Tech
What The Rubber ‘Apocalypse’ Means For The U.S. Economy
The global economy now faces a rubber shortage because of multiple supply chain disruptions. “We could be on the cusp of a rubber apocalypse,” Ohio State University professor Katrina Cornish told CNBC. Rubber producers are working against all odds: climate change, disease and the fight for shipping containers. The global rubber market was valued at nearly $40 billion in 2020, but one analysis predicts the natural rubber market could be worth nearly $68.5 billion by 2026.
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.
Rubber producers are facing climate change, the Covid-19 pandemic, a destructive fungus and the fight for shipping containers.
The global economy remains dependent on Asia for 90% of the natural rubber supply. For example, the U.S. imported $140 million worth of natural rubber in March 2021 alone, according to Census data.
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.
“We are using tires more and more,” Stefano Savi, director of the Global Platform for Sustainable Natural Rubber, told CNBC. “The amount of mileage that we’re going to do as a global population is definitely bound to increase, and that’s why the demand for rubber is really continuing to increase.”
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What The Rubber ‘Apocalypse’ Means For The U.S. Economy
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@KevinDarty
January 11, 2024 at 10:32 pm
Anybody notice how comments in this video are all one and two years old?
Manufactured "crisis" intended to increase sales, just like the great Turkey shortage that comes up every other year 🙄
@Nodmadtroy
January 11, 2024 at 10:32 pm
You wont take rubber from the road! Not my Job! AMERICAN auto workers!
@Leila_love
January 11, 2024 at 10:32 pm
Damn I never even knew rubber came from trees
@miorfaizulsabki6667
January 11, 2024 at 10:32 pm
2023 Malaysia..still USD0.40 per kilogram farmers price and you telling rubber shortage?
@wildmanofthewynooch7028
January 11, 2024 at 10:32 pm
As of today tire manufatures are running into problems now. two major manufactures Michellin and Continental have ran out of some of their tires and will not have them back in stock till December of 2023.
@adamgoof
January 11, 2024 at 10:32 pm
Now Tire was like about 80 bucks now it’s about $200 fire stone
@jordankendall86
January 11, 2024 at 10:32 pm
I believe this is the first time watching this video and now I am commenting a year later after it was posted. I bought 8 tires new for my two vehicles and didn't see a noticeable difference in the price of tires from years ago. Even with inflation, tires seem reasonably priced. But if prices shoot up, then I am glad I bought my tires now. Thanks for sharing CNBC. Love the content.
@deannaspencer8988
January 11, 2024 at 10:32 pm
All Stores 900,000 Please Lower the price of all Brands of Military Equipment and Local for All Brands of Rubber Products and Production Cost Now 900,000 That's Too Much $$ 900,000 Now The Whole World 900,000 Now 🙏 🤲 🕍 🕌 ⛪ 🛕
@humanguu9121
January 11, 2024 at 10:32 pm
Artificial rubber is very harmful compared to natural rubber. Artificial rubber comes from Petroleum based product which is non-biodegradable toxic for environment.
Meanwhile, Natural rubber promotes farmers to Plant more rubber trees which is good for environment & farmers can earn their livelihood.
@daharos
January 11, 2024 at 10:32 pm
This is ridiculous. The trees are native to S America. Maybe there should be investment so it can grow commercially in its own natural habitat? Also, lots closer to USA from S America than Thailand and Malaysia. Ridiculous.
@johntravena119
January 11, 2024 at 10:32 pm
Y’all finding excuses to make everything more expensive.
@arnoldchristoper5025
January 11, 2024 at 10:32 pm
Despite growing demand, the price of natural rubber are quite low. Both farmers and manufacturers are suffering from low profit. Any idea why?
@jimhenry6844
January 11, 2024 at 10:32 pm
Nearly all tires are made from multiple compounds of rubber,most are SEB's SBS's and others plus latex from tree sap.
@ashram12
January 11, 2024 at 10:32 pm
Before we talk about prices needing to stay up, I think we should look at who profits most from the rubber trade if it's not the actual farmers.
@debweissler7808
January 11, 2024 at 10:32 pm
There are enough tires stacked in yards throughout the South & Midwest that can be recycled fir the next 100 years!
@davetoal4629
January 11, 2024 at 10:32 pm
Can we get to the problem
@mrmustangman
January 11, 2024 at 10:32 pm
you've got to be kidding me.!!!!!!! now we're running out of this too.???? WTF.?!?!?!?!?
@bargdaffy1535
January 11, 2024 at 10:32 pm
Why wouldn't we just use Folks Lawns to produce Dandelions and the City or County can harvest the Latex and sell for money for Schools and such. Like a Property Tax, you now have to have a "Productive Lawn" instead of a completely "Destructive Lawn" Ohio State and all Universities are Corporations, grow up Folks.
@hairlessharescrambler56
January 11, 2024 at 10:32 pm
I don't contribute to the rubber shortage I have never worn a rubber
@cliffsmith7002
January 11, 2024 at 10:32 pm
It was not covid. It was the tyrannical government's knee jerk overreaction reaction to the flue.
@lifeishooey
January 11, 2024 at 10:32 pm
Oh no! Now I gotta run out and buy out the store in underwear and 50 years worth of tires for two cars while I still got a few bucks.
@irishslave51
January 11, 2024 at 10:32 pm
There is no shortage of anything… It's just being held back…
@jennifersmall4027
January 11, 2024 at 10:32 pm
Engineered scarcity.
@mhyerjabir1418
January 11, 2024 at 10:32 pm
HERE IN THE PHILIPPINES
JUST 57USD PERKILO THE RUBBERS….😢
@muhammadhanif4113
January 11, 2024 at 10:32 pm
In indonesia the local prize is too low,now people cutting it all and move to palm oil plantation.
@MrJoaniejoan
January 11, 2024 at 10:32 pm
Is making rubber good for the environment? Thank you for this information
@MrJoaniejoan
January 11, 2024 at 10:32 pm
So many questions
What about recycling rubber? Can old tires make new tires ? Why are the farmers in Asia only paid $6 a day ??
@johngalt3940
January 11, 2024 at 10:32 pm
Why can’t Congo grow rubber
@eugenehardy1597
January 11, 2024 at 10:32 pm
Well, a good start would be to pay rubber farmers better than a living wage.
@lowcostleads7244
January 11, 2024 at 10:32 pm
Climate change my @$$!
@jasonjohnson9810
January 11, 2024 at 10:32 pm
All of these vacant warehouses and malls would make perfect abstraction of rubber from dandelions?
@americannomadnewsthecardbo4339
January 11, 2024 at 10:32 pm
During world war II when the Germans were a severe threat with their submarine fleet in the Atlantic and the Pacific the allies resorted to a specific breed of dandelion that produced a latex of sufficient quality to make the tires and rubber materials needed for war. It is still being researched by enthusiasts today.
@nicolevanderheever8066
January 11, 2024 at 10:32 pm
I did not know that you can get so many products out of rubber
@ryanb1874
January 11, 2024 at 10:32 pm
Why dont they bandage up the tree, where it was previously cut, to prevent infection.
@ryanb1874
January 11, 2024 at 10:32 pm
We 're screwed, screwed by the wastefullness of corporations; the work of our hands ( and machines hehehe) screwed and scramscrougled…
@dionvanderheever9839
January 11, 2024 at 10:32 pm
Goeie rede om nou te recycle
@godsbeautifulflatearth
January 11, 2024 at 10:32 pm
Wrong use of the word apocalypse.
@ericpham7871
January 11, 2024 at 10:32 pm
Human ash make up for the shortage of tire
@SpencerGD
January 11, 2024 at 10:32 pm
According to the person interviewed in this segment, rubber demand has gone up because of the pandemic… Dude, are you a bit thick in the head? If I'm not driving to work, not driving to the grocery store, etc. and instead someone else is driving to get my groceries + several other homes in my area, and driving to pick up takeout for myself + several other homes nearby, then there is only one vehicle's tires wearing out, instead of several vehicles' tires. So, if anything, rubber usage should be down. Likewise, there are far fewer flights today than pre-pandemic, so usage by airlines should also be lower, even with their increase in cargo flights.
@naughtykid8850
January 11, 2024 at 10:32 pm
usa is the biggest waster of gas in the world
its a big problem
In its relentless pursuit of oil, the shale industry burns more and more gas into the air. This wasted gas exceeds the yearly demand of nations such as Colombia.
The rate of flaring in the Permian basin reached a record high in the first three months of this year, averaging 661 million cubic feet per day (MMcfd), according to Rystad Energy. That is more than double the amount of flaring for the same period from a year earlier.
boycott usa until they stop wasting all the gas we have
boycott usa today
@lynnleigha580
January 11, 2024 at 10:32 pm
Fake news, it's just a way for these people to scare us
@lynnleigha580
January 11, 2024 at 10:32 pm
This dummy never heard of synthetic rubber, which is used WAAAAAY more than actual rubber
@lynnleigha580
January 11, 2024 at 10:32 pm
Oh, I forgot I was watching CNBC