What opportunities exist for the growth and expansion Rubber and Rubber-based product industry?

The rubber and rubber-based product industry in Sri Lanka is a vital sector that offers significant opportunities for growth and expansion. The industry is primarily focused on the production of natural rubber, which is grown on plantations across the island. Sri Lanka is one of the world’s leading producers of natural rubber, and the industry employs over one million people, making it a significant source of employment in the country.

One opportunity for growth and expansion in the rubber industry in Sri Lanka is the development of new rubber-based products. The country has a long history of rubber production, and there is potential to develop new products that can be exported to international markets. For example, the development of eco-friendly rubber products such as biodegradable rubber could open up new market opportunities.

Another opportunity for growth and expansion is the increase in rubber exports. The country’s rubber industry is primarily focused on the production of three types of rubber: Latex, Ribbed Smoked Sheet (RSS) and Crepe. Latex is the most commonly produced type of rubber in Sri Lanka, accounting for around 70% of total rubber production. With the increasing demand of rubber in the global market, Sri Lanka can increase its export of rubber to other countries.

The development of new technologies in the rubber industry also offers opportunities for growth and expansion. For example, the use of precision agriculture techniques in rubber production can increase yields and improve the quality of rubber. Additionally, the use of new technologies in rubber processing can improve the efficiency and quality of rubber-based products.

In conclusion, the rubber and rubber-based product industry in Sri Lanka is a vital sector that offers significant opportunities for growth and expansion. The development of new rubber-based products, increase in rubber exports, and the development of new technologies in the rubber industry are some of the opportunities that exist for growth and expansion in the rubber industry in Sri Lanka.

Key takeaways:

• The rubber and rubber-based product industry in Sri Lanka is a vital sector that offers significant opportunities for growth and expansion.
• The development of new rubber-based products such as biodegradable rubber can open up new market opportunities.
• Increasing exports of rubber to other countries can also be an opportunity for growth and expansion.
• The use of precision agriculture techniques and new technologies in rubber production and processing can improve efficiency, increase yields and improve the quality of rubber-based products.