Guayule Rubber: Introduction

  • Guayule (Parthenium argentatum Gray) is an arid-adapted, low-input perennial shrub native to Mexico and southern Texas that has received considerable attention as an alternative source of natural rubber. It has potential to replace the most common types of rubbers, including synthetic rubber derived from petroleum and natural rubber, which is tapped from Hevea (Hevea brasiliensis) trees grown in tropical regions, primarily Southeast Asia. It is soluble in alcohol and is used in the production of curing agents, adhesives, and coating materials. Furthermore, guayule rubber structures are utilized to produce raw materials for engineering plastics such as polyimides as well as cross-linking agents for alkyd resins.
  • Guayule rubber is comparable in quality to Hevea natural rubber and the residual, non-latex guayule plant material can be transformed into valuable co-products, such as bioenergy. Guayule rubber is utilized as a source of rubber for making balls for games, which were attributed to the indigenous people of the Americas during the Mayan civilization. The plant was chewed to separate the fibrous material from the resin.

Key Drivers and Restraints of Guayule Rubber Market

  • Guayule rubber is extensively utilized in the automotive sector. Tire demand is expected to increase in conjunction with global population growth and the rise of motorization in developing nations. Increase in the demand for vehicles across all segments among consumers fuels the production of automobiles and tires associated with it. Furthermore, consolidation of the global automotive sector, due to mergers and acquisitions among international and domestic vehicle manufacturers, boosts the automotive sector and subsequently, augments the automotive tire market. Increasing demand for tire applications is expected to fuel the global guayule rubber market in the next few years.
  • Rising demand for guayule rubber for agriculture is expected to create significant opportunities for the guayule rubber market in the near future. Pesticides are chemicals used to eliminate or control a variety of pests related to agriculture that can damage crops and livestock and reduce farm productivity. Agricultural chemicals (also known as agrochemicals) are chemical agents such as fungicides, herbicides and insecticides that are used to control crop-harming organisms (e.g., fungi, mites, insects, insect eggs and larvae) or viruses. Several guayule rubber products are also used in coatings and adhesives in order to improve their critical properties and to create a protective barrier against deterioration of the surface due to its reaction with its environment. Extensive usage of guayule rubber in diverse end-user industries is expected to boost the guayule rubber market in the near future.

Guayule Rubber: Product Type Segment

  • In terms of product type, the global guayule rubber market can be divided into latex, crude rubber, resin, and others
  • The product type latex is used in the medical, automotive, and construction industries due to its high durability and long lifecycle, making it a more cost-effective choice than other guayule rubber product types. Increasing focus on reducing carbon footprint by using sustainable green products in end-user industries is expected to propel the guayule rubber market during the forecast period, owing to a rise in the demand for latex in the automotive industry.
  • The resin segment is projected to follow the latex product type segment during the forecast period. Resins are widely used in building as adhesives, coatings, or as a construction material when a strong bond is required. High demand for coating and adhesive applications is driving the global guayule rubber market.

Guayule Rubber: Application Segment

  • Based on application, the global guayule rubber market can be segmented into automotive, agriculture, coating and adhesive, and others.
  • The automotive segment is projected to gain higher share of the global market during the forecast period. A large amount of guayule rubber is consumed in the automotive sector such as in tire applications. Leading automotive manufacturers continue to invest in developing countries due to low labor costs, which further reduces production costs and helps meet increased vehicle demand. The tire industry has been expanding exponentially for the last decade, due to increased demand for automobiles and the use of collaborative and consolidation manufacturing in the tire industry. This factor is projected to boost the global market for guayule rubber in the next few years.
  • The agriculture segment is projected to hold a key share of the global guayule rubber market in the near future. Rise in population, decline in arable land, food security, and the need for enhanced agricultural productivity are major factors driving the demand for higher agricultural output, thereby boosting agriculture industry. This factor is projected to propel the global guayule rubber market during the forecast period.

COVID-19 Impact on Guayule Rubber Market

  • On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
  • Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic.
  • Manufacturing of various consumer goods and other products across the globe came to a halt due to the unavailability of raw materials, shortage of labor, and other reasons. This is expected to hamper the guayule rubber market.

Asia Pacific to Hold Leading Share of Guayule Rubber Market

  • In terms of region, the guayule rubber market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific is expected to hold a major share of the global guayule rubber market, followed by Europe, and North America during the forecast period. This can be attributed to rise in applications of guayule rubber in the automotive sector. Furthermore, low production costs, availability of economic labor, lenient emission and safety norms, and government initiatives for FDIs have led to the significant investment in Asia Pacific. Moreover, rising investments in the automotive industry is likely to propel the demand for guayule rubber and consequently, fuel the market.
  • The guayule rubber market in North America and Europe is projected to expand at a rapid pace in the near future

Key Manufacturers Operating in Guayule Rubber Market

The guayule rubber market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the guayule rubber market include:

  • Bridgestone Corporation
  • Yulex Corp.
  • Cooper Tire and Rubber Co.
  • Kumho Tire Co.
  • Toyo Tire & Rubber Co., Ltd.
  • The Yokohama Rubber Co., Ltd.
  • Sumitomo Rubber Industries Ltd.
  • Hankook Tires
  • Michelin SCA
  • Mason Rubber Co Inc

Guayule Rubber: Research Scope

Guayule Rubber Market, by Product

  • Latex
  • Crude Rubber
  • Resin
  • Others

Guayule Rubber Market, by Application

  • Automotive
  • Agriculture
  • Coating and Adhesive
  • Others

Global Guayule Rubber Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.

All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:

  • Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
  • Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
  • Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
  • Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.

The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to

  • North America, South America, and the Americas
  • Asia Pacific and Japan
  • Europe
  • Latin America
  • Middle East and Africa

The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:

  • What are the major recent trends that can influence the product life cycle and the RoI?
  • Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
  • Which micromarketing initiatives of leading players will bring in investments?
  • What can be the best framework and tools for PESTLE analysis?
  • Which regions will witness rise in new opportunities?
  • Which are the game-changing technologies being used to capture new revenue streams in the near future?
  • Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
  • What is the current and expected intensity of competition the market in the near future?

Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Guayule Rubber Market