What The Rubber ‘Apocalypse’ Means For The U.S. Economy

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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.”» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassicAbout CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Subscribe to CNBC PRO: https://cnb.cx/2NLi9ANWhat The Rubber ‘Apocalypse’ Means For The U.S. Economy#CNBC

Why We Can’t Ignore Our Dreams Breaking News

On Mar. 14, 44 B.C.E., Julius Caesar dreamed of flying up through the clouds, until being warmly received by Jupiter. His wife, Calpurnia, however, had a nightmare in which he got stabbed. The following morning, she urged him not to leave home, but he ignored her warning and was slaughtered. Both dreams were precognitive: while…

Atari wants to be a real estate whale in the Metaverse Breaking News

“For us it’s almost like having a store on 5th avenue”. Atari is gearing up to celebrate its 50th anniversary, and appropriately enough the company is kicking off its half-century birthday not in the physical world, but in the metaverse. Specifically, it is hoping to capitalize off of the “land” it owns in virtual worlds […]

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Colin Powell: Former US secretary of state dies aged 84 Videos

Former US Secretary of State Colin Powell has died of Covid-19 complications aged 84.Mr Powell, who served in the role under George W. Bush, passed away on Monday. He was fully vaccinated."We have lost a remarkable and loving husband, father, grandfather and a great American," his family said in a statement.President Joe Biden also paid tribute after his passing, calling Mr Powell a "dear friend" who had embodied the "highest ideals of both warrior and diplomat".For more US news visit Independent TV: https://www.independent.co.uk/tv/us-newsLike us on Facebook: https://www.facebook.com/TheIndependentOnline Follow us on Twitter: https://twitter.com/Independent Follow us on Instagram: https://www.instagram.com/the.independentSubscribe to Independent Premium for exclusive content and live events: https://bit.ly/2MiOONB

Tilray Stock Is Still Poised to Turn Over a New Leaf Breaking News

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U.S. legalization, and Tilray’s global expansion efforts could enable TLRY stock to climb significantly above its current levels.
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