The Rubber Conveyor Belt Market is expected to reach USD 42.01 Billion by 2028, according to a new report by Reports and Data. The Rubber Conveyor Belt market is driven principally by the automotive industry. Rubber Conveyor Belt is primarily used for making tires. Construction activities led by developing economies across the world will generate demand. The volatility of the oil prices, concerning government regulations and environmental concerns, lack of suppliers, and the growing threat of alternatives are factors hindering the growth of the industry.
The North American region accounted for the second-largest share of 30.3% of the market in 2018. The growing demand for fuel-efficient automotive parts due to environmental concerns and strict regulations is anticipated to drive growth in this region. In the United States, currently, 111 companies are working within the tire and rubber industry. When combined, they are accountable for more than 42,000 direct employment possibilities.
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Rubber Conveyor Belt Industry Overview
The global materials chemicals industry revenue growth can be majorly attributed to increasing demand for essential consumer goods including soaps, detergents, and beauty personal care products worldwide, rising preference for sustainable and eco-friendly raw materials, and growing use of advanced chemicals and raw materials in industries including agriculture, food beverage industries, buildings construction, automotive, packaging, and manufacturing industries. Other major factors driving the growth of this industry are rising pollution levels, increasing environmental awareness, increasing use of technologically advanced chemicals and materials, and rising demand for organic materials.
The global materials chemicals industry involves the production, distribution, sales, and consumption of industrial chemicals, specialty chemicals, commodity (bulk) chemicals, and raw materials such as natural gas, oil, paper pulp, and metals minerals. Growth of the global materials chemicals industry is mainly attributed to fast-paced industrialization and extensive usage of bulk petrochemicals, electronic chemicals, polymers, inorganic chemicals, fertilizers, adhesives, sealants, coatings, and various other products in different industries including oil gas, pharmaceutical, food beverage, cosmetics personal care, textile, manufacturing, petrochemical, and water and wastewater treatment industries. Technological innovations in the electronics and semiconductor industries, rising demand for nanomaterials, and increasing preferences for environmentally sustainable chemicals and materials are other major factors contributing to the global materials chemicals industry growth.
Top Companies Profiled in the Report:
Sinopec, Lanxess, The Goodyear Tire and Rubber Company, ExxonMobil, Kumho Petrochemical, TSRC Corporation, Nizhnekamskneftekhim,JSR Corporation, LG Chem, Versalis S.P.A., Zeon Corporation, PetroChina, Sibur, Group Dynasol, Kraton Corporation.
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Product Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)
Mechanical Rubber Good
Rubber Belt
Rubber Hose
Rubber Roofing
Others
Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)
Synthetic Rubber
Natural Rubber
Application Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)
Automotive
Building Construction
Industrial Manufacturing
Electrical Electronics
Others
Process Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)
Molding Casting
Extrusion
Calendaring
Roller Die
Coating
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