Recovering Rubber Prices Drives the Natural Rubber Market| Technavio

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LONDON–()–The global natural rubber market is expected to grow at a CAGR of around 4% from 2017-2021, according to a new market research report by Technavio.

Global natural rubber market segmentation by application and geography

Technavio's report on the global natural rubber market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by application, including tires and non-tires. As projected in 2016, around 69% of the market share originated from tires.

Based on geography, the global natural rubber market has been segmented into APAC, the Americas, and EMEA. APAC is the dominant region out of all the geographical segments. In 2016, it accounted for the maximum share of around 73%, especially due to the low-cost labor benefits in the automotive industry and high disposable income of consumers in developing economies.

“Countries such as South Korea, Japan, China, and India are the largest revenue contributors to the automotive industry on which the market in APAC highly relies. The hefty investments of automobile manufacturers and the expansion of western manufacturers in the developing economies of this region, particularly India and China, are providing growth opportunities for the market,” says Ajay Adikhari, a lead analyst at Technavio for plastics, polymers, and elastomers research.

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Global natural rubber market: competitive vendor landscape

The global natural rubber market has several established and regional players. The major players include Bridgestone, MICHELIN, SINOCHEM GROUP, Sri Trang Agro-Industry, and VON BUNDIT. They are focused on R&D to improve their product portfolio by launching innovative products. Though small-scale farmers own limited plantation areas, they contribute significantly to the global natural rubber production.

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Other topics covered in the report:

Market drivers:

  • Recovering rubber prices
  • Government intervention and granting subsidies

Market challenges:

  • Increasing preference for synthetic rubber
  • Decreasing plantation and tapping

Market trends:

  • Increasing popularity of guayule-derived natural rubber
  • Shifting of tire production facilities to low-cost production countries

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Maria Burns

Maria Burns

Maria is a Viral News Editor who graduated from the University Of California. She likes social media trends, being semi-healthy, Buffalo Wild Wings and vodka with lime. When she isn’t writing, Maria loves to travel. She last went to Thailand to play with elephants and is planning a trip to Bali.
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