PUBLISHER: The Business Research Company | PRODUCT CODE: 1582553
PUBLISHER: The Business Research Company | PRODUCT CODE: 1582553
Natural rubber latex is a milky fluid found in the latex vessels or cells of certain plants, especially rubber trees. It consists of isoprene polymers (a type of hydrocarbon), mixed with water, proteins, resins, and other compounds. Harvested by tapping the tree-making incisions into the bark and collecting the fluid-natural rubber latex is a renewable resource.
The primary types of natural rubber latex include ribbed smoked sheet (RSS), solid block rubber, concentrated latex, and others. Ribbed smoked sheet is processed into thin, ribbed sheets through smoking and drying. It is used in a variety of applications such as tyres, latex products, footwear, non-automotive items, engineering components, belting, and hoses. This type of latex is utilized across several industries, including chemicals, textiles, automotive, food, and pharmaceuticals.
The natural rubber latex market research report is one of a series of new reports from The Business Research Company that provides natural rubber latex market statistics, including natural rubber latex industry global market size, regional shares, competitors with a natural rubber latex market share, detailed natural rubber latex market segments, market trends and opportunities, and any further data you may need to thrive in the natural rubber latex industry. This natural rubber latex market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 growth during the historic period can be attributed to advancements in the supply chain logistics of natural rubber latex (NRL), increased consumer awareness and education, the cost-effectiveness of NRL products, their established reputation for quality, a heightened focus on infection control and hygiene standards, and public health concerns.
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 the increased use of natural rubber latex (NRL) in medical gloves, catheters, and other healthcare products, rising demand in industries such as automotive, a growing preference for biodegradable materials, high demand for NRL-based medical supplies and equipment, and stringent regulatory requirements that promote the use of NRL. Major trends expected during this period include the integration of NRL with advanced technologies, the development of customized NRL products, innovations in NRL processing technologies, the creation of low-protein and allergen-free NRL products, and rising investments in research and development.
The rising global production of passenger vehicles is expected to boost the growth of the natural rubber latex market. Passenger vehicles, designed mainly for transporting people rather than goods and typically accommodating several individuals in enclosed seating, are seeing increased production due to higher consumer demand, economic expansion, and advancements in automotive technology. Natural rubber latex is crucial for passenger vehicles as it is used to produce durable, flexible, and resilient components such as tires, seals, and gaskets. For example, in March 2023, the European Automobile Manufacturers' Association (ACEA), a Belgium-based lobbying and standards group for the automobile industry, reported that the European Union (EU) passenger car market grew by 11.5% to 802,763 units in February 2023. This growth was evident across most EU markets, with significant increases in Spain (+19.2%) and Italy (+17.4%). In the first two months of the year, the EU market saw nearly 1.6 million new cars, an 11.4% rise compared to the same period the previous year. Consequently, the increasing global production of passenger vehicles is driving the natural rubber latex market.
Leading companies in the natural rubber latex market are developing advanced products such as sustainable rubber to cater to consumer demand for environmentally and socially responsible options. Sustainable rubber is produced and sourced in ways that minimize environmental impact, support social responsibility, and ensure economic viability throughout its lifecycle. For instance, in March 2024, Sri Trang Group, a Thailand-based natural rubber company, introduced the Traceable Natural Rubber (GPS), which offers 100% traceability of rubber sources. This launch represents a strategic move by Sri Trang Group to strengthen its market position in Thailand and meet specific EU and global demands. It marks a significant step towards sustainability, enhancing the competitiveness of Thailand's natural rubber industry. The initiative reflects Sri Trang Group's commitment to complying with emerging international regulations that mandate traceability in natural rubber sourcing, thereby ensuring transparency, sustainability, and accountability in their operations.
In July 2023, Pirelli & C. S.p.A., an Italy-based tire manufacturer, acquired Hevea-Tec for an undisclosed amount. This acquisition is aimed at enhancing Pirelli's natural rubber supply in Latin America, ensuring a steady supply in the region and improving operational efficiency. Pirelli also plans to increase production volumes at Hevea-Tec to support its strategic goals. Hevea-Tec is a Brazil-based producer of natural rubber latex products.
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., Rubberex (M) Sdn Bhd (Pvt Ltd)
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.
The countries covered in the natural rubber latex market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The natural rubber latex market consists of sales of medical gloves, rubber bands, sealants and coatings and other related products. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Natural Rubber Latex Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on natural rubber latex market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for natural rubber latex ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The natural rubber latex market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.