Rubber Products
Rubber is a versatile raw material used in various domestic and medical products.
Natural rubber is extracted from the bark of rubber trees and accounts for 48% of global annual consumption. It is widely used in products such as tires, manufactured items, elastic thread, carpets, surgical protection products, condoms, and glue, among others.
Synthetic rubber, on the other hand, is derived from natural gas and petroleum by-products. It constitutes 52% of global annual consumption and is also used in similar products, including tires, manufactured items, elastic thread, carpets, surgical protection products, and condoms.
Products Derived from Natural Rubber
Natural rubber is a key component in various applications:
- Automobile tires contain 15-20% natural rubber.
- Aircraft tires are made entirely of natural rubber.
- It is used in airbags, gym flooring, and commercial kitchen flooring.
- In its fibrous form, natural rubber is used to make elastic clothing such as wetsuits and cycling shorts.
- Other uses include natural rubber gaskets, erasers, adhesives, coatings, rubber gloves, condoms, flotation devices, and baby bottle nipples.
In 2023, Sosadale Ventures Limited produced 9,907 tons of dry rubber equivalent from its plantations. The company operates a 2.5 T/h rubber factory that processes rubber cup lumps from its plantations, contributing significantly to Nigeria's foreign exchange. All rubber produced by the company is exported annually, primarily as TSNR 10-grade products. These products are marketed under the "NOKO10" label and supplied to internationally recognized companies like Michelin and Goodyear.
Collaboration with Third-Party Stakeholders
Sosadale Ventures Limited works closely with third-party stakeholders who sell their rubber cup lumps to the company through agents. The purchase prices for wet rubber are determined by global market rates, reviewed weekly, and communicated to local buyers via text messages.
Sustainability and Environmental Commitment
Natural rubber is a renewable resource with significant environmental benefits, including its role as a carbon sink. As a member of the Global Platform for Sustainable Natural Rubber (GPSNR) through the SOCFIN Group, Sosadale Ventures Limited actively participates in developing sustainability standards for the rubber industry.:
