Press release
Natural Rubber Latex Market Report, Size, Share, Growth, Trends, Industry Analysis, Forecast to 2033
Natural Rubber Latex Market
The new report published by The Business Research Company, titled Natural Rubber Latex Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the natural rubber latex market size has grown strongly in recent years. It will grow from $10.21 billion in 2023 to $10.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The natural rubber latex market size is expected to see strong growth in the next few years. It will grow to $13.97 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
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What Is Driving The Growth Of The Global Natural Rubber Latex Market?
Impact Of Increasing Global Passenger Vehicle Production On The Natural Rubber Latex Market
The increasing global passenger vehicle production is expected to propel the growth of the natural rubber latex market going forward. A passenger vehicle is a motor vehicle designed primarily for transporting passengers rather than goods, typically accommodating up to several individuals in enclosed seating. Passenger vehicle production is rising due to increasing consumer demand, economic growth, and advancements in automotive technology. Natural rubber latex is required for passenger vehicles due to its essential role in manufacturing durable, flexible, and resilient components like tires, seals, and gaskets. For instance, in March 2023, according to a report published by the European Automobile Manufacturers' Association (ACEA), a Belgium-based lobbying and standards group of the automobile industry, the European Union (EU) passenger car market expanded by 11.5% to reach 802,763 units in February 2023, with robust growth observed across most EU markets, including substantial increases in Spain (+19.2%) and Italy (+17.4%). During the first two months of the year, the EU market registered nearly 1.6 million new cars, marking an 11.4% increase compared to the same period in the previous year. Therefore, the increasing global passenger vehicle production is driving the growth of the natural rubber latex market.
What Is The Key Trend In The Global Natural Rubber Latex Market?
Advancements In Sustainable Natural Rubber
Major companies operating in the natural rubber latex market are developing technologically advanced products, such as sustainable rubber, to meet consumer demand for environmentally and socially responsible products. Sustainable rubber refers to rubber produced and sourced in ways that minimize environmental impact, promote social responsibility, and ensure economic viability throughout its lifecycle. For instance, in March 2024, Sri Trang Group, a Thailand-based natural rubber company, launched the Traceable Natural Rubber (GPS) with 100% traceability of rubber sources. The introduction of this rubber by Sri Trang Group represents a pivotal move to strengthen Thailand's market position, meeting specific EU and global demands. This initiative signifies a significant stride towards sustainability, enhancing the competitiveness of Thailand's natural rubber industry. It showcases Sri Trang Group's commitment to align with emerging international regulations mandating traceability in natural rubber sourcing, thereby ensuring transparency, sustainability, and accountability in their business operations.
How Is The Global Natural Rubber Latex Market Segmented?
The natural rubber latex market covered in this report is segmented -
1) By Type: Ribbed Smoked Sheet type, Solid Block Rubber type, Concentrated Latex type, Other Types
2) By Application: Tyres And Related Products, Latex Products, Footwear, Non-Automotive, Engineering, Belting And Hose, Other Applications
3) By End Use Industry: Chemical Industry, Textile industry, Automotive Industry, Food Industry, Pharmaceutical Industry
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How Is The Competitive Landscape Of The Global Natural Rubber Latex Market?
Major companies operating in the natural rubber latex market are Sinochem International Holdings Co. Ltd., Sri Trang Agro-Industry PLC, Ansell Limited, Semperit AG Holding, Top Glove Corporation Bhd, Hartalega Holdings Berhad, Kossan Rubber Industries Bhd, Thai Rubber Latex Group Public Company Limited, Supermax Corporation Berhad, P.T. Bakrie Sumatera Plantations Tbk, YTY Group, Vietnam Rubber Group (VRG), Thai Hua Rubber Public Company Limited, Latexco Solutions, Von Bundit Co. Ltd., MacLellan Rubber Ltd., Corrie MacColl Limited, Latexx Partners Berhad, Southland Rubber Inc., China Hainan Natural Rubber Industry Group Co. Ltd., WEBER & SCHAER GmbH & Co. KG, Tong Thai Rubber Co. Ltd., Sri Trang Gloves Plc, Oliver Rubber Industries LLP Inc., Rubbere*x (M) Sdn Bhd (Pvt Ltd)
Contents Of The Global Natural Rubber Latex Market
1. Executive Summary
2. Natural Rubber Latex Market Report Structure
3. Natural Rubber Latex Market Trends And Strategies
4. Natural Rubber Latex Market - Macro Economic Scenario
5. Natural Rubber Latex Market Size And Growth
…..
27. Natural Rubber Latex Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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