RubberSilver report

Published April 2026Insight Research13 min read2026 Edition12 sources, 12 primary-gradeStrong source depth

Thailand Natural Rubber Export Deep Dive

World's largest natural rubber producer, exporter. ~4.5-5.0M tonne/yr, USD 6-8B export value. Sri Trang, TRUBB, NER, Southland, Khaolaor. China, tire, glove, EU EUDR.

Key takeaways

1
Thailand is the world's largest natural rubber producer, exporter — ~4.5- tonnes/yr, ~ of global output, export value.
2
Product mix: STR/TSR block ~, concentrated latex ( DRC) ~, RSR/RSS smoked sheet ~, compound, skim ~, specialty, technical ~.
3
Destinations: China ~, Malaysia, India, Japan, Korea, EU, US split remainder.
4
Smallholder cultivation ~16- rai across South (Songkhla, Surat Thani, Trang, Nakhon Si Thammarat, Krabi), Northeast, East provinces; ~ smallholder farmer households.
5
Listed processors: Sri Trang Agro-Industry (SET: STA, world's largest, Sri Trang Gloves SET: STGT parent), Thai Rubber Latex (SET: TRUBB), Northeast Rubber (SET: NER), Southland Rubber. EU EUDR, Chinese demand, tire, glove, ITRC are the main variables.

Executive summary

Thailand is the world's largest natural rubber producer, exporter — ~4.5- tonnes/yr representing ~ of global natural rubber output; ~ export value. Product mix: Standard Thai Rubber (STR / TSR-Thai equivalent block grade — STR 5L, STR 10, STR 20) ~, concentrated latex ( Dry Rubber Content) ~, Ribbed Smoked Sheet (RSR/RSS) ~, compound rubber, skim ~, specialty, technical grade ~. Smallholder-driven cultivation: ~16- rai planted area across South (Songkhla, Surat Thani, Trang, Nakhon Si Thammarat, Krabi, Phatthalung, Chumphon — historic dominant region), Northeast (Buriram, Nong Khai, Loei, Sakon Nakhon, post-2000s expansion), East (Rayong, Chanthaburi, Trat — Eastern fruit-rubber adjacency). ~ smallholder farmer households tap rubber.^{[, , , ]}

Destinations: China ~ of Thai natural rubber export — Chinese tire industry, glove, footwear, automotive, Belt and Road infrastructure rubber demand; Malaysia ~ (Malaysian processor, tire, glove industry); India ~ (Indian tire industry, automotive, footwear); Japan, Korea ~ (Bridgestone, Sumitomo, Hankook, Kumho); EU ~ (Michelin, Continental, Pirelli, glove); US ~ (Goodyear, Cooper). Tire industry consumes ~ of global natural rubber demand; glove industry ~; automotive non-tire, footwear, medical, adhesive, industrial split remainder. Sri Trang Agro-Industry (SET: STA) is world's largest natural rubber processor, Sri Trang Gloves (SET: STGT) parent — vertically integrated rubber-to-glove model gives demand-pull from glove operations during tire-soft cycles.^{[, , , ]}

Industry structure: Sri Trang Agro-Industry (STA) ~ of Thai processed natural rubber, global #1; Thai Rubber Latex Group (SET: TRUBB) — concentrated latex specialist; Northeast Rubber (SET: NER) — focused on Northeast plantation source, lower cost base; Southland Rubber Group (private) — major processor; Khaolaor Latex; Vongbandit, Halcyon Agri (Singapore-listed) Thai operations. ~50+ midsize processors, traders, ~hundreds of smallholder cooperatives, middlemen. Regulation: Rubber Authority of Thailand (RAOT, formerly Office of the Rubber Replanting Aid Fund, Rubber Estates Organisation merger 2015) — production registration, smallholder support, price intervention, replanting subsidy; ITRC (International Tripartite Rubber Council Thailand-Indonesia-Malaysia) — supply coordination, price stabilisation; ANRPC (Association of Natural Rubber Producing Countries) — global production, trade data. EU Deforestation Regulation (EUDR) effective Dec 2024 (delayed implementation): rubber on EUDR commodity list; Thai rubber export to EU requires geo-traceability, due-diligence, non-deforestation since Dec 2020 — material compliance burden for smallholder, processor.^{[, , , , , ]}

RAOT, OAE, Customs, STA, TRUBB, NER, ANRPC, ITRC, UN Comtrade, EU EUDR, tire industry, SCB EIC

Data as of: FY2024-Q1 2026

Thai natural rubber export product mix (% of FY2024 export value)

STR/TSR Standard Thai Rubber (block)

Share %

38%

Context

STR 5L, STR 10, STR 20 block grade for tire, automotive

Concentrated latex (60% DRC)

Share %

28%

Context

Glove, dipped goods, medical, condom, carpet underlay

Ribbed Smoked Sheet (RSR/RSS)

Share %

18%

Context

Traditional sheet grade for tire, general rubber goods

Compound rubber, skim

Share %

10%

Context

Compounded specialty, skim from latex processing

Specialty, technical grade

Share %

Context

Technical specified rubber, specialty, engineering

Product	Share %	Context
STR/TSR Standard Thai Rubber (block)	38%	STR 5L, STR 10, STR 20 block grade for tire, automotive
Concentrated latex (60% DRC)	28%	Glove, dipped goods, medical, condom, carpet underlay
Ribbed Smoked Sheet (RSR/RSS)	18%	Traditional sheet grade for tire, general rubber goods
Compound rubber, skim	10%	Compounded specialty, skim from latex processing
Specialty, technical grade	6%	Technical specified rubber, specialty, engineering

RAOT, Customs, ANRPC, Sri Trang, TRUBB triangulation

Data as of: FY2024

Analyst framing

Why this report

Thai natural rubber is global #1, smallholder-driven, China-tire-glove-export, Sri Trang/TRUBB/NER processor-led, ITRC-coordinated, EU EUDR-compliance-pressured.

Producer, smallholder, tire/glove, EUDR, ITRC playbooks

Sri Trang Agro-Industry (SET: STA) — world's largest natural rubber processor by volume; ~30+ processing plants Thailand, Indonesia, Myanmar; integrated upstream-to-downstream including Sri Trang Gloves (SET: STGT) glove subsidiary (~3rd largest global glove producer post-Top Glove, Hartalega). Vertical integration provides demand-pull from glove operations during tire-soft cycles, cross-cycle hedge. Thai Rubber Latex Group (SET: TRUBB) — concentrated latex specialist; key supplier to glove, dipped-goods downstream. Northeast Rubber (SET: NER) — Northeast-focused processor with lower cost base, smallholder source proximity. Southland Rubber Group (private) — major Thai processor. Vongbandit, Halcyon Agri (SGX: HCA) Thai operations, smaller midsize processors, cooperative-owned mills.

Smallholder, plantation: Thailand has ~1.4M smallholder rubber farmer households cultivating ~16-18M rai. South region (Songkhla, Surat Thani, Trang, Nakhon Si Thammarat, Krabi, Phatthalung, Chumphon) is historic dominant rubber zone — high-yield cultivars (RRIM 600, RRIT 251, RRIT 226), tapping infrastructure, processing density. Northeast expansion post-2000s — government-subsidised replanting, plantation extension into Buriram, Nong Khai, Loei, Sakon Nakhon — adds volume but lower yield, higher cost vs South. East region (Rayong, Chanthaburi, Trat) co-existence with fruit cultivation. Smallholder economics: tapping yields ~250-350 kg/rai/yr; farmgate cup-lump price volatile with global price cycle (THB 25-60+/kg dry-rubber-content equivalent). Climate, leaf-fall disease (Pestalotiopsis), replanting cycle, smallholder labour are supply variables.

Tire, glove, EUDR, ITRC: Tire industry consumes ~70% of global natural rubber — Michelin, Bridgestone, Continental, Goodyear, Pirelli, Sumitomo, Hankook, Kumho, Yokohama, Apollo, MRF, Ceat all source from Thailand. Glove industry: Top Glove, Hartalega, Kossan, Supermax (Malaysian leaders), Sri Trang Gloves (Thai #3), Riverstone, WRP, Ansell, Adventa. Concentrated latex demand from glove industry surged during COVID 2020-2022, corrected 2023-2024 as glove inventory normalised. EU Deforestation Regulation (EUDR) effective Dec 2024 (delayed implementation 2025): rubber listed; Thai rubber export to EU requires geo-traceability, due-diligence, non-deforestation since Dec 2020; smallholder traceability, plot-level GPS, chain-of-custody compliance is the operational challenge. ITRC (Thailand, Indonesia, Malaysia) supply coordination, price stabilisation through AETS (Agreed Export Tonnage Scheme) historical mechanism — effectiveness debated. ANRPC global data, production discipline.

Scenarios to 2031

Bull: China, tire recovery, glove restock, EV tire demand

Export USD ~10B

Chinese economic recovery, tire production, Belt and Road infrastructure rubber demand all strong; glove restocking continues; EV tire (heavier vehicle, faster wear) drives natural-rubber demand uplift; EUDR compliance achieved without share loss.

Base case

Export USD ~7B

Steady demand from China, tire industry; glove demand normalised post-COVID; smallholder yield steady; ITRC coordination maintains floor.

Bear: Chinese softness, glove oversupply, EUDR friction, leaf disease

Export USD ~4-5B

Chinese tire weakness, glove oversupply persist; EU EUDR compliance friction loses share; leaf-fall disease compresses smallholder yield.

Unlock the full report

Producer, tire, glove, EUDR, ITRC playbooks, scenarios.

Unlock deep dive·$149-$199

Need more than the web report? Ask for a scoped export or source appendix.

Every report keeps visible citations and source metadata. Terms.

Related reports

Thailand Rubber Market Intelligence

Thailand produces approximately 4.5M tonnes of natural rubber annually — the world's largest producer at ~35% of global output. ~6M smallholder farmers tap rubber primarily in Southern Thailand, with growing Eastern, Northeast plantings. Sri Trang Agro-Industry (SET: STA) is the listed anchor, parent of Sri Trang Gloves (SET: STGT). Halcyon Agri (SGX-listed, Sinochem), Von Bundit, Southland Rubber, Thai Hua are the key processors. Major downstream consumers: Michelin Thailand, Bridgestone Thailand tyres, STGT medical gloves, automotive, industrial rubber. Rubber Authority of Thailand (RAOT) regulates, supports price stabilisation.

Open report →

Thailand Songkhla, Southern Rubber Export Deep Dive

Deep-dive into Thailand world's largest natural rubber producer, exporter ~4.5-5.0M tonne FY2024; Southern Thailand cluster (Songkhla, Surat Thani, Trang, Krabi, Phang Nga, Chumphon) dominates with ~70-75% of Thai rubber, plantation. Songkhla port, Hat Yai is regional rubber, glove processing, export hub. Sri Trang Agro-Industry (SET: STA) world's largest natural rubber processor, Sri Trang Gloves (SET: STGT) glove manufacturer, Songkhla-Hat Yai HQ. Thai Rubber Latex Group (SET: TRUBB), Northeast Rubber (SET: NER), Vongbandit Rubber, smaller. Rubber glove (medical, nitrile, latex) post-COVID demand normalisation; tire industry (Michelin, Bridgestone, Goodyear) anchor demand.

Open report →

Thailand Rubber Industry Natural Synthetic Market Intelligence

Thailand is the world's largest natural rubber producer at 4.79M tonnes (2024), feeding a USD 5B raw rubber export sector and a USD 7.4B tire export base. Sri Trang Agro-Industry (SET: STA, THB 114B FY2024 revenue) dominates midstream processing; Bridgestone, Michelin, Continental, and Goodyear operate large-scale tire plants via BOI incentives. Report maps the full value chain from 1.68M smallholders through processing to downstream tire and glove manufacturing, with operator concentration analysis, EUDR compliance readiness, rubber price cycle dynamics (THB 50-90/kg), and scenario modelling to 2031.

Open report →

Thai Rubber Glove and Medical Glove Export: Sri Trang Gloves and the Post-COVID Market Reset

Thai rubber glove, medical glove export industry runs ~USD 1.5-2.5B annual export FY2024 (rolling 2024-2025 estimates; volatile post-COVID). Tier-1 Thai anchor: Sri Trang Gloves (STGT SET-listed; subsidiary of Sri Trang Agro-Industry STA SET-listed; tier-1 Thai medical-glove producer). Tier-2 foreign-affiliated Thailand: Top Glove Thailand (Malaysian Top Glove-affiliated; world's #1 glove producer overall), Hartalega Thailand (Malaysian Hartalega-affiliated), Kossan Thailand (Malaysian Kossan-affiliated). Thailand benefits from natural-rubber, nitrile latex feedstock (Sri Trang Agro-Industry STA tier-1 natural-rubber producer). Major export markets: US (~30-35%), EU (~20-25%), Japan (~10-15%), ASEAN (~10%), Latin America, GCC, Africa (~15-20%). Post-COVID 2020-2022 boom: glove-prices spiked 3-5x; Sri Trang Gloves IPO 2020 raised significant capital. Post-2022 normalisation: prices reverted; Malaysian Top Glove, Hartalega capacity reduction; Thai Sri Trang Gloves restructuring 2024-2025. Watchpoints: post-COVID demand normalisation, Malaysian Top Glove, Hartalega competitive intensity, US 19% tariff impact, EU CSDDD compliance, nitrile-vs-natural-latex transition.

Open report →