India Synthetic Rubber Market

Market Overview:

India synthetic rubber market size reached US$ 2.02 Billion in ​2023​. Looking forward, IMARC Group expects the market to reach US$ 3.66 Billion by ​2032​, exhibiting a growth rate (CAGR) of 6.40% during ​2024-2032​. The increasing demand for tires, due to rising vehicle production, replacement demand, and trends such as the growing popularity of electric vehicles, is driving the market.

Synthetic rubber is an artificial polymer material designed to replicate the properties of natural rubber derived from latex found in certain plants. Common synthetic rubber types include styrene-butadiene rubber (SBR), polybutadiene rubber (BR), and ethylene-propylene rubber (EPR). These materials offer advantages such as enhanced durability, resistance to heat and chemicals, and improved weathering properties compared to natural rubber. Widely used in the automotive, aerospace, and manufacturing industries, synthetic rubber plays a crucial role in tire production, conveyor belts, seals, and various industrial applications, contributing to economic development and ensuring the availability of rubber-based products even in the absence of natural rubber resources.

India Synthetic Rubber Market Trends:

The synthetic rubber market in India is experiencing substantial growth, propelled by several key drivers. Firstly, the automotive industry's relentless expansion, underscored by the increasing demand for tires, has significantly contributed to the market's upward trajectory. As vehicle production escalates regionally, synthetic rubber, a vital component in tire manufacturing, witnesses a parallel surge in demand. Moreover, the burgeoning emphasis on sustainable and eco-friendly practices has led to a surge in the adoption of green tires, which are predominantly made from synthetic rubber. This shift towards eco-conscious alternatives acts as a pivotal driver in steering the synthetic rubber market. In addition to the automotive sector, the construction industry's burgeoning development plays a crucial role in propelling the synthetic rubber market forward. With a surge in infrastructure projects in India, the demand for sealants, adhesives, and other construction materials incorporating synthetic rubber has risen substantially. Furthermore, the consumer goods sector, including the production of footwear and industrial goods, has become a prominent driver. The versatility of synthetic rubber in various applications within this sector, coupled with its cost-effectiveness, has spurred its adoption, driving market growth. In essence, the synthetic rubber market in India is navigating a robust trajectory fueled by the confluence of factors across diverse industries.

India Synthetic Rubber Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for ​2024-2032​. Our report has categorized the market based on type, form, and application.

Type Insights:

• Styrene Butadiene Rubber
• Ethylene Propylene Diene Rubber
• Polyisoprene
• Polybutadiene Rubber
• Isobutylene Isoprene Rubber
• Others
   

The report has provided a detailed breakup and analysis of the market based on the type. This includes styrene butadiene rubber, ethylene propylene diene rubber, polyisoprene, polybutadiene rubber, isobutylene isoprene rubber, and others.

Form Insights:

• Liquid Synthetic Rubber
• Solid Synthetic Rubber
   

A detailed breakup and analysis of the market based on the form have also been provided in the report. This includes liquid synthetic rubber and solid synthetic rubber.

Application Insights:

• Tire and Tire Component
• Non-Tire Automobile Application
• Footwear
• Industrial Goods
• Others
   

The report has provided a detailed breakup and analysis of the market based on the application. This includes tire and tire component, non-tire automobile application, footwear, industrial goods, and others.

Regional Insights:

• North India
• West and Central India
• South India
• East and Northeast India
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North India, West and Central India, South India, and East and Northeast India.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

India Synthetic Rubber Market Report Coverage:

Key Questions Answered in This Report:

• How has the India synthetic rubber market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the India synthetic rubber market?
• What is the breakup of the India synthetic rubber market on the basis of type?
• What is the breakup of the India synthetic rubber market on the basis of form?
• What is the breakup of the India synthetic rubber market on the basis of application?
• What are the various stages in the value chain of the India synthetic rubber market? 
• What are the key driving factors and challenges in the India synthetic rubber?
• What is the structure of the India synthetic rubber market and who are the key players?
• What is the degree of competition in the India synthetic rubber market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India synthetic rubber market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the India synthetic rubber market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India synthetic rubber industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.