Rubber & Rubber Products
Global rubber production (including natural and synthetic rubber) reached 26,702 thousand tons in 2015 as per International Rubber Study Group (IRSG) and world rubber and its articles exports touched more than USD 167 billion in 2015. The world market of industrial rubber product which mainly consist of mechanical goods, hose, belts, roofing touched USD 115 billion and is expected to reach USD 158 billion by 2018.
India is the world’s largest producer and third largest consumer of natural rubber. India manufactures more than 35000 different kinds of rubber products in 6000 different units all over India for domestic as well as for export whose turnover is close to USD 5 billion per annum.
Our present challenges are with the small-scale units and the majorly they are global competition, rising fuel cost, rising raw material cost & reduction in import duty. Also the supply of synthetic rubber has affected the production and price of natural rubber of India. So the industry need to work along the lines such that a sustainable product-market environment comes in place.