PUBLISHER: The Business Research Company | PRODUCT CODE: 1426434
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426434
Rubber testing equipment comprises various tools and devices utilized for assessing the properties and characteristics of rubber materials. These evaluations include parameters such as minimum and maximum viscosity, scorch time, conversion time, and curing profiles of rubber compounds. These tests are conducted under isothermal and non-isothermal conditions at constant user-defined strain and frequency, ensuring the quality, durability, and performance of rubber products.
The primary product types of rubber testing equipment include rubber process analyzers, moving dye rheometers, mooney viscometers, and others. A rubber process analyzer (RPA) is an advanced testing instrument used to analyze the rheological and dynamic mechanical properties of rubber materials throughout various processing stages. It can be employed for different types of testing, such as density testing, viscosity testing, hardness testing, flex testing, among others, at various frequency ranges, including less than 1 Hz, 1 to 4 Hz, and more than 4 Hz. These testing instruments find application in diverse end-users such as those involved in density testing, viscosity testing, hardness testing, flex testing, and others.
The rubber testing equipment market research report is one of a series of new reports from The Business Research Company that provides rubber testing equipment market statistics, including rubber testing equipment industry global market size, regional shares, competitors with a rubber testing equipment market share, detailed rubber testing equipment market segments, market trends and opportunities, and any further data you may need to thrive in the rubber testing equipment industry. This rubber testing equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rubber testing equipment market size has grown strongly in recent years. It will grow from $13.7 billion in 2023 to $14.49 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth observed in the historical period can be attributed to several factors, including the globalization of trade, adherence to regulatory compliance, an increased focus on product quality, overall industry growth, and the expansion of end-user industries.
The rubber testing equipment market size is expected to see steady growth in the next few years. It will grow to $17.55 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The anticipated growth in the forecast period can be attributed to factors such as increasing environmental regulations, the growth of emerging markets, a trend towards product customization, and the adoption of energy-efficient solutions. Noteworthy trends expected in the forecast period include advancements in IoT (Internet of Things) and automation, increased investments in research and development (R&D), technological advancements, the utilization of data analytics and connectivity, as well as market consolidation and strategic alliances.
The anticipated surge in demand for rubber tires is set to drive the growth of the rubber testing equipment market. Rubber tires, composed primarily of rubber compounds, serve as crucial components mounted onto the wheels of vehicles and machinery. The development, quality control, and performance assessment of rubber tires heavily rely on rubber testing equipment. Given the indispensable role of tires in vehicles, necessitating specific properties and performance characteristics for safety, durability, and optimal handling, the demand for rubber tires has witnessed a significant increase. For example, a report by The Observatory of Economic Complexity revealed that global rubber tire shipments rose by 21.3%, from $71.8 billion to $87.1 billion, between 2020 and 2021. Consequently, the escalating demand for rubber tires acts as a driving force for the rubber testing equipment market.
The expanding automotive industry is poised to fuel the growth of the rubber testing equipment market. Encompassing various activities related to the design, development, manufacturing, marketing, and maintenance of motor vehicles, the automotive sector heavily relies on rubber components. Rubber testing equipment plays a pivotal role in ensuring the quality and reliability of these components, particularly critical parts such as tires and seals. The need for rigorous testing enhances safety, performance, and durability while mitigating the risk of defects or failures. Statistics from the European Automobile Manufacturers Association indicated a 5.7% increase in worldwide motor vehicle production, reaching 85.4 million units in 2022. Similarly, global vehicle sales grew by 5.03%, from 78,787,566 units in 2020 to 82,755,197 units in 2021, according to the International Organization of Motor Vehicle Manufacturers. Thus, the robust growth of the automotive industry contributes to the expansion of the rubber testing equipment market.
The potential challenge to the growth of the rubber testing equipment market is posed by the lack of rubber availability. This refers to a situation characterized by a shortage or restricted supply of rubber, whether natural or synthetic, impacting various industries and applications. Since rubber serves as the primary material for testing in rubber testing equipment, a shortage can limit production and availability of such equipment. A case in point is the reported 6.3% decrease in Malaysia's natural rubber production in May 2022 compared to the previous month. Such fluctuations in rubber supply can hinder the growth of the rubber testing equipment market.
Major companies operating in the rubber testing equipment market are actively innovating to meet evolving consumer needs. The introduction of advanced compression stress relaxometer testing equipment is one such innovation, offering precise testing of elastomeric seals. In November 2021, Wallace Instruments launched the WAC11 Mk5, an advanced seal testing instrument surpassing its predecessor. This equipment simplifies the assessment of rubber seals' compression stress relaxation (CSR) properties, making it a valuable tool in sectors such as the automotive industry.
In May 2022, Aignep AG, a Swiss automation company, acquired Alpha Technologies LLC, a US-based testing equipment manufacturer. This strategic acquisition aims to strengthen Aignep AG's presence in the industry, providing clients with comprehensive, cutting-edge solutions. Alpha Technologies LLC specializes in designing, producing, and marketing high-precision testing equipment for rubber and polymers, along with data processing software.
Major companies operating in the rubber testing equipment market report are TA Instruments Inc., Waters Corporation, TesTex Inc., Applied Test Systems Ltd., Shimadzu Corporation, Zwick Roell Group, Gotech Testing Machines Inc., Instron, TMI LLC, NDC Technologies Inc., Labtech Engineering Co. Ltd., Haida International Equipment Co. Ltd., Elastocon AB, Testing Machines Inc., Labthink Instruments Co. Ltd., NextGen Material Testing Inc., Montech Rubber Testing Solutions, Tinius Olsen Testing Machine Company, Qualitest International Inc., U-Can Dynatex Inc., ADMET Inc., Prescott Instruments Ltd., Saehan Group, JM Machinery, Alpha Technologies Inc.
Asia-Pacific was the largest region in the rubber testing equipment market in 2023,and is expected to be the fastest-growing region in the forecast period. The regions covered in the rubber testing equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the rubber testing equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The rubber testing equipment market consists of sales of tensile testing machines, hardness testers, flexometers, abrasion testers, heat aging ovens, rheometers, and chemical resistance testers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Rubber Testing Equipment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on rubber testing equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for rubber testing equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The rubber testing equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.