Rubber processing equipment: Key market research findings
- Emerging energy-saving and environment-friendly advanced intermeshing mixers
- Growth of global tire market
- Key vendors include Bosch Rexroth, Buzuluk, GRM, Kobe Steel, and Wuxi Double Elephant
Technavio has released a new report on the global rubber processing equipment market, which is anticipated to grow at a CAGR of around 10% between 2016 and 2020. Rubber processing equipment is used to process raw rubber through methodologies like mastication and other methods like mixing, extrusion, and calendering. The majority of the demand for rubber comes from the tire manufacturing industry and the growing automotive manufacturing which will drive the overall market in the coming years. APAC dominated the market in 2015 and accounted for more than 62% of the total market share. The demand for tires and the proliferation of the rubber processing equipment market is attributed to the augmented demand for tires in the region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, the rubber industry is increasingly focusing on the technology to develop fuel-efficient tires. The industry is exploring the development of functional rubber consisting of new materials and composite materials and is paying attention towards environmental load reduction technologies. Production and manufacturing processes have also been re-engineered to reduce stress on the natural environment. Also, the demand for mixers suitable for new materials and high-quality mixing has been growing, especially in rubber product industries for fuel efficient tires,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research
The tire manufacturing industry has witnessed steady growth with more people purchasing automobiles. After the global recession, many automobile companies and second-hand car owners are investing in new sets of tires instead of buying a whole new vehicle. Factors such as the growth in income levels and disposable income is boosting car ownership and spurring demand in the original equipment manufacturing sector. Such developments have offered huge impact on the market for the replacement of motor vehicle tires. The demand for light vehicles is also expected to be on the rise in a bid to curb carbon dioxide emissions.
The global rubber processing equipment market is highly fragmented due to the presence of well-established international and regional players. The small vendors make it difficult for the international vendors to compete with them in terms of product features, functionalities, and services as they offer products and services at a lesser price than the international suppliers. With the introduction of products with new features and technologies, the competition among the vendors is likely to intensify in the future.
A more detailed analysis is available in the Technavio report, Global Rubber Processing Equipment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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