Global Tire Material Market 2024-2028
Global Tire Material Market 2024-2028
The tire material market is forecasted to grow by USD 14542.7 mn during 2023-2028, accelerating at a CAGR of 3.2% during the forecast period. The report on the tire material market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rise in sales of passenger vehicles globally, consumer inclination toward online tire purchases, and reducing prices of natural rubber.
Technavio's tire material market is segmented as below:
- By Type
- Elastomers
- Reinforcing fillers
- Plasticizers
- Chemicals
- By Vehicle Type
- Passenger cars
- Trucks
- Buses
- LCV
- By Geographical Landscape
- APAC
- North America
- Europe
- South America
- Middle East and Africa
This study identifies the shift towards sustainable materials as one of the prime reasons driving the tire material market growth during the next few years. Also, increasing adoption of nanotechnology in tire manufacturing and growing online tire e-retailing market will lead to sizable demand in the market.
The report on the tire material market covers the following areas:
- Tire material market sizing
- Tire material market forecast
- Tire material market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading tire material market vendors that include Aditya Birla Management Corp. Pvt. Ltd., Bridgestone Corp., Cabot Corp., Continental AG, Dassault Systemes SE, Evonik Industries AG, Exxon Mobil Corp., GRI Tires, Hyosung Advanced Materials, Indorama Ventures Public Co. Ltd., JSR Corp., KURARAY Co. Ltd., Lanxess AG, Nokian Tyres Plc., PetroChina Co. Ltd., Schubert and Salzer GmbH, Trelleborg AB, Umicore SA, Yokohama Rubber Co. Ltd., and ZEPPELIN GmbH. Also, the tire material market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.