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| Non tire rubber industry sales rebound strongly |
| Recently, the 2024 Global Top 50 Non Tire Rubber Products Rankings organized by the European Rubber Journal (ERJ) were released. The ranking of the "Top 50" non tire rubber industry has undergone significant changes, with American company Parker Hannifin squeezing into the top three, ending the history of the "Top Three" being dominated by European companies. Anhui Zhongding Sealing Parts Company, a Chinese enterprise, has entered the "Top Ten", marking the first breakthrough of a Chinese enterprise in the non tire rubber industry. The global non tire rubber industry has experienced a strong rebound in sales, with increased industry concentration and improved profits. However, it is facing pressures such as rising labor and energy costs, and the future is highly uncertain. Industry ranking dust settles As usual, the 2024 Global Non Tire Rubber Products "Top 50" ranking is based on the company’s sales of non tire rubber products in 2023. The first and second positions remain unchanged, with Keppel growing by 9.6% and maintaining its stable position as the top spot with $7.7291 billion, while mainland China grew by 3.0% and ranked second with $6.4 billion. Parker Hannifin grew 20.2% to $5.3 billion, ranking third and ending the long history of European companies occupying the "top three" in the world’s non tire rubber industry. Hutchinson grew by 6.7%, ranking fourth with $4.627 billion, bidding farewell to the "top three". Afterwards, Sumitomo Technology advanced three places from eighth to fifth, Gates Group retreated one place to sixth, Trelleborg remained unchanged at seventh, Cooper Standard advanced one place to eighth, NOK retreated three places to ninth, and Anhui Zhongding Seals advanced three places to tenth. This is the first time that Chinese non tire rubber enterprises have entered the "top ten". The two glove latex production companies in Malaysia have experienced a significant decline in ranking, with the top glove dropping from 24th place to 48th place. Supermax withdrew from the top 50 due to poor demand for gloves, becoming the only company to withdraw from the "Top 50" this year. One new "Top 50" enterprise is Shidong Rubber, mainly engaged in rubber production and trade. Among the "Top 50", the United States has 14 countries, making it the country with the most entries into the "Top 50". Japan has 13, ranking second. There are 16 companies in the EU region, including 4 in Germany, 2 in Sweden, 3 in France, 3 in Switzerland, 2 in Italy, 1 in Austria, and 1 in Denmark. In addition, there are 2 in China, 1 in Malaysia, 1 in Australia, 1 in South Korea, 1 in the UK, and 1 in Thailand. In addition to Zhongding Seal, which ranks 10th in China, Zhuzhou Times New Materials ranks 17th. Strong rebound in industry sales In 2023, the overall sales of non tire rubber industry will rebound significantly. The total sales revenue of the "Top 50" non tire rubber industry in the world in 2023 is 86.8421 billion US dollars, an increase of 3.6% compared to 2022. By region, the European region grew by 5.3% to reach 35.9 billion US dollars; The North American region grew by 6.2% to reach $25.3 billion; Japan grew by 3.5% to $16.317 billion. Among the 49 comparable digital enterprises in the "Top 50", 29 showed positive growth, 19 showed a decline, and 1 remained unchanged. Among the top ten, 9 companies are growing and 1 company is declining. The main companies with significant growth rates are Sumitomo Technology, Michelin, and HS Research, with growth rates of 45.55%, 38.59%, and 31.62%, respectively. The top gloves, Semperit, and Yokohama rubber showed the largest decline, with declines of 61.06%, 57.12%, and 17.69%, respectively. According to product classification, there has been a significant decline in companies producing protective products related to the epidemic, such as top gloves and Senperit. The number of "2 billion dollar clubs" in the top 50 has increased from 14 to 17, while the number of "1 billion dollar clubs" remains at 26. The sales revenue of the "top ten" reached 42.849 billion US dollars, accounting for 49.34% of the total, an increase of 2.07 percentage points compared to the previous year. The sales revenue of the top three ranked companies was 19.467 billion US dollars, accounting for 22.41% of the total, a decrease of 1.22 percentage points compared to the previous year, indicating an increase in industry concentration. Profit improves but there is uncertainty The overall profit of the non tire rubber industry has improved. From the published 2023 profits and profit margins, the majority of companies have seen growth in profits and profit margins. Among the 42 companies with comparable profits, 36 increased and 6 decreased. However, there is still significant uncertainty in global market trends. According to the survey, in the early months of 2024, the world’s non tire rubber giants faced pressure on sales and profits, mainly due to global economic trends, rising labor and energy costs, and geopolitical tensions. ContiTech, a subsidiary of mainland China, reported that demand for industrial and automotive businesses "significantly decreased" in the first quarter, especially in Europe, where the company’s automotive manufacturing related businesses did not show significant improvement in the first half of the year. However, in terms of the full year outlook, the mainland predicts that its business performance will improve, stating that "the first quarter will be the bottom of this year". Trelleborg President Peter Nilsson said, "Over the past few quarters, the performance of several sub markets for non tire rubber has been sluggish. In Trelleborg’s industrial solutions, the construction market still faces pressure, and demand in certain industrial application areas is also weak. Toyota Synthesis Corporation stated that the automotive industry is supported by stable supply and strong demand, particularly in emerging markets where electric vehicle sales are growing, with sales increasing by 12.5% year-on- year in 2023. However, in the outlook for 2024, Toyota Synthetic stated that profits are expected to decline due to sales and market conditions. Detweiler Company stated that it is cautiously optimistic about the outlook for 2024, with revenue growth expected to be in the single digit percentage range, thanks to new projects in its healthcare and connector businesses. |
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| Release time: 2024-08-15 Click: 86 |
Company Name: Tianjin Shengfan Technology Corporation
Mobile Phone: 86-16600237486
Email: chris@dyessf.com
Website: www.dyessf.com
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