Global Rubber Conveyor Belts Market Size, Share, Forecast Report, 2020-2027

A conveyor belt is engineered to provide excellent rip, tear, and impact resistance in many applications, such as hard rock mining (limestone, granite, trap rock and other aggregates) and recycling. A rubber conveyor belt is made up of an abrasion resistant material, which is a blend of neoprene, nitrile, and styrene butadiene rubber (SBR) and inserted with a cloth fabric. The styrene butadiene rubber provides better durability, whereas, the neoprene and nitrile rubbers conveyor belt provide excellent chemical resistance, which resist the degrading effects of several chemicals and other petroleum-based solvents. The cloth-inserted rubber conveyor belt is an ideal for applications in various industrial machines, industrial level pads, strips, and flaps.

The major key driving factors for the growth of this market are the growing investments in construction, food and beverage, and mining activities, globally, and the increasing use of rubber additives. The growing concerns over environmental impact of mining activities and the high initial investments needed for setting up a plant are some of the factors that are hindering the market growth. However, the increasing recycling, growing per capita disposable income in countries such as China and India, growing demand for eco-friendly conveyor belts with self-cleaning, and developing economies from emerging countries, such as India, Brazil, and Argentina, are providing growth opportunity.

The global rubber conveyor belts market has seen a significant growth during the forecast period. The technology advancements in conveyor systems such as the concept of green conveyor and smart conveyor belts and the rapid industrialization are a few factors that are also contributing in the growth of this market.

Competition among rubber conveyor belts manufacturers and the government regulations to reduce carbon footprints, has encouraged the manufacturers to design the system as per the government regulations across different regions, which is considered as one of the key factors responsible for the growth of this market.
Segmentation: Rubber Conveyor Belts Market
The global rubber conveyor belts market is segmented on the basis of type, application, and region. On the basis of type, the global market has been segmented into light-weight, medium-weight, and heavy-weight conveyor belts. On the basis of application, the global market has been segmented into food, mining, construction, airline, and others.

Geographically, the global rubber conveyor belts market has been segmented into four major regions namely North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is estimated to hold the largest market share throughout the forecast period owing to growing mining and construction activities in Australia and China. Moreover, the rapidly growing population in countries such as China and India, the improving economic condition in Thailand, Vietnam, and India, and the growing investment in food industry are expected to further boost the demand for rubber conveyor belts in this region. However, North America is expected to witness a significant growth during the forecast period due to the growing adoption of rubber conveyor belt in the US, Mexico, and Canada. Furthermore, the developing economies in South America and Africa, is expected to accelerate the market growth in the RoW over the forecast period.

The prominent players in the global rubber conveyor belts market include Bando Chemical Industries, Ltd (Japan), Intralox (US), Fenner Dunlop (US), Volta Belting Technology Ltd (Israel), Fives (France), Bridgestone (Japan), ContiTech AG (Germany), Goodyear Rubber Products. Inc, (US), Qingdao Rubber 6 Conveyer Belt Co., (China), and The Yokohama Rubber Co., Ltd (Japan).