India poised to become global rubber product leader by 2030

Posted on by

India is set to emerge as the primary supplier of rubber products for tyres, defence, space research, healthcare, footwear, and other rubber components worldwide by 2030.

Speaking at Rubbercon 2024 in Kochi, R. Mukhopadhyay, chairman of the Indian Rubber Institute, said the per capita consumption of rubber in India will increase to 2.5 kg by 2030 from the current level of 1.3 kg. The total rubber consumption will increase from 1.8 million tonnes to 3.6 million tonnes in 2030.

Mukhopadhyay also emphasised the need for trained and skilled manpower to the tune of one million persons in the country during the next 10 years.

The Centre of Excellence in Polymer Science and Rubber Technology at JSS Science and Technology University Campus, Mysore set up by the Indian Rubber Institute at an estimated cost of Rs500 crore is expected to be completed by April 2025, he said.

Anshuman Singhania, managing director of JK Tyres and Industries, said the global rubber products market is expected to touch $504 billion in 2027 at a CAGR of 5 per cent. The industry grew at a CAGR of 8 per cent to $432 billion in 2024 from $400 billion in 2023. The Indian rubber industry contributes a 6 per cent share of the global rubber economy.

According to him, the rubber industry sector in India and abroad is witnessing unprecedented innovation and technological changes to address the challenges posed by climate change and sustainable development. The Indian tyre industry’s R&D spending is forecasted to touch $1 billion in 2032 from $64 million at present.

Earlier, inaugurating the three-day Rubbercon 2024, Tessy Thomas, former project director of Agni Missile and currently Vice Chancellor of Noorul Islam Centre for Higher Education, spoke about the importance of rubber products in mission-critical projects in the defence and aerospace industries.

She also highlighted the importance of developing sustainable solutions to meet the challenges posed by climate change-induced extreme weather events.

The conference, held for the first time in Kerala, features 90 presentations and 18 poster sessions by experts from India, Germany, Italy, France, Poland, the UK, the USA, Canada, Belgium, the Netherlands, China, Sri Lanka, South Korea, Japan and Taiwan.

The focusA of the event is use of renewable materials, the development of energy-efficient tyres, and the industry’s alignment with global sustainability goals.