Sunday, December 4, 2022

Email id: support@kenresearch.com, Contact Us : +91-9015378249

Home Metal Mining and Chemicals Chemicals Rise in Demand for Gloves Expected to Drive Vietnam Natural Rubber Industry:...

Rise in Demand for Gloves Expected to Drive Vietnam Natural Rubber Industry: Ken Research

Natural rubber is an elastic material that is obtained from the latex sap of trees, like genera Hevea, Ficus. This can be vulcanized and finished into various products used in daily purposes. It a vital agricultural commodity, which is used for manufacturing an extensive range of products. It is used in consumer good, automotive, manufacturing, and medical industries.

According to study, “Natural Rubber Comprehensive Report Q4/2019” the key companies operating in the Vietnam natural rubber industry are Dau Tieng Rubber Corporation, Dong Phu Rubber Joint Stock Company, Phuoc Hoa Rubber Joint Stock Company, Dongil Rubber Belt Company Limited Vietnam, Phu Rieng Rubber Company Limited, VRG Khai Hoan Joint Stock Company, Dong Nai Rubber Corporation, Vietnam-Italia Company Limited, Binh Duong Investment And Trade Joint Stock Company, Vietnam NOK Company Limited.

Based on type, the Vietnam natural rubber industry is segmented into concentrated latex, ribbed smoked sheets (RSS), solid block rubber, and others (crepe rubber and reclaimed rubber). Concentrated latex holds largest market share owing to its increased use in industrial applications. RSS natural rubber is generally made from unsmoked rubber sheets. RSS segment is further sub-segmented into RSS1, RSS2, RSS3, RSS4, and RSS5 that depend on elasticity, color, and purity where RSS1 type denotes the best quality of RSS natural rubber while RSS5 type denotes the least quality. In addition, based on application, market is segmented into automobile tires and other automotive parts, conveyor belts, gloves, footwear, rubber pipes, and others for instance general and industrial rubber good. In addition, based on end-use industry, market is segmented into medical & healthcare sector, automotive industry and other industries. In medical & healthcare sector, the natural rubber is used for the treatment of degradation of extensive range of bacteria and products are manufactured for allergic reactions. In automotive industry, it is used for the manufacturing of tubes and tires. The automotive industry is expected to witness higher growth rate due to rise in application in the consumer goods and manufacturing industries such as footwear, cement industry, insulating blankets, balloons, air hoses, balls and cushions.

The Vietnam natural rubber industry is driven by rise in demand for gloves, followed by increase in middle class population, growth in automobile production is increasing the demand for car tires, rise in crude oil prices and increase in disposable income. However, threat of substitutability from synthetic rubber and volatility in raw material prices of petrochemicals are subjected to foreign currency exchange rates may impact the market. Moreover, growth in investments by research & development (R&D) is a key opportunity for market. Furthermore, rise in intense competition is a major challenge for market.

Currently, Vietnam is the third largest rubber exporter in the world, followed by Thailand and Indonesia owing to rise in product demand such as rubber and wood products,  natural rubber materials and furniture made from rubber wood in the country. China country continued to be Vietnam’s country largest export market. In upcoming years, it is projected that future of the Vietnam natural rubber industry will be bright as a result of increase in production of motorcycle tyres, agricultural tyres and bicycle tyres during the forecast period.

For More Information, click on the link below:-

Natural Rubber Market Research Report

Related Reports:-

Global Natural Rubber Compounding Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024

Natural Rubber Standard Report Q4/2019

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

ankur@kenresearch.com

+91-9015378249

RELATED ARTICLES

Global Synthetic Leather Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 – Ken Research

Buy Now Market Overview Artificial leather, often known as synthetic leather, is a material designed to replace real leather in applications such as upholstery, clothing, footwear,...

3 Key Insights on Competitive Landscape in the Global Green Chemicals Market: Ken Research

Buy Now Regional Players Dominate the Market Holding nearly 40% of Revenue Share Despite the Presence of about 200 Competitors Comprising Global Players, Regional Players,...

3 Key Insights on US$ 20 Bn Opportunity in the Global Nanomaterials Market – Ken Research

Buy Now Driven by the increasing demand for nanomaterials in the healthcare and electronics sectors among other end industries, growing investments in research & development...

Most Popular

The Global Smart Vending Machine Market Is Expected To Grow By ~US$ 15 Billion By 2028 Growing With A CAGR Of ~12% Of 24.94%...

Buy Now Market Overview A smart vending machine also known as intelligent vending machine is an automated machine that provides items such as snacks, beverages, packaged...

The Credit Disbursed in Vietnam Auto Finance Market is expected to reach more than VND 300 Tr during by 2026F owing to the Lower...

Buy Now Currently 73.5% of the population in Vietnam uses a smartphone. The country aims to increase the rate to 85% by the end...

Global Synthetic Leather Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 – Ken Research

Buy Now Market Overview Artificial leather, often known as synthetic leather, is a material designed to replace real leather in applications such as upholstery, clothing, footwear,...

Global Athleisure Market Expected to Reach Approximately US$ 450 billion by 2028: Ken Research

Buy Now Athleisure also categorized as hybrid clothing, refers to manufactured apparel that is frequently worn for athletic activities as well as in other contexts...