Rubber Band Manufacturing Business. Production of Rubber Products. Profitable Business Ideas in Rubber Processing Industry
Rubber band (also known as an elastic band, gum band or lacky band or Hair Tie) is a loop of rubber, usually ring shaped, and commonly used to hold multiple objects, hair, wrists or bag ends together.
The rubber band is the most commonly used item in our daily life and most importantly at present, there is no other substitute product for rubber bands. The market potentiality of rubber band manufacturing is huge and every year it is growing in high scale due to the increase in demand.
Rubber bands are flexible circular bands produced from hollow cylindrical tubes of vulcanized natural and synthetic rubber, mineral additives, dyes and pigments.
Rubber bands are a stretch of rubber and latex in the shape of a loop and are widely used to hold objects together. Rubber bands are known by various names like binder, elastic, elastic bands, lacker band or gumband. These bands are frequently used in many businesses, industries as well as at home. They are well suited for holding multiple objects together and are reusable and economical. Rubber band sizes vary according to their intended use. These elastic rubber band colors too differ. Today, in the 21st century, rubber bands are considered one of the most convenient rubber products, used by many individuals and industries for a wide variety of purposes. Industrial rubber bands are made to perform heavy duty. These industrial rubber bands have specific sizes and are very strong rubber bands, designed to stabilize almost any size load.
Rubber Bands Uses
The rubber bands are used to hold a large number of things such as follows:
- They are used to suspend hard drives in a computer case. Suspending hard drives help in avoiding contact between the hard drives and the computer case. This in turn results in reducing vibrations to the case, thereby reducing noise in the computer case.
- They are often used in orthodontics. This helps to realign teeth over a period of time.
- They can also serve the purpose of an eraser by simply wrapping a rubber band tightly around the end of a pencil.
- They are used during aerobic exercising as fitness tools. In fact, the wrist rubber bands are an important sports accessories too.
- They are sometimes used to power model aircraft or other mechanical toys because of its property of stretchable. When the rubber band untwists itself, it will help to rotate the wings affixed to it.
- They are used as projectiles.
- They are used to hold small objects or file papers or in many official uses etc.
Applications of Rubber Bands
Rubber Bands have an extensive range of applications in both heavy and small industries like agriculture, packaging, stationery, fishery, transportation, leisure trades etc. the heavy duty industrial rubber bands are used for more demanding jobs.
Rubber bands are one of the most convenient products. Additionally, it is widely used in agriculture, automobile, packaging industry, newspaper industry. It also used as a household consumer durable item. The Rubber Product Manufacturing industry consists of a large number of small operators that typically focus on one particular product segment or market sector. The market is huge and there is an immense opportunity in establishing a rubber band manufacturing project.
Rubber band market potential is huge and the industry will grow at over 8% per annum this decade.
With India’s growing role in the world economy, the Indian rubber industry has also been gaining global acceptance. India today is looked upon as world’s largest producer and third largest consumer of natural rubber. Likewise, large scale production of automobiles in India also led to the further growth of this sector.
India Industrial Rubber Market is projected to grow at a double digit CAGR during the forecast period. Expanding vehicle fleet, surging new vehicle sales and booming construction industry are the major factors expected to boost demand for tires across India in the coming years and growing tire industry in India will further boost the demand for industrial rubber. The major factors contributing to the growth of the market are growing automotive production & sales, growing construction sector in the country and growing urbanization.
Furthermore, India is the sixth largest producer & second largest consumer of natural rubber, fourth largest consumer of all rubber together and second largest producer of Reclaimed Rubber, which gives a unique advantage to Indian Industrial rubber industry. In India, the automotive tires & tubes consumes the largest share of the total rubber industry in India which is more than 60%. Furthermore, growing automotive industry is one of the key factors driving the India industrial rubber market. Moreover, the growing building & construction industry in the country is also propelling the demand for industrial rubber.
India Industrial Rubber Market, By Region, By Value, 2013-2023F
This industry is contributing immensely in India’s B2B sector to other industries such as the Railways, Iron & Steel, Engineering, Agriculture & Food Processing, Healthcare and Mining to name a few. The rubber industry at present in India & several other countries is dominated by the Small Scale Sector. It should be further noticed that around ninety percent of the six thousand plus rubber product manufacturing units are MSMEs. They make up for 40% of all the rubber product exports from India. Since India is the second largest consumer & third largest producer of rubber on the globe so it naturally makes around two million Indians employed in the rubber industry. The industry encompasses tyre units and the other sub-sector covers rubber plantation in the country.
Some of the leading players in the India Industrial Rubber Market are Lanxess, TSRC Corporation, The Goodyear Tire and Rubber Company, Sinopec, Zeon Corporation, Nizhnekamskneftekhim, Kumho Petrochemical, JSR Corporation, Versalis S.P.A., LG Chem etc.
Global Rubber Market
The global natural rubber market is worth over $26.6 Billion in 2016. The application can be classified based on end users, which are automotive, medical industrial use, consumer goods. Automotive use has been in traditional ways, about 65.74% of the all application, while consumer goods application is more diversified. Generally, the growth in medical use would keep increasing in the following years, as the surging demand in both developed and developing areas.
Rapidly growing automotive sector in developing economies and increased demand for high-performance tires, sealing products, and tire adhesive are expected to contribute to the growth of the global industrial rubber market. As on date, Asia Pacific is the largest producer and consumer of industrial rubber, with its tire sector exhibiting promising growth rate. Manufacturers have shifted their production facilities to emerging economies, due to the low labor and operating costs.
In the industrial rubber industry, construction market is estimated to post the strongest gain during the forecast period. Other construction-related products like rubber roofing are projected to register the healthy growth. Mechanical goods is expected to account for the largest share of total demand. Suppliers of hose and belts will gain benefits from increased consumer demand of the durable goods, particularly machinery and equipment.
Due to its superior properties like greater heat resistance, abrasion resistance, and lower aging effects, the demand for synthetic rubber is rapidly rising and driving the overall growth of the global rubber market. A large number of consumers are encouraged to adopt synthetic rubber over natural rubber due to the unstable prices of natural rubber. However, the rebound of rubber prices is expected to create a positive outlook for the natural rubber market in the future.