San Francisco, CA -- (SBWIRE) -- 04/10/2019 -- Global Rubber Processing Equipment Market: Overview
Growing demand for rubber across the globe for multiple uses has fueled growth in the global rubber processing equipment market. Tire manufacturing has largely contributed in the growth of this market. This industry is growing due to the increasing developments taking in it such as introduction of functional rubber that comprises of novel and composite materials and is using environmental load reduction technologies.
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Opportunities, trends, and restraints are also steadily described in the global rubber processing equipment market report. With this information, key participants in this market will be able to take smarter decisions and implement their strategies accordingly. Information is derived through various organic and inorganic ways to create clear insights about rubber processing equipment.
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Some of the recent developments that helps in bolstering growth in the global rubber processing equipment market are:
EcoTech developed a rubber recycling process that produced high quality recycled material. Material produced could be used to make different variety of products. The company shredded tires into ultra-fine rubber powder, refined it, and then transforms it into rubber sheets. The company is using innovative ways to recycle rubber, and shortlisted for Circular Economy Award at the World Economic Forum.
A new product have been developed by researchers in Germany namely polyisoprene synthetic rubber. This rubber can achieve 30% – 50% less abrasion than natural rubber. The Fraunhofer Institutes for Applied Polymer Research IAP justified this development of this product. Natural rubber derived from trees is used, which demonstrates best abrasion characteristics. Thus, use of natural materials are likely to benefit growth in this market.
Other key players in the global rubber processing equipment market are making persistent efforts to provide advanced services to their customers. To name a few leading players in the market includes Buzuluk, Bosch Rexroth, Kobe Steel, GRM, and Wuxi Double Elephant. Other noticeable vendors are AMCL Machinery, Barwell, JRD Rubber & Plastic Technology, Harburg-Freudenberger, Bharaj Machineries, French, Hevea Engineering Works, Kelachandra Machines, L&T, Modern Machines, Anant Engineering Works, and Farrel Pomini.
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Global Rubber Processing Equipment Market: Trends and Opportunities
Substantial growth in the tire manufacturing industry led in developing global rubber processing equipment market. Moreover, reduced fuel prices and increasing use of advanced technologies and implementation of advance techniques in automobiles simultaneously led demand in the global rubber processing equipment market. Growing preference to own an automobile due to rapid economic growth has augmented demand in this market.
Another prevalent trend seen in the global rubber processing equipment market is the introduction of several technological developments that expanded growth in this market. Development of eco-friendly ways along with new techniques also benefited growth in this market.
Asia Pacific Dominates Global Rubber Processing Equipment Market Due to Increasing Production of Automobiles
With respect to geography, Asia Pacific has made strong grounds in the global rubber processing equipment market. This region generates highest revenue in the global rubber processing equipment market and lead by holding dominant share. Significant rise in the automation industry along with increasing demand for advanced automobiles has contributed Asia Pacific to strengthen its position. China, India, and Japan are the major regions where the maximum production of automobiles takes place. These regions support the growth of Asia Pacific, where the world's maximum production of lightweight automobile takes place. Significant rise in production of automobiles is expected to expand growth in the global rubber processing equipment market in the near future.
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