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Development of the Rubber Industry Along with the Implementation of Smart Technology: Creating Opportunities in the India Rubber Products Market for Civil Construction Industry

   December 15, 2022

India is the fourth largest rubber consumer globally and is expected to become one of the largest global players in the rubber industry. The rubber industry is one of the key economic sectors in India. However, there is a shortage of rubber production in India, leading to its import. Due to the shortage of rubber production and high taxes on imported rubber, domestic rubber manufacturers face the challenge of meeting the country’s rubber demand. To tackle this and remain competitive, manufacturers are increasingly focusing on automation to improve productivity. Rubber manufacturers can increase their output by using robotics and smart technologies. Human errors can be avoided by allowing the use of software to maintain scheduled tasks, real-time data collection, analyze efficiency, and report the desired data. Through this, manpower can be utilized efficiently. The adaptation of advanced technologies by rubber products manufacturers for the civil construction industry will help them manufacture products more efficiently to suffice the increasing demand for rubber products in India's rapidly growing construction industry.

The central and regional governments have taken various steps to support the growth of the rubber industry in India. Foreign Direct Investments are 100% allowed in the rubber goods industry of India. As there is saturation in rubber consumption in Western countries, rubber consumption and production are increasing in Asian countries. This provides India with an opportunity to develop its rubber industry. The development of the rubber industry and increasing consumption and production of rubber will positively impact the India rubber products market for the civil construction industry.

The state governments are also ensuring the growth of the rubber industry. For instance, the West Bengal government supports and forms industrial policies which benefit the rubber industry, such as the rubber cluster in Howrah, under the public-private partnership (PPP). The key stakeholders of this project are the Union Ministry of Commerce & Industry, West Bengal Industrial Development Corporation (WBIDC), and the Government of West Bengal, along with 206 other constituents of the Indian rubber industry. The rubber park is of USD 7.0 million worth and attracted an investment of USD 200 million. Thus, the implementation of smart technologies and various steps taken by the government to develop the rubber industry are expected to create growth opportunities for the players operating in the India rubber product markets for the civil construction industry.

According to this latest publication from Meticulous Research®, the India rubber products market for civil construction industry is projected to reach $311.2 million by 2029, at a CAGR of 7.1% from 2022 to 2029.

The key players operating in the India rubber products market for civil construction industry report include Saga Elastomer Pvt. Ltd. (India), ALP Group (India), Shin-Etsu Chemical Co., Ltd. (Japan), Hira Industries LLC (U.A.E.), United Rubber Industries (I) Private Limited (India), Apcotex Industries Ltd (India), Kantaflex (India) Private Ltd. (India), Zenith Industrial Rubber Products Pvt. Ltd. (India), BASF SE (Germany), and The Dow Chemical Company (U.S.).

Access Full Report Here: https://www.meticulousresearch.com/download-sample-report/cp_id=5413


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