Rubber Conveyor Belts Market Share

As per Market Research Future Analysis, the Rubber Conveyor Belts market is projected to grow from USD 3700.22 million in 2021 to USD 5745.98 million by 2032, with a CAGR of 4.49% during the forecast period (2023–2032). The market is driven by investments in construction, food and beverage, and mining, alongside the increasing use of rubber additives. However, environmental concerns and high initial investments hinder growth. Opportunities arise from rising recycling efforts, demand for eco-friendly belts, and economic growth in emerging markets. Technological advancements, such as green and smart conveyor systems, further contribute to market expansion. Major players include Bando Chemical Industries, Intralox, Fenner Dunlop, and Bridgestone.

Bando Chemical Industries, Intralox, Fenner Dunlop, Volta Belting Technology, Fives, Bridgestone, ContiTech AG, Goodyear Rubber Products, Qingdao Rubber Conveyor Belt Co., The Yokohama Rubber Co.

March 2024: Through its wholly-owned subsidiary in Canada, Viacore Solutions Inc. (hereinafter referred to as "Viacore"), Marubeni has successfully completed the acquisition of all of the shares of Alternative Belting Enterprises Ltd. and Alternative Belting (Van Island) Enterprises Ltd. (hereinafter referred to as "Alternative Group"). Viacore and the Alternative Group are both active in the conveyor belt distribution business, and this transaction takes place in the province of British Columbia, which is located in Canada. By taking this action, Marubeni is demonstrating the growth of its footprint in the market for conveyor belt distribution and maintenance services in Canada.

As a consequence of this deal, Viacore is in a position to strengthen its operational footing in Western Canada and to obtain a wide choice of locations across the country, ranging from the West Coast to the East Coast. Through the acquisition of competing businesses in North America, the Viacore Group, in cooperation with Viacore Solutions, LLC, which has its headquarters in the United States, has been able to increase its market share. As a consequence of this, the Viacore Group has emerged as one of the most prosperous operators in the region for this particular line of work.

Following the completion of this deal, the purchasing and sales skills of the Viacore Group have been further enhanced. This, in turn, contributes to the reliable functioning of conveyor belt systems that are utilized by a number of industries, including mining and forestry.

Continuing to enhance its business foundation in the North American region and boosting its competitive edge in order to achieve additional market share expansion, Marubeni will continue to do so through its cooperation with the Viacore Group. Additionally, Marubeni is aiming toward growing its company to other regions in addition to Northern America. This is in addition to the prior mentioned point.

Bando Chemical Industries, Ltd (Japan):

October 2023: Bando Chemical Industries launched a new high-performance, heat-resistant conveyor belt tailored for steel mill applications. This product is designed to withstand elevated temperatures, enhancing operational efficiency in demanding environments.

Intralox (US):

September 2023: Intralox introduced an innovative modular belt technology aimed at the food processing industry. This new design emphasizes improved hygiene and cleanability, addressing critical concerns in food safety and operational efficiency.

Fenner Dunlop (US):

July 2023: Fenner Dunlop expanded its market presence in Asia by acquiring a conveyor belt manufacturing company in China. This strategic move aims to strengthen their position and better serve the growing demand in the region.

Fives (France):

September 2023: Fives unveiled a new conveyor belt cleaning system that significantly reduces water usage. This development aligns with global sustainability trends and offers cost savings for industries reliant on conveyor systems.