Automotive Rubber-Molded Components Market

The automotive rubber-molded component market is anticipated to register a CAGR of about 6.38%, during the forecast period (2019 – 2024).

• Innovation in the automobile and automobile components manufacturing industry is set to revolutionize the automobile rubber-molded component industry around the world. The increase in the production of cars around the world has had a very positive impact on the sellers of the automotive rubber-molded components.
• 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, 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.
• Growing automotive emissions have resulted in putting pressure on the automakers to produce fuel-efficient vehicles. These stringent standards set by the regulatory authorities are expected to significantly drive the market for lightweight materials, like rubber-molded components, in the automotive sector.

Scope of the Report

The automotive rubber-molded component market is segmented by material type, component type, vehicle type, and geography.

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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 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.

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