Para rubber vs gum elastic

Para rubber and gum elastic both are nouns.

Word	Noun	Adjective	Verb	Adverb
Para rubber	Yes	No	No	No
gum elastic	Yes	No	No	No

As nouns, gum elastic is a hypernym of Para rubber; that is, gum elastic is a word with a broader meaning than Para rubber:

Para rubber: a type of natural rubber obtained from tropical South American trees
gum elastic: an elastic material obtained from the latex sap of trees (especially trees of the genera Hevea and Ficus) that can be vulcanized and finished into a variety of products

Other hypernyms of Para rubber include caoutchouc, India rubber, natural rubber, rubber.

Para rubber (noun)	gum elastic (noun)
a type of natural rubber obtained from tropical South American trees	an elastic material obtained from the latex sap of trees (especially trees of the genera Hevea and Ficus) that can be vulcanized and finished into a variety of products