Project report for Rubber Industry

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Introduction

India is the world's largest producer and the third largest consumer of natural rubber. Kerala is the leading rubber plantation state in India. It accounts to 92 percent of the country's total natural rubber production. Among the districts in Kerala, Kottayam is the leader in the rubber production. Hence this region is also known as 'Land of latex'. Industrial rubber market is a natural polymer of Isoprene founded in the latex sap of various plants. Rubber is basically a hydrocarbon polymer, which is found naturally in sap of several plants and can also be made synthetically. Industrial rubbers market is used in rubber molded products in industrial and household applications. One of the largest consumers of rubber are tires and tubes. Other applications of rubber are matting, flooring, hoses, belts, and others. In addition, rubber is utilized as adhesive in several products and industrial applications.

Rubber consists of polymers of the organic compound isoprene, with minor impurities of other organic compounds. Thailand and Indonesia are two of the leading rubber producers. Types of polyisoprene that are used as natural rubbers are classified as elastomers. Currently, rubber is harvested mainly in the form of the latex from the rubber tree or others. The latex is a sticky, milky and white colloid drawn off by making incisions in the bark and collecting the fluid in vessels in a process called "tapping". The latex then is refined into rubber that is ready for commercial processing. In major areas, latex is allowed to coagulate in the collection cup. The coagulated lumps are collected and processed into dry forms for sale. Natural rubber is used extensively in many applications and products, either alone or in combination with other materials. In most of its useful forms, it has a large stretch ratio and high resilience, and also is water-proof.

Market potential & Strategy

The global Rubber market is valued at INR 3972000 Crores in 2020 is expected to reach INR 6848000 Crores by the end of 2026, growing at a CAGR of 8.0% during 2021-2026. Rubber is dominantly used as a raw material in the automotive end-use industry for the production of a wide variety of products, such as tires, crap tubes, adhesives, hoses, pipes, gaskets, and roll coverings. The increasing demand for tire and non-tire automotive parts is expected to influence market growth. It is further used in various applications, such as footwear, industrial goods, construction, textiles, and other consumer products. The amalgamation of rubber in footwears gives protection from water. chemicals, electricity, impact, and low temperatures. It is also used in a variety of consumer products, such as protective covers, mats, and others. The rising usage in textiles and industrial goods is expected to act as a driving factor for the growth of the market. Rubber products are having a wide range of applications in various fields. The rubber components used in the automotive industry are generating significant demand for industrial rubber. In the automotive industry, industrial rubber is used in the brakes, components, and tires.  Also, a growing disposable income of the population and rising technological advancement in the construction and building industry is boosting the growth of the industrial rubber market. The growing greenhouse gas legislation and mandates may hinder the market growth, while it is also estimated to create an opportunity for natural-based or bio-based rubber in the upcoming years.

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