Global Polyurethane Tires Market Size study & Forecast, by Type (PPG Polyurethane and PTMEG Polyurethane) and Sales Channel (OEM and Aftermarket) and Regional Analysis, 2022-2029

Global Polyurethane Tires Market Size study & Forecast, by Type (PPG Polyurethane and PTMEG Polyurethane) and Sales Channel (OEM and Aftermarket) and Regional Analysis, 2022-2029

Global Polyurethane Tires Market is valued at approximately USD 1260 million in 2021 and is anticipated to grow with a healthy growth rate of more than 7.6 % over the forecast period 2022-2029. A synthetic rubber that combines the suppleness of rubber and the strength of plastic is used to make polyurethane tires. Abrasion resistance and reduced operational noise are features of polyurethane tires. Industrial vehicles and the material handling industry both use polyurethane tires extensively. These tires differ from typical rubber tires in that they can handle more weight and can withstand chemicals. In comparison to rubber tires, they are also more environmentally friendly. Tires made of polyurethane are perfect for heavy-duty lift trucks since they can support easily twice as much weight as tires made of rubber. The increasing demand for material handling equipment and the growing supply chain & logistics sector are key factors driving the market growth.

The increasing demand for material handling equipment due to increased storage capacity and improved inventory control at low labor costs is contributing towards the growth of the Global Polyurethane Tires Market. For instance, - as per Statista – in 2020, material handling equipment sales amounted to around 1.75 million units, and the sales are projected to reach over 3.1 million units by 2029. Also, growing industrialization in developing regions and increasing investment towards the development of multimodal logistics parks would create a lucrative growth prospectus for the market over the forecast period. However, the limited lifespan associated with Polyurethane Tires stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Polyurethane Tires Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the dominance of leading market players as well as the growing expansion of the automotive, food, pharmaceuticals, and transportation sectors in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising industrialization coupled with increasing application of forklifts and other material handling equipment in the transportation and logistics sector in the region.

Major market player included in this report are:
Trelleborg AB
Amerityre Corporation
Stellan STELLA TYRE CO., LTD
Thombert Inc
Himaxar Ltd
Uremet Corporation
Apexway Engineering Private Limited
TVS Group
Albion Casters
Xiamen Aleader Tire & Wheel Industrial Co., Ltd.

Recent Developments in the Market:
In August 2022, Trelleborg AB announced the acquisition of Minnesota Rubber & Plastics to strengthen its product offerings in various industries. The company also aims to generate significant synergies in terms of lower costs and higher production efficiency.

Global Polyurethane Tires Market Report Scope:

Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Sales Channel, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type
PPG Polyurethane
PTMEG Polyurethane
By Sales Channel
OEM
Aftermarket

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned

Trelleborg AB
Amerityre Corporation
Stellan STELLA TYRE CO., LTD
Thombert Inc
Himaxar Ltd
Uremet Corporation
Apexway Engineering Private Limited
TVS Group
Albion Casters
Xiamen Aleader Tire & Wheel Industrial Co., Ltd.

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