The 2023 list of the top 50 global non-tire rubber products announced

The European Rubber Journal (ERJ) released its 2023 ranking of the top 50 global non-tire rubber products. The report shows that the ranking of the global non-tire rubber products industry has not changed much this year, but a new face has been successfully shortlisted. Sales revenue failed to continue the rebound trend of the previous year, and industry concentration continued to decline. However, due to the impact of rising costs such as raw materials, the forecast for future profits is not optimistic.

It is worth mentioning that the number one company this year is still Germany's Freidenberg, with sales reaching US$7.0518 billion. It was closely followed by mainland Germany and Hutchinson of France, ranking second and third respectively. American Parker Hannifen ranked fourth. It is worth noting that the fifth company is Germany's Gates Group, which has increased by two places compared with last year. Japan's NOK has also made progress, rising from eighth to sixth.

In addition, Swiss Holcim Group became the only new face to enter the rankings, ranking 12th. The company acquired Eaton Hydraulic Division in the United States in August 2021, making it a dark horse this year. Affected by the decline in market demand after the end of the COVID-19 epidemic, two latex glove manufacturers from Malaysia, Subema Supermax and Top Gloves, dropped from 19th and 5th to 43rd and 24th respectively.

According to the overall situation of the industry, sales of the global non-tire rubber products industry this year are flat compared with last year, but the growth momentum has not continued. Growth was smaller in Europe, while sales fell in Japan. In addition, sales and proportion of the top ten industry companies also declined, indicating that industry concentration continues to decline. At the same time, rising energy, materials and labor costs have led to a decline in profits for many companies, and companies are not optimistic about their future profit prospects.

It is understood that among the global non-tire rubber products industry, the United States has the largest number of companies, with a total of 14 companies on the list. Closely followed by Japan, with 13 companies ranking among the top 50. A total of 16 companies are on the list in the EU region, with a large number of companies from countries such as Germany, Sweden and France. Among the other companies that entered the rankings, there are two in Malaysia, two in China, and one each in Australia, South Korea and the United Kingdom.

Although some companies have achieved sales growth, overall, the global non-tire rubber products industry is facing many challenges. Factors such as rising costs and fluctuating market demand make the profit situation not optimistic. Companies need to actively respond to changes in the market environment and find ways to innovate and improve efficiency to remain competitive. It is expected that more adjustments and changes will occur in the industry in the future.