It is important to know about the prices and trend of different products that come to our use in daily life. Inflation pressure showed that US consumers paid more attention to cheaper imported goods. This led to huge trade deficits in the country.
To meet such inflation and economic downtime, some alternatives have to be developed. Currency value plays the major role in the price of any commodity. Sometimes the imported goods become more expensive. Thus people start consuming domestic goods rather than the imported ones. Rubber is one of the indispensable products, mostly used by people in their daily lives. Most of the products that we use in our day to day life contain rubber in one or the other form.
Synthetic rubber was created in the year 1910, although it got commercialized after 1930. Shortage of natural rubber during the World War 2 led to the commercialization of synthetic rubber to a great extent. Today synthetic rubber is widely used in place of natural rubber. Prices also matter a lot in these matters. When prices of natural and synthetic rubber differs a lot people prefer the cheaper one.
Moreover different derivatives of rubber are available today at a wide price range for customers. Rubber industry is very big and versatile, and its usage has no end. There are numerous uses of rubber such as rubber-based fuels in missiles, tyres, medical uses (orthopaedic braces, gloves, etc.). On one hand where the generally used rubber is becoming cheaper, some special derivatives are becoming more expensive.