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%. The growth in the forecast period can be attributed to increased use in medical gloves, catheters, and other healthcare products, rising demand in industries such as automotive, growing preference for biodegradable materials, demand for NRL-based medical supplies and equipment, and stringent regulatory requirements promoting the use of NRL. Major trends in the forecast period include integration of NRL with advanced technologies, development of customized NRL products, innovations in NRL processing technologies, development of low-protein and allergen-free NRL products, and increasing investments in research and development.
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Scope Of Natural Rubber Latex Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Natural Rubber Latex Market Overview
Market Drivers –
The increasing global production of passenger vehicles is anticipated to stimulate the growth of the natural rubber latex market in the near future. Passenger vehicles are primarily designed for transporting passengers rather than goods and typically accommodate multiple individuals in enclosed seating. The rise in passenger vehicle production is driven by escalating consumer demand, economic growth, and advancements in automotive technology. Natural rubber latex is essential for manufacturing durable, flexible, and resilient components like tires, seals, and gaskets for passenger vehicles. For instance, the European Automobile Manufacturers’ Association (ACEA), a Belgium-based industry group, reported in March 2023 that the EU passenger car market grew by 11.5% to reach 802,763 units in February 2023, with significant growth observed across most EU markets, including a 19.2% increase in Spain and a 17.4% increase in Italy. During the first two months of the year, nearly 1.6 million new cars were registered in the EU, marking an 11.4% increase compared to the same period the previous year. Thus, the increasing global passenger vehicle production will drive the growth of the natural rubber latex market through 2023, into 2024, and is projected to continue expanding by 2028.
Market Trends –
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.
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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Regional Insights –
Asia-Pacific was the largest region in the natural rubber latex market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the natural rubber latex market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies in the 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., Rubberex (M) Sdn Bhd (Pvt Ltd)
Table of Contents
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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