Dublin, April 29, 2021 (GLOBE NEWSWIRE) -- The "Rubber Conveyor Belt Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
Global Rubber Conveyor Belt Market is expected to register a CAGR of 4.02% over the forecast period (2021 - 2026). The market is witnessing major acquisitions and mergers which is shaping the market landscape. In March 2018, Portfolio company of Incline Equity Partners -- Midwest Industrial Rubber acquired Maple Grove, a fabricator and distributor of lightweight conveyor belt.
The main driving factor for rise of conveyor belt usage is growth of e-commerce industry. Warehouses are proliferating due to which there is an increasing need of material handling and reducing downtime. US-based SpanTech LLC offers e-commerce conveyors for automation of e-commerce fulfillment processes.
However, the market is largely affected by fluctuations in raw material prices, which act as a challenge for market growth. Increase or decrease in rubber prices is dependant mainly on market conditions such as global supply/demand position, crude oil price movements and the consequent impact on prices of synthetic substitutes.
Key Market Trends
Mining Industry to Dominate the Marjet
Mining industry heavily relies on conveyor belts to transport materials taken from the for processing. In August 2019, Coal India announced a 10,000 Crore investment in conveyor belts to transport coal directly from mines in a cheaper and cleaner way without using trucks. It will also cut down theft as well as diversion of coal and help maintain quality.
In February 2019, Semtech Corp and Transco Industries partnered up to provide a remote monitoring solution for conveyor belts in the mining industry.Semtech's LoRa Technology enables miners to remotely monitor conveyor belts, therefore reducing maintenance costs and helping to prevent belt failure.
UK-based conveyor belt makes Fenner Plc was acquired by Michelin in March 2018 in order to allow Michelin Group to provide mining industry customers with a broader offering, ranging from tires to conveyor belts with related services and solutions, and also enhance both companies' geographic reach.
Fenner Dunlop, a pioneer in mining conveyor belt, manufactured the largest fabric belts on record in March 2019. The 580 m roll of UsFlex D12 belt was sent to a customer in the Pilbara.
Germany-based ContiTech's conveyer belts in extensively being used in Jamaica for the transport of bauxite, generated 1,300 kW per hour which can be fed back into the grid. They are also being used by Botswana's largest diamond producer.
Asia-Pacific to Witness the Highest Growth
The increasing demand for conveyor belt in this region is due to rise in e-commerce operations, especially in China, to handle large volume of goods.
In August 2019, Shandong New Continent Tire, a fully owned subsidiary of China's passenger car tire and carbon black maker Shandong Yinbao Tyre Group, signed a contract with Qingdao local authorities to build a new conveyor belt plant. It will be located in at Xinhe Eco-Chemical Park in Qingdao, having total area of about 2.2 million square feet.
Improving economic conditions and increase in air-traffic population in emerging countries such as India is causing the government to build more airports and modernize the old ones.
Acquisitions are also helping to shape the market landscape. For instance, in June 2019, FPS Food Process Solutions Corporation (FPS) announced it had signed an agreement to acquire Total Solutions Limited (TSL), a leading fabricator of food processing equipment and conveyor systems in Auckland, New Zealand.
Conveyor supplier Kinder Australia launched a new international website in March 2019, focused on expanding its business into the Asia Pacific region. The expansion is supported by the company's 3000 sq. meter warehouse facility, storing more than 8000 conveyor hardware components and accessories
The market is fragmented due to an increasing number of end-user industries deploying conveyor belts for ease in processing and mergers by companies to bring innovation in this domain.
October 2019 - Krispy Kreme Doughnuts will open in December 2019 in Santa Maria. The store will feature Krispy Kreme's iconic doughnut conveyor belt that allows customers to watch as the confections are prepared and finished by running under a glaze waterfall.
October 2019 - Conveyor belt producer Smiley Monroe announced to open a manufacturing facility in Franklin, Kentucky. The construction will start in 2020. The move is in response to growth in the US customer base as well as increasing political uncertainty, export restrictions.
April 2019 - The Canadian port of Vancouver started using Continental conveyor belts for the trans-shipment of potash from its docks across the world. With loading capacity of up to 2,500 metric tons per hour, the belts also feature ContiPlus online service which enables the monitoring of the performance of the conveyor belts.
February 2019 - Flexco launched a new product in its conveyor belt maintenance line, Flexco TUG HD Belt Clamps. TUG HD Belt Clamps provide even tensioning across the entire belt width, with an extruded non-slip grip pattern on the aluminium bars that provides ultimate holding power.
February 2019 - Singer Equities Inc. acquired Quality Conveyor Solutions L.L.C., which provides conveyor belt, accessories and field services, including installation and mobile maintenance.
Reasons to Purchase this report:
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Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 EXECUTIVE SUMMARY
3 MARKET DYNAMICS
3.1 Market Overview
3.2 Introduction to Market Drivers and Restraints
3.3 Market Drivers
3.3.1 Growth of E-Commerce Industry.
3.3.2 Increase in Productivity at Manufacturing Facilities.
3.4 Market Restraints
3.4.1 Fluctuations in Raw Material Prices
3.5 Value Chain Analysis
3.6 Industry Attractiveness - Porter's Five Force Analysis
3.6.1 Threat of New Entrants
3.6.2 Bargaining Power of Buyers/Consumers
3.6.3 Bargaining Power of Suppliers
3.6.4 Threat of Substitute Products
3.6.5 Intensity of Competitive Rivalry
4 MARKET SEGMENTATION
4.1 By Type
4.2 By End-user Industry
4.2.4 Metal Processing
4.3.1 North America
4.3.4 Latin America
4.3.5 Middle East & Africa
5 COMPETITIVE LANDSCAPE
5.1 Company Profiles
5.1.1 Oxford Rubbers Pvt. Ltd.
5.1.2 Muller Beltex B.V.
5.1.3 T-Rex Rubber International B.V.
5.1.4 The Yokohama Rubber Co. Ltd.
5.1.5 Bando Chemical Industries Ltd.
5.1.6 Bridgestone Corporation
5.1.7 Oriental Rubber Industries Pvt. Ltd.
5.1.8 Fenner Grouo Holdings Ltd.
5.1.9 Mitsuboshi Belting Ltd/JP
5.1.10 Wuxi Boton Belt Co. Ltd.
6 INVESTMENT ANALYSIS
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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