Rubber Conveyor Belt Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market can be segmented by Type (Heat-Resistant, Oil-Resistant, Fire-Resistant and Chemical-Resistant), End-user Industry (Logistics, Mining, Manufacturing, Metal Processing) and Geography.

Market Snapshot

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Study Period: 2019- 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: 4.2 %

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Market Overview

Global Rubber Conveyor Belt Market is expected to register a CAGR of 4.02% over the forecast period (2021 - 2026). The market is witnessing major acquisitions and mergers, which are shaping the market landscape.

  • The main driving factor for the rise of conveyor belt usage is the growth of e-commerce industry. Warehouses are proliferating, due to which there is an increasing need for material handling and reducing downtime. US-based SpanTech LLC offers e-commerce conveyors for the automation of e-commerce fulfillment processes.
  • Conveyor belts are widely used in a variety of sectors because of their high adaptability, lightweight, and cost-effectiveness. One of the major factors driving the worldwide conveyor belt market is rising demand from the power, mining, and industrial industries.
  • Companies in all industries, including manufacturing, mining, electric vehicles, food processing, warehouses, and other material handling facilities, are continuously seeking ways to improve their processes, which has boosted the demand for industrial facility automation. Conveyor belt systems will benefit greatly from the widespread adoption of automation in the workplace.
  • However, the market is largely affected by fluctuations in raw material prices, which act as a challenge for market growth. An increase or decrease in rubber prices is dependant mainly on market conditions such as global supply/demand position, crude oil price movements, and the consequent impact on prices of synthetic substitutes.
  • The conveyor belt market is witnessing a significant slowdown due to the impact of COVID-19 on the industries. The imposed lockdown and trade restrictions caused the factories and industries to shut down their operations. Moreover, due to the uncertainty, shortage of manpower, and material caused due to the supply chain restrictions, new facilities were also not built during the period, therefore, directly hampering the demand for conveyor belt systems. However, the rise in e-commerce during the period partially improved the conveyor belt demand.

Scope of the Report

A conveyor belt is used to transport goods from one location to another. They're typically utilised for short-distance movement within a facility, as well as connecting assembly lines to final inspection and packing lines. The material to be conveyed is placed on the belt and transported horizontally or along an inclined slope to its destination. Two or more pulleys are used to rotate the belt in continuous circles in this method. Conveyor belts are widely used in a variety of sectors because to their high adaptability, light weight, and cost-effectiveness. One of the major factors driving the worldwide conveyor belt market is rising demand from the power, mining, and industrial industries.

Rubber conveyor belts can be classified as heat-resistant, oil-resistant, fire-resistant and chemical resistant. They are increasingly being utilized by various end-user industries such as Logistics, Mining, Manufacturing and Metal Processing at various stages.

By Type
Heat-Resistant
Oil-Resistant
Fire-Resistant
Chemical-Resistant
By End-user Industry
Logistics
Mining
Manufacturing
Metal Processing
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Key Market Trends

Mining Industry to Dominate the Market

  • The mining industry heavily relies on conveyor belts to transport materials taken up for processing. In September 2020, Coal India floated a 15,700 Crore tender for its 18 sites. This investment will go towards the conveyor belt system to replace road movement between mines and wagons. Investment in conveyor belts to transport coal directly from mines is a cheaper and cleaner way without using trucks. It will also cut down theft as well as diversion of coal and help maintain quality.
  • The mining industry in Latin America, particularly in Brazil and Chile, is anticipated to see a rush of new investments. With about half a billion metric tonnes produced in 2020, the country was the world's second-largest iron ore mine producer. The Latin American region has followed the current trends as well. Chile and Argentina are the region's leading lithium producers, with over 60% of global reserves. Because mining necessitates the handling of larger amounts of materials, the conveyor system is the most efficient and cost-effective solution for long distances.
  • With the BeltGauge solution, Fenner Dunlop has added mobile functionality to its suite of iBelt conveyor technology, providing a new approach for customers from all commodities and conveyor industry applications to properly monitor conveyor health. Since its launch in September 2020, the fixed BeltGauge solution has been installed at a number of locations.
  • Germany-based ContiTech's conveyor belts are extensively being used in Jamaica for the transport of bauxite, generated 1,300 kW per hour, which can be fed back into the grid. They are also being used by Botswana’s largest diamond producer.
  • For usage in subterranean mines, Dunlop conveyor belting manufactured fire-resistant conveyor belts. These belts have been authorized and accredited according to national and international guidelines.
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Asia-Pacific to Witness the Highest Growth

  • The increasing demand for conveyor belts in this region is due to the rise in e-commerce operations, especially in China and India, to handle a large volume of goods.
  • The market's expansion in this area is mostly due to technical advancements and the increased usage of automation technologies across a variety of end-user industries. Other significant drivers driving the conveyor monitoring demand in the region include rapid urbanization, complementary technical improvements, favorable government regulations, and robust FDI inflows.
  • A major boost to the construction sector has resulted in rapid development in Asia Pacific industrial manufacturing and mining activities, as well as increased expenditure on urban infrastructure in the region. Conveyor belt systems are in high demand in the region as a result of this.
  • Conveyor monitoring solutions are being deployed in droves in the APAC region to help increase operational efficiency. The biggest mining countries in the region, China and Australia, have been implementing real-time conveyor monitoring systems to boost operational efficiency and productivity.
  • Australia is likely to hold a high potential for the market growth owing to the presence of vast reserves of oil and minerals. These have also helped in the establishment of a robust mining sector in the country. Additionally, favorable government policies, coupled with the adoption of the latest technologies in condition monitoring, are expected to augment the market growth in the country over the forecast period. The growing demand for predictive maintenance techniques and tools, along with the rising availability of remote conveyor monitoring and fault diagnosis systems, has resulted in fierce competition among manufacturers.
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Competitive Landscape

The market is fragmented owing to an increasing number of end-user industries deploying conveyor belts for ease in processing and mergers by companies to bring innovation in this domain.

  • Continental, a technology business, has developed a service solution for monitoring conveyor belt systems that allow for early detection of weak places along with a belt conveyor system before damage occurs, resulting in unplanned and costly downtimes. The innovative technique combines visual and auditory assessment in one device.
  • Conveyor technology is increasingly using sophisticated materials, according to designers. Food manufacturers in the United States, for example, can benefit from "detector" conveyors that employ food-grade belts to stay in line with FDA regulations. Bacteria-resistant and capable of detecting microscopic pieces, these belts are suitable for this purpose.
  • RFID (radio-frequency identification) technology is being used in a variety of industries. From the ordering stage until delivery, the ability to track products and processes in real-time may greatly improve logistics operations, increase customer experience, and improve supply chains. RFID technology is being integrated into self-contained conveyor systems that make control decisions automatically and allow numerous operations spanning multiple items to run at the same time.

Recent Developments

  • July 2021 - To reverse the grade of its conveyors, a coal mine in Queensland's Central Bowen Basin needed to modify its existing machinery. All primary gate conveyors would travel downhill instead of uphill from tail to head. Fenner Dunlop designed, supplied, and commissioned a downhill conveyor system that generates its own energy in response to a hard engineering issue.
  • August 2020 - Fenner Dunlop has announced the construction of a USD 23.5 million factory in Kwinana, Western Australia. Fenner Dunlop has collaborated with Siempelkamp to commission the third line, which features the world's finest multi-piston press and related equipment, extending their long-standing relationship in the production of high-quality conveyor belts. The addition of the additional press line will boost the plant's capacity by 50%. Work on the site is expected to begin in March 2021, with completion in December 2021. In January 2022, the new press line will begin full production.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. EXECUTIVE SUMMARY

  3. 3. MARKET DYNAMICS

    1. 3.1 Market Overview

    2. 3.2 Introduction to Market Drivers and Restraints

    3. 3.3 Market Drivers

      1. 3.3.1 Growth of E-Commerce Industry.

      2. 3.3.2 Increase in Productivity at Manufacturing Facilities.

    4. 3.4 Market Restraints

      1. 3.4.1 Fluctuations in Raw Material Prices

    5. 3.5 Value Chain Analysis

    6. 3.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 3.6.1 Threat of New Entrants

      2. 3.6.2 Bargaining Power of Buyers/Consumers

      3. 3.6.3 Bargaining Power of Suppliers

      4. 3.6.4 Threat of Substitute Products

      5. 3.6.5 Intensity of Competitive Rivalry

  4. 4. MARKET SEGMENTATION

    1. 4.1 By Type

      1. 4.1.1 Heat-Resistant

      2. 4.1.2 Oil-Resistant

      3. 4.1.3 Fire-Resistant

      4. 4.1.4 Chemical-Resistant

    2. 4.2 By End-user Industry

      1. 4.2.1 Logistics

      2. 4.2.2 Mining

      3. 4.2.3 Manufacturing

      4. 4.2.4 Metal Processing

    3. 4.3 Geography

      1. 4.3.1 North America

      2. 4.3.2 Europe

      3. 4.3.3 Asia-Pacific

      4. 4.3.4 Latin America

      5. 4.3.5 Middle East & Africa

  5. 5. COMPETITIVE LANDSCAPE

    1. 5.1 Company Profiles

      1. 5.1.1 Oxford Rubbers Pvt. Ltd.

      2. 5.1.2 Muller Beltex B.V.

      3. 5.1.3 T-Rex Rubber International B.V.

      4. 5.1.4 The Yokohama Rubber Co. Ltd.

      5. 5.1.5 Bando Chemical Industries Ltd.

      6. 5.1.6 Bridgestone Corporation

      7. 5.1.7 Oriental Rubber Industries Pvt. Ltd.

      8. 5.1.8 Fenner Grouo Holdings Ltd.

      9. 5.1.9 Mitsuboshi Belting Ltd/JP

      10. 5.1.10 Wuxi Boton Belt Co. Ltd.

    2. *List Not Exhaustive
  6. 6. INVESTMENT ANALYSIS

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Rubber Conveyor Belt Market market is studied from 2019 - 2026.

The Rubber Conveyor Belt Market is growing at a CAGR of 4.2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

Oxford Rubbers Pvt. Ltd., Muller Beltex B.V., T-Rex Rubber International B.V., The Yokohama Rubber Co. Ltd., Bando Chemical Industries Ltd. are the major companies operating in Rubber Conveyor Belt Market.

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