Rubber Conveyor Belt Market Revenue to Cross USD 4.39 Bn by 2027: Global Market Insights Inc.
May 19, 2021
Rubber Conveyor Belt Market Growth Predicted at 3.7% Through 2027: GMI
Asia Pacific rubber conveyor belt market will account for over USD 2.7 billion by 2027.
According to the latest report, "Rubber Conveyor Belt Market By Material (Steel Reinforced, Textile Reinforced, Solid Woven Belts), Application (Light Weight, Medium Weight, Heavy Weight), End-use (Mining, Cement Manufacturing, Power Generation, Recycling, Metal Processing), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027", by Global Market Insights Inc., the market valuation of rubber conveyor belts will cross $4.39 billion by 2027. Rising infrastructure development activities, a positive outlook of the mining sector, and technology advancements in rubber conveyor belting solutions will positively impact the market growth during the forecast timeframe.
Rapid industrialization in emerging economies along with a positive outlook of the mining sector in North America and Latin America will drive the demand for rubber conveyor solutions. The growing metal processing sector along with the development of advanced rubber technologies that minimizes power consumption in conveyor applications will further support product penetration. Rubber belts offer excellent rip, impact, and tear resistance in several applications including rock mining and recycling.
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The solid woven belts segment accounted for USD 28.60 million in 2020. The material segment includes leather, fiberglass, etc. The demand for rubber conveyor solutions made from such materials is limited owing to low dimensional stability, low elongation, and poor flex life; however, these solutions are suitable for high-temperature applications. With the availability of various types of materials that provide exceptional dimensional stability and strength to the belt for a wide range of applications, the demand for these types of materials is poised to remain less compared to steel-reinforced and textile-reinforced belts.
The heavy-weight application segment in the rubber conveyor belt market is predicted to reach around USD 1.9 billion by 2027. This type of belt is mainly steel-reinforced or textile-reinforced and primarily used in mining, recycling, metal processing, power generation and others. Commercialization and allocation of lands for mining in emerging economies along with supporting norms for mining in Latin America to attract FDI in the mining sector will further fuel the segment growth.
The rubber conveyor belt market for the recycling sector is anticipated to showcase a growth rate of 4.3% through 2027. Rubber conveyor solutions are installed in material-recovery facilities to carry waste from loading points to sorting points. A positive outlook of the recycling sector owing to growing awareness of environmental safety and sustainable manufacturing practices will further foster product penetration. The growing recycling sector in North America and Europe along with supportive legislation in these regions for recycling activities are key trends supporting the market expansion.
Asia Pacific rubber conveyor belt market will account for over USD 2.7 billion by 2027. The region accounts for over half of the global cement production and approximately half of the global mining production. China and India are the leading producers of cement and steel along with infrastructure development plans and commercial and residential projects in the coming years, supporting demand for conveyor belts. These growth trends are likely to trigger the demand for rubber conveyor belts across various end-user sectors in the coming years.
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https://www.gminsights.com/roc/4411
Some of the key companies operating in the rubber conveyor belt market are The Yokohama Rubber Co., Ltd.; ContiTech AG; Bridgestone Corporation; Bando Chemical Industries, Ltd.; Trelleborg; etc. Industry players are focused on mergers and acquisitions, geographic expansion, strategic partnerships with tech giants, and product development strategies over the long run.
Table of Contents of the report:
Chapter 3 Rubber Conveyor Belt Market Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2017 - 2027
3.2.1 COVID-19 impact on industry landscape
3.3 Industry ecosystem analysis
3.4 Innovation & sustainability
3.4.1 Patent analysis
3.4.2 Technology landscape
3.4.3 Future trends
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.2 Industry pitfalls & challenges
3.6 Regulatory trends
3.7 Industry megatrends
3.8 Growth potential analysis, 2020
3.9 Competitive landscape
3.10 Porter's analysis
3.11 Regional price trends
3.12 PESTEL analysis
3.13 COVID-19 impact on demand for rubber conveyor belt by end-use industry
Browse Complete Table of Contents at
https://www.gminsights.com/toc/detail/rubber-conveyor-belt-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth-consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision-making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Original Source: Rubber Conveyor Belt Market Revenue to Cross USD 4.39 Bn by 2027: Global Market Insights Inc.
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