Tire Chemicals Market to Surpass 42.5 Million Tons by 2025
Growing
demand for highly durable tires, with higher fuel efficiency and better wet
grip to drive global tire chemicals market through 2025
According to TechSci Research
report, “Global Tire Chemicals Market By Type, By Tire Category, By Region, Competition Forecast &
Opportunities, 2011-2025”, the global tire chemicals market
is projected to surpass 42.58 million tons by 2025, on account of growing
demand for highly durable tires by passenger cars, medium & heavy
commercial vehicle and OTR tires segment. In 2015, global tire demand stood at
2080 million units, and demand is expected to increase further during the
forecast period, owing to increasing
vehicle sales, expanding vehicle fleet size, coupled with growing demand for
tires from replacement segment. In 2015, demand for passenger
car stood at 1241 million, which is further forecast to reach 1659 by 2020. Moreover,
demand for heavy & medium weight vehicle from across the world stood at 129
million in 2015, and is projected to to reach 165 million by 2020. Thereby,
growing demand for passenger car and heavy & medium weight vehicle, coupled
with rising need for high performance tires from across the world to drive
global tire chemicals market during the forecast period.
Browse 6 market data Tables and 111 Figures
spread through 226 Pages and an in-depth TOC on "Global Tire Chemicals Market"
https://www.techsciresearch.com/report/global-tire-chemicals-market-by-type-natural-rubber-synthetic-rubber-carbon-black-etc-by-tire-category-passenger-car-bus-and-truck-etc-by-region-competition-market-forecast-opportunities-2011-2025/682.html
Tire chemicals are of various
type that are used in tire manufacturing includes such as, natural rubber,
synthetic rubber, accelerators, plasticizers, stearic acid, anti-oxidants,
fillers, carbon black, synthetic textile, zinc oxide and sulphur. Among the
aforementioned chemicals natural rubber and synthetic rubber accounted for
highest market share in global tire chemicals market in 2015, and they are
expected to continue to dominate the market in the coming years as well, owing
to growing demand for tires with properties such as strong grip, resistance
to abrasion, ability to carry and transport loads, etc. Asia-Pacific region
dominated the tire chemicals market across the globe in 2015, and is further
anticipated to maintain its dominance in the market during the forecast period,
on account shifting of number of automotive manufacturing base from North
America and Western Europe to Asia-Pacific region due to easy accessibility of
raw material such as natural rubber and synthetic rubber in the region, coupled
with low labor cost, relaxed government policies for setting up of automotive
manufacturing facilities.
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“Oversupply
of natural rubber and synthetic rubber by number of Asian countries in global
tire chemicals market created a situation of demand deficit, thereby leading to
declining prices of synthetic rubber and natural rubber, which are major raw
material used in tire manufacturing. However, growing intervention by the
governments of these Asian countries to keep a check on the production of tire
chemicals, coupled with growing demand for better performance tires and rising
fleet size vehicles to drive global tire chemicals market during the forecast
period”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Global Tire Chemicals Market By Type, By Tire Category,
By Region, Competition Forecast & Opportunities, 2011-2025”
has evaluated the future growth potential of global tire chemicals market and
provides statistics and information on market structure, size, share and future
growth of global tire chemicals market. The report is intended to provide
cutting-edge market intelligence and help decision makers take sound investment
evaluation. Besides, the report also identifies and analyzes emerging trends
along with essential drivers, challenges and opportunities in the global tire
chemicals market.
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