India synthetic rubber demand stood at 671 Thousand Tonnes in FY2021 and is forecast to reach 1055.30 Thousand Tonnes by FY2030, growing at a healthy CAGR of 5.16% until FY2030. The market growth attributes to the proprietary advantages of synthetic rubber. Synthetic rubber is elastic in nature. The properties like water resistance, resistance to alkalis and other weak acids, toughness, adhesiveness, less toxicity toward environment, and impermeability drives the market growth in India. Synthetic Rubber is better than its alternatives as it is resistant to solvents, oxygen, chemicals, and oils, etc. The maximum consumption of synthetic rubber is in the manufacturing of tires. It is mixed with filler agents to enhance the properties like toughness and sturdiness in tires. The applications of synthetic rubber are also increasing in the construction industry for hoses, belts, tubes, seismic bearings, etc.
The demand for synthetic rubber is maximum in the Automotive and Transportation Industry and it constitutes more than 50% share in the Indian Synthetic Rubber market. South and West Region constitute for maximum demand in India due to the availability of most tire manufacturing companies. The demand of Synthetic Rubber in FMCG Industries for manufacturing of footwear, sports goods, and other stationery items.
The global companies that manufacture synthetic rubber are ExxonMobil Chemical Company, JSR Corporation, Korea Kumho Petrochemical Co., Ltd, PetroChina Company Limited, Goodyear Tire & Rubber Company, etc. The Indian companies that operate in the Indian Synthetic market are Reliance Industries, Jubliant Industries, Indian Synthetic Rubber Limited, and Apotex.
However, a sudden outbreak of novel coronavirus had hit the Synthetic Rubber sector as several Indian ports had to declare force majeure in compliance with the government lockdown measure in the battle against COVID-19. Synthetic Rubber supplies remained tight throughout the final quarter of 2020 as the Indian market is dependent on exports from other countries.
Years Considered for this Report:
Historical Years: FY2015– FY2020
Base Year: FY2021
Estimated Year: FY2022
Forecast Period: FY2023 – FY2030
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The objective of the Study:
? The primary objective of the study was to evaluate and forecast Synthetic Rubber production, demand, inventory, and the demand-supply gap in India.
? To categorize demand for Synthetic Rubber based on end-use, sales channel, and region.
? To study trade dynamics and company share in the India Synthetic Rubber market.
? To identify major customers of Synthetic Rubber in India.
? To evaluate and forecast Synthetic Rubber pricing in India.
? To identify and profile major companies operating in the India Synthetic Rubber market.
? To identify major developments, deals, and expansion plans in the India Synthetic Rubber market.
Currently, Reliance Industries, Jubliant Industries, Indian Synthetic Rubber Limited, and Apcotex are operating in the Indian Synthetic Rubber Market. Some of the international players are ExxonMobil Chemical Company, JSR Corporation, Korea Kumho Petrochemical Co., Ltd, PetroChina Company Limited, Goodyear Tire & Rubber Company, etc.
To extract data for the India Synthetic Rubber market, primary research surveys were conducted with manufacturers, suppliers, distributors, wholesalers, and end-users of Synthetic Rubber. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end-user segments and projected a positive outlook for the India Synthetic Rubber market over the coming years.
To extract data for the India Synthetic Rubber market, primary research surveys were conducted with Synthetic Rubber manufacturers, suppliers, distributors, wholesalers, and end-users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end-user segments and projected a positive outlook for the India Synthetic Rubber market over the coming years.
ChemAnalyst calculated Synthetic Rubber demand in India by analyzing the historical data and demand forecast was carried out considering the end-use industries’ growth. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
? Synthetic Rubber manufacturers and other stakeholders
? Organizations, forums, and alliances related to Synthetic Rubber distribution
? Government bodies such as regulating authorities and policymakers
? Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Synthetic Rubber manufacturers, distributors, and policymakers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
In this report, the India Synthetic Rubber market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Market, by End-Use Automotive and transportation, Building and Construction, Footwear, Industrial and Others
Market, by Sales Channel Direct/Institutional Sales, Retail Sales, Other Channel Sales
Market, by Region North, South, East, West
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.