Resorcinol Formaldehyde Latex Market Outlook:
Resorcinol Formaldehyde Latex Market size was valued at USD 183.02 million in 2025 and is expected to reach USD 263.2 million by 2035, expanding at around 3.7% CAGR during the forecast period i.e., between 2026-2035. In the year 2026, the industry size of resorcinol formaldehyde latex is evaluated at USD 189.11 million.
The growth of the market can be attributed to the growing production of autonomous or electric vehicles. In 2027, the automotive sector in China is projected to produce about 40% of all electric vehicles. It was estimated that approximately 12 million electric vehicles were estimated to be produced worldwide in the year 2022. Further, this increase in production of electric vehicles is driven by growing people’s preference for electric vehicles owing to rising environmental concern such as growing air pollution. Hence, this growing demand for electric vehicles is further estimated to boost the demand for tiers, therefore driving the market growth.
Additionally, there has been growing government initiatives in order to encourage the sale of electric vehicles which is also estimated to boost the market growth. For instance, the government of India intends to create designated electric vehicle mobility zones. In the areas the administration designates, only electric or equivalent cars would be allowed to operate. Many European nations and China have such rules in place. Also, the Production Linked Incentive for Advanced Chemistry Cell Battery Storage (PLI-ACC Scheme) was introduced by the Department of Heavy Industry in June 2021. The organization's objective is to persuade both domestic and foreign investors to make investments in India's Giga scale ACC manufacturing plants. Further, other than tires, rubber is also used for various other applications which includes, diaphragms, hoses, and conveyor belts. Therefore, this is expected to create opportunity for the growth of the market for resorcinol formaldehyde latex.
