Generally, the production of automotive tires largely constitutes the marketability of rubber.
However, the segmented tire applications in the automobile industry will also fuel rubber prices. Additionally, the electric car competition among Asian and Western companies will drive a significant market for this commodity.
Overall, the global rubber market will continue to grow in the coming years due to the growing demand from the automotive, tire, and construction industries.
Thus, market analysts predicted bullish rubber prices in 2030, amounting to $2.25 per kilogram.