Global non-tire rankings rattled as investments abound

The ranking of global non-tire rubber product makers was rattled a bit this year as companies swapped places, climbed the charts and slid a bit.

Globally, the spotlight belongs to Freudenberg Group, which again took the No. 1 spot in our ranking of non-tire rubber product makers. Overall, $7.72 billion—or 60 percent of the company's $12.8 billion in sales last year—was attributed to rubber products.

Continental A.G. held strong to the No. 2 position with $6.4 billion in non-tire rubber product-related sales. Non-tire rubber sales accounted for just about 14 percent of the company's $44.8 billion sales total last year.

Parker-Hannifin Corp. and Hutchinson S.A. swapped places on this year's global non-tire ranking, coming in at Nos. 3 and 4, respectively.

For Parker-Hannifin, about $5.33 billion of the company's $19 billion in global sales came from rubber products. Meanwhile, 95 percent of Hutchinson's global sales of $5.19 billion came from rubber product sales, about $4.93 billion.

Jumping into the No. 5 spot was Sumitomo Riko Co. Ltd., which draws 95 percent of its $4.37 billion in global sales from rubber-related products. The company, which posted $4.16 billion in rubber product sales last year, held the eighth spot on the 2022 ranking.

The Japanese hose maker is investing in its operations, growing its footprint and potential output in the process. Last year, the company announced an investment of $18.8 million for the expansion of its plant in Queretaro, Mexico, adding 107,640 square feet to the 129,167-sq.-ft. plant.

Holding tight to the No. 7 spot is Trelleborg A.B., posting sales of about $3.07 billion. When the company divested its Trelleborg Wheels Systems business to Yokohama last year, it noted that it was ready to grow—both organically and by acquisition.

It wasn't kidding.

The company has reinvented itself over the last year, restructuring its sealing and medical units and making inroads in biopharma, aerospace, hydrogen and semiconductor applications through acquisitions and expansions.

The Sweden-based firm said in March that it plans to invest more than $9 million over two years to open a new facility in Morocco to focus on sealing solutions for the aerospace industry.

Trelleborg in April finalized the $62 million purchase of a South Korean precision seals manufacturer for semiconductor production equipment.

And in February, the newly formed Trelleborg Medical Solutions broke ground on a $21 million medical component production facility in Costa Rica.

The 107,000-sq.-ft. greenfield project, driven by regionalization, a focus on supply chain continuity and Costa Rica's draw as a hotbed for medical device production, is scheduled for a 2025 completion.

And this month, Trelleborg Sealing opened a new $2.5 million hydrogen testing facility in Fort Wayne, Ind., a nod to the element's role as an energy source of the future.

These investments have Trelleborg well-positioned for growth in the coming years.

One company worth watching on the global stage is Michelin. The Clermont-Ferrand, France-based tire maker is employing a growth strategy that involves expansion of its non-tire related activities. The aim is to grow its non-tire product and materials portfolio so it accounts for 20 percent of group sales by 2030.

Currently, Michelin said, non-tire related sales account for just 5 percent of sales.

But the company already is showing growth, jumping four spots to No. 22 on our global ranking of non-tire rubber product makers.

Henniges Automotive Inc. is another company that is eyeing greater market share in the non-tire rubber product space.

The company jumped three spots to No. 27 on the global non-tire product makers ranking this year, posting sales of $993.2 million.

And it hopes to do even more. The company has been investing in automation at its sites worldwide to ensure more efficient operations.

It is growing around sustainability, too. The company may be in the enviable position of having its products transfer easily from one powertrain to another, but it's working hard to ensure that its products also meet the sustainability needs of customers—think lightweighting, recycled and recyclable materials.

In doing so, Henniges is working to ensure its products are in demand.

For every up, there's a down, and that is the case with non-tire rubber rankings as well, as several companies tumbled a few spots.

Yokohama Rubber Co. Ltd. slid five spots to No. 37 on the list with total non-tire rubber product sales around $701.4 million, or about 10 percent of global sales.

Bridgestone dropped four spots from No. 10 to No. 14, posting 2023 non-tire rubber product sales of about $2.12 billion.

Also sliding on the list were glove makers, who saw demand fall off following the surge brought by the COVID-19 pandemic.

Ansell Ltd. fell two spots to No. 19. The Australian company posted sales of around $1.85 billion last year.

But it was Top Glove that took the biggest hit, tumbling from No. 23 on the 2023 ranking to No. 48 this year. The Malaysian glove maker posted 2023 sales of $493.9 million, down drastically from its $1.26 billion in sales in 2022.