The Rubber Molding Market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on the Rubber Molding Market highlights the future prediction and the growth alternatives that can be created.
Global Rubber Molding Market –Overview
The necessity for lightweight materials is projected to encourage the rubber molding market in 2020. The automotive technologies and services industry reports are produced by Market Research Future, which highlights market options for expansion. A CAGR of about 5.3% is estimated to motivate the market in the forecast period.
The rate of technological progress is predicted to spur the rubber molding market considerably in the forecast period. Furthermore, the implementation of EPDM material in automotive uses is predicted to reinforce the long term assessment of the rubber molding market share in the forecast period.
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The crucial players in the rubber molding market report are Freudenberg and Co. Kg, DANA Holding Corporation, Toyoda Gosei Co., Ltd., Federal-Mogul Corporation, Hutchinson Sa, Cooper-Standard Holdings Inc., Continental AG, Sumitomo Riko Co., Ltd., AB SKF, Trelleborg AB, and NOK Corporation.
Apr 2020 Nanofabrica, an Israeli startup, has set up its micro additive manufacturing equipment to 3D print micro molds. Nanofabrica’s Terra 250 AM method is an “ultra-high” resolution DLP machine that depends on semiconductor lithography to print layers as thin as 1 micron. The company, also lately raised USD 4 million in a financing round headed by Microsoft’s M12 venture fund, was proficient at injecting polyethylene, polypropylene, and ABS into micro molds 3D printed with the Terra 250 AM system.
The segmental study of the rubber molding market is carried out on the basis of component, type, material, vehicle type, and region. Based on the components, the rubber molding market is segmented into hoses, diaphragm, bellows, gaskets, seals, and weather-strips. On the basis of types, the rubber molding market is segmented into compression molding, transfer molding, liquid injection molding, and others. Based on the Material, the rubber molding market is segmented into natural rubber (NR), ethylene propylene diene terpolymer (EPDM), styrene-butadiene rubber (SBR), and others. Based on the vehicle type, the rubber molding market is divided into passenger vehicles and commercial vehicles. On the basis of region, the rubber molding market is segmented into the APAC, Europe, North America, and the rest of the global region.
Detailed Regional Analysis
The regional investigation of the rubber molding market is carried out on the basis of the APAC, Europe, North America, and the rest of the global region. As per the study, the rubber molding market in the Asia-Pacific is anticipated to govern the rubber molding market in the forecast period and is trailed by the European region. The presence of countries like China and India in the region has, in recent times, seen the boost in demand for automobiles. The expenditure potential of the population in the APAC is increasing, and this is estimated to benefit the rubber molding market in the region. The efficient and infrastructural augmentation in the Asia Pacific region has raised the growth potential of the automobile market, therefore, motivating the global market of rubber molding. COVID-19 Impact
The constraints of growth are expected to be significant and considerable support will be needed to transform the market effectively. The instability in the forces of demand and supply is estimated to create a beneficial impact on the overall global market in the forecast period. The restoration and everyday operations are estimated to take some time, which will lead to intensive development of backlog in delivery. The financial assistance provided by the government around the world and trade bodies is estimated to salvage the situation in the coming years. The downturn effects visible in the market are estimated to stay a little longer due to the scale of impact on the global market. The need for careful analysis of the market trends and demand projections is estimated to lead to formidable development in the market.
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