Worldwide Tire Material Industry to 2028 - Players Include Sinopec, JSR and Chevron Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Tire Material Market Size, Share & Analysis, By Type (Natural & Synthetic Rubbers, Carbon Additives), By Performance (Heavy Duty Tires, Mud Tires), By Eco-Friendly Material (Green Tires, Ordinary Tires), By Vehicle Type (Two Wheelers, Passenger Cars), And By Region, Global Foreca" report has been added to ResearchAndMarkets.com's offering.

Increasing production and sales of automobiles, and need for eco-friendly and enhanced tires are key factors driving market growth.

Market Size - USD 87.03 Billion in 2020, Market Growth - CAGR of 3.8%, Market Trends - Rising investment in development and launch of advanced tire material to cater to increasing demand from automotive industry

The global tire material market size is expected to reach USD 118.09 Billion in 2028, and register a CAGR of 3.8% during the forecast period. Rising disposable income of individuals, in developed and developing countries has positively impacted the sales of cars as well as motorbikes. This in turn is expected to drive market growth in the years to come.

Green tires enhance fuel-efficiency, decrease noise to some extent, and enhance the braking power of the vehicles, particularly while in the wet surfaces. The green tires reduce the rolling resistance of tires and power consumption while the vehicle is moving. Demand for green tires has been growing rapidly among manufacturers to comply with government regulations.

Fluctuating in the price of the raw materials severely affects the manufacturing and production costs, and this is could hamper the global tire material market growth.

Companies Mentioned

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

Some Key Findings From the Report:

• Among the type segments, the metal belts segment is expected to register a robust revenue CAGR during the forecast period.
• The carbon additives segment accounted for second-highest revenue share in the global tire material market in 2020, due to increasing Heavy duty tires have the highest amount of carbon additives usage for long-lasting, heavy friction-based continuous performance.
• Among the performance segments, the premium tires segment accounted for major revenue share in 2020.
• Among the eco-friendly material segments, the green tires segment accounted for considerably large revenue share in 2020, due to product features including better grip, and low rolling resistance.
• Among the vehicle type segments, the passenger cars segment accounted for the largest revenue share in 2020. The two wheeler segment is expected to register a robust revenue CAGR during the forecast period.
• The Asia Pacific market accounted for the largest revenue share in 2020, due to presence of large number of OEMs and aftermarket, increasing investments by players to develop technologically advanced vehicles, and growing purchasing power of consumers to purchase advanced vehicles in the region.
• The Europe market accounted for the second-largest share in terms of revenue in 2020. The market is North America is expected to follow the Europe market in terms of revenue share.

Reasons to Buy the Report

• A robust analysis and estimation of the Tire Material Market with four levels of quality check - in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
• A holistic competitive landscape of the all the major players in Tire Material Market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key developments
• Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
• Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
• Special focus given on vendor landscape, supplier portfolio, customer mapping, production capacity, and yearly capacity utilization

Key Topics Covered:

Chapter 1. Market Synopsis

Chapter 2. Executive Summary

Chapter 3. Indicative Metrics

Chapter 4. Tire Material Market Segmentation & Impact Analysis

4.1. Tire Material Market Material Segmentation Analysis

4.2. Industrial Outlook

4.2.1. Market indicators analysis

4.2.2. Market 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. Market 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

Chapter 5. Tire Material Market By Type Insights & Trends

Chapter 6. Tire Material Market By Performance Insights & Trends

Chapter 7. Tire Material Market By Eco-Friendly Material Insights & Trends

Chapter 8. Tire Material Market By Vehicle Type Insights & Trends

Chapter 9. Tire Material Market Regional Outlook

Chapter 10. Competitive Landscape

Chapter 11. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/ant7tm