Not surprisingly, the rest of the world is always quite keen to do business with the US rubber industry. For prospective investors, a solid base in the US market is an essential pre-requisite.
The US Rubber Product Manufacturing industry offers a wide variety of rubber based products, ranging from automotive components and roofing materials to shoe soles and office supplies. Over the five years to 2019, industry revenue is expected to rise at an annualized rate of 0.3% to $20.9 billion.
Steep drop in the price of natural and synthetic rubber inputs have constrained the US rubber industry’s performance of late. Strong recovery in the price of rubber inputs and continued demand from downstream markets are expected to support revenue growth during the current period, say market analysts, adding that, however, a steep drop in the price of rubber is expected to lead the industry revenue to stagnate in 2019.
The Rubber Products Manufacturing in the US industry consists of automotive rubber components, rubber compounds and mixtures, industrial rubber products, other mechanical rubber components, foam rubber products etc.
Latest trends
Indonesia, Malaysia and Thailand produce the bulk of world's natural rubber, the raw material for rubber products manufactured by the industry. During periods of strong demand, operators can raise prices along with growth in rubber input prices, spurring industry revenue. The world price of rubber is anticipated to decline in 2019, posing a potential threat to the industry.
The trade-weighted index (TWI) measures the strength of the US dollar relative to the currencies of its trading partners. When the TWI rises, there is greater import competition and industry exports are relatively less competitive on the global market. The TWI is expected to decline in 2019, providing a potential opportunity for the industry.
This story is from the September - October 2019 edition of Rubber Asia.
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This story is from the September - October 2019 edition of Rubber Asia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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