Rubber, elastic substance obtained from the
exudation of certain tropical plants (natural rubber) or derived from
petroleum and natural gas (synthetic
rubber). Because of its elasticity, resilience,
and toughness, rubber is the basic constituent of
the tires used in automotive vehicles, aircraft, and bicycles.
More than half of all rubber produced goes into automobile tires; the rest goes into mechanical parts such as mountings, gaskets, belts, and hoses, as well as consumer products such as shoes, clothing, furniture, and toys.
Apart from Latex, the rubber tree produces seeds and wood which are also
of economic value to the farmers. The rubber seeds when processed produce oil
alkyd resins used for paints, soaps, skin cream and hair shampoo.
Rubber economic importance cannot be overemphasized. The global
industrial rubber market size was valued at billions of USD in 2018 and is growing
at a CAGR of 5.2%.
To further create the awareness of its importance and attract
investors to tap into the opportunities in investing in rubber, Globe Chamber
of Commerce and Industries and her other partners in the business of improving the
world economy will be organizing World Rubber and Plastic Expo.
No comments:
Post a Comment