List of Profitable Business Ideas in Rubber Processing and Rubber Products Manufacturing Industry.
Production of Natural Rubber, Synthetic Rubber, Rubber Chemicals, Extruded Rubber, Rubberised Cork Sheet, Rubber Compound Toys, Rubber Gaskets, Rubber Based Adhesive, Rubber Auto Parts, Rubber Powder, Latex Rubber Threads, Rubber Floor Mats, Crude Rubber, Ethylene Propylene Rubber and Industrial Rubber Products
There are about 6000 unit comprising 30 large scale, 300 medium scale and around 5600 small scale and tiny sector units. These units are manufacturing more than 35000 rubber products, employing 400 hundred thousand people. The Indian Rubber Industry plays a vital role in the Indian national economy. The rubber plantation sector in India produces over 630 hundred thousand tons of natural rubber and there is a projected production of more than one million tons in near future. This has helped in the radical and rapid growth of the Indian rubber industry. This prospect of growth is further enhanced by a boom in the vehicle industry, improved living standards of the people and rapid over-all industrialization.
The Rubber Industry is a key sector in the Indian economy. India is the third largest producer and fourth largest consumer of natural rubber in the world and also the fifth largest consumer of natural rubber and synthetic rubber put together. Indian rubber industry registered an annual turnover of $ 12,700 million in the year 2015-16, with the tyre sector contributing to $7,600 million, non-tyre sector $ 5,100 million and export $ 2,300 million.
The Synthetic Rubber Market is Estimated to Be USD 28.88 Billion in 2017 And is Projected to Reach USD 37.82 Billion By 2022, Registering a CAGR of 5.5% Between 2017 And 2022.
Synthetic rubber is mostly produced from crude oil and natural gas, by the polymerization of monomers. Although used in a wide range of applications, its major application is in tires. There has been a growing demand for synthetic rubber from applications, such as tire, non-tire automotive, footwear, industrial, and others. Environmental regulations related to synthetic rubber may act as a restraint for the synthetic rubber market.
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