Growth in the global rubber market is being held back by price volatility and substitution of Rubber-2 (natural) for some grades of synthetic rubber. Synthetic Rubber to Generate $45 billion Revenue of Global Rubber MarketThe synthetic rubber market is expected to generate over $45 billion in revenue by 2028. Thailand, Indonesia, China, and South Korea Produces More than 43% Revenue of Rubber MarketGlobal rubber production is pegged at 27.3 million tons. Thailand is the world’s largest producer of natural rubber in the global rubber market with an output of 4.3 million tons in 2021. China is the largest producer in the global synthetic rubber market, and manufactures around two-thirds of the world’s rubber products.
Continue reading...