluctuated in the Asia Pacific region. In Thailand, prices fell in February and rose in March 2023. There was an increase in April's prices of natural rubber, but there was a steady decrease in price the next month. With higher sales and industrial output, the downstream tire and car industries had a high demand for TSR. Nonetheless, the cost of natural rubber kept declining from mid-May 2023 to June. Asia's top producers and exporters of natural rubber included nations like Malaysia and Thailand. Thailand exported 1.6 million tons of natural rubber in the first four months of 2023 on a global scale. In June, exporting nations like Malaysia and Thailand produced excess TSR leading to abundance of material. Consequently, rise in supplies and surplus inventory of natural rubber caused natural rubber prices in the Asia Pacific region to continuously decline. In H1 2023, the price of natural rubber steadily declined in the North American market. The prices of natural rubber kept going down till May 2023. However, June saw an increase in car sales, demonstrating the remarkable performance of the downstream automotive and tire industry of the US. Natural rubber was mostly imported into North American, with Thailand and Malaysia being the two biggest suppliers to countries like US.
The global Natural Rubber market stood at approximately 14.4 million tonnes in 2022 and is anticipated to grow at a CAGR of 4.20% during the forecast period until 2032.
Natural rubber is made up of organic compounds and categorized as an elastomer. Natural Rubber is extracted from the latex of rubber trees. TSR is very flexible, elastic, and resistant to abrasion, water, and electricity. It is used in a wide range of products, including friction tapes, adhesives, automotive and aircraft tires, and insulation materials. Natural rubber is thus utilized in industries like the construction, aerospace, textile & footwear, medicinal, and oil and gas because to its versatile nature. Freon/air conditioning, motor mounts, utomobile gaskets and seals, anti-vibration mounts, refrigeration seals, and chemical and petroleum tank linings are a few common applications of Natural Rubber. Additional applications for natural rubber include tires for automobiles, buses, and even airplanes combine natural rubber and synthetic polymers. Tires that endure a long period are primarily made durable and resistant to abrasion. Many additional car components, like airbags, window seals, and brake pads, are also made of natural rubber. Other than that, rubber flooring is used in many public areas and business places, including playgrounds, commercial kitchens, and gyms is made of Natural Rubber. This is because rubber flooring is durable. In addition to provide a long lifespan, natural rubber offers an easy-to-clean and maintain surface. Also, elastic thread, balloons, medical tubes, catheters, and various adhesives all use natural rubber latex. The global market for Natural Rubber is divided into three types- Technically Specified Rubber (TSR), Ribbed Smoke Sheets, and Latex. TSR is segmented on the basis of grade- STR (Standard Thai Rubber), SIR (Standard Indonesia Rubber), and SMR (Standard Malaysia Rubber). RSS is categorized into Ribbed Smoked Sheets 1, Ribbed Smoked Sheets 2, Ribbed Smoked Sheets 3, Ribbed Smoked Sheets 4, and Ribbed Smoked Sheets 5.
One of the main factors impacting the natural rubber market trends is the rising demand for natural rubber in the tire industry. It is anticipated a demand from tires sector is expected to increase which will lead to increase in demand of natural rubber in coming years. The physical characteristics of natural rubber are essential for the production of shoe soles. These characteristics include durability, resistance to abrasion, slippage, tensile strength, oil resistance, ability to be moulded into various forms, and tear strength resistance. Over the projected period, growth in the natural rubber business may be aided by increased production of footwear to accommodate a wider range of consumer demands. Owing to these reasons, the global Natural Rubber market is likely to reach approximately 21.7 million tonnes in 2032.
In terms of geography, Asia Pacific region is the largest producer of Natural Rubber. The main Natural Rubber producers in the Asian nations include Malaysia, Indonesia, and Thailand. In the upcoming years, Vietnam has the potential to become a major manufacturer in the Asia Pacific area and is also becoming an important sourcing location. The expanding demand for tires in the automotive industry and the rising need for latex products are the main drivers of demand in the Asia Pacific region.
Based on the end-user industry, the global Natural Rubber market is divided into Tires, Medical Gloves, Elastics, Tubes, Rubber Bands, and Others. Among these, Tires is dominating the global Natural Rubber market and held about 60% of the global Natural Rubber market in 2022 and is anticipated to prevail the similar trend in the upcoming years. Latex makes a great water barrier. For this reason, latex is utilized in surgical and medical examination gloves as well as contraceptives.
Major players in the Global Natural Rubber market are Sinochem Group, Apcotex Industries Limited, Halcyon Agri Corporation Limited, Bridgestone Corporation, Michelin Group, Southland Rubber Company Limited, Sri Trang Agro-Industry Plc, Thai Hua Rubber Public Company Limited, Thai Rubber Latex Group Public Company Limited and Von Bundit Co. Ltd.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Natural Rubber which covers production, demand and supply of Natural Rubber market in the globe.
• To analyse and forecast the market size of Natural Rubber
• To classify and forecast Global Natural Rubber market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Natural Rubber market in the globe.
To extract data for Global Natural Rubber market, primary research surveys were conducted with Natural Rubber manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Natural Rubber market over the coming years.
ChemAnalyst calculated Natural Rubber demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Natural Rubber. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Natural Rubber manufacturers and other stakeholders
• Organizations, forums and alliances related to Natural Rubber distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Natural Rubber manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Natural Rubber market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
14.4 million tonnes
Market size Volume in 2032
21.7 million tonnes
Growth Rate
CAGR of 4.20% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in million tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by type, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Foreign trade.
Segments covered
By End-Use: (Tires, Medical Gloves, Elastics, Tubes, Rubber Bands, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the net market size of Natural Rubber in terms of volume in 2022?
Ans:
The global market size of Natural Rubber had reached approximately 17 million tonnes in 2022.
Q2.
Which industry is the leading consumer of Natural Rubber ?
Ans:
Tires industry is the leading consumer of Natural Rubber globally.
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