Rubber products industry hit by rising synthetic rubber variety prices

The rubber products industry is hit hard by the rising prices of different synthetic rubber varieties and it is also struggling with the natural rubber shortage in the domestic market. As a result, India is solely dependent on the imports to meet up the increasing demand in tyre and non-tyre sectors.

The non-tyre industry expects a cost increase of around 8% resulting from the rise in synthetic rubber prices. The basic SR can be partly produced in India; thus, it doesn’t create major issues in the non-tyre industries. However, the specialty synthetic rubbers like EPDM and NBR are imported, and are crucial for the non-tyre industries as they are used in the production of conveyor belts, hoses, etc.