Rubber molding is the process which yields final usable rubber products. Rubber molding is used to transform rubbers into various rubber components. Market Research Future has determined that the global rubber molding market is expected to grow at a CAGR of 5.3% during the review period. Rubber molding is used extensively in automotive applications for a variety of components.
Automotive rubber molded components are in high demand as they are lightweight. Increasingly strict emission, fuel economy, and safety laws have played a significant role in the adoption of lightweight rubber molded components. Technological advancements are driving the global rubber molding market; a good example is the use of renewable oils to improve rubber car components. This makes them eco-friendly, which further drives the market. The increasing demand for affordable vehicles in emerging economies will further drive the demand for rubber molding.
The growing automotive sector is a key driver for the adoption of rubber molding in this sector. The growing demand for fuel-efficient and lightweight automotive components due to an increasingly environmentally conscious global environment is expected to propel the global rubber molding market.
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The global rubber molding market has been segmented on the basis of component, types, material, vehicle type, and region. Component types have been segmented into hoses, gaskets, diaphragm, bellows, seals, and weather strips.
Types of rubber molding have been segmented into compression molding, liquid injection molding, transfer molding, and others.
Material has been segmented into ethylene propylene diene terpolymer (EPDM), natural rubber (NR), styrene butadiene rubber (SBR), and others . The EPDM segment is significant in the market due to its extensive use for automotive rubber molding. Ongoing development of EPDM materials is likely to provide the market with opportunities.
Vehicle types have been segmented into passenger vehicles and commercial vehicles. The passenger vehicles segment is particularly significant as there is a high demand for cost-effective, lightweight passenger vehicles.
Federal-Mogul Corporation, DANA Holding Corporation, NOK Corporation, Trelleborg AB, AB SKF, Hutchinson Sa, Continental AG, Cooper-Standard Holdings Inc., Sumitomo Riko Co., Ltd., Toyoda Gosei Co., Ltd., and Freudenberg and Co. Kg are among the leading market players that are participating in the global rubber molding market. Their market strategies and several other important details regarding the above-mentioned competitors have been included in the report.
Among the key regions analyzed in the report, the Asia Pacific has emerged as a leading regional market. Made up of China, Japan, South Korea, India, Thailand, and several other countries, the APAC is a heavily populated region. The region also has a number of rapidly emerging economies which have been witnessing a rise in disposable income. As a result, the demand for automotive vehicles has gone up. The region displays an affinity toward the adoption of compact and lightweight, fuel-efficient automotive vehicles, thus driving the market. Moreover, ongoing infrastructural developments and government support have attracted international players and other foreign investments further aiding economic growth in the region. The regions have been established as a manufacturing hub for automotive due to the low production costs, and cheap labor available in the region. The government’s promotion and support for cars that have a minimal environmental impact is another driver for the APAC market. Additionally, the largest producers of rubber are in the APAC region. Countries like Thailand, Indonesia, Malaysia, India, and China are among the leading rubber producers in the world.
The Asia Pacific regional market is followed by Europe.
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