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Tire Material Market by Type Outlook, Performance Outlook, Eco-Friendly Material Outlook and Region Forecast to 2028

Reports And Data

Reports And Data

The global tire material market size was USD 87.03 Billion in 2020 and is expected to reach a value of USD 118.09 Billion by 2028

NEW YORK, NY, UNITED STATES, October 15, 2021 /EINPresswire.com/ -- The global tire material market is forecast to reach USD 118.09 Billion by 2028, according to a new report by Reports and Data. The market is rising rapidly as the sales of passenger cars are propelling mostly in the developing regions due to an increase in disposable earning. The overall vehicle sales globally have also increased substantially because of the technological advancements in the automotive industry. The rise in demand for green tires in Europe has helped the tire material market grow apace.

The Asia Pacific region is forecasted to generate the highest revenue of USD 40.76 Billion in the year 2026, owing to its record increasing sales of passenger vehicles and two-wheelers segment in the developing economies such as India and Thailand.

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Key participants include Sinopec, Birla Carbon, Phillips Carbon Black Limited, JSR Corporation, Orion Engineered Carbons, Lanxess Aktiengesellschaft, Chevron Corporation, Kuraray Co., Ltd., Royal Dutch Shell PLC, and Exxon Mobil Corporation.

Table of Content:

Chapter 1. Synopsis

1.1. Definition

1.2. Research Scope & Premise

1.3. Methodology 1.4. Estimation Technique

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2020 – 2028

Chapter 3. Indicative Metrics

Chapter 4. Tire Material Segmentation & Impact Analysis

4.1. Tire Material Material Segmentation Analysis

4.2. Industrial Outlook

4.2.1. indicators analysis

4.2.2. drivers analysis

4.2.2.1. Propelling sales of passenger cars and two-wheelers in developing countries

4.2.2.2. Rising demand for green tires 4.2.2.3. Increasing prices in luxury cars

4.2.3. restraints analysis 4.2.3.1. Price fluctuations with raw chemicals additives

4.2.3.2. Hazardous smoke from burnt tires for recycling purpose

4.3. Technological Insights 4.4. Regulatory Framework

4.5. ETOP Analysis 4.6. Porter’s Five Forces Analysis

4.7. Competitive Metric Space Analysis 4.8. Price trend Analysis...

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/tire-material-market

Further key findings from the report suggest

Two wheelers segment had a share of 18.0% in 2018 and will be growing at a CAGR of 4.7% during the forecast period. Two wheelers include all the two wheeler vehicles, namely, bicycles, motorbikes, scooters, and others. The considerable increase in sales of these vehicles has helped the tire material grow actively.
Passenger cars segment has the highest share of about 28.6% in 2018 and is expected to grow the fastest throughout the forecast period. Mostly the developing countries have enlisted the high growth rates of passenger cars, due to the rise in disposable earnings and lower interest rates of the loans via some government organizations and other insurance agencies.
Others segment consist of the aviation, and tractors’ usage of the tires. Most of the fixed-wing aircraft require tire for the landing purpose. Also, some of the non-automotive applications such as lawnmowers, carts, wheelbarrows, and casters among others fall under this segment as these applications also have the end-use of tire materials. Others segment will have a revenue of USD 1.44 Billion by 2026.
Natural & synthetic rubbers are the most used material for tire manufacturing. Most common used elastomer is styrene-butadiene rubber (SBR) which comes from the synthetic rubber polymer family being derived from styrene and butadiene. This kind of material is ideal for any abrasion resistance. The forecasted revenue in 2026 for this segment is USD 33.34 Billion.
Mud-terrain tires have a high use of carbon additives and fabric reinforcements for a high active grip in the muds. This kind of tires are mostly used in the tractors for harvesting purposes. Mud-terrain tires are expected to grow at a CAGR 4.2% during the forecast period.
APAC, owing to the record sales rate of passenger cars in developing regions coupled with the development in the manufacturing industries, is helping the grow with the fastest CAGR of 5.4% throughout the forecast period. China and Japan are some of the most active contributors in this region.
North America is accounted to gain 23.7% of possession by 2026 with a CAGR of 4.3% in the forecast period.

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For the purpose of this report, Reports and Data have segmented the global tire Material on the basis of the type, performance, Eco-Friendly Material, Vehicle Type, and region:

Type Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2018-2028)

Natural & Synthetic Rubbers
Carbon Additives
Metal Belts
Chemical Additives
Chemical Activators
Fabric Reinforcements
Others

Performance Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2018-2028)

Standard Tires
Low Profile Tires
Sports Tires
Heavy Duty Tires
Mud Tires
High Grip Tires
Premium Tires

Eco-Friendly Material Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2018-2028)

Green Tires
Ordinary Tires

Vehicle Type Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2018-2028)

Two Wheelers
Rickshaws
Passenger Cars
Trucks
Buses
Utility Vehicles
Others

Regional Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2018-2028)

North America
U.S.
Europe
UK
France
Asia Pacific
China
India
Japan
MEA
Latin America
Brazil

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Reasons for Buying this Report

This report provides pin-point analysis for changing competitive dynamics
It provides a forward-looking perspective on different factors driving or restraining market growth
It provides a six-year forecast assessed on the basis of how the market is predicted to grow
It helps in understanding the key product segments and their future
It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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