DUBLIN--(BUSINESS WIRE)--The "Tire Material Market by Type (Elastomers, Reinforcing Fillers, Plasticizers, Chemicals, Metal Reinforcements, Textile Reinforcements), Vehicle Type (Passenger Cars, Trucks, Buses, LCV), and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The global market size for tire material was USD 73.93 billion in 2017 and is projected to reach USD 91.23 billion by 2022, at a CAGR of 4.3% between 2017 and 2022.
The increasing sales of vehicles and demand for low rolling resistance tires are the most significant factors projected to drive the growth of the tire material market.
The elastomers segment accounted for the largest share of the tire material market as compared to other materials in 2016, in terms of volume. Elastomers include natural rubber and synthetic rubber. Different companies are engaged in R&D activities to develop ecofriendly elastomer materials for use in tire production. Growth in vehicle use is expected to boost the demand for elastomers during forecast period.
The passenger cars segment is expected to be the fastest-growing segment of the tire material market, in terms of both value and volume. The market for passenger cars is majorly driven by the increasing population, and the ability to purchase cars due to the growing per capita income. Various banking schemes and subsidies provided by governments on vehicle purchase are also expected to increase car sales, globally.
China is expected to be the largest and the fastest-growing market for tire material in APAC as well as globally. The presence of a large number of vehicle manufacturers, cheap labor, and easy availability of raw material are the key factors projected to drive the growth of the tire material market in China.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Tire Material Market, By Type
7 Tire Material Market, By Vehicle Type
8 Tire Material Market, By Region
9 Competitive Landscape
10 Company Profiles
- Cabot Corporation
- Phillips Carbon Black Limited
- The Goodyear Tire and Rubber Company
- JSR Corporation
- Thai Carbon Black Public Company Limited (Birla Carbon)
- Orion Engineered Carbons S.A.
- Royal Dutch Shell
- Chevron Corporation
- Nynas AB
- Ralson Goodluck Carbon
- Longxing Chemical
- Phillips 66 Company
- U.S. Zinc
- Horsehead Corporation
- Umicore SA
- SRF Limited
- PPG Industries
For more information about this report visit https://www.researchandmarkets.com/research/8kzz79/tire_material?w=4