India’s automotive sales and production revved up last year, boosting demand for CRCs. It may be noted that 60-65% of CRCs are used in the auto industry. CRCs are much favoured for several benefits, including strength and durability, resistance to corrosion and high formability aspects. SIAM data reveals that India’s automobile sales increased 10% y-o-y in 2023 to 2.28 million units (MU) while production also rose slightly y-o-y to 2.59 MU.
