According to industry reports, India’s market for rubber products used in civil construction is projected to grow at a compound annual rate (CAGR) of 7.1% from 2022 to 2029, reaching an estimated USD 311.2 million by 2029.
The market growth is primarily driven by India’s booming construction industry and the country’s accelerating urbanization. In addition, the integration of smart technologies in rubber product manufacturing and the expansion of India’s rubber industry are expected to create new opportunities for market development.
However, a shortage of natural rubber tappers and ongoing challenges in the rubber sector pose significant obstacles to sustained growth.
From the rubber type perspective, the natural rubber segment is anticipated to expand at the fastest pace during the forecast period. Key growth factors include the high tensile strength and superior environmental resistance of natural rubber, coupled with the increasing domestic production of natural rubber in India for both local use and export.