India synthetic rubber market is anticipated to grow at a significant growth rate during the forecast period. The largest synthetic rubber consumers in India are the automobile and medical sectors making it a major market for synthetic rubber. Based on consumption patterns, the rubber industry in India can be categorized into two sectors - the tire sector and non-tire sector. The tire sector comprises all types of automobile tires, conventional as well as radial tires - and tire exports. The non-tire sector comprises the medium-scale, small scale, and tiny units, which produce high technology and sophisticated industrial products. The high consumption of footwear in India additionally fuels the market for synthetic rubber. The country is the fourth largest vehicle manufacturer all across the globe in 2018. Moreover, the country is the largest market for the two-wheeler industry. An increase in demand for automotive in the near future is also expected to raise the demand of automotive tire. Due to this, tire companies are significantly expanding their manufacturing facilities in the country. For instance, in August 2019, Maxxis Tyres announced to set up five manufacturing plants in the country. In the same month, Mahansaria Tyres Pvt. Ltd., announced to start a new plant in Gujarat. In January 2019, Apollo Tyres Ltd. is planning to set-up a new plant in Andhra Pradesh. 

The market is segmented on the basis of type and end-user. By type, the market is further divided into Styrene Butadiene Rubber, Polybutadiene Rubber, Ethylene Propylene Rubber, Isoprene Rubber, and others. Styrene-Butadiene rubber is expected to hold the largest market share during the forecast period. By end-user, the market is further segmented into automobile components, industrial application, footwear, household, and others. By end-user, automobile components will have the largest market share during the forecast period. 

The companies which are contributing significantly in the market include ARLANXEO Holding B.V., Asahi Kasei Corp., Bridgestone Corp., Indian Synthetic Rubber Pvt. Ltd., LG Chem, Ltd., Reliance Industries Ltd., SABIC, The Dow Chemical Co., The Goodyear Tire & Rubber Co., The Michelin Group, Ube Industries, Ltd. and others. The market players are considerably contributing to the market growth by the adoption of various growth strategies including new product launch, merger, and acquisition, collaborations with government, and technological advancements to stay competitive in the market. 

Research Methodology

The market study is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts to brings authenticity to the reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for rubber companies, chemical companies, automotive & auto-ancillary companies, footwear companies, electronics companies, aircraft manufacturing companies, vendors, government organizations, and venture capitalists for the comprehensive market analysis. The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. India Synthetic Rubber Market Research and Analysis by Type
2. India Synthetic Rubber Market Research and Analysis by End-User

The Report Covers

• Comprehensive research methodology of India Synthetic Rubber Market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the India Synthetic Rubber Market.
• Insights about market determinants which are stimulating India Synthetic Rubber Market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.