17 Nov 2017 05:29
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Global demand for thermoplastic elastomers (TPEs) as a source for raw material to the rubber products is increasing. Thermoplastic Elastomer (TPEs) consists both elastomer and thermoplastic properties which can provide flexibility as well as toughness and are also tear resistant. These elastomers have the longer life and better physical range than thermoset rubber which includes rubber latex and silicone. TPEs can stretch to moderate elongations and return to its original shape. They can also be recycled or reprocessed at a temperature above melting point. Demand of TPEs are increasing rapidly as automobile companies are looking for ways to reduce motor vehicle weight.
RUBBER PRODUCTS MARKET TO GROW TO $508 BILLION BY 2020 ACCORDING TO THE BUSINESS RESEARCH COMPANY.
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The global rubber products manufacturing market is expected to grow from $410 billion in 2016 to $507 billion in 2020 at a compound annual growth rate (CAGR) of 5.4%. Asia was the largest region in the rubber products manufacturing market in 2016, accounting for $164 billion or 40.1% market share. This was due to high demand for rubber products from manufacturing industries, especially from the industrial machinery and motor vehicle industries.
The chart below shows the year-on-year growth of the global rubber products market during 2016 - 2020.
According to The Business Research Company’s Manufacturing Consultant, Abdul Wasay, rubber manufacturing companies are collecting, processing and measuring data to improve process efficiency and productivity. Technologies include electronic devices that connect through internet and display process information on dashboards. Predictive maintenance technology predicts snags and defects and thus significantly reduces downtime and costs. Rubber manufacturing companies are integrating big data and, IoT technologies to implement preventive maintenance techniques.
Bridgestone Corporation was the largest company in the rubber product manufacturing market with revenues of $31 billion for the financial year 2015. Bridgestone’s growth strategy focuses on enhancing its manufacturing facilities and R&D structure. In January 2017, the company announced an investment of $344 million for its North Carolina passenger tire manufacturing facility, which will include the construction of a new rubber mixer facility of $180 million.
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The rubber products industry comprises establishments that manufacture tires and retreading, rubber hoses and belting, rubber sealants and all other rubber products which have domestic and industrial applications. The rubber products manufacturing industry is further classified as follows
Tire Manufacturing companies manufacture tires, inner tubes and retreading or rebuilding tires from natural and synthetic rubbers other polymeric raw materials. The products include inner tubes, motor vehicle tires, tire retreading, recapping or rebuilding tread rubber. These products are used in automobiles and industrial heavy vehicles.
Rubber Hoses And Belting include companies primarily engaged in producing rubber hoses and belting from synthetic and natural rubber, which are used for industrial and domestic purposes. The products include belting for conveyor, elevator, transmission, fan belts, V-belts, hoses and pneumatic hoses without fittings.
Other Rubber Product Manufacturing comprise establishments engaged in the manufacturing of rubber products such as birth control devices, erasers, mechanical rubber goods ( extruded, lathe-cut, molded), prophylactics, pipe, reclaiming rubber from waste or scrap, roofing, single-ply rubber membrane, rubber bands, stair treads, thread, toy inflatable rubber swimming pool rafts and weather-stripping.
Rubber Products Global Market Briefing is a detailed report giving a unique insight into this market. The report is priced at $1000 for an individual user. To use across your office the price is $1500 and $2000 if you wish to use across a multinational company.
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