Founded by George Varughese, Midas is Asia’s largest supplier of tyre retreading materials, offering a wide range of products including Precured Tread Rubber, Bonding Gum, Cushion Compounds, and more. Based in India’s natural rubber hub of Kottayam, Midas combines deep material science expertise with scalable global operations, shipping over 24,000 tons of products annually.
At Autopromotec 2025, Midas Mileage highlighted its longstanding presence in the tyre retreading sector, built on steady innovation, reliable quality, and an expanding international footprint. “We are Midas, based in Kerala, India, and we supply tyre retreading materials across India and globally,” said Paulose Varughese, Director of Midas Mileage.
“We’ve been around since 1969 and sell in about 60 countries—including the UK, Germany, and Portugal. Europe has been an important market for us for the last 20 to 25 years.”
Challenges in the European Market
The European tyre market is currently navigating headwinds due to a surge in inexpensive Chinese imports. These low-cost alternatives have made it difficult for the retreading industry to thrive, despite protective tariffs. “The big challenge in Europe is the influx of Chinese tyres. Even with high import duties, they’re still very cheap.
But they’re designed for single use—the casing isn’t retreadable,” he explained. “This use-and-throw model affects the sustainability of retreading businesses. Many are shutting down, except for niche segments like OTR tyres.”
A Strategic Position Between Quality and Affordability
Midas has positioned itself strategically to serve a sweet spot in the market—offering high-quality products at reasonable prices. This enables customers to avoid the risks of ultralow-end products while staying cost effective.
“We’re not the cheapest, but we’re not high-end either. We aim for that middle ground—good quality at a fair price,” he said. “This is where we’re gaining traction. As more retreaders look for reliable suppliers in the face of shrinking margins, we offer a strong value proposition.”
Innovation for Fuel Efficiency
A major differentiator for Midas is its commitment to innovation. The company has developed compounds focused on delivering better fuel efficiency and reduced rolling resistance, resulting in improved diesel mileage for commercial fleets.
“We’re constantly innovating. Our latest compound helps improve fuel efficiency and lower rolling resistance. That means better mileage, which matters more than ever,” he said. “Our goal is to keep offering meaningful value through performance improvements. Few others in this space are as innovation-driven.”
Midas in the Indian Market
Domestically, Midas maintains a strong presence in every Indian state through an expansive dealer network. While the Indian retreading market has been impacted by a shift toward radial tyres, the quality of retreading is undergoing an evolution.
“Retreading in India isn’t what it used to be—not because of Chinese imports, which are restricted—but due to the shift to radial tyres,” he shared. “That transition requires a higher quality of retreading. Fleets have lost confidence, so the industry is pushing to raise standards.”
Industry Advocacy and Quality Focus
Paulose also highlighted Midas’s role in TREA (Tyre Retread Education Association), a body focused on raising awareness and standardization in the retreading industry.
“We’re part of TREA, which is working to promote higher retreading standards in India,” he said. “We believe better standards will restore confidence among fleets. And Midas is doing its part by delivering consistent, reliable materials.”
Focus on Commercial Applications
Today, the majority of retreading is concentrated in the commercial vehicle sector. Retreading for passenger cars remains minimal in India, making truck and bus fleets the core customer base. “Most of our business is with commercial vehicles—trucks and buses. Car retreading is almost negligible,” he noted. “So, our R&D and support are aligned with fleet demands and long-haul performance.”
Midas’s roadmap is centered on sustained innovation, improved quality, and industry advocacy. The company aims to keep evolving with customer needs, while ensuring the core values of reliability and performance remain intact. “In the next five to ten years, we hope to introduce new technologies and improve the overall quality of retreading,” he said. “Our goal is to make retreading more efficient, more accepted, and more respected across markets.”
