Industry’s production forecast to see 8% CAGR over 2016-2021, thanks to expanding car production volumes, rising demand for replacement tyres, and investments into production capacity expansion
Encouraged by healthy demand growth prospects, tyre manufacturers in India lay down production capacity expansion plans
Facing shortage of natural rubber in the domestic market, rubber product manufacturers turn to more expensive imported materials, putting a pressure on profit margins
Expanding car production volumes in India and rising demand for replacement tyres drive industry’s growth
Industry’s production value expands by 7% in 2016 to INR898 billion
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