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The Asia Pacific region is the largest market in the global natural rubber market owing to the rapid growth of the automobile industry and the increasing demand for latex products, namely gloves, toys, condoms, and other products. The growth in the regional automobile industry has led to an increase in demand for tyres, which in turn, is driving the growth of the natural rubber market in the Asia Pacific region, mainly in countries like India and China. In India, a 10% growth in the rubber output was seen in 2020 as compared to 2018, with the volume rising from 648,000 tons to 750,000 in just one year. The major supply markets in the Asia Pacific region are countries like Thailand, Indonesia, and Malaysia, with Thailand contributing 37% to the total market value, which is the leading share in the market.
Sri Trang Agro-Industry Plc. and Sumitomo Rubber Industries, Ltd. (OTCMKTS: SMTUF) are some of the major suppliers in the global natural rubber market. In March 2021, Sumitomo Rubber Industries, Ltd. announced that it had developed “Reduced Odor Natural Rubber” through its proprietary raw material processing technique at its plant in Thailand. Such developments in the market are expected to support the growth of the market in the coming years.
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The major players in the global natural rubber market are Sri Trang Agro-Industry Plc., Thai Rubber Latex Group Public Company Limited, Halcyon Agri Corporation Limited, Von Bundit Co., Ltd., and Southland Holding, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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