Automotive Rubber-Molded Components Market - Growth, Trends, and Forecast (2020 - 2025)

The Automotive Rubber-molded Component Market is segmented by Material Type (Ethylene Propylene Diene Monomer (EPDM), Natural Rubber (NR), Styrene-butadiene Rubber (SBR), and Other Material Types), Component Type (Seals, Gaskets, Hoses, Weather-strips, and Other Component Types), Vehicle Type (Passenger Cars and Commercial Vehicles) and Geography.

Market Snapshot

Study Period:

2020-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

6 %

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Market Overview

The automotive rubber-molded component market is anticipated to register a CAGR of about 6%, during the forecast period (2020 – 2025).

  • Innovation in the automobile and automobile components manufacturing industry is set to revolutionize the automobile rubber-molded component industry around the world. Another factor that drives the growth of this market is adoption of new and sophisticated ADAS and entertainment system. Manufacturers have to constantly adapt to new technologies because of high innovation arising due to new customer requirements. However, this practice leads to the development of new and efficient methods of raw material management, productivity and delivery time improvement. North American OEMs have reduced their aggregate cost of components in a car from 13,400 dollars to 10,500 dollars by achieving productivity gains of 2.4% per year.
  • The increase in the production of cars around the world slightly decreased in 2018 compared to 2017 impacting the automotive rubber-molded components market. Growth in demand for cleaner and efficient vehicles requires manufacturers to produce vehicles with lighter weights and thus this is a major driver of growth of this market. The government initiated FDIs have enabled Small and Medium Scale Enterprises to enter into automotive rubber molded components market.
  • Cost is a major competitive disadvantage. It is estimated that the share of components that generate revenue will fall from 55% to 40% in another 10 years due to the increasing cost of materials. Stringent government norms require manufacturers to spend an average USD 400 on emission-reducing components and USD 200 on new safety equipment (This includes setting up of new assembly stations and R&D investments.)
  • Owing to the increasing demand for fuel-efficient and less polluting vehicles, the market for lightweight automotive components of higher durability is on the rise. Further, chemical companies, such as Chem Trend, are introducing better release agents and molding process aids. Technological advancements have been the major trigger for this growth. Innovations, such as Ford’s eco-friendly rubber parts using soy oil(which is a 25% replacement of petroleum and it increases the stretchability of rubber by 2 times and reduces adverse impact on environment) and research labs trying to come up with better and durable rubber materials, like EPDM, are expected to drive the market studied over the forecast period.

Scope of the Report

The automotive rubber-molded component market covers the latest trends and technological development in the automotive rubber-molded component, demand of the material type, component type, vehicle type, geography and market share of major automotive rubber-molded component manufacturers across the world.

By Material Type
Ethylene Propylene Diene Monomer (EPDM)
Natural Rubber (NR)
Styrene-butadiene Rubber (SBR)
Other Material Types
By Component Type
Seals
Gaskets
Hoses
Weather-strips
Other Component Types
By Vehicle Type
Passenger Car
Commercial Vehicle
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
South America
Middle East & Africa

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Key Market Trends

Growing Technological Advancement in Rubber Material

Advances in release agents, nowadays, are making rubber and its components more attractive to auto manufacturers. For hundreds of years, rubber has been used in the automotive industry. Rubber-molded products, which were formerly extracted from natural materials, are now being made from inexpensive and common synthetic polymers, owing to many factors, including weight, environmental, expense, and longevity concerns. These rubber-molded components can be molded into all shapes, sizes, and colors, for different uses in the automotive industry.

Advancements in rubber-made auto components sturdy, sealable, and water- and chemical-resistant. It also has both, a good weight/volume ratio and performance/cost ratio. Rubber is inexpensive and can be molded into a wide range of parts and products. One of the major advantages of the parts made of rubber is that they can be disposable and recyclable, thus, benefiting the environment. Therefore, growth in the use of rubber is driving the market studied.

Ethylene propylene diene monomers (EPDM) accounted for most of the market share by raw material type, with natural rubber following closely. However, growing innovations in the durability and life of the EPDM-based compounds is expected to propel the market for EPDM in automotive applications over the coming five years. EPDM materials were proved fit for high-pressure conditions and boasted of impact resistance and stiffness. These technical advantages over other raw materials will encourage automakers to prefer EPDM-based molded components to synthetic or natural rubber.

Manufacturers maintain a wide range of products to cater to the ever-changing need of clients and also maintains the capabilities to mass produce any prototype required by their client. They are now resorting to consulting based supplying to improve the efficiency of and effectiveness of their products.

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Asia-Pacific - Leading the Market

The automotive rubber molded component market is dominated by Asia-Pacific, followed by Europe and North America, respectively. Cost of manufacturing of automotive rubber molded components is high in Europe and North America. In North America, suppliers are refraining from passing on the 50% increase in input cost (rise in cost of rubber components between 2001 to 2010 and it is further rising) to customers and absorbing themselves. This is leading to reduction in profits.

The Asia-Pacific region is the largest market for automotive rubber-molded components, both in terms of production and consumption. This can be attributed to India and China emerging as major the manufacture hubs of automotive components, sourcing to the western auto giants. Furthermore, government support for FDIs in these countries has encouraged small and medium scale regional players to enter the rubber molding market. BRICS (Brazil, Russia, India, China, South Africa) countries are witnessing a growth in automotive market which is an important factor for growth of Automotive rubber molded components. Brazil, Russia and South Africa exhibited the automotive vehicles production rise of 5.2%, 13.9% and 3.5% against the global decrease of 1.1%.

China has emerged as the leader in both Asia-Pacific and rubber-molded automotive components markets, globally. Growing economy and rising disposable incomes have resulted in greater demand for automotive in India and China, in turn, opening new opportunities for the dependent rubber-molding sector. North America, in the light of EPA regulations and CAFÉ standards, is expected to witness a higher CAGR over the forecast period.

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Competitive Landscape

The automotive rubber molded component market is fragmented and dominated by various players which include, Continental AG, DANA Holding Corporation, Hutchison SA, Trelleborg AB, Federal-Mogul Corporation, Freudenberg and Co. Kg, among others.

The companies are expanding their business by opening new plants. For instance - 

  • In March 2019, Hubner Manufacturing Corporation has invested USD 9.6 million to establish a new manufacturing facility in Dunlap, Tennessee.
  • In September 2018, Zeon Corporation (Zeon) announced that it will establish a wholly owned subsidiary for the production and sales of acrylic rubber in Thailand. The new plant will be Zeon’s third acrylic rubber plant after its Japanese and US plants. Demand for acrylic rubber is expected to increase in Asia.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Material Type

      1. 5.1.1 Ethylene Propylene Diene Monomer (EPDM)

      2. 5.1.2 Natural Rubber (NR)

      3. 5.1.3 Styrene-butadiene Rubber (SBR)

      4. 5.1.4 Other Material Types

    2. 5.2 By Component Type

      1. 5.2.1 Seals

      2. 5.2.2 Gaskets

      3. 5.2.3 Hoses

      4. 5.2.4 Weather-strips

      5. 5.2.5 Other Component Types

    3. 5.3 By Vehicle Type

      1. 5.3.1 Passenger Car

      2. 5.3.2 Commercial Vehicle

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Rest of Asia-Pacific

      4. 5.4.4 Rest of the World

        1. 5.4.4.1 South America

        2. 5.4.4.2 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 AB SKF

      2. 6.2.2 ALP Group

      3. 6.2.3 Bohra Rubber Pvt. Ltd

      4. 6.2.4 Continental AG

      5. 6.2.5 Cooper-Standard Automotive

      6. 6.2.6 DANA Holding Corporation

      7. 6.2.7 Federal-Mogul Corporation

      8. 6.2.8 Freudenberg and Co. Kg

      9. 6.2.9 Hebei Shinda Seal Group

      10. 6.2.10 Hutchinson SA

      11. 6.2.11 NOK Corporation

      12. 6.2.12 Steele Rubber Products

      13. 6.2.13 Sumitomo Riko Co. Ltd

      14. 6.2.14 Trelleborg AB

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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