India’s Rubber Export Industry: 2024 Trends, Challenges, and Key Insights
Did you know? Rubber, a versatile polymer, has been crucial in various industries for centuries. Renowned for its elasticity, rubber is widely used in products such as surgical instruments, car and airplane tires, pacifiers, etc. As a key player in the global rubber market, India has experienced significant changes in its rubber export landscape.
Driven by domestic market fluctuations and a rising global demand for rubber products, India’s rubber export industry is poised for growth. In this blog, we delve into the major factors shaping the industry in 2024, explore key rubber product exporters, and examine essential HS codes.
Global Rubber Market Overview
The global rubber market was valued at USD 45.93 billion in 2023 and is projected to grow to USD 48.27 billion in 2024. With a compound annual growth rate (CAGR) of 5.1% from 2024 to 2034, the market is expected to reach approximately USD 79.38 billion by 2034. North America leads the global market, surpassing USD 19.29 billion in 2023–24.
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A Snapshot of Indian Rubber Production
India ranks among the top rubber producers globally, following Thailand, Indonesia, and Vietnam. In 2023–24, India produced 911,000 metric tons of rubber, with Kerala contributing 74% of the country’s total output. Despite being a significant rubber consumer, with 1.3 million metric tons consumed in 2023–24, India also plays a vital role in rubber exports. Approximately 6,000 small, medium, and large-scale units produce 35,000 rubber products, employing around 400,000 people.
Insights into India’s Rubber Export in 2024
According to export data, 1,192 shipments of rubber products were made by 124,000 Indian rubber exporters to 5,054 international buyers. Popular product categories include Rubber HS codes 40169990, 40129049, and 4008219. In 2023, India exported over 356,000 metric tons of natural rubber.
India ranks third in global rubber product shipments, with Vietnam leading at 140,637 shipments, followed by Germany with 104,870 shipments. Key rubber exporting countries include Thailand, Indonesia, Ivory Coast, Vietnam, and Malaysia, while major importers include China, the United States, Japan, and India. In 2023–24, India’s rubber imports amounted to USD 1.06 billion, making it the 5th largest rubber importer globally.
Major Export Destinations for Indian Rubber
India’s top rubber export destinations include:
- China — $5.3 billion
- Nepal — $4.5 billion
- United States — $3.7 billion
- United Arab Emirates — $2.8 billion
- Germany — $1.3 billion
The demand for Indian rubber is strong across these markets, and Indian exporters need to optimize their strategies to increase their share in global trade, for deeper market insights, access rubber export data from Seair Exim Solutions.
Leading Rubber Exporters in India
India is home to several prominent rubber exporters, including:
- Deluxe Rubber Industries
- Madras Rubber Factory
- Rubco
- Sujan Industries
- Rubtech Mech (India)
- Mampallil Rubbers
- Infinity Industries
- Oval Project Engineering Pvt. Ltd.
- Flexilis Private Limited
- Pioneer Latex Industries
Among them, Deluxe Rubber Industries stands out as the largest rubber exporter in India. These companies are at the forefront of meeting the growing global demand for Indian rubber products.
Key Rubber Products Exported from India
India exports a wide range of rubber products, including:
- Engine mounts
- Transmission mounts
- Vibration mounts
- Sandwich mounts
- Cabin mounts
- Anti-vibration rubber mounts
- Strut mounts
- Leaf spring shackle assemblies
- Rubber and canvas footwear
- Rubber hoses, cots, and aprons
With the global demand for rubber products rising, these items represent just a fraction of India’s export potential. For more detailed information on rubber products exported from India, visit Seair Exim Solutions.
Challenges in India’s Rubber Export Industry
India’s rubber export industry faces several challenges, including:
- Low selling prices for rubber
- Rising labor costs
- Skilled labor shortages
- Climate change impacts
- Lack of modern technology
- Insufficient government subsidies
- Limited market insights
Addressing these challenges will require technological innovation, improved farming methods, increased recycling efforts, and strict adherence to environmental standards. Seair Exim Solutions can help Indian rubber exporters gain critical industry insights through the latest export data.
Finding Global Rubber Importers
Finding the right buyers is crucial for successful rubber export from India. Seair Exim Solutions provides a reliable list of global buyers for rubber products, making it easier for exporters to connect with potential clients. Our platform’s rubber export data simplifies the process of identifying overseas buyers.
Conclusion
Success in India’s rubber export industry requires a strategic approach considering market dynamics, logistical efficiency, and stringent quality control. By focusing on these key elements, exporters can enhance their competitiveness and profitability in the global market. Staying updated on industry trends and regulatory changes will also be vital for sustained success.
For assistance in locating rubber product export data or finding the best rubber products to export from India, contact Seair Exim Solutions. Our experts are ready to provide the information you need on rubber product exporters, HS codes, export data, and more. Click here for a free live demo.
