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Global demand for rubber conveyor belts is forecast to rise 5.3% per year through 2022. Growth in demand is expected to stem largely from an acceleration in global mining output and sustained advances in global manufacturing. The expanding use of rubber additives to increase the performance capabilities of rubber conveyor belts will also contribute to growth, as these types command a higher price.
Key Findings in the Global Rubber Conveyor Belts Study:
Industrializing Nations to Comprise the Largest Share of Rubber Conveyor Belt Demand Gains
Led by China, the world’s industrializing nations have significant growth potential for rubber conveyor belts. These countries typically have mining industries that are less mechanized and manufacturing industries that are less automated than those in developed countries, historically limiting sales opportunities for rubber conveyor belts. However, as foreign investment in developing countries increases, these industries are expected to continue modernizing and developing, bolstering conveyor belt sales.
Developed countries have more limited growth prospects. These areas already possess highly automated manufacturing and mechanized mining industries that utilize a large number of conveyor belts. While some opportunities remain for conveyor belt sales in new production lines or mining operations, the majority of demand is replacement-oriented.
Textile Reinforced Belts to Remain Dominant but Continue to Lose Share to Steel Cord Belts
The lower costs associated with textile reinforced belts will allow these products to retain their position as the most widely used type of rubber conveyor belt. Textile reinforcements provide a good balance between price and strength, making these products suitable for use in most applications.
However, rubber conveyor belts with steel cord reinforcement will register faster gains in demand through 2022, largely supported by an acceleration in global mining output and increased exploration activity in new mines. Steel cord belts are generally preferred in mining applications because of their greater impact resistance. Higher raw material costs due to expected price increases for steel will also contribute to value growth.
Manufacturing to Register the Fastest Growth; Power Generation to Post Slowest Gains
Strong expected gains in manufacturing output – largely a result of continued economic growth in developing countries – will stimulate associated rubber conveyor belt sales.
Rubber conveyor belt use in power generation applications, on the other hand, will expand most slowly. A global shift away from coal-fired power plants, where conveyor belts are overwhelmingly installed, will limit additional demand opportunities. Some developed countries are seeking to completely phase out coal as a power source, which would effectively eliminate this market segment in those countries.
This study presents historical demand data (2007, 2012, and 2017) and forecasts for 2022 by product (textile reinforced, steel cord), and region (North America, Central & South America, Western Europe, Eastern Europe, Asia/Pacific, and Africa/Mideast). The study also evaluates select company market share and analyzes industry competitors including Bando Chemical, Bridgestone, Continental, Fenner, Mitsuboshi, Semperit, Wuxi Boton, Yokohama Rubber, Zhejiang Double Arrow, and Zhejiang Sanwei.
This study is an expansion of the global industrial rubber products study but focuses on a single product area - conveyor belts.
The following types of products are included:
textile reinforced belts
steel cord belts
other conveyor belts, including belts with multiple reinforcements
Excluded from the study are:
non-rubber conveyor belts
other conveying systems, such as plastic and steel rollers
other components of a conveyor system, including pulleys, rollers, and drive systems
Related areas of interest:
Global Industrial Rubber Products
Global Mining Equipment
Material Handling Equipment
While most rubber conveyor belts feature a flat surface, various types of grooved surfaces are also available. The type of belt cover selected often depends on the material being handled and the slope of the conveyor.
Conveyor belts with a textile reinforcement layer are the most common type of belting product. These are more basic belts that have a lower cost and are suitable for use in most applications. Steel cord belts are generally more expensive but offer a number of performance advantages over textile belts that make them better suited in certain applications.