What the impending rubber “apocalypse” means for the U.S. economy

What the impending rubber “apocalypse” means for the U.S. economy

Rubber is a critical raw material needed for car tires, personal protective equipment such as masks and gloves, and many more everyday products. Anytime you’re going anywhere, you’re using rubber. Now, supply chain disruptions have thrown the rubber industry into a tailspin.

“We could be on the cusp of a rubber apocalypse,” Ohio State University professor Katrina Cornish told CNBC.

The global natural rubber market was valued at nearly $40 billion in 2020, and demand for rubber is expected to increase. One analysis predicts the natural rubber market could be worth nearly $68.5 billion by 2026. One reason for the increased demand? Car tires.

Plus, the global economy is nearly completely dependent on this continent for its natural rubber supply.

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