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…