In his recent visit to India, Gert Wendroth, Global President & CEO, Nynas AG, said that he is bullish about Nynas’ growth in India. Nynas is looking to expand its footprint by setting up more depots and expanding their team to be closer to the clients they serve.
Nynas manufactures specialty oils which go into key segments such as the tyre business, the transformer industry where it acts as insulator oil, and in the traditional lubricants business. 90% of all rubber worldwide goes into tyres which is why Nynas is focusing on the largest segment for this application.
Talking about global tyre trends, Wendroth said, “The tyre market is growing fast in India, and Asia in general is experiencing growth rates much higher than in Europe. Production is shifting to the east and traditional strong players are going to growing markets. With production centres moving to these countries, not only export, but domestic markets in South and South East Asia, especially India and China, are important to Nynas’ growth strategy.”
The global specialty oil market is moving to more environmental friendly and safer products, given that these safe oils are also contributing to fuel economy and in safe driving, where research indicates that Nynas products perform better on wet roads.