LANXESS Optimistic About Tyre Market in India
LANXESS, a specialty chemicals firm, foresees increase in demand for synthetic rubber in India, a country with a long history in the production and consumption of natural rubber. Driven by the need of rapid modernization, India is currently undergoing a shift towards replacing natural with synthetic rubber in a variety of applications. As one of the world's leaders in manufacturing synthetic rubber and backed by a history of serving the Indian market for over 40 years, LANXESS is set to play an important role in this development. One of the growth drivers for high performance rubber in India is the automotive industry. Triggered by a burgeoning middle class, demand for passenger cars and two-wheelers is rising. The automotive industry is expected to grow by about 12-14% in 2010-2012. In addition, the government has an ambitious project of expanding and strengthening the highway infrastructure of India by an estimated growth rate of 8-9%. Increase in mobility woul