Press release
India Elastomers Market Size, Share, Trends and Forecast by 2025-2033
India Elastomers Market
Base Year: 2024
Forecast Years: 2025-2033
Historical Years: 2019-2024
Market Size in 2024: USD 3.40 Billion
Market Forecast in 2033: USD 5.43 Billion
Market Growth Rate (2025-2033): 5.34%
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India Elastomers Market Overview
India elastomers market is advancing with increasing demand from automotive, industrial, and building industries. Increasing investments in infrastructure, increasing consumer electronics market, ongoing improvement in manufacturing technologies, increasing demand for sustainable materials, and government support for local production and innovation are the drivers of the market.
India Elastomers Market Trends
Growing Demand from the Automotive Sector
The increasing demand from the automotive segment boosts the India elastomers market growth. As car production rises and the market trends toward electric vehicles (EVs), elastomers like styrene-butadiene rubber (SBR) and ethylene propylene diene monomer (EPDM) are in huge demand for tire production, seals, and gaskets. For example, the government of India is promoting the use of electric vehicles (EVs) actively through a number of policies, including the FAME II scheme with a budget of INR 11,500 Crore and the PLI scheme for the auto industry with a budget of INR 25,938 Crore. As of 8 July 2024 EV sales in India had grown 16% during the first half of 2024 at 8,42,396 units against 7,23,492 during the same period in 2023.
The country has also installed 16,344 public charging points. This increase in EV production and infrastructure is forecasted to drive demand for highly advanced elastomers utilized in applications such as seals, gaskets, tires, and thermal insulation materials, most notably those designed to withstand high temperatures and electric loads in EVs. Other than this, elastomers have a wonderful replacement for light material because they are flexible and also durable. Additional research on bio-based elastomers is growing in response to the push for sustainability. Demand is also rising with the government initiatives that promote domestic auto production under the "Make in India" initiative. The rising demand for electric vehicles by consumers is also driving the demand for elastomers used in the automobile industry.
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India Elastomers Market Segmentation
1. By Type
o Thermoplastic Elastomers (TPE)
o Thermoset Elastomers
o Silicone Elastomers
o Polyolefin Elastomers (POE)
o Nitrile Butadiene Rubber (NBR)
o Others
2. By End Use Industry
o Automotive
o Industrial
o Construction
o Consumer Electronics
o Healthcare
o Other
3. By Region
o North India
o South India
o East India
o West India
India Elastomers Market News
April 2024: IIT Madras launched India's first mobile calibration facility for medical devices. The unit is designed to travel across the country and offer on-site testing, calibration, and safety verification of essential medical instruments. It follows international testing standards and reduces both operational and logistical costs associated with equipment servicing.
Key Highlights of the Report
1. Market Performance (2019-2024)
2. Market Outlook (2025-2033)
3. COVID-19 Impact on the Market
4. Porter's Five Forces Analysis
5. Strategic Recommendations
6. Historical, Current, and Future Market Trends
7. Market Drivers and Success Factors
8. SWOT Analysis
9. Structure of the Market
10. Value Chain Analysis
11. Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.
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Contact Us
IMARC Group
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Email: sales@imarcgroup.com
Tel No: (D) +91 120 433 0800
United States: +1-631-791-1145
About Us
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC's offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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