The rubber conveyor belt market is projected to register a substantial valuation by 2027 owing to proliferating steel & cement industry in key regions across the globe.

A rubber conveyor belt is a moving belt that transports packages and materials from one place to another. It is widely used by mining, production, and shipping companies to promote efficiency and reduce labor costs. The booming mining industry has propelled product uptake in recent years.

Notably, industry players have been employing lucrative strategies to tap into emerging trends in the market, which has been favorable for the overall business landscape. For instance, in December 2020, Semperit AG Holding, a global provider of specialized rubber products for industrial and medical use, announced the acquisition of M&R Dichtungstechnik GmbH, a German manufacturer of profiles for facade construction. The deal enabled Semperit to expand its industrial rubber business to increase its consumer proximity.

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The rubber conveyor belt market has been bifurcated based on end-use, material, application, and region. With respect to material, the market has further been divided into solid woven belt, steel reinforced conveyor belt, and textile reinforced conveyor belt.

The solid woven belt sub-segment is set to progress at a CAGR of approximately 3% over the assessment period. Extensive use of solid woven belts across the mining and milling industries to handle bulk materials, including raw ore and aggregates, is estimated to boost segmental growth over the review period. Textile manufacturers commonly use woven conveyor belts for bulk package handling, which is also likely to foster product outlook.

On the basis of application, the rubber conveyor belt market has been categorized into heavy weight, medium weight, and light weight. The medium weight sub-segment is anticipated to account for a significant share of around 50% in the industry by 2027. The sales potential of the medium weight sub-segment is massive and is expected to increase significantly owing to the large proportion of light & medium-weighted goods manufactured in the Asia Pacific region. As a result, increasing adoption of medium-sized rubber conveyor belts to enable feasible and smooth operations is set to augment segmental growth over the study time period.

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In terms of end-use, the rubber conveyor belt market has been classified into metal processing, mining, recycling, cement manufacturing, power generation, and others. The recycling sub-segment is poised to expand at more than 5.5% CAGR through the review period. This growth is attributed to the several steps involved in the process of recycling that require the use of rubber conveyor belts. Moreover, the ability to recycle waste products, coupled with encouragement from various governments, would support the growth of the recycling industry through 2027, which is likely to bolster product demand in the sector in the coming years.

From the regional perspective, the Middle East & Africa rubber conveyor belt market is speculated to grow at a CAGR of about 3% over the study timeline. The MEA region has enormous growth potential due to the existence of numerous untapped minerals and ores. Consequently, various players are expected to make investments in the domestic mining industry, which is projected to drive regional market growth over 2021-2027.