Get 20% off on Global Market Reports until March 31st! Use code FY25SAVE at checkout.

What key factors are powering the surge in the natural rubber latex market right now?

The size of the natural rubber latex market has seen significant growth in recent times. The market is predicted to increase from $10.86 billion in 2024 to $11.59 billion in 2025, with a compound annual growth rate (CAGR) of 6.8%. The robust growth experienced in the historic period can be credited to advancements in the supply chain logistics of NRL, heightened consumer awareness and education, cost efficiency of NRL products, and the recognized quality of NRL goods. Additionally, an increasing emphasis on hygiene standards and infection control, along with public health apprehensions, have also contributed to this growth.

How fast Is the natural rubber latex market expected to grow, and what’s its future value?

The industry for natural rubber latex is predicted to experience robust growth in the coming years, expanding to a market size of $14.86 billion in 2029 with a 6.4% compound annual growth rate (CAGR). This projected upswing during the forecast period is connected to the increased consumption in manufacturing medical gloves, catheters, and other health-related products. The growth is also tied to escalating demand in sectors such as the automotive, increasing inclination towards biodegradable materials, need for NRL-based medical appliances and devices, and strict regulations encouraging NRL usage. The forecast period also sees trending integration of NRL with cutting-edge technologies, the emergence of tailor-made NRL products, breakthroughs in NRL processing technologies, the production of low-protein and allergen-free NRL items, and surges in investments in research and development.

Get your natural rubber latex market report here!

https://www.thebusinessresearchcompany.com/report/natural-rubber-latex-global-market-report

What are the leading drivers of growth in the natural rubber latex market?

The global rise in the production of passenger vehicles is anticipated to fuel the expansion of the natural rubber latex market. A passenger car is primarily engineered for passenger transportation rather than freight, with the capacity to hold several people in a confined seating area. The swelling production of passenger vehicles is a response to heightened consumer need, economic development, and automobile tech advancements. Natural rubber latex is indispensable in making passenger vehicles, as it is used in crafting durable, flexible, and strong components such as tires, seals, and gaskets. For instance, in March 2023, a study by the European Automobile Manufacturers’ Association (ACEA), an automobile industry lobbying and standards organization based in Belgium, highlighted an 11.5% growth in the European Union (EU) passenger car market, totalling 802,763 units in February 2023. This growth was noticeable in most EU markets, particularly in Spain (+19.2%) and Italy (+17.4%). In the first couple months of that year, close to 1.6 million new vehicles hit the EU market, showing an 11.4% rise compared to the similar phase in the previous year. As such, the growth of the natural rubber latex market is spurred by the global increase in passenger vehicle production.

What are the key segments defining the natural rubber latex market?

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: Tires 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

Subsegments:

1) By Ribbed Smoked Sheet (RSS) Type: Rss 1, Rss 2, Rss 3, Rss 4

2) By Solid Block Rubber Type: Standard Block Rubber, High-Grade Block Rubber

3) By Concentrated Latex Type: Standard Concentrated Latex, High-Ammonia Concentrated Latex, Low-Ammonia Concentrated Latex

4) By Other Types: Liquid Latex, Skim Rubber, Crepe Rubber

Get your free sample now – explore exclusive market insights:

https://www.thebusinessresearchcompany.com/sample.aspx?id=18685&type=smp

Who are the key players steering the development of the 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., Rubberex (M) Sdn Bhd (Pvt Ltd)

What are the key trends shaping the future of the natural rubber latex market?

Leading corporations in the natural rubber latex market are innovating and introducing high-tech products such as sustainable rubber, which adheres to the requirements of consumers seeking eco-friendly and socially responsible goods. Sustainable rubber is essentially rubber that is created and procured in manners that reduce environmental harm, encourage social accountability, and offer economic feasibility throughout its existence. For example, Sri Trang Group, a natural rubber enterprise based in Thailand, unveiled the Traceable Natural Rubber (GPS) in March 2024, guaranteeing 100% traceability of rubber origins. This groundbreaking move by Sri Trang Group has the potential to solidify Thailand’s market stance, catering to specific global and EU requirements. The move is indicative of a significant leap towards sustainability, boosting the competitive edge of the Thai natural rubber sector. It demonstrates Sri Trang Group’s resolve to comply with the emerging global regulations that demand traceability in natural rubber procurement, thereby ensuring their business operations are transparent, sustainable, and accountable.

Unlock exclusive market insights – purchase your research report now for a swift delivery!

https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=18685

Which regions are most influential in expanding the natural rubber latex market?

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.

Browse Through More Similar Reports By The Business Research Company:

Industrial Gases for Plastic & Rubber Industry Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/industrial-gases-for-plastic-and-rubber-industry-global-market-report

Rubber Gloves Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/rubber-gloves-global-market-report

Rubber Additives Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/rubber-additives-global-market-report

About The Business Research Company:

With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at [email protected]

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: