New York, NY 07 Oct 2020: The globalrubber molding market size is expected to reach USD 51.42 billion by 2026 according to a new study by Polaris Market Research. The report “Rubber Molding Market Share, Size, Trends, Industry Analysis Report By Type (Injection Molding, Transfer Molding, Compression Molding); By Material (EPDM, SBR, Natural Rubber); By End User (Automotive, Healthcare, Industrial, Sporting Goods); By Regions, Segments & Forecast, 2020 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Molded rubber parts offer excellent performance characteristics and qualities compared to many other materials, which makes it a great choice for a wide range of automotive, healthcare, sports gear and other applications. High demand for automotive tooling among shops supplying the major car makers is creating a demand for new products. Also, these products are highly used in the aerospace industry to perform in extreme pressure and temperature situations on engines and airframes. The companies operating in the rubber molding industry are skilled with industrial mold and they can easily make the transition from industrial products to medical or automotive products as both these industries require similar safety standards.
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Use of molding in development of these products provides excellent processing performance, fast cure rates, reduced cycle times and lower production costs. With increasing end use applications, the demand for these products is growing at an advanced rate which has propelled companies to enhance their research and manufacturing capabilities. For instance, in June 2017, Jokey Group extended its international manufacturing footprint with the acquisition of injection molder Treplas SL in Spain. Furthermore, technological advancement also plays a vital role in development of this industry segment. Emergence of robotics and automated manufacturing techniques are driving the growth of this market at a significant rate.
Factors such as price volatility, shortage of advanced raw material, and regulatory issues are some of the factors that are likely to restrain the growth of this market during the forecast period. As the application of liquid silicone rubber is increasing in automotive, medical and other markets, the molders are experiencing resin shortages. The industry has seen supply shortages caused by a global net reduction in silicone monomer capacity. However, emerging economies and growing presence of international players in the developing and under developed countries is expected to offer significant growth opportunities during the forecast period. Growing population, increasing demand for advanced technologies, rapid development of the automotive industries and growing industrial sectors are providing a new avenue for the players to enhance their business by expanding their global presence.
The global market is dominated by Asia-Pacific as the automotive industry is this regional segment is growing at a rapid pace. Moreover, increasing adoption of advanced vehicles, growing development in industrial sectors and technological advancements are some additional factors driving the growth of the market in this region. Though, this regional segment experiencing a booming market growth, increasing environmental concerns with adoption of rubber and plastic components, and fluctuating raw material prices are expected to have a negative impact.
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Furthermore, companies in the North American and European region are strategically strengthening their market presence by adopting expansion, collaborations, acquisitions, agreements and product development as their primary strategies. For instance, in October 2018, Tenneco acquired Federal-Mogul, one of the key players in the US rubber molding industry. Also, various conferences and seminars being held across the globe to create awareness about the advanced technologies and manufacturing processes. For instance, In July 2018, The German Rubber Conference was organized by the Deutsche Keramische Gesellschaft e.V. DKG at the NurnbergMesse GmbH in Nuremberg, Germany.
The key players in the market include Freudenberg and Co. Kg, Continental AG, Sumitomo Riko Co. Ltd., NOK Corporation, Federal-Mogul Corporation, Hutchinson SA, Toyoda Gosei Co., Ltd., Trelleborg AB, Bohra Rubber Pvt. Ltd, and Steele Rubber Products among others.
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