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Rubber Conveyor Belt Market Revenue to Cross USD 4.39 Bn by 2027:
Rubber Conveyor Belt Market By Material (Steel Reinforced, Textile Reinforced, Solid Woven Belts), Application (Light Weight, Medium Weight, Heavy Weight), End-use (Mining, Cement Manufacturing, Power Generation, Recycling, Metal Processing), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027", by Global Market Insights Inc., the market valuation of rubber conveyor belts will cross $4.39 billion by 2027. Rising infrastructure development activities, a positive outlook of the mining sector, and technology advancements in rubber conveyor belting solutions will positively impact the market growth during the forecast timeframe.
Rapid industrialization in emerging economies along with a positive outlook of the mining sector in North America and Latin America will drive the demand for rubber conveyor solutions. The growing metal processing sector along with the development of advanced rubber technologies that minimizes power consumption in conveyor applications will further support product penetration. Rubber belts offer excellent rip, impact, and tear resistance in several applications including rock mining and recycling.
The solid woven belts segment accounted for USD 28.60 million in 2020. The material segment includes leather, fiberglass, etc. The demand for rubber conveyor solutions made from such materials is limited owing to low dimensional stability, low elongation, and poor flex life; however, these solutions are suitable for high-temperature applications. With the availability of various types of materials that provide exceptional dimensional stability and strength to the belt for a wide range of applications, the demand for these types of materials is poised to remain less compared to steel-reinforced and textile-reinforced belts.
The heavy-weight application segment in the rubber conveyor belt market is predicted to reach around USD 1.9 billion by 2027. This type of belt is mainly steel-reinforced or textile-reinforced and primarily used in mining, recycling, metal processing, power generation and others. Commercialization and allocation of lands for mining in emerging economies along with supporting norms for mining in Latin America to attract FDI in the mining sector will further fuel the segment growth.
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