New York City, 30 January 2019: The Rubber Molding Market size was projected to reach 51.42 billion by 2026 and is anticipated to grow at a CAGR of 5.7% during the forecast period, according to a new research published by Polaris Market Research. In 2017, the automotive segment dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market during the forecast period.
Rubber molding is increasingly being used in manufacturing of automotive parts. The growing urbanization and improving living standards have increased the demand for automobiles, thereby supporting the market growth. The growth in global automotive industry and increasing average life of vehicles has resulted in market growth. The growing need for improved fuel efficiency and reduced rolling resistance accelerates the demand for rubber molding. Other driving factors include rapid industrialization, production at faster rates, and modernization of industrial machinery. Increasing demand from developing nations, increasing trend towards green materials, stringent government regulations regarding vehicular emissions and safety, and technological advancements are expected provide numerous growth opportunities to the market players during the forecast period.
The injection molding process is categorized into three types namely organic rubber injection, liquid injection molding, and thermoplastic rubber. Organic rubber injection offers benefits such as elimination of operator placement of pre-forms, easy flow into the cavities owing to decreased viscosity of materials, and quicker cycle times than compression and transfer molding. Liquid injection molding offers benefits such as reduced contamination, optimized cycle times, biocompatibility, inertness and stability, flexibility, and superior heat resistance. The features offered by thermoplastic rubber include simplified processing, and recyclable scraps and parts.
Asia-Pacific generated the highest revenue in the rubber molding market in 2018, and is expected to lead the global market throughout the forecast period. The presence of emerging industries such as healthcare, construction, and automotive, substantial initiatives in research and development, and stringent government policies regarding vehicular emissions, performance, and safety drive the market growth. Rapid industrialization and growth of manufacturing industry further support market growth in the region.
The well-known companies profiled in the report 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. These companies are consistently launching new products to enhance their offerings in the rubber molding industry. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their reach in the market.
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