Global rubber market production forecast to increase by 5.9% CAGR during 2013 to 2018
Global Rubber Market 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-11 09:35:04
The Global Rubber market is forecast to grow at a CAGR of 5.89 percent and 6.36 percent on the basis of production and consumption, respectively, over the period 2013-2018. One of the key factors contributing to this market growth is the increasing demand for disposable medical gloves. The Global Rubber market has also been witnessing the increasing demand for synthetic rubber from the emerging economies. However, the increasing demand of natural disasters and adverse weather conditions could pose a challenge to the growth of this market.
Key vendors dominating this space are BASF SE, Styron LLC, Thai Rubber Latex Corp., and The DOW Chemical Co.
Other vendors mentioned in the report are Advance Multitech Ltd., Advance Petrochemical Ltd., Ansell Ltd., Asahi Kasei Corp., Bando Chemical Industries Ltd., Bridgestone Corp., Behn Meyer Group, China National Petroleum Corp., Convex Latex Pvt. Ltd., HLL Lifecare Ltd., Hwafong Rubber Thailand Public Co. Ltd., Lanxess AG, LG Chem Ltd., Nishikawa Rubber Co. Ltd., Nordion Inc., RFB Rubber Ltd., Shun Thai Rubber Gloves Industry Public Co. Ltd., Sinopec Ltd., Sumitomo Chemical Co. Ltd., St. Marys Rubbers Pvt. Ltd., Synthos S.A., Textile Rubber & Chemical Co. Inc., Tianjin Lugang Petroleum Rubber Co. Ltd., Versalis S.p.A, and Wacker Chemie AG.
The following companies represent the key players in Global Rubber Market: BASF SE, Styron LLC, Thai Rubber Latex Corp., and The DOW Chemical Co.
The demand for synthetic rubber is estimated to increase at a steady pace in the future due to the growing demand from emerging economies. The APAC region is the largest synthetic rubber consumer, with China being the leader in synthetic rubber production and consumption. The rubber market in the APAC region is expected to grow at a rapid pace during the forecast period. It is expected to account for more than 50 percent of the production and consumption of synthetic rubber with the increasing demand for synthetic rubber in the Automobile sector, and the Construction and Tire industries.
The major driver in this market is the increasing demand for disposable medical gloves. Disposable medical gloves are eco-friendly and reduce the risk of allergies and contamination-related infections to the user. They are made from natural rubber and are safe and secure to use in medical activities. The awareness of this fact among end-users is increasing their demand and propelling the growth of the Global Rubber market.
Further, the major challenge faced by the market is the threat from natural disasters and adverse weather conditions. These conditions will decrease raw material supply and increase raw material prices.
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