Dublin – Demand for automotive rubber moulded components is set to grow at a CAGR of 5.20 percent from 2015 to 2020, according to a report supplied by Research and Markets (R&M).
The study, called Rubber Molding Market - Global Trends & Forecast to 2020, projects the market to be worth $40.5 billion (€37.4 billion) by 2020.
Growth factors, it said, include increasing adoption of lightweight materials, government regulations, fluctuating oil prices, environmental concerns.
One the supply side, key points to note are the limited number of suppliers and technological advances, R&M added in a 17 Dec release about the report.
In 2015, Asia-Oceania had the largest share of the automotive rubber mouldings market, while EPDM was the dominant material for these applications, followed by styrene-butadiene rubber (SBR).
Look forward, R&M said: “Increasing demand for comfort and safety creates promising growth opportunities for driver assistance systems, which incorporate automotive rubber moulded components, and would consequently boost the demand for the same.”
The report also highlights metal-replacement opportunities, noting that materials such as EPDM or natural rubber, offer better flexibility and fuel efficiency a – via weight-saving – than conventional metal parts.
“The replacement of conventional metal parts with rubber moulded components will therefore help in meeting the stringent fuel economy and emission norms in regions such as North America and Europe,” said the study.
On the other hand, rising raw material prices are identified as a serious threat to growth in this market: “For instance, EPDM is one of the most versatile and fastest-growing rubber moulding materials, and provides excellent resistance to heat, oxidation, ozone, and weather withstanding capacity.
“However, owing to its high cost, its use in the automotive market is restricted to high-end vehicles.”
The report lists the main players in this market as including: AB SKF, Continental, Cooper-Standard, Dana, Federal-Mogul, Freudenberg, Hutchinson, NOK, Sumitomo Riko, Toyoda Gosei and Trelleborg.
(Image source: Trelleborg)