Sri Lanka’s rubber industry has set a target to double export income to USD 2 billion by 2030, up from the current USD 1 billion, announced Dr. Dilhara Edirisinghe, Head of the Rubber Technology and Development Department at the Rubber Research Institute of Sri Lanka. Speaking on the second day of the TechBiz Rubber Week at Ramada Hotel, Dr. Edirisinghe emphasized that this ambitious goal can be achieved by focusing on key exports such as tyres and gloves, which constitute the majority of the country’s rubber product exports, primarily to the United States and European Union markets.
Sri Lanka is recognized as a global leader in solid tyres, fulfilling over 30% of the global demand, and holds the fifth position globally in the glove industry. The sector provides employment to over 500,000 individuals across plantation and manufacturing segments, highlighting its economic importance.
Currently, Sri Lanka’s share in the global rubber market stands at 0.25%, with 80% of its export income coming from value-added products. To boost export earnings, Dr. Edirisinghe emphasized the importance of diversifying the product range and transitioning to more sustainable, green alternatives by replacing synthetic materials in rubber composites with natural ones.
Vindya Wijesinghe, Senior Innovation Officer at the National Innovation Agency, discussed the importance of developing odor-free rubber products, aiming for geographical indication status similar to that of Ceylon cinnamon. She stressed the significance of investing in research and development (R&D) and building collaborations with universities and research institutes to foster innovation and enhance product competitiveness.
During the TechBiz Rubber Week, three industry professionals—Thilak De Zoysa, Dr. Nanda Fernando, and Pierre Pringiers—were honored in the ‘Rubber World – Hall of Fame’ for their contributions to the industry. The event featured training sessions, conferences, a CEO forum, a Hall of Fame awards ceremony, a rubber clinic, and a quiz to enrich industry knowledge and promote professional excellence in rubber manufacturing.
Tags: Rubber Industry, Sri Lanka, Rubber Exports, Sustainable Manufacturing, TechBiz Rubber Week, Global Rubber Market, Value-Added Products, Geographical Indication, Industry Innovation,