Press release
Global Rubber Molding for Automotive Components & Sub-Components Market Set for Rapid Growth And Trend, by 2025
The process of rubber molding involves shaping rubber material into functional products in the automotive ancillary components industry. Products that are made through rubber molding are enclosed in a mold cavity instead of a die which can be made into complex as well as required shapes. Some of the areas where rubber molded components are used in automotive are brakes, transmissions, steering, engines, clutch assemblies, air conditioning systems, batteries, electric motors, solenoid valves.
The growth of the rubber molded component in any market is directly depends on the automotive production as well as replacement market. The pivotal factor responsible for rising demand for rubber molded component has been the increasing preference toward more economical and lightweight products with better fuel efficiency.
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Rubber Molding for Automotive Components & Sub-Components Market: Market Dynamics
The automotive rubber molding components market is expected to augment by increase in vehicle production, increase in use of lightweight materials in automobiles and the increasingly stringent safety regulations, emission, and fuel economy norms. Stringent regulations regarding automotive emissions also compelling automotive vehicle manufacturers to produce fuel efficient vehicles, which in turn increasing the growth of the lightweight materials such as the rubber molding components. Companies are using rubber components in place of conventional metal and plastic structures to reduce the weight of the vehicle significantly to increase the fuel efficiency.
The demand of the auto ancillary sector has been derived from original equipment manufacturers (OEM) as well as the replacement market. The profit margins involved in the replacement market are higher than the OEM market. The production volume for passenger and LCV in the Asia Pacific region is very high in comparison to other regions, which in turn augment the demand of the rubber molding market. North America is expected to be another prominent automotive rubber molding component market during the forecast period owing to the large customer base of vehicles in this region. This has resulted in increased production activities by local automotive OEMs. Which, in turn, boosts the growth of the rubber molding component market. In Europe, Germany is the major producer of automotive components consisting of small and medium-sized companies in this sector.
One of the greatest challenges facing auto parts manufacturers is the complying varied environment regulations and policies on regional front. Volatile foreign exchange currency rates with respect to import and export duties on automotive ancillary components can affect the goods trade volume across the globe as well.
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Rubber Molding for Automotive Components & Sub-Components Market: Market Participants
Examples of some of the key market participants in the global rubber molding market for automotive components and sub-components are Continental AG, Hutchinson SaToyoda Gosei Co., Ltd., Sumitomo Riko Co., Ltd., Freudenberg and Co. Kg, Trelleborg AB, NOK Corporation, DANA Holding Corporation, Federal-Mogul Corporation, Cooper-Standard Holdings Inc., and AB SKF, among several others.
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