Bug rubber is currently only used for trampolines, and I feel like it could be used for many other things. It might be used for some sort of see through wall, and maybe some traps. You could use this as a rope too, and ropes already have many other uses, such as keeping bugs/pets hooked up to a fence. A new type of bow/crossbow too, and many other tools. Maybe, it could be used to temporarily repair things, like tools, but it would break after like 30 uses. I was thinking that it could be used for a new weapon, a slingshot. Maybe a purifier for nasty water too. These are just a few ideas for bug rubber, because there are a lot more.

If they increased swimming in the game I would say combine the bug rubber with diving bell spiders to make a glider that doesn't glide but acts as a scuba tank.  Or make it a chest piece as they do not have a full swim set