LONDON—The Chinese rubber machinery market is expected to reach $4.07 billion by 2017 due to growth in the Chinese economy and automotive industry, according to a report from the Sino Market Insight.
Fuelled by the rise in tire investment, the rubber machinery industry in China showed a 36.5 percent rebound in 2013, with the revenue for the year hitting $2.3 billion, said the 98-page China Rubber Machinery Industry Report for 2014 to 2017.
Revenue, it estimated, accounted for 48.6 percent of the global total in 2013, rising 8.2 percent compared with 2012.
The report also predicted that the rapid growth in the production and total ownership of cars in China would require the supporting tire market to develop fast—leading to a rapid growth of revenue from the rubber machinery industry in China.
“What's more, the global leading tire manufacturers will speed up the establishment of factories in China, which would drive the demand for tire exports,” the report stated.
This, it concluded, will further expand the market demand for the rubber machinery in China.
In 2013, the top five rubber machinery enterprises in China by the revenue were respectively Mesnac, Dalian Rubber & Plastics Machinery, Yiyang Rubber & Plastics Machinery Group, Tianjin Saixiang Technology and Guilin Rubber Machinery.
Yiyang Rubber & Plastics Machinery Group and Guilin Rubber Machinery are subsidiaries of China National Chemical Equipment Corp.