India Polybutadiene Rubber (PBR) Market to Grow with a CAGR of 4.86% through 2029
Growth in research and development activities is
expected to drive the India Polybutadiene Rubber (PBR) Market growth in the
forecast period, 2025-2029.
According to TechSci Research report, “India
Polybutadiene Rubber (PBR) Market- By Region,
Competition, Forecast and Opportunities, 2019-2029”, the India
Polybutadiene Rubber (PBR) Market stood at USD542.65 million in 2023 and is
anticipated to grow with a CAGR of 4.86% in the forecast period, 2024-2029. Initiatives
taken by government based on polybutadiene rubber (PBR) has led to favorable
market conditions for the India Polybutadiene Rubber (PBR) Market. Several
factors contribute to the growth of various polybutadiene rubber (PBR) products.
The Indian government has recently launched several
initiatives to actively promote and foster the growth of the synthetic rubber
industry. These initiatives encompass a wide range of measures, such as
providing attractive financial incentives, tax benefits, and regulatory
support, all aimed at encouraging and supporting companies involved in the
production of synthetic rubbers to thrive and expand their operations.
In line with these efforts, the Directorate General of
Trade Remedies in India conducted a comprehensive Bilateral Safeguard
Investigation with regards to the import of PBR, a type of synthetic rubber.
This investigation sought to carefully analyze and assess the potential impact
of PBR imports on the domestic synthetic rubber industry, taking into
consideration factors such as market conditions, trade dynamics, and the
overall competitiveness of both domestic and imported products.
Browse over XX market data Figures spread
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Polybutadiene Rubber (PBR) Market”
Research and development (R&D) initiatives have
played a pivotal role in the evolution of high-performance variants of
Polybutadiene Rubber (PBR). These advancements have resulted in significant
enhancements in key properties such as resilience, abrasion resistance, and
fuel efficiency. As a result, PBR is increasingly being embraced by tire and
automobile manufacturers who recognize its immense potential in meeting the
demands of modern vehicles and driving conditions. The growing adoption of
these advanced PBR formulations is fueling the overall demand for this
versatile and innovative material.
The India Polybutadiene Rubber (PBR) Market is
segmented into application, regional distribution, and company.
Based on its application, the tire manufacturing segment
held the largest market share in the forecast period. Due to the demand-supply
gap in the production and consumption of rubber in the country, the domestic
market has witnessed a significant increase in the price of natural rubber.
This surge in price has prompted tire manufacturers to explore alternative
options such as synthetic rubber, with Polybutadiene Rubber (PBR) being a
notable choice. PBR not only serves as a substitute for natural rubber in tire
manufacturing but also finds application in the production of various
industrial rubber products. As a result, the demand for PBR in the country has
further intensified, driven by its versatility and suitability for different
sectors.
Based on region, West India segment is expected to
grow during the forecast period.
The government's supportive policies, including tax
incentives and simplified regulations, have played a pivotal role in fostering
the growth of industries in this region. By providing financial incentives and
reducing bureaucratic hurdles, the government has created an environment
conducive to innovation and business expansion. This has attracted both
domestic and international investors, leading to the establishment of new
companies and the expansion of existing ones.
In addition to the government's efforts, the presence
of numerous state-of-the-art research and development (R&D) facilities in
the region has further accelerated market growth. These facilities serve as
hotbeds of innovation, bringing together talented researchers, scientists, and
engineers to push the boundaries of technology. Through rigorous
experimentation, collaboration, and access to cutting-edge resources, these
R&D facilities contribute to the development of high-quality, innovative
products that meet the ever-evolving demands of consumers. This not only
strengthens the competitiveness of companies in the region but also positions
them as leaders in their respective industries.
Major companies operating in India Polybutadiene
Rubber (PBR) Market are:
- ARLANXEO India Pvt. Ltd.
- Indian Oil Corporation Limited
- JSR INDIA PRIVATE LIMITED
- Kumho Petrochemical Co., Ltd
- LANXESS India Private Limited
- Reliance Industries Limited
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“Growing application of polybutadiene rubber (PBR) in
various end user industries are key drivers of the polybutadiene rubber (PBR) market.
Growth in competitive landscape and presence of well-established companies in
the market who are dedicated to enhance their productivity of polybutadiene rubber
(PBR) with every passing year are anticipated to register an impressive growth
to India Polybutadiene Rubber (PBR) Market in the forecast period.,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“India Polybutadiene Rubber (PBR) Market By
Application (Tire Manufacturing, Footwear, Sports Accessories,
Others), By
Region, By Competition Forecast
& Opportunities, 2019-2029”, has evaluated the future growth potential of India
Polybutadiene Rubber (PBR) Market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in India
Polybutadiene Rubber (PBR) Market.
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