Natural Rubber Market Size

Natural Rubber Market Analysis

The Natural Rubber Market size is estimated at USD 18.14 billion in 2024, and is expected to reach USD 22.82 billion by 2029, growing at a CAGR of 4.70% during the forecast period (2024-2029).

• Natural rubber is obtained from the rubber tree (Hevea brasiliensis) and consists of polymers of organic origin, and it is mainly harvested in the form of latex. Natural rubber is preferred over synthetic rubber due to its high tensile strength and vibration-dampening properties, along with tear resistance. This makes it important for the construction and automobile industries. The growth of the automobile market across countries is anticipated to increase the demand for natural rubber production. Furthermore, the rise in demand for latex products, such as catheters, gloves, and belts, in recent years, is also increasing the demand for natural rubber globally.
• The Asia-Pacific region is the largest producer with over 90% of the global natural rubber production. Major countries involved in rubber production are Thailand, Vietnam, Indonesia, China, and India. Besides production, the Asia-Pacific region is also the largest consumer of natural rubber in the world due to the presence of major manufacturing countries such as China and India. For instance, China is the world's largest importer and consumer of natural rubber, consuming around 40.0% of the total global output annually. China being one of the major three automobile manufacturers in the world, the increasing growth of the automobile industry resulted in the increased demand for raw materials, such as natural rubber in the past few years. Therefore, the rising demand for latex products coupled along with the growing global automobile and construction industry is one of the major factors anticipated to drive the natural rubber market in the coming years.