Natural Rubber And Gum Market

The global natural rubber and gum market is expected to see continued growth driven by increasing demand worldwide. Market performance is forecasted to accelerate with an anticipated CAGR of +2.8% in volume and +4.7% in value from 2022 to 2030, reaching a market volume of 18M tons and value of $38.9B by 2030. Consumption, production, exports, and imports have all shown positive trends over the years, with countries like Thailand, Indonesia, and China leading in consumption and production. Thailand remains the largest exporter of natural rubber and gums, while China is the main importer. Prices and yields have seen fluctuations over the years, with some countries experiencing significant growth rates. Overall, the global market for natural rubber and gum is on a positive trajectory and is expected to continue growing in the coming years.

Market Forecast

Driven by increasing demand for natural rubber and gums worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.8% for the period from 2022 to 2030, which is projected to bring the market volume to 18M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.7% for the period from 2022 to 2030, which is projected to bring the market value to $38.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Natural Rubber And Gum

Global natural rubber and gum consumption was estimated at 15M tons in 2022, therefore, remained relatively stable against 2021 figures. The total consumption volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2019 with an increase of 3.1% against the previous year. Over the period under review, global consumption attained the peak volume in 2022 and is likely to continue growth in years to come.

The global natural rubber and gum market revenue contracted slightly to $26.8B in 2022, leveling off at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a slight reduction. Global consumption peaked at $31.1B in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Thailand (3.7M tons), Indonesia (3.2M tons) and China (1.5M tons), together comprising 57% of global consumption. Vietnam, Cote d'Ivoire, India, Malaysia, the Philippines, Cambodia, Myanmar, Lao People's Democratic Republic and Brazil lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of +22.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Thailand ($4.6B), Indonesia ($4.4B) and Brazil ($4B) appeared to be the countries with the highest levels of market value in 2022, together accounting for 49% of the global market. The Philippines, China, Malaysia, Vietnam, India, Cote d'Ivoire, Cambodia, Myanmar and Lao People's Democratic Republic lagged somewhat behind, together comprising a further 43%.

Among the main consuming countries, Lao People's Democratic Republic, with a CAGR of +19.0%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of natural rubber and gum per capita consumption in 2022 were Thailand (53 kg per person), Cote d'Ivoire (33 kg per person) and Cambodia (23 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Lao People's Democratic Republic (with a CAGR of +20.9%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Natural Rubber And Gum

Global natural rubber and gum production amounted to 15M tons in 2022, surging by 3.4% on the previous year's figure. The total output volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, production attained the peak volume and is likely to continue growth in the immediate term. The general positive trend in terms output was largely conditioned by a mild expansion of the harvested area and a slight shrinkage in yield figures.

In value terms, natural rubber and gum production stood at $27.3B in 2022 estimated in export price. In general, production, however, continues to indicate a slight decrease. The pace of growth was the most pronounced in 2017 when the production volume increased by 29% against the previous year. Over the period under review, global production reached the peak level at $31.4B in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Thailand (4.8M tons), Indonesia (3.1M tons) and Vietnam (1.3M tons), with a combined 61% share of global production. Cote d'Ivoire, India, China, the Philippines and Cambodia lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Cambodia (with a CAGR of +19.9%), while production for the other global leaders experienced more modest paces of growth.

Yield

In 2022, the global average yield of natural rubber and gums totaled 1.1 tons per ha, remaining relatively unchanged against the previous year's figure. Over the period under review, the yield, however, saw a slight descent. The pace of growth appeared the most rapid in 2021 with an increase of 1.2%. Over the period under review, the average natural rubber and gum yield hit record highs at 1.2 tons per ha in 2012; however, from 2013 to 2022, the yield remained at a lower figure.

Harvested Area

In 2022, approx. 14M ha of natural rubber and gums were harvested worldwide; growing by 2.7% on 2021. The harvested area increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2020 when the harvested area increased by 4.5%. Over the period under review, the harvested area dedicated to natural rubber and gum production attained the maximum in 2022 and is expected to retain growth in the immediate term.

Imports

World Imports of Natural Rubber And Gum

For the third year in a row, the global market recorded growth in purchases abroad of natural rubber and gums, which increased by 1.7% to 1.4M tons in 2022. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 13% against the previous year. Over the period under review, global imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, natural rubber and gum imports fell to $2.2B in 2022. In general, imports, however, recorded a perceptible slump. The pace of growth was the most pronounced in 2017 with an increase of 33% against the previous year. Over the period under review, global imports hit record highs at $3.2B in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports By Country

China represented the main importer of natural rubber and gums in the world, with the volume of imports reaching 658K tons, which was near 46% of total imports in 2022. It was distantly followed by Malaysia (287K tons), generating a 20% share of total imports. The following importers - the United States (40K tons), Belgium (34K tons), Brazil (33K tons), the Netherlands (31K tons), Mexico (30K tons), Iran (28K tons), Turkey (28K tons) and Italy (25K tons) - together made up 18% of total imports.

Imports into China increased at an average annual rate of +7.6% from 2012 to 2022. At the same time, Iran (+15.1%), the Netherlands (+14.5%), Turkey (+5.0%), Mexico (+4.3%), Italy (+2.3%) and Brazil (+1.4%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing importer imported in the world, with a CAGR of +15.1% from 2012-2022. By contrast, the United States (-1.0%), Malaysia (-1.4%) and Belgium (-6.3%) illustrated a downward trend over the same period. China (+18 p.p.) significantly strengthened its position in terms of the global imports, while Belgium and Malaysia saw its share reduced by -3.3% and -9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($799M), Malaysia ($617M) and the United States ($63M) appeared to be the countries with the highest levels of imports in 2022, together accounting for 66% of global imports. Brazil, the Netherlands, Belgium, Mexico, Italy, Turkey and Iran lagged somewhat behind, together comprising a further 16%.

In terms of the main importing countries, the Netherlands, with a CAGR of +9.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average natural rubber and gum import price stood at $1,568 per ton in 2022, dropping by -7.1% against the previous year. In general, the import price saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 an increase of 21% against the previous year. Global import price peaked at $2,796 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($2,151 per ton), while China ($1,214 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (-2.6%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Natural Rubber And Gum

In 2022, the amount of natural rubber and gums exported worldwide surged to 2M tons, growing by 21% against the previous year's figure. The total export volume increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, natural rubber and gum exports expanded remarkably to $2.3B in 2022. Overall, exports, however, continue to indicate a mild shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 35%. The global exports peaked at $2.8B in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports By Country

Thailand represented the largest exporter of natural rubber and gums in the world, with the volume of exports recording 1.1M tons, which was near 57% of total exports in 2022. Cote d'Ivoire (376K tons) took the second position in the ranking, followed by Vietnam (282K tons). All these countries together took near 34% share of total exports. Guatemala (66K tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to natural rubber and gum exports from Thailand stood at +1.5%. At the same time, Cote d'Ivoire (+95.2%), Vietnam (+17.9%) and Guatemala (+5.4%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in the world, with a CAGR of +95.2% from 2012-2022. From 2012 to 2022, the share of Cote d'Ivoire and Vietnam increased by +19 and +10 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($1.4B) remains the largest natural rubber and gum supplier worldwide, comprising 58% of global exports. The second position in the ranking was taken by Vietnam ($320M), with a 14% share of global exports. It was followed by Cote d'Ivoire, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Thailand amounted to -3.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+11.3% per year) and Cote d'Ivoire (+69.3% per year).

Export Prices By Country

In 2022, the average natural rubber and gum export price amounted to $1,196 per ton, declining by -13% against the previous year. In general, the export price saw a abrupt decline. The pace of growth was the most pronounced in 2017 when the average export price increased by 26% against the previous year. Over the period under review, the average export prices hit record highs at $2,243 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($1,403 per ton), while Cote d'Ivoire ($812 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (-4.2%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform