Flat belt growth expected.
In the light weight belting sector, the market will expand approximately 8% in 1994 over the level posted in 1993, setting a new industry record. The committee forecasted a compounded annual growth rate for light weight belt of approximately 3.0% through 1999.
Heavy weight belting is expected to grow at a rate of 6% in 1994 over 1993. The strength in heavy industries such as mining, logging and construction has driven a strong expansion in 1994 for the heavy weight sector. Through 1999 the heavy weight sector will grow at an annual compounded rate of 2.5%.
The power transmission flat belt industry is also on track for healthy growth in 1994, according to the committee, with 1994 coming in around 15.0% higher than 1993. Long term growth through 1999 is comparable with the light and heavy sectors, with transmission flat expanding at approximately a 3.0% annually compounded rate.
The committee expressed a different outlook on the "other" flat belt market, with growth in both the near and long term being quite moderate. Annual growth is expected to maintain a level of about 1.0%.
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|Title Annotation:||Rubber Manufacturers Association's Flat Belt Market Analysis Committee|
|Article Type:||Brief Article|
|Date:||Dec 1, 1994|
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