What is the future outlook for Rubber and Rubber-based product industry in Sri Lanka?

The future outlook for the rubber and rubber-based product industry in Sri Lanka is expected to be positive, with a number of opportunities for growth and expansion.
One of the main opportunities for the industry is the increasing global demand for sustainable products. As more and more consumers become aware of the environmental impact of products, they are increasingly choosing products that are made from sustainable materials such as rubber. This presents an opportunity for the rubber and rubber-based product industry in Sri Lanka to expand its market by promoting its sustainable practices.
Another opportunity for the industry is the growing demand for rubber-based products in the construction industry. Rubber-based products such as roofing sheets and flooring are becoming increasingly popular in the construction industry as they are durable, long-lasting and environmentally friendly.
The industry is also expected to benefit from the increasing focus on research and development. With the support of organizations such as the Rubber Research Institute of Sri Lanka (RRISL) the industry will be able to improve the quality of rubber produced and develop new products.
The Government of Sri Lanka is also promoting the rubber industry as a key sector for the economy and providing various facilities for the development of the industry. This includes providing credit facilities for small and medium scale rubber-based product manufacturers and supporting the research and development activities of the industry.
In conclusion, the future outlook for the rubber and rubber-based product industry in Sri Lanka is positive, with a number of opportunities for growth and expansion. The increasing global demand for sustainable products, growing demand for rubber-based products in the construction industry and the focus on research and development and government support are the key drivers for the growth of the industry.
Note:
• The increasing global demand for sustainable products is an opportunity for the rubber and rubber-based product industry in Sri Lanka to expand its market.
• The growing demand for rubber-based products in the construction industry is another opportunity for the industry.
• The industry is expected to benefit from the increasing focus on research and development.
• The Government of Sri Lanka is promoting the rubber industry as a key sector for the economy and providing various facilities for the development of the industry.