Market Share of Automotive Belts and Hoses Industry
The automotive belts and hoses market is highly fragmented, due to the presence of many regional players. However, some of the major players, like Sumitomo Riko Co. Ltd, ACDelco (General Motors), Goodyear Tire & Rubber Co., Toyoda Gosei Co. Ltd, and Continental AG, have captured significant shares in the market.
With the growing trend of lightweight and fuel-efficient vehicles, companies have started investing in the production of more advanced materials for belts and hoses, in order to meet the increasing standards of the automotive industry. For instance,
- In July 2022 Origin Material, inc has partnered with Intertex World Resources which is the leading distributor of synthetic rubber, processed oils, plastics, etc. The partnership further aims to hoses, belts, rubber seals, and all other mechanical rubber goods markets for automotive aftermarkets and OEMs.
- In March 2020, Teijin Frontier, Kita Ward, Osaka) announced that it has developed an eco-friendly adhesive that doesn't contain resorcinol-formaldehyde (RF) for rubber reinforcement fibers. The company aims to start the pilot production of rubber reinforcement fibers that use this new adhesive in 2020, and to achieve an annual production of 200,000 tons including the amount of licensed production in 2028. As for commonly used RF latex (RFL) adhesives, RF is reticulated by chemical reaction and is combined with latex, an adhesive element, to deliver adhesive performance.
Automotive Belts and Hoses Market Leaders
Sumitomo Riko Co. Ltd
ACDelco (General Motors)
Toyoda Gosei Co. Ltd
Continental AG
Goodyear Tire & Rubber Co.
*Disclaimer: Major Players sorted in no particular order
