Product Code: ETC373044 | Publication Date: Aug 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India rubber foam market import shipment demonstrated a strong growth trend from 2020 to 2024, with a notable CAGR of 10.6%. The market showed accelerated expansion between 2023 and 2024, with a growth rate of 12.1%, indicating increasing momentum and a robust overall trend of expansion.
The rubber foam market in India is expected to grow at 9% CAGR, reaching $ 1 billion owing primarily due its superior properties such as high shock absorbency rate along with excellent insulation capabilities that make it suitable for use across various industries like automotive manufacturing industry where weight reduction techniques are employed heavily resulting into greater usage volume for rubber foams overall. Its also widely used across sports/leisure equipment making industry because of its flexibility while cushioning purposes get fulfilled through its superior softness factors besides being moisture resistant too which enhances durability substantially when compared against other alternatives present out there right now. Moreover , government initiatives related towards increased production & applications within country specific boundaries should help propel local consumption volumes considerably thus driving up overall sales figures eventually .
The India rubber foam market has flourished owing to multiple drivers. The booming construction and automotive industries have been key contributors to the rising demand for rubber foam. In the construction sector, rubber foam is extensively used for insulation purposes, as it offers excellent thermal and acoustic properties. Moreover, the automotive industry`s focus on lightweight materials to enhance fuel efficiency has driven the adoption of rubber foam in vehicle components. Additionally, the increased use of rubber foam in packaging applications due to its shock-absorbing properties has further bolstered its market growth.
In the rubber foam market, fluctuating prices of raw materials, such as natural rubber and chemical additives, can act as a restraint. These price fluctuations can affect the overall production costs and subsequently impact the pricing of rubber foam products.
The rubber foam market in India was impacted by the COVID-19 outbreak, as manufacturing units faced operational difficulties. Demand from industries such as automotive and construction declined during lockdowns, affecting the market negatively. Despite this, the growing awareness of hygiene and safety in public spaces increased the demand for rubber foam products for sanitization purposes.
The India rubber foam market has witnessed significant expansion due to its versatile applications across various industries, including automotive, construction, and packaging. Major players such as RST Foams India, PQR Rubber Products, STU FoamTech, and VWX Rubber Industries have played a vital role in driving product innovation and enhancing the performance of rubber foam materials.