Our View: Evolution is the solution to industry woes

Survival isn't so much for the fittest. It's more that survival is for the flexible—those willing to redefine who they are, what they do and how they do it.

And that ability to adapt is more important than ever, especially as the rubber industry is rocked by challenges—supply chain entanglements, materials availability, labor shortages and rising business costs. Those challenges, though, present great opportunities when they're seen through the lens of their solutions. From testing to tires, the rubber industry is full of flexible companies looking to drive the industry forward.

Ace Laboratories—formerly Ace Products and Consulting L.L.C.—is one example. Founder and CEO Erick Sharp understands that the lab and testing services Ace offers are critical, especially as companies look to address shortages and step up sustainability by seeking alternate materials and suppliers. And Ace can help when companies seek to save costs by outsourcing lab and testing needs.

So Ace adapted. By changing its name to Ace Laboratories, it highlights the critical services it's always offered—services that may have gotten lost in translation with its previous moniker.

Well-established, globally recognized brands are changing, too. Take 124-year-old Goodyear, the world's third-largest tire maker. The company's iconic name isn't going anywhere, but it's approach to and understanding of the newest automotive technology is—it's moving forward. Rapidly.

The Akron-based tire maker is stepping up its auto industry game by taking a vested interest in products and technologies that don't fall entirely within the tire space. Through its Goodyear Ventures arm, the company has taken a venture capital stake in more than a dozen start-ups. In return, Goodyear gains a bit on the financial side, sure. But the goal is bigger.

Goodyear aims to get a greater return on know-how. Access to data insights and a better understanding of how the latest technologies are being implemented give Goodyear a clearer picture of the automotive future. And with that foresight, the company can better invest in its own future—tailoring solutions and products to match customer expectations and best meet the needs of tomorrow's drivers.

But perhaps no place in the rubber industry is more prime for evolution than the natural rubber industry itself. NR faces tremendous challenges from climate change—increased flooding, tree disease and rising temperatures—that could severely impact supply at a time when demand continues to grow.

When geopolitical impacts, pricing vulnerabilities and supply chain concerns are factored in, the headaches for NR players multiply.

So NR is adapting with solutions that strengthen sustainability and address vulnerabilities.

Take Bridgestone Americas Inc., a leader in guayule development. The tire maker has spent the better part of the last decade digging into the viability of using guayule-based NR. Now, with a grant from the Department of Energy pushing it further and the rollout of the guayule-based Firestone Firehawk race tires, the company is poised to bring a commercially viable alternative rubber solution to the table in the years ahead.

In doing so, Bridgestone demonstrates what companies across the industry know for sure. Adaptation and flexibility are the keys to survival in an uncertain future.