I don't believe any paint manufacturer uses natural rubber as a binder anymore. Consumer water-borne finishes are pretty much all polymer-based now.
Performance is based on any number of factors including paint type, film thickness and relative hardness, adhesion to substrate, surface preparation, special primers, etc.
If it were me, I'd go with a product specifically designed for the application and follow mfr's protocol.
Heel and Pegpads™
PFD's (Life Jackets)
YakCatcher Rod Holder
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