Agricultural Food Grade Rubber Conveyor Belt Market

An agricultural & food grade rubber conveyor belt is a type of conveyor belt that transports agricultural and food products from one place to other. It is a solid band made from long-lasting substances on which several materials are conveyed. Two different types of rubbers are used for the manufacturing of rubber conveyor belts: natural rubber and synthetic rubber. Natural Rubber is basically obtained from the latex sap of trees, particularly those trees which belong to genera Ficus and genera Hevea. On the other hand, synthetic rubber is generally a crumbly, white, plastic mass which can be vulcanized and processed using the same technique as natural rubber.

The report covers ample information about market volume (‘000 meters), value (US$ Mn) projections and trends, market dynamics (drivers, restraints and opportunities), competition and recent developments concerning the global agricultural & food grade rubber conveyor belt market for the study period 2018–2028.

The global market is projected to reach a little over US$ 4,467.0 Mn by the end of the forecast period, registering a growth rate of 4.9%. The strong outlook for the food industry and increasing government initiatives pertaining to local food production are expected to provide a robust foundation for the growth of the global agricultural & food grade rubber conveyor belt market.

Synthetic Rubber Segment to Dominate the Global Agricultural & Food Grade Rubber Conveyor Belt Market throughout the Forecast Period

The synthetic rubber segment is expected to dominate the global market in terms of value during the entire forecast period. The segment is projected to grow at a strong CAGR of 4.7% over the forecast period. The synthetic rubber segment is expected to register 1.02X the growth registered by the natural rubber segment during the study period.

The synthetic rubber segment is anticipated to hold dominant value share in the agricultural & food grade rubber conveyor belt market owing to increasing demand from end-use industries. Moreover, synthetic rubber offers higher resistance to abrasion, wear and water as compared to natural rubber. Additionally, synthetic rubber is a low-cost alternative to natural rubber.

Increasing Adoption of Automated Production Lines across Various Industries is Estimated to Boost the Demand for Agricultural & Food Grade Rubber Conveyor Belts

Rising consumer inclination towards packaged food and beverages products is influencing manufacturers to increase their production efficiency by adopting automation in their manufacturing plants. Beverage packaging, dairy product packaging, ready to eat and ready to mix food packaging are some of the applications identified as key growing segments within food grade conveyor belt market. In production plants with automated assembly lines, standard conveyor belt systems are much more efficient in transporting goods.

Thus, increasing adoption of automated production lines across various industries in developed and emerging economies will surge the demand for agricultural & food grade rubber conveyor belts over the forecast period.

Standard Black Rubber Conveyor & Elevator Belt Segment is Slated to Exhibit Above Average Growth  

Amongst all product types, the standard black rubber conveyor & elevator belt segment is anticipated to hold a dominant share throughout the forecast period. The segment is estimated to register 1.08X the growth registered by the green food grade rubber conveyor & elevator belt segment. Increasing food processing activities across developed and emerging economies are anticipated to create new growth opportunities for the manufacturers of agricultural & food grade rubber conveyor belts across the globe.

In terms of absolute $ opportunity, the standard black rubber conveyor & elevator belt segment is estimated to be responsible for more than 65.0% of the total absolute $ opportunity created by the global agricultural & food grade rubber conveyor belt market.

SEA & Pacific and China are Potential Markets for Agricultural & Food Grade Rubber Conveyor Belts

Increasing government initiatives pertaining to local food production and growing food processing activities in the region are expected to drive growth in demand for agricultural & food grade rubber conveyor belts. The agriculture industry still accounts for a major share of China’s GDP. In China, GDP from agriculture is around US$ 624.1 Bn. Thus, increasing food processing activities in the region will further surge the demand for agricultural & food grade rubber conveyor belt over the forecast period.

The Middle East & Africa (MEA) region is expected to register significant growth and will be followed by Latin America, Europe and North America, in terms of value. China and Middle East & Africa are estimated to gain traction over the forecast period in the global market owing to the anticipated increase in demand from material handling and food processing industries in respective regions.

Apart from SEA & Pacific and China, all other regions are expected to lose market value share by the end of the forecast period. Collectively, the SEA & Pacific and China are projected to register a CAGR of 11.5% by value, which is 2.4X more than the overall growth rate by value.

Agricultural & Food Grade Rubber Conveyor Belt Market – Competitive Landscape

The global agricultural & food grade rubber conveyor belt market is highly fragmented with the presence of several regional as well as global players across the globe. Globally, the top 14 players in the global agricultural & food grade rubber conveyor belt market collectively hold between 20% and 25% share of the overall market in terms of value.

In the recent past, the agricultural & food grade rubber conveyor belt market has witnessed considerable developments from the competition perspective. Acquisitions, collaborations and expansions are some of the strategies chosen by key players to sustain and expand in the global agricultural & food grade rubber conveyor belt market.

• In April 2017, Continental AG, a prominent manufacturer and supplier of automotive parts, inaugurated a new research and development (R&D) center in Silicon Valley, U.S.

• In 2016, Fenner PLC acquired Belle Banne Conveyor Services Pty Limited and Leading Edge Conveyor Services Pty Limited

• In February 2016, Fenner PLC introduced a new conveyor belts carcass and cover combination ‘Patriot’ suitable for lightweight conveyor belts applications

• In 2013, ContiTech Conveyor Belt Group, a part of Continental AG, acquired Metso's industrial conveyor belt operations based in Helsinki, Finland

Some of the key competitors covered in this report include Continental AG, Dorner Mfg. Corp., MAFDEL, REVEYRON SAS, Siban Peosa SA, Trelleborg Slovenija d.o.o, VIS GmbH, Fenner PLC, Volta Belting Technology Ltd., SIG S.p.A, Artego SA, Derco BV, Ammeraal Beltech Group and Cobra Group (part of REMA TIP TOP Group).

Key Questions Answered in the Report

• What shape is the agricultural & food grade rubber conveyor belt market expected to take in terms of volume and value during the study period?

• How has the agricultural & food grade rubber conveyor belt market evolved over the past four years?

• What are the competition developments and trends in the agricultural & food grade rubber conveyor belt market?

• What are the prevailing market dynamics in the agricultural & food grade rubber conveyor belt market?

• What are the key challenges, opportunities and improvement factors for market players in the global agricultural & food grade rubber conveyor belt market?

• What are the underlying macroeconomic and industry factors impacting the growth of the agricultural & food grade rubber conveyor belt market?

• How has the competition evolved in the agricultural & food grade rubber conveyor belt market over the past few years?

• What are the market positioning and key strategies of key manufacturers as per the market taxonomy in the global agricultural & food grade rubber conveyor belt market?