Global Rubber Molding Market: Overview
Rubber molding is the process of shaping rubber into functional products in the automotive industry. Rubber molding products are enclosed in a mold cavity and are then changed into the desired shape. Rubber molded components are used in some major areas which include solenoid valves, brakes, clutch assemblies, transmissions, electric motors, engines, batteries, steering, and air conditioning systems.
Global Rubber Molding Market: Growth Factors
The major factors responsible for the market growth are increasing vehicle production, technological advancements, and rising demand for lightweight materials anticipates to boost the global rubber molding market. Growing adoption of the lightweight materials in automobiles and stringent regulations set by the government for fuel efficiency, emission, and safety norms anticipates fueling the global market growth. Technological advancements and increasing use of the soy oil in order to enhance rubber car parts are some factors that contribute to fuel the market growth. Soy oil improves rubber stretching ability and reduces environmental impact.
Global Rubber Molding Market: Segmentation
The global rubber molding market is segregated based on the material type, components, and vehicle type. The material type segment includes styrene-butadiene rubber, ethylene propylene diene terpolymer, natural rubber, and others. The ethylene propylene diene terpolymer is the leading segment due to resistance to UV exposure, low electrical conductivity, and stability in high and low temperatures. Based on components, the market is classified into bellows, seals, hoses, weather-strips, grommets, gaskets, and others. The weather-strips segment is sub-segmented into hood weatherstrips, door weatherstrips, trunk weatherstrips, and window weatherstrips. The gaskets segment is further sub-segmented as valve cover gaskets, intake manifold gaskets, exhaust manifold gaskets, and oil pan gaskets. Furthermore, on the basis of vehicle type, the market is segregated as HCV, passenger car, and LCV.
Global Rubber Molding Market: Regional Analysis
Asia Pacific is the leading contributor to the rubber molding market across the globe. China is a major potential market for automotive rubber molded components in Asia Pacific region. The presence of large population and low production cost of the vehicles in this region is expected to drive the global rubber molding market growth. Asia Pacific is well known for production and manufacturing of cost-effective and compact cars. Other factors responsible for the market growth are government initiatives for FDIs, easy availability of economical labor, and lenient emission and safety norms. Owing to this reason, the Asia Pacific region has more matured markets than Europe and North America. Stable economic and infrastructural growth in the North America region is positively enhancing the market in the future. The increase in the demand for the automobiles and spending capability of the population in the Latin American region propels the market growth.
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Global Rubber Molding Market: Competitive Players
Major players in the global rubber molding market are Trelleborg AB, Toyoda Gosei Co., Ltd., Federal-Mogul Corporation, NOK Corporation., Hutchinson SA, Sumitomo Riko Co., Ltd., AB SKF, Continental AG, Freudenberg and Co. Kg, Dana Holding Corporation, and Cooper-Standard Holdings Inc.