Trade Updates - Natural Rubber
Natural rubbers are mainly produced out of the latex from the rubber tree. The most important use of natural rubber is in vehicle tyres, taking up 60% of global natural rubber usage. Other significant uses are hoses, door and window profiles, and matting. Global tyre industry is expected to grow at 4% CAGR with rising consumption in the vehicle industry. Natural rubber price is expected to increase, backed by rising demand in tyre.
Source: Tridge
According to Tridge, Thailand, Indonesia, and Malaysia are main exporters of natural rubber, three countries taking up almost 70% of world exports. Total export values of natural rubber recorded USD 14 billion in 2016.
Source: Tridge
China is the largest tyre producing country, and also the top importer of natural rubber, taking up over 30% of global imports. The imported amount is set to grow with rising demand from global tyre market.
