The surge in demand in the automotive industry, coupled with the global shift towards sustainable and environmentally friendly materials, has greatly driven the demand for natural rubber. With the expansion of automobile production, especially in emerging markets, there is an increasing demand for natural rubber that is crucial for durability and elasticity, such as tires, belts, seals, and others. The renewable nature and low environmental impact of natural rubber make it the preferred choice for synthetic, petroleum based alternatives, in line with the industry's emphasis on sustainability. As a result, the demand for the natural rubber market will continue to grow during the forecast period.
Wilmington, Delaware, on February 5, 2025 (Globe Newswire), the Allied market research published a report entitled "Riding natural rubber market (tires, medical gloves, tubes, shoes, shoes, belts, rubber covered rollers - MRO, MRO, rubber tiles, molded rubber products, adhesive compounds, conveyor belts, extrusion products, rubber coating products, rubber bands, latex adhesives, balloons, rubber linings, latex foam, latex wires, condoms and industrial gloves (North America, Europe, Europe, Europe, Europe, condoms and industrial gloves) Asia Pacific region, Latin America, West Africa and the rest of the world): opportunity analysis and industry Forecast, 2024-2034". According to the report, the value of the natural rubber market was $27.6 billion in 2021, and it is expected to reach $46.8 billion by 2034, with a compound annual growth rate of 4.2% from 2024 to 2034.
The main determining factors for the growth of the natural rubber market
The shift towards sustainable and environmentally friendly materials has driven the demand for natural rubber in various industries. Natural rubber is a biodegradable and renewable material that is in line with sustainable trends, providing an environmentally friendly alternative to synthetic rubber. The promotion of sustainability is evident in sectors such as automotive, construction, and consumer goods, where companies actively seek to enhance their environmental profile by incorporating natural materials into their products. It is expected that all these factors will drive the growth of the natural rubber market during the forecast period.
Tire segment to maintain its advantage until 2034
According to the application, the tire sector accounted for two-thirds of the natural rubber market share in 2021 and is expected to maintain its advantage during the forecast period. Natural rubber plays a crucial role in tire manufacturing due to its unique characteristics such as high elasticity, durability, and wear resistance. In tires, natural rubber is mainly used for the tread and sidewall, and its flexibility helps absorb impacts and enhance grip, especially in heavy-duty and off-road vehicles. Its elasticity enables the tire to maintain traction and withstand deformation under various road conditions, thereby improving safety and performance. In addition, its ability to resist heat accumulation during friction makes it an important component in ensuring tire life and fuel efficiency. Its sustainable development origin further increases its value in the automotive industry, in line with the growing environmental issues.
Throughout the forecast period, the dominant position in the Asia Pacific region
According to the region, the Asia Pacific region accounts for over two-thirds of the natural rubber market share in 2021 and is expected to maintain its advantage during the forecast period. The demand from both domestic and international markets has driven the growth of natural rubber production in the Asia Pacific region. The main industries, especially the automotive manufacturing industry, heavily rely on natural rubber for tire production, as well as other necessary components such as seals and belts. With the emergence of the Asia Pacific region as an important hub for automotive and industrial manufacturing, the local demand for natural rubber continues to increase.
