Market Research Report
Automotive Rubber-Molded Components Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||356571|
|Published||Content info||60 Pages
Delivery time: 2-3 business days
|Automotive Rubber-Molded Components Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: June 1, 2019||Content info: 60 Pages||
The global automotive rubber-molded component market is anticipated to register a CAGR of about 6.38% during the forecast period (2019 - 2024).
The global automotive rubber-molded component market is segmented by material type, component type, vehicle type, and geography.
Advances in release agents, nowadays, are making rubber and its components more attractive to auto manufacturers. For hundreds of years, rubber has been used in the automotive industry. Rubber-molded products, which were formerly extracted from natural materials, are now being made from inexpensive and common synthetic polymers, owing to many factors, including weight, environmental, expense, and longevity concerns. These rubber-molded components can be molded into all shapes, sizes, and colors, for different use in the automotive industry.
Advancements in rubber made auto components sturdy, sealable, and water- and chemical-resistant. It also has both, a good weight/volume ratio and performance/cost ratio. Rubber is inexpensive and can be molded into a wide range of parts and products. One of the major advantages of the parts made of rubber is that they can be disposable and recyclable, thus benefiting the environment. Therefore, growth in the use of rubber is driving the market studied.
Ethylene Propylene Diene Monomers (EPDM) accounted for most of the market share by raw material type, with natural rubber following closely. However, growing innovations in durability and life of the EPDM-based compounds is expected to propel the market for EPDM in automotive applications over the coming five years. EPDM materials were proved fit for high-pressure conditions and boasted of impact resistance and stiffness. These technical advantages over other raw materials will encourage automakers to prefer EPDM-based molded components to synthetic or natural rubber.
The global automotive rubber molded component market is dominated by Asia-Pacific, followed by Europe and North America respectively. The Asia-Pacific region is the largest market for automotive rubber-molded components, both in terms of production and consumption. This can be attributed to India and China emerging as major automotive components manufacture hubs, sourcing to the western auto giants. Further, government support for FDI in these countries has encouraged small and medium scale regional players to enter the rubber molding market.
China has emerged as the leader in both Asia-Pacific and global rubber-molded automotive components markets. A growing economy and rising disposable incomes have resulted in greater demand for automotive in India and China, in turn, opening new opportunities for the dependent rubber-molding sector. North America, in the light of EPA regulations and CAFE standards, is expected to witness a higher CAGR over the forecast period.
The global automotive rubber molded component market is fragmented and dominated by various players which include, Continental AG, DANA Holding Corporation, Hutchison SA, Trelleborg AB, Federal-Mogul Corporation, Freudenberg and Co. Kg, and among others.
The companies are expanding their business by opening new plants. For instance -