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Rubber Conveyor Belt Market 2020 | Application and Future Forecast by 2026

Author : Rahul Varpe | Published Date : 2020-09-08 

The global rubber conveyor belt market is expected to emerge as a lucrative investment avenue in coming years owing to the increasing usage of the product across various industries. Rising industrial-grade usage of cleaning agents is likely to foster industry expansion in coming years.

The market is also set to witness immense growth due to their increasing demand across mining, power generation, and manufacturing industries throughout the world over the coming years. With their extensive adoption across various sectors, some exceptional characteristics such as high versatility, cost-effectiveness, and lightweight nature are further driving the demand for rubber conveyor belts across various industries.

On the account of these growth factors, estimates the global rubber conveyor belt market is set to surpass a valuation of $4 billion through 2026.

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With reference to the application segment, the mining industry is expected to observe a growth in the use of rubber conveyor belts over the forthcoming timeframe. Rubber conveyor belts witness a massive demand in open pit mining and underground mining since these belts provide efficient transportation services for moving big materials over long, medium, and short distances across topographically demanding terrains.

These belts are extensively used in long-distance coal conveying owing to their flame-resistant, oil-resistant, anti-abrasive, and heat resistant traits and power-saving capabilities. Apart from these development factors, improving economic conditions and growing population is triggering a rise in the use of commodities such as coal, iron ore, and copper, further fueling the revenue growth in the mining industry.

With respect to the material segment, the market is bifurcated into steel reinforced belts, solid woven belts, and textile reinforced rubber conveyor belts. Among these, the textile reinforced belts segment generated an impressive revenue of more than $3 billion in 2018 and is expected to grow substantially over the coming years.

The textiles reinforced conveyor belts segment is further bifurcated into performance textiles and commodity textiles. These type of conveyor belts are used extensively in some industries since they are made of polyester and nylon blends, which provide massive tensile strength as well as better fatigue resistance and exceptionally good abrasion resistance as well.

Apart from these beneficial features, the belts also provide good dimensional stability and a very low moisture absorption which is impelling their segment share in the market.

On the regional forefront, the North America rubber conveyor belt industry is slated to witness exceptional growth in coming years, primarily led by the U.S. The region is witnessing the rising demand for belts, mainly from the manufacturing and mining sectors. The United States is classified among some of the top mining nations across the globe.

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The country boasts of vast mineral deposits spanning from a wide variety of non-ferrous and ferrous metals. In addition, the presence of a number of mining industries in North America would make a positive impact to the regional product growth. Considering these growth factors, the regional industry size is projected to surpass a valuation of $1.5 billion through 2026.

The competitive landscape of the global rubber conveyor belt market is inclusive of players like ARTEGO, Oxford Rubbers, SIG Societa Italiana Gomma, Garlock, Bando, LUTZE, Trelleborg, Fenner, ContiTech, YOKOHAMA, and Bridgestone among others.

 

 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. [email protected] | https://twitter.com/varperahul

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