Rubber Testing Equipment Market – Industry Analysis and Forecast (2023-2029)

Rubber Testing Equipment Market size was valued at US$ 13.61 Bn. in 2022, and the total revenue is expected to grow by 4.8% from 2023 to 2029, reaching nearly US$ 18.90 Bn.
Rubber Testing Equipment Market Overview:
With the advancements in technology in industries worldwide, consumers expect high-quality products from manufacturers. Rubber is used in a variety of industrial applications. Rubber and rubber products are used in almost every industry, and the rubber products industry is a significant resource-based industry sector. Globally, the rubber industry has had stable and robust expansion.

The Rubber testing assesses rubber, polymer, and elastomer materials' processing and final qualities. Rubber is utilized in goods that must endure deformation and preserve their original shape in the automotive, industrial, consumer, and construction industries. Rubber is used in a wide range of products, from sturdy tires to bouncy kickballs, because of its unique material qualities; thus, the rubber testing equipment market is expected to grow steadily during the projection period.

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The rise of Automobile Industry and Tire Testing

The rapid urbanization, increase in population, and per capita income has risen the demand for automobiles in the past decade. With technical advancements, the features provided by the major market players have become sophisticated, given the competition in the automobile industry. The main focus has been the safety and security of passengers; thus, testing every component of the vehicle has almost become mandatory. The safety regulation laws among developed countries are very stringent; therefore, manufacturers heavily invest in research and development to comply with these standards and increase efficiency. In 2022, the global automotive market value stood at 2.7 trillion USD, with approximately 71 million units sold worldwide.

Steel, polyester, rayon, and other materials are utilized to manufacture sidewalls and tread patterns of tires. Furthermore, a range of rubber compounds are employed to generate various heat ratings, speed ratings, and load restrictions; since so many materials are involved in the manufacturing of tires, testing becomes an essential component of vehicle manufacturing. The inspection process ensures that all tires from production are free of damage or flaws, ensuring product reliability and durability according to quality control standards; hence automobile industry is the primary driver for rubber testing equipment during the projection period.

Development of the construction industry

With an increase in population, governments around the world are supporting infrastructural development to meet the rising demand. For instance, in 2022, the Indian Parliament passed a bill to formulate National Bank for financing infrastructure and development (NaBFID) to fund infrastructure projects, allocating 29.88 billion USD for development.

Almost every product and material used in the construction industry will be subjected to tension, compression, and cold testing; thus, every component in a construction project must be durable enough to be safe and appropriate for its intended use. Several types of testing of rubber is done in the construction industry; rubber testing labs use tension testing to determine how the material will behave under tension and the method of failure. The static and dynamic compressive characteristics of rubber materials are essential in the construction industry. Like other physical examinations, Compression tests are frequently conducted following various conditionings, such as hot air aging and fluid aging; this exponential rise in the construction industry is expected to boost the global market.

Market Restraints

The high initial cost of the market can hinder the growth of the global market, especially for small and medium scale industries. The major market players hold a significant share in the market; hence it is difficult for a new entrant to enter the market.
Rubber Testing Equipment Market Segment Analysis:
By Type of Testing, the global Rubber Testing Equipment market is segmented into Density Testing, Viscosity Testing, Hardness Testing, Flex Testing, and Others. The density test is one of the most extensively utilized tests in the rubber industry. It can be used to examine batch uniformity and verify that production was done with the appropriate constituent levels. The 'Durometer hardness' refers to the method of measuring shore hardness with an instrument known as a Durometer. The penetration of the Durometer indenter foot into the substance determines the hardness value. Because the indentation reading of rubbers and plastics can fluctuate over time due to their resilience, the indentation time is occasionally stated alongside the hardness value; Density Testing is expected to grow at a significant rate during the projection period.



By Product Type, the Rubber Testing Equipment Market is segmented into Rubber Process Analyzer, Moving Die Rheometer, Mooney Viscometer, and Others. A moving Die rheometer is used in characterizing rubber curing for both quality control and research and development. Mooney viscometers are the foundation for ensuring stable and consistent manufacturing processes by evaluating the viscous flow of raw materials such as polymers and intermediates.

By End-User, the Rubber Testing Equipment Market is divided into Tires, General Rubber Goods, Industrial Rubber Products, General Polymer, and compounds. Durability and endurance, force and moment, indoor tread wear, accelerated aging, government regulation testing, and failure analysis are all aspects of tire testing.

Growth in the number of vehicles with off-the-road tires, such as OTR, heavy truck tires, light truck tires, and passenger car tires, has fueled the global rubber testing equipment market. New tire testing procedures, such as endurance and severe run-out testing, are being developed during the projection period.
Regional Insights:
The report contains an in-depth analysis of the Global Rubber Equipment Market by geographical region across North America, Asia-Pacific, South America, the Middle East, and Africa. The rapid rise in population in Asia-Pacific has caused an exponential increase in demand for Rubber Testing Equipment due to the presence of countries like India and China. According to the number of units sold, China is the highest producer of automobiles globally, holding 28 percent market share. Asia-Pacific is expected to dominate the market with a 45 percent Global market Share.

Northern America is one of the largest markets for industrial rubber in the entire world owing to industrialization and development. The United States is the second-largest manufacturer of automobiles hence driving the demand for rubber tires. The market is projected to grow significantly during the projection period. Europe is considered to be a strong market for Rubber Testing Equipment due to stringent safety rules in the manufacturing as well as the automobile industry. As a result, this area is expected to have strong growth in the worldwide market.

With growing developments in the Middle East and Africa, the Rubber Testing Equipment market is projected to grow steadily.

The objective of the report is to present a comprehensive analysis of the Rubber Testing Equipment Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear, futuristic view of the industry to the decision-makers.

The report also helps understand the Rubber Testing Equipment Market dynamics and structure by analyzing the market segments and projecting the Rubber Testing Equipment Market size. Explicit representation of competitive analysis of key players by-product, Price, financial position, product portfolio, growth strategies, and regional presence in the Rubber Testing Equipment Market make the report investor's guide.
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Global Rubber Testing Equipment Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 13.61  Bn.


Forecast Period 2023 to 2029 CAGR:
4.8%
Market Size in 2029:
US $ 18.90 Bn.


 Segments Covered:
by Type of Testing
Density Testing
Viscosity Testing
Hardness Testing
Flex testing
Other Types of Testing


by Product Type
Rubber Process Analyzer
Moving Die Rheometer
Mooney Viscometer
Others


by End-User
Tire
General Rubber Goods
Industrial Rubber Products
General Polymer
Compound



By Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Rubber Testing Equipment Market Key Players
1. Alpha Technologies
2. TA Instruments
3. Qualitest
4. Elektron Technology
5. BUZULUK
6. MonTech Werkstoffprüfmaschinen GmbH
7. Prescott Instruments
8. Gotech Testing
9. Ektron Tek
10. U-CAN DYNATEX INC
11. Goettfert Inc
12. Norka Instruments
13. Gibitre Instruments
14. Elektron Technology
15. Presto Stantest

Frequently Asked Questions (FAQ)

1. What was the market size of the Rubber Testing Equipment Market in 2022?
Ans The market size of the Rubber Testing Equipment Market in 2022, was valued at the US 13.61 Bn.

2. Which region is expected to show a significant share in this industry?
Ans Asia-Pacific region is projected to increase and acquire a significant share in the forecasting period.

3. What is the CAGR of the Rubber Testing Equipment Market in the forecast period (2023-29)?
Ans Rubber Testing Equipment Market is expected to grow at a CAGR of 4.8 percent during the forecasting period.

4. Who are the key players involved in manufacturing Rubber Testing Equipment Market equipment?
Ans Goettfert Inc, Norka Instruments, Gibitre Instruments, Elektron Technology are the key players involved.