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The global market size of rubber and plastic mills will exceed 3 trillion in 2020

A recent report from a business research company's waste tire grinding mill in the global market briefing on rubber products manufacturing in 2017 said: The growth rate of rubber products such as rubber tires, retreading, hoses, belts, and sealants in the global market is accelerating. As of 2016, it has grown at a rate of 3.5% per year. In 2016, the global rubber market was valued at US$411 billion (approximately RMB 272.7 billion). The market is now growing at a rate of more than 5% per year and will reach US$507 billion (approximately RMB) by the end of 2020. RMB 3,358.6 billion).

Tires are the world's largest rubber products for sale, accounting for nearly three-fifths of the market. The total value in 2016 was approximately US$240 billion (approximately RMB 1.5899 billion).

Asia is the largest and fastest-growing region in the global rubber products market, accounting for 40% of the total in 2016. The current average annual growth rate is 5%. In Asia, China dominates, accounting for about 17% of the total global value. Although the Indian market is much smaller, accounting for only 6% of the total, the growth rate of the Indian market is higher than that of China, with an average annual growth rate of about 10%. The Asian market is also constantly changing. For example, in 2015, ChemChina acquired Pirelli, the purpose of which was to use Pirelli's technology to produce high-end tires for the Chinese market.

Bridgestone, Michelin, Goodyear, ChemChina, and Yokohama rubber market are the top five manufacturers, which together account for 20% of the global market.

At the same time, computer simulation and three-dimensional printing technology have had a significant impact on the rubber product manufacturing industry. For example, the software-assisted system provides 3D demonstrations during the production process and controls the production process. 3D printing technology allows manufacturers to customize car tires based on different hardness and elongation. Goodyear's eagle-360, a 3D printed spherical tire, can move freely in 360 degrees. Michelin, a global tire leader, has also launched a smart coral tire that can 3D print rubber mills and adapt to any road surface.

The global rubber products manufacturing market value continues to grow, which is a big plus for many rubber tire companies, and the future is bright. However, with the continuous enhancement of corporate strength and continuous advancement of technology, the future competition may become more intense.

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