Apollo Tyres Explores Sustainable Materials to Cut Costs
24 Dec 2024
1 Min Read
CW Team
As India鈥檚 tyre manufacturers confront rising raw material costs, Apollo Tyres is exploring sustainable alternatives to natural rubber to address both economic pressures and environmental concerns.
The company is collaborating with research institutions to develop innovative, bio-based materials for tyre production. Additionally, Apollo Tyres has teamed up with Tyromer to incorporate recycled rubber from end-of-life tyres into its manufacturing process, supporting its sustainability goals.
鈥淲e are committed to a greener future,鈥� stated Gaurav Kumar, Chief Financial Officer at Apollo Tyres. "By 2030, we aim to source 40% of our materials from renewable or recycled sources."
The continued volatility in natural rubber prices, coupled with a domestic shortage of around 550,000 tonnes, has put significant pressure on manufacturers.
Natural rubber prices have fluctuated dramatically, with some periods showing a 13% decrease followed by a 55% increase. Anurag Singh, Managing Director of Primus Partners, noted that most tyre manufacturers are ramping up research and development to enhance product efficiency and embrace greener technologies.
Shashi Singh, President of the All India Rubber Industries Association, explained that the industry's struggle with fluctuating prices continues to pose a significant challenge.
As India鈥檚 tyre manufacturers confront rising raw material costs, Apollo Tyres is exploring sustainable alternatives to natural rubber to address both economic pressures and environmental concerns.
The company is collaborating with research institutions to develop innovative, bio-based materials for tyre production. Additionally, Apollo Tyres has teamed up with Tyromer to incorporate recycled rubber from end-of-life tyres into its manufacturing process, supporting its sustainability goals.
鈥淲e are committed to a greener future,鈥� stated Gaurav Kumar, Chief Financial Officer at Apollo Tyres. By 2030, we aim to source 40% of our materials from renewable or recycled sources.
The continued volatility in natural rubber prices, coupled with a domestic shortage of around 550,000 tonnes, has put significant pressure on manufacturers.
Natural rubber prices have fluctuated dramatically, with some periods showing a 13% decrease followed by a 55% increase. Anurag Singh, Managing Director of Primus Partners, noted that most tyre manufacturers are ramping up research and development to enhance product efficiency and embrace greener technologies.
Shashi Singh, President of the All India Rubber Industries Association, explained that the industry's struggle with fluctuating prices continues to pose a significant challenge.
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