Vietnam’s rubber industry is a key contributor to the country’s economy, driven by its abundant natural resources and strong export demand. As one of the world’s leading producers and exporters of natural rubber, Vietnam supplies raw materials to global markets, including China, the United States, and Europe. The industry encompasses the cultivation of rubber plantations, the processing of natural rubber, and the production of rubber-based goods such as tyres, industrial parts, and consumer products.
The sector benefits from Vietnam’s favourable climate, extensive plantation areas, and government support through agricultural and export incentives. Natural rubber production forms the backbone of the industry, but the manufacturing of value-added rubber products has grown significantly in recent years, supported by increased investments and technological upgrades.
Despite its success, the industry faces challenges such as fluctuating global rubber prices, environmental concerns, and competition from synthetic rubber alternatives. However, efforts to diversify production, adopt sustainable practices, and strengthen global partnerships position Vietnam’s rubber industry for continued growth and resilience in the global market.
Vietnam’s rubber industry in numbers
Vietnam’s rubber industry is a significant contributor to the global rubber market, with the country ranking among the top exporters worldwide. Key statistics highlighting the industry’s performance include:
Vietnam’s rubber market
The Vietnam industrial rubber market was valued at US$188.35 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.02 percent through 2028, according to a report from Techsci Research.
Vietnam rubber production
Vietnam’s production of rubber and plastic products increased by 6.1 percent in December 2024 compared to November 2024, according to Vietnam’s Industrial Production Index.
Year-on-year, the sector posted a robust growth of 20.7 percent in December compared to December 2023. For the full year of 2024, cumulative growth reached an impressive 24.9 percent compared to 2023, highlighting a strong annual performance.
Vietnam’s rubber import-exports
Vietnam’s rubber industry plays a pivotal role in the global market, with the country ranking among the top exporters worldwide.
Vietnam’s rubber imports, 2024 vs 2023, US$
| 2024 | 2023 | Change | |
| Total | 3,002,289,957 | 2,256,374,099 | 33.06% |
| Other | 211,619,548 | 124,687,808 | 69.72% |
| Cambodia | 1,119,500,483 | 888,116,799 | 26.05% |
| China | 410,912,489 | 268,050,643 | 53.30% |
| South Korea | 315,837,560 | 246,736,169 | 28.01% |
| Laos | 261,330,581 | 195,089,921 | 33.95% |
| Japan | 169,595,864 | 151,328,861 | 12.07% |
| Thailand | 168,860,635 | 109,460,132 | 54.27% |
| Taiwan | 143,296,284 | 124,187,305 | 15.39% |
| Indonesia | 55,863,661 | 41,728,425 | 33.87% |
| USA | 37,522,195 | 36,882,577 | 1.73% |
| Russia | 32,134,785 | 34,360,856 | -6.48% |
| Malaysia | 31,970,605 | 14,098,524 | 126.77% |
| Myanmar | 19,070,386 | 202,608 | 9312.45% |
| Germany | 10,454,670 | 5,624,709 | 85.87% |
| France | 9,686,817 | 12,184,876 | -20.50% |
| Belgium | 1,566,700 | 295,893 | 429.48% |
| Canada | 1,361,824 | 441,595 | 208.39% |
| Netherlands | 853,712 | 770,456 | 10.81% |
| UK | 823,114 | 312,887 | 163.07% |
| Poland | 28,044 | 1,813,055 | -98.45% |
Source: Vietnam Imports Tracker
Vietnam rubber imports by month
| 2024 | 2025 | ||
| October | January | April | July |
| November | February | May | August |
| December | March | June | September |
Vietnam’s rubber exports, 2024 vs 2023, US$
| 2024 | 2023 | Change | |
| Total | 3,419,502,445 | 2,892,425,515 | 18.22% |
| Other | 114,778,166 | 54,848,418 | 109.26% |
| China | 2,442,970,072 | 2,271,113,219 | 7.57% |
| India | 211,899,164 | 156,688,157 | 35.24% |
| South Korea | 76,248,179 | 72,541,301 | 5.11% |
| Germany | 60,735,891 | 37,475,317 | 62.07% |
| Malaysia | 56,164,624 | 9,122,810 | 515.65% |
| USA | 51,600,526 | 36,783,722 | 40.28% |
| Taiwan | 50,129,434 | 36,395,555 | 37.74% |
| Indonesia | 50,005,777 | 25,240,162 | 98.12% |
| Russia | 45,416,077 | 31,306,812 | 45.07% |
| Turkey | 43,877,800 | 31,607,722 | 38.82% |
| Sri Lanka | 40,880,677 | 16,886,130 | 142.10% |
| Brazil | 26,248,514 | 12,592,002 | 108.45% |
| Italy | 21,932,302 | 11,541,216 | 90.03% |
| Japan | 21,781,298 | 16,338,438 | 33.31% |
| Spain | 17,718,356 | 12,201,678 | 45.21% |
| Pakistan | 16,026,169 | 9,858,460 | 62.56% |
| Netherlands | 14,259,816 | 14,240,828 | 0.13% |
| Canada | 13,131,942 | 10,511,080 | 24.93% |
| France | 11,027,629 | 5,124,244 | 115.20% |
| Belgium | 7,982,605 | 2,481,433 | 221.69% |
| Mexico | 5,644,243 | 4,279,668 | 31.89% |
| Bangladesh | 5,542,654 | 3,260,477 | 70.00% |
| Peru | 4,684,227 | 2,396,752 | 95.44% |
| UK | 4,488,295 | 2,521,630 | 77.99% |
| Argentina | 1,772,247 | 2,628,828 | -32.58% |
| Finland | 1,155,548 | 583,632 | 97.99% |
| Singapore | 653,695 | 681,007 | -4.01% |
| Sweden | 608,125 | 446,292 | 36.26% |
| Czech Republic | 76,650 | 416,250 | -81.59% |
| Hong Kong | 61,743 | 312,275 | -80.23% |
Source: Vietnam Exports Tracker
Vietnam rubber exports by month
| 2024 | 2025 | ||
| October | January | April | July |
| November | February | May | August |
| December | March | June | September |
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Domestic rubber firms in Vietnam
Vietnam’s rubber industry is supported by several prominent domestic companies that play a significant role in both the national and international markets.
Vietnam Rubber Group (VRG)
Established in 1995, VRG is a state-owned enterprise managing over 390,000 hectares of rubber plantations. With more than 100 subsidiaries and over 81,000 employees, VRG annually produces nearly 500,000 tons of various rubber grades, contributing significantly to Vietnam’s position as a leading global rubber producer. citeturn0search6
Phuoc Hoa Rubber Joint Stock Company (PHURUCO)
PHURUCO is a major player in Vietnam’s rubber industry, known for its extensive plantations in the Southeast region, approximately 65 km from Ho Chi Minh City. The company has diversified its product range, including rubber latex, rubber wood, and raw latex for the petroleum industry, achieving substantial profits through this strategy.
Tan Bien Rubber Joint Stock Company (Tabiruto)
Founded in 1985 through the merger of Bac Tay Ninh Rubber Company and Thien Ngon Rubber Company, Tabiruto is a state-owned enterprise and a member of the Vietnam Rubber Group. The company manages significant plantation areas and focuses on producing high-quality natural rubber for various industries.
Dong Phu Rubber Joint Stock Company
Dong Phu Rubber is a subsidiary of the Vietnam Rubber Group, operating extensive rubber plantations and processing facilities. The company is recognized for its commitment to sustainable practices and high-quality rubber products, serving both domestic and international markets.
Hoa Binh Rubber Joint Stock Company
Specializing in the production of rubber parts for automotive, motorcycle, and industrial applications, Hoa Binh Rubber is known for its focus on quality and innovation. Their product range includes rubber bushings, mounts, gaskets, and vibration dampers, catering to a diverse clientele.
These domestic firms have been instrumental in the development and expansion of Vietnam’s rubber industry, enhancing its competitiveness and contributing to the country’s economic growth.
Foreign rubber firms in Vietnam
Vietnam’s rubber industry has attracted significant foreign investment, with international companies establishing operations to leverage the country’s natural resources and strategic location. Notable foreign rubber firms operating in Vietnam include:
Michelin Group
The French multinational Michelin has a long-standing presence in Vietnam’s rubber sector. Historically, Michelin operated the Dau Tieng Rubber Plantation, one of the largest in the country. Today, Michelin continues to source natural rubber from Vietnam and collaborates with local partners to ensure sustainable supply chains.
Bridgestone Corporation
Bridgestone, a leading Japanese tire manufacturer, has established manufacturing facilities in Vietnam. The company produces tires and other rubber products, serving both domestic and international markets. Bridgestone’s investment reflects Vietnam’s growing importance in the global rubber industry.
Kumho Tire Co., Inc.
South Korea’s Kumho Tire operates a significant tire manufacturing plant in Binh Duong Province. The facility produces a wide range of tires for passenger vehicles and exports to various markets worldwide. Kumho’s presence underscores Vietnam’s attractiveness as a manufacturing hub.
Goodyear Tire & Rubber Company
The American multinational Goodyear has a distribution network in Vietnam, supplying tires and related rubber products. While Goodyear does not have manufacturing facilities in the country, its commercial activities contribute to the local rubber industry’s development.
These foreign investments have introduced advanced technologies, enhanced production capacities, and integrated Vietnam more deeply into global rubber supply chains, contributing significantly to the industry’s growth and modernization.
Vietnam’s main rubber products
Vietnam’s rubber industry produces a diverse range of products to meet domestic needs and international demand. The main rubber products include:
Natural Rubber
Vietnam is a leading global producer and exporter of natural rubber. Key grades include latex, block rubber, and sheet rubber, which are used in industries such as automotive, construction, and manufacturing.
Rubber Tires
Tires are a major value-added product, with Vietnam producing a wide range of tires for motorcycles, bicycles, passenger vehicles, and industrial equipment. These products are both consumed domestically and exported to global markets.
Industrial Rubber Products
The country manufactures industrial rubber products, including belts, hoses, seals, and gaskets. These items serve various sectors, such as agriculture, machinery, and oil and gas.
Rubber Components for Automotive and Electronics
Vietnam produces rubber parts like bushings, mounts, and vibration dampers for the automotive and electronics industries. These components are essential for assembly and manufacturing processes.
Rubber Footwear
Rubber-based footwear, including sandals and boots, is a key product in Vietnam’s rubber industry. These products cater to domestic markets and are also exported in large volumes.
Rubber Gloves
Rubber gloves for medical, industrial, and household use are a growing segment in Vietnam’s rubber product portfolio, driven by rising demand for hygiene and safety products worldwide.
Rubberized Fabrics and Coated Products
Vietnam manufactures rubberized fabrics and coated materials used in waterproof clothing, protective gear, and industrial applications.
These rubber products showcase Vietnam’s ability to supply raw materials while advancing into value-added manufacturing, making it a key player in the global rubber market.
Rubber regulations in Vietnam
Vietnam’s rubber industry operates under a regulatory framework designed to ensure sustainable practices, environmental protection, and compliance with domestic and international standards. Key regulations include:
Environmental Regulations
Rubber plantations and processing facilities must comply with Vietnam’s Law on Environmental Protection, which mandates waste management, emission control, and sustainable land use. Companies are required to conduct Environmental Impact Assessments (EIAs) before establishing plantations or processing plants to mitigate ecological harm.
Land Use and Plantation Management
The government regulates the use of agricultural land for rubber plantations to balance economic development with environmental conservation. Policies encourage sustainable plantation management practices, including crop diversification and reforestation to prevent soil erosion and deforestation.
Quality Standards and Certification
Rubber products must adhere to national and international quality standards to meet export and domestic market requirements. Certifications like ISO 9001 for quality management and ISO 14001 for environmental management are commonly adopted by manufacturers.
Trade Regulations
Vietnam regulates the export and import of rubber products through trade policies and customs procedures. Exporters must comply with destination market standards and trade agreements to maintain competitiveness in global markets.
Labour Laws and Safety Standards
Rubber producers must comply with Vietnam’s Labour Code, which mandates fair wages, worker safety, and proper training. Protective measures and safety protocols are required in plantations and processing facilities to minimise risks associated with chemical use and machinery.
Circular Economy and Recycling Policies
The government promotes recycling and reuse in the rubber industry to reduce waste and environmental impact. Policies encourage the development of recycled rubber products and the adoption of circular economy models in production processes.
These regulations aim to balance economic growth in the rubber industry with sustainable practices, ensuring Vietnam remains a competitive and responsible player in the global rubber market.
What’s next?
Vietnam’s rubber industry is a cornerstone of the country’s agricultural exports, making it one of the top global producers and exporters of natural rubber. Spanning cultivation, processing, and value-added manufacturing, the sector contributes significantly to the economy while supplying major markets worldwide.
The rubber industry in Vietnam, however, is dynamic and can change quickly. With this in mind, foreign firms operating in the rubber space can best keep up to date with the latest developments by subscribing to the-shiv.
First published December 26, 2024. Last updated March 14, 2025.