Rubbercon 2024, hosted for the first time in Kerala, India, marked a milestone in the global rubber and tyre industry by addressing key sustainability challenges and opportunities. Held in Kochi from 5 to 7 December 2024, the event attracted over 850 delegates from around the world, including MSMEs, machine manufacturers, tyre producers and leading researchers.

On 5 December 2024, the stalwarts of the rubber industry ecosystem gathered in Kochi, Kerala at Rubbercon 2024 to discuss and debate the current and future trends facing the global as well as Indian rubber industry.

This also was the first time that Rubbercon was hosted in Kerala, which also is the base of natural rubber producers in the country. The 3-day event saw participation of over 850 delegates from all across the globe ranging from rubber producers, raw materials suppliers, machine makers, MSMEs, rubber product makers, universities and even tyre manufacturers.

Tyre industry veteran and former Chief of R&D at Apollo Tyres P K Mohamed said, “We have selected Kochi, the Financial capital of Kerala. At present, Kerala accounts for 90 percent of natural rubber production. I am fortunate enough to start my career with a product that is immensely rich in elastomeric materials, commonly known as rubbers, that revolutionised the life of mankind and made them wealthier, happier and more mobile. The mobility the world enjoys today would not be possible without rubber, which is the basic component used to manufacture tyres.”

He highlighted that since the invention of vulcanisation by Charles Goodyear in 1839, the scientific community has been working to improve the rubber goods, performance and failure properties to match the expectations of never-ending customer requirements.

“In recent years, the industry has been tested by numerous challenges, such as the electrification of automobiles, mobility-related issues, sustainability, circularity, carbon neutrality and regulations. The World Institute study published in the year 2015 indicates that coal, crude oil and natural gas, which are the primary materials used for the production of monomers such as isoprene, styrene, butadiene and other critical materials, may disappear by the end of this century. The price of petroleum products and natural rubber is shooting up daily, and the industry is finding it difficult to pass on this price increase to its customers. It is also observed that the industry’s bottom line is shrinking daily, some industries are even sinking into the negative bottom lines. We use approximately 18 kg to 25 kg of natural rubber and petroleum products to 130-140 litres of oil in a truck tyre. These reasons prompted the conference’s organisation to select the theme of sustainable development in the rubber industry – challenges and opportunities to create awareness and impart new knowledge among the rubber community,” added the industry veteran.

Mohamed was also honoured with Hancock Medal in recognition of his contribution to the global and Indian tyre industry.

R Mukhopadhyay, Chairman of the Indian Rubber Institute (IRI), in his address, mentioned that the per capita consumption of rubber in the country was set to double from the current 1.3 kg to 2.5 kg by 2030. This means that in addition to capital investment, the industry will also require human capital to take advantage of the numerous growth opportunity across the natural rubber ecosystem.

He also highlighted the pivotal role of IRI in advancing global expertise in rubber technology from education, research to skill development, aligning with international standards.

Mukhopadhyay shared that to accelerate and support innovations in the rubber industry, IRI is setting up The Centre of Excellence in Polymer Science and Rubber Technology at JSS Science and Technology University Campus, Mysore. Expected to be ready by April 2025, it is estimated that the world-class facility will see an expense of INR 5 billion.

Dr Tessy Thomas, Former Project Director of Agni Missile and Currently Vice-Chancellor of Noorul Islam Centre for Higher Education, Chief Guest at the event, said, “Sustainability is no longer an aspiration – it’s a necessity.”

She outlined concerns such as deforestation, biodiversity loss and emissions tied to rubber production, as well as raw material shortages driven by climate change and geopolitical uncertainties.

Dr Raghupati Singhania, Chairman & MD, JK Tyre & Industries, addressed the gathering virtually.

Roopak Karnik, Managing Director, Bekaert India, spoke about ‘Transformational Journey of Bekaert with Steel’ on how the company was developing new advanced products with high degree of dematerialisation in sustainability. “Adding recycled content will only exponentially support the sustainability drive by reducing the emission during life and usage of tyres,” he explained.

Srikanth Chakravarthy, MD, Eonix Management Solutions, gave a brief presentation on the topic of ‘Co-Creating a Sustainable Future’.

MAKING MOBILITY SUSTAINABLE

The topic of sustainability is now a global concern, with each stakeholder expected to do their bit to make tomorrow greener and better.

Rubbercon 2024 saw experts present and share their views on different aspects ranging from sourcing, manufacturing to processes, applications and even recovery & recyclability of rubber.

The speakers, ranging from technocrats to researchers to professors, represented various organisations such as University of Lincoln; Indian Institute of Technology, Kharagpur; Rubber, Chemical, and Petro Chemical Skill Development Council (RCPSDC); Confederation of Indian Industry (CII); Emissions Analytics; Cabot Corporation; Birla Carbon; Coesfeld & Co; Tekna Automazione e Controllo; Xingda International; Balkrishna Industries; Synthos; Silpara Technologies; Solvay and Kumho Petrochemicals, among others, shared their perspectives on a wide variety of topics pertaining to the rubber and tyre industry.

Several topics had a niche focus for the tyre industry ranging from the need for skilled manpower for rubber tapping to recycle of tyre waste rubber and extraction of diesel like oil and pyrolytic carbon black to tyre emissions.

Some interesting presentations also focused on solid tyres, truck/bus tyre applications, to the industry’s commitment towards enabling sustainable mobility and the need to meet strict EU regulations.

Retreading truck tyre test – breakthrough for natural rubber silica/silane systems, green tyre technology, sustainable rubber processes, role of artificial intelligence (AI) and machine learning (ML) to advance sustainability in tyre industry, moving towards green supply chain strategies & technology were some of the presentations made by industry speakers.

The event also saw over 90 presentations and 18 poster sessions from experts across the rubber and tyre value chain from India, Germany, Sri Lanka, South Korea, China, Italy, France, UK and US, among others.

The conference concluded with a focus on collective action, emphasising the importance of collaboration across the value chain. From sourcing raw materials to recycling end-of-life tyres, stakeholders demonstrated their commitment to sustainable practices.

Rubbercon 2024 reaffirmed its position as a key forum for driving innovation, fostering collaboration and shaping a sustainable future for the global rubber and tyre industry.

JK Tyre & Industries is aiming for double-digit revenue growth in FY2026, outpacing its forecast for single-digit expansion across the broader tyre industry. Managing Director Anshuman Singhania outlined the company’s ambitions during a post-earnings media call, underscoring confidence in demand recovery and strategic market positioning.

Q1 Performance Overview

For the first quarter of FY2026, JK Tyre reported revenue of INR 38.91 billion, with EBITDA at INR 4.24 billion, translating to a margin of 10 percent. Net profit stood at ₹1.55 billion — up 51 percent compared with the previous quarter, but down 21 percent YoY.

Singhania attributed the annual decline to muted original equipment (OE) demand, particularly in truck and bus radial (TBR) volumes, alongside higher raw material costs compared to the same period last year. He also highlighted an adverse impact from the company’s Tornel business in Mexico, which faced uncertainty due to tariffs on exports from Mexico to the United States, dampening volumes.

Resilience in Domestic and Export Markets

Dr Raghupati Singhania, Chairman and Managing Director, JK Tyre & Industries, said, “The growth momentum in domestic markets remained robust in Q1, with JK Tyre clocking a sales growth of 11 percent YoY, as contributed by a steady demand for our products in both replacement as well as OE segments, underscoring JK Tyre’s continued focus on core growth drivers and strengthening market presence.”

“Despite a challenging and uncertain macro-economic environment, exports of passenger car tyres witnessed a strong traction both on QoQ and YoY basis, signifying pull for our products and enhanced brand perception in the global markets,” said Dr Singhania.

Operational efficiencies and strategic pricing supported performance, even as natural rubber prices remained elevated. Subsidiaries Cavendish (India) and Tornel (Mexico) continued to contribute significantly to the group’s consolidated financials.

Operational efficiencies and strategic pricing supported performance, even as natural rubber prices remained elevated. Subsidiaries Cavendish (India) and Tornel (Mexico) continued to contribute significantly to the group’s consolidated financials.

Regarding trade tensions between India and the US, Anshuman Singhania noted that exports from India to the US account for only around 3 percent of JK Tyre’s revenue and could be redirected to markets such as Mexico, Latin America, Brazil and the UAE if required. With zero tariffs in Mexico, JK Tyre can utilise its production base there to meet demand for both passenger and truck radials. The EU and UK, where JK Tyre holds a strong position in the TBR segment, also remain tariff-free.

Capacity expansion

The company’s INR 14 billion capital expenditure plan is progressing on schedule, covering passenger car radial (PCR), TBR and all-steel truck radial projects. For the year, investment is expected to total INR 9-10 billion, aimed at boosting production capacity by 30-40 percent.

A key driver for future profitability is the shift towards premium products. The share of 16-inch and above passenger car tyres in JK Tyre’s portfolio has grown from 18 percent in FY2020 to 25 percent in FY2025, with a target of 40-45 percent over the next two to three years. This change is being fuelled by rising SUV sales, larger rim sizes in entry-level cars and strong export demand.

The company has also developed a complete range of tyres for electric vehicles, spanning commercial truck radials, bus tyres, passenger radials and two/three-wheeler tyres  Major OEMs such as Ashok Leyland’s Switch Mobility and Tata Motors are sourcing these products, including for last-mile connectivity vehicles and newly launched EV buses.

Market Outlook

The replacement market has been a bright spot, with passenger radial volumes up 32 percent year-on-year and truck radial volumes growing in the high single digits. JK Tyre expects demand to strengthen in the second half of FY2026, supported by infrastructure development, a favourable monsoon, potential interest rate cuts, and improved consumer liquidity.

Anshuman Singhania stressed that the worst of raw material price pressures appear to be over, paving the way for margin improvement as the product mix shifts and capacity utilisation rises. With the small car segment’s gradual decline offset by growth in premium categories, JK Tyre remains confident in sustaining momentum.

“Overall, India is poised for growth,” Singhania concluded. “We see positives across the board — from infrastructure push to evolving consumer preferences — and we are well-positioned to capitalise on these trends.”

Yokohama Rubber has begun supplying its ADVAN V61 tyres as original equipment for BYD’s new SEALION 6 DM-i SUV, marking the Japanese manufacturer’s first OE partnership with the Chinese carmaker.

The SEALION 6 DM-i, a plug-in hybrid SUV launched by BYD Company Ltd. this July, is being factory-fitted with 235/50R19 103V size ADVAN V61 tyres. The announcement comes as Yokohama seeks to grow its footprint in China’s fast-evolving electric and hybrid vehicle market.

The ADVAN V61 is part of Yokohama’s global flagship ADVAN range and is positioned as a premium SUV tyre. The company said the tyre “offers ADVAN’s hallmark premium-grade driving performance, along with a high-level balance of fuel and energy efficiency, handling stability, and quietness, achieving both comfortable city driving and long-distance touring for heavyweight SUVs.”

The SEALION 6 DM-i combines a 1.5-litre naturally aspirated petrol engine producing up to 74kW with an electric motor generating 160kW. Buyers can choose between 18.3 kWh and 26.6 kWh blade battery options, offering electric driving ranges of 93km and 130km, respectively. All models come equipped with advanced driver assistance systems as standard, and the exterior design draws inspiration from the concept of “ocean aesthetics.”

Sumitomo Rubber Industries Ltd said its subsidiary Dunlop Tyre Japan Ltd has completed a Japan Fair Trade Commission investigation into automotive all-season tyre sales after the regulator approved a commitment plan submitted by the unit.

The probe, which examined the subsidiary’s sales practices, concluded without the commission identifying any violation of Japan’s Antimonopoly Act, Sumitomo Rubber said in a statement.

Under Japan’s commitment procedures, companies can submit plans to address potential competition concerns without admitting wrongdoing, allowing them to resolve investigations while avoiding formal sanctions.

"We deeply apologise for the great trouble and anxiety that we have caused to all concerned, including our clients and business partners,” the tyre maker said.

Belgian steel wire maker Bekaert reported resilient first-half 2025 earnings as strong cash generation and cost control offset softer sales, but warned that tariffs and currency pressures are weighing on demand.

The company posted consolidated sales of €1.9 billion, down 5.2 percent year-on-year, with volumes declining 2.6 percent and price/mix effects stripping out a further 2.2 percent. Underlying EBIT slipped 16.2 percent to €171 million, delivering a margin of 8.8 percent compared with 9.9 percent a year earlier.

Free cash flow surged to €123 million from €43 million in the prior-year period, driven by a €135 million reduction in working capital and €21 million in cost savings as the company continued to streamline operations and rein in capex. Net debt fell to €327 million from €399 million despite a continuing €200 million share buyback programme, €74 million of which has been completed.

“We have continued to focus on what we can control best – cash flow and costs - and have significantly reduced overheads and working capital in H1 2025,” chief executive Yves Kerstens said. “Equally, I am very pleased with the hard work of our teams fighting for volumes in the current challenging markets.”

He added: “We are also taking further steps to make our business units more autonomous and agile. Therefore, I am very confident that we will come out of the current business environment stronger and more cost competitive than ever before.”

Bekaert said volumes were particularly strong in its Steel Wire Solutions and Rubber Reinforcement divisions in the United States and China, while European and Latin American demand lagged. Its Brazilian joint ventures delivered €24 million in net profit share, up from €20 million a year ago.

However, the group cautioned that growing trade tensions – including a rise in US steel tariffs from 25 percent to 50 percent – and the weakening of the US dollar and Chinese yuan against the euro were eroding pricing power and softening orders.

“Following a period of resilience in Q2, the tariff uncertainty and weakening economic outlook has started to have an impact on demand,” Bekaert said.

The company now expects slightly lower full-year 2025 sales on a like-for-like basis, with an underlying EBIT margin of between 8.0 percent and 8.5 percent, down from 8.8 percent in the first half.