Fundamental Analysis of
#RajratanGlobalWire👇👇
#Rajratan is the sole supplier of bead wire to some of the leading companies in the tyre industry and expects to further improve its market share in the Indian market.
#RajratanGlobalWire👇👇
#Rajratan is the sole supplier of bead wire to some of the leading companies in the tyre industry and expects to further improve its market share in the Indian market.
#RajratanGlobalWire, one of the largest manufacturers of bead wire in India, is a tyre auxiliary that makes bead wire that is a vital component for the production of tyres.
Based in Pithampur near Indore in MP, #Rajratan manuf. facility in India has a production capacity of 72,000 TPA. It also owns another unit in Thailand, with a production capacity of 40,000 TPA. The company is set to expand its bead wire capacity in Thailand to 60,000 TPA.
#Rajratan is also setting up a 60,000 TPA greenfield unit for manufacturing tyre bead wire in Chennai, Tamil Nadu.
As tyre OEMs look to set up base in Thailand, the structural shift will increase demand in the country and increase its market share to nearly 40 per cent.
As tyre OEMs look to set up base in Thailand, the structural shift will increase demand in the country and increase its market share to nearly 40 per cent.
Besides, the government has banned tyre imports since June 2020 while major tyre companies in India are expanding their capacities to meet the excessive demand from the domestic and export markets
The tyre bead wire market is expected to grow with increasing infrastructure (roads) activities in both developed and emerging economies is predicted to further increase the demand for automobiles (especially M&HCV for the movement of goods).
However, supply chain disruptions, rising shipping costs and economic challenges continue to pose risks to the global tyre industry, Rajratan Global Wire said in its FY22 annual report.
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