According to the research report titled ‘Global Natural Rubber Market Size study, by Type (RSS Grade, Latex Concentrate, & Solid Block), by Application (Automobiles, Gloves, Foot Wear, and Belting & Hose), and Regional Forecasts 2021-2027’, available with Market Study Report, global natural rubber market was worth USD 29.25 billion in 2020 and is expected to register 2.1% CAGR over 2021-2027 to reach a valuation of USD 33.87 billion by the forecast period end.
 

Rising product demand from footwear industry and automobile sector, increasing adoption of gloves in personal protective equipment, and product properties such as abrasion resistance and adhesion to metals are propelling the growth of global natural rubber market.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3839597/
 

Moreover, end-user manufacturers  are adopting the product as an alternative to synthetic rubber, further augmenting the growth of the business domain.
 

On the downside, restriction on imports and exports due to COVID-19 related lockdowns in several nations is likely to hamper the industry development over the analysis timeframe.
 

Apart from elucidating growth drivers and restraints, the report also provides details pertaining to market share, size, and scope of various industry segments.
 

With respect to type, the market sphere is classified into solid block rubber, latex concentrate, RSS grade, and others. In terms of application gamut, worldwide natural rubber industry is fragmented into latex products, footwear, gloves, auto-tire sector, and others.
 

As per expert verbatim, Asia Pacific (India, China, Australia, Japan, South Korea), Europe (U.K., France, Germany, Italy, Spain, ROE), North America (U.S., Canada), and Latin America (Brazil, Mexico) are key growth avenues for market partakers. The document claims that Asia Pacific presently holds a major market share, owing to the availability of major producer and consumer chains in countries like Indonesia, China and Thailand.
 

Parallelly, Europe industry is slated to register a remarkable growth rate over the forecast period, creditable to presence of leading automobile manufacturers.
 

Leading companies in global natural rubber industry include Thai Rubber Latex Corporation, Apcotex Industries Ltd., Von Bundit Co. Ltd., Sri Trang Group, Sinochem Corporation, Firestone Natural Rubber Company LLC, Halcyon Agri Corporation Limited, Bridgestone Corporation, Michelin and Southland Rubber Group.