Synthetic Rubber demand in India grew at a CAGR of around 5.14% during 2016-2019 and is expected to achieve a healthy growth rate during the forecast period. Synthetic Rubber has properties like elasticity and water resistance, less toxicity, resistance to alkalis and other weak acids, toughness, adhesiveness and impermeability. 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 construction industry for hoses, belts, tubes, seismic bearings etc.
The demand of synthetic rubber is maximum in Automotive and Transportation Industry and it constitutes for more than 50% share in the Indian Synthetic Rubber market. South and West Region constitute for maximum demand in India due to availability of most tire manufacturing companies. Demand of Synthetic Rubber in FMCG Industries for manufacturing of footwear, sport goods and other stationary 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 Apcotex.
However, sudden outbreak of novel coronavirus hard hit the country’s Synthetic Rubber sector as several Indian ports had to declare force majeure in compliance with the government’s lockdown measure in country’s 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: 2015– 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2030
Objective of the Study:
•The primary objective of the study was to evaluate and forecast Synthetic Rubber production, demand, inventory, and 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 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 India Synthetic Rubber market.
•To identify major developments, deals and expansion plans in 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.
Import of Synthetic Rubber declined by almost 4-5 per cent in FY 2020 and Synthetic Rubber prices were assessed at USD XXX per MT on bulk contract basis.
To extract data for 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 India Synthetic Rubber market over the coming years.
To extract data for 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 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 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 policy makers
•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 policy makers. 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 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
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