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Demand for Rubber Conveyor Belts in Mexico to Grow Over 5% Annually Through 2022

Demand for rubber conveyor belts in Mexico is forecast to rise 5.3% per year through 2022 to $190 milliondriven by advances in local manufacturing output and construction activity. Rubber conveyor belt demand will also be supported by a continuing effort to develop Mexico's manufacturing section, which includes investment in automated material handling systems. These and other trends are presented in Global Rubber Conveyor Belts, a new study from The Freedonia Group, a Cleveland-based industry research firm

Mexico is a net importer of conveyor belts, with a trade deficit in 2017 equivalent to 18% of demand. Although Mexico is home to a sizable amount of local production, the nation's close proximity to the US, which is one of the world's largest conveyor belt producing nations, results in a fair amount of import competition. In fact, the US is responsible for nearly half of all of Mexico's rubber conveyor belt imports.

Global demand for rubber conveyor belts is forecast to rise 5.3% per year through 2022 to $7.8 billion. Textile reinforced conveyor belts will remain the most common type of rubber conveyor belt. The lower costs associated with these belts compared to steel cord or other specialty belts and their suitability for use in many applications contribute to their leading position. Steel cord rubber conveyor belts are expected to experience faster increases in demand through 2022, with sales stimulated by growth in mining activity, the largest market for rubber conveyor belts. The need for substantial lengths of conveyor belts and belts with an array of resistance strengths boosts the overall value of this market segment.