Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 98.17 billion

Market Size (2029)

USD 125.37 billion

CAGR (2024-2029)

4.12 %

Fastest Growing Segment

Passenger Cars

Largest Market

Asia Pacific

 

Market Overview

Global Tire Material Market was valued at USD 98.17 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 4.12% through 2029.

The global tire material market plays a pivotal role in the automotive industry, influencing tire performance and longevity. Encompassing materials like natural and synthetic rubber, fabric, carbon black, steel cord, and various additives, the tire material market is intricately connected to vehicle production, consumer preferences, and global economic trends. Its significance as a vital segment within the automotive industry underscores the need for a comprehensive analysis.

The market is witnessing a shift towards sustainable and eco-friendly materials, driven by increasing environmental consciousness. Bio-based and recycled materials are gaining prominence, aligning with efforts to reduce the environmental impact of tire production. Additionally, technological advancements, including nanotechnology in rubber compounds, silica utilization for enhanced fuel efficiency in tire treads, and the integration of smart tire technologies, are reshaping the industry. The rise of electric and autonomous vehicles is further driving demand for specialized tire materials designed to meet the unique requirements of these evolving automotive technologies.

The global automotive industry's growth, particularly in emerging markets, remains a significant driver for the demand in tire materials. Factors such as increasing vehicle production and a rising middle-class population contribute to the robustness of the market. Stringent regulations, focusing on tire labeling, fuel efficiency, and environmental impact, are compelling manufacturers to invest in research and development, steering the industry towards sustainable practices.

Fluctuating raw material prices, especially for natural rubber and oil-based derivatives, pose a challenge for manufacturers, impacting production costs and profit margins. The tire material market's high competitiveness, with numerous global and regional players vying for market share, intensifies the pressure on companies to innovate, enhance efficiency, and explore cost-effective solutions. The global tire material market operates at the nexus of innovation, sustainability, and technological advancements. As the automotive industry undergoes transformative changes with the advent of electric and autonomous vehicles, the tire material market must adapt to meet evolving demands. Sustainable practices, technological innovation, and compliance with regulatory standards will be pivotal in shaping the future of this dynamic market..

Key Market Drivers

Increasing Global Vehicle Production is Expected to Drive the Demand for Global Tire Material Market

The Global Tire Material Market is on a trajectory of significant growth, driven by the increasing global vehicle production that fuels the demand for tire materials. As the automotive industry expands to meet the growing transportation needs worldwide, the tire material market plays a crucial role in providing the essential components for tire manufacturing. The surge in vehicle production, encompassing passenger cars, commercial vehicles, and two-wheelers, has led to a parallel increase in the demand for tire materials, creating a robust and dynamic market landscape.

One of the primary factors propelling the demand for tire materials is the escalating global vehicle production. Emerging economies, urbanization trends, and a rising middle-class population contribute to the growing demand for automobiles. This surge in vehicle production, driven by factors such as increased disposable income, infrastructure development, and changing lifestyles, directly translates into an augmented need for tires and, consequently, tire materials. Original Equipment Manufacturers (OEMs) and tire manufacturers are expanding their production capacities to meet this escalating demand, intensifying the reliance on tire material suppliers. The tire material market encompasses various components, including natural rubber, synthetic rubber, carbon black, fabric reinforcements, and chemical additives. Natural rubber and synthetic rubber are fundamental constituents, providing the flexibility, resilience, and durability required for tire manufacturing. The demand for these rubber materials is intricately tied to the automotive industry's expansion, emphasizing the significance of the tire material market in parallel with the growth of the global vehicle fleet.

Carbon black, another vital component in tire manufacturing, contributes to the reinforcement and strength of tires. With the escalating demand for high-performance tires offering enhanced durability and fuel efficiency, the demand for premium-grade carbon black is witnessing an upswing. As vehicle manufacturers focus on producing fuel-efficient and eco-friendly vehicles, the tire material market becomes instrumental in providing advanced materials that align with these technological advancements. Moreover, fabric reinforcements, typically in the form of steel and polyester cords, play a crucial role in enhancing the strength and structural integrity of tires. The growth in vehicle production, especially in the commercial and heavy-duty segments, amplifies the demand for robust and durable tires, further driving the demand for fabric reinforcements. Additionally, chemical additives, such as antioxidants, accelerators, and anti-aging agents, are essential in tire compounding to enhance performance characteristics. The increasing focus on tire performance, safety, and longevity across various vehicle segments fuels the demand for these chemical additives, contributing to the overall expansion of the tire material market.

Furthermore, the tire material market is witnessing innovation and advancements in materials to meet evolving industry requirements. The advent of sustainable and environmentally friendly tire materials is gaining prominence, aligning with the automotive industry's commitment to sustainability. Manufacturers are exploring bio-based alternatives, recycled materials, and innovative formulations to reduce the environmental impact of tire production. This shift towards eco-friendly tire materials responds to both consumer preferences for sustainable products and the automotive industry's responsibility towards environmental conservation. Thus, the increasing global vehicle production is a pivotal driver propelling the demand for tire materials on a global scale. As the automotive industry expands to meet the rising demand for vehicles, the tire material market experiences parallel growth, providing the essential components for tire manufacturing. The diverse range of materials, including natural rubber, synthetic rubber, carbon black, fabric reinforcements, and chemical additives, collectively contributes to the production of high-performance and durable tires. The tire material market, intricately linked to the automotive sector, is poised for sustained growth as industry players navigate technological advancements, sustainability goals, and the evolving needs of a dynamic global transportation landscape.

Focus on Fuel Efficiency is Expected to Propel the Demand for Global Tire Material Market Growth

The Global Tire Material Market is poised for substantial growth, driven by an industry-wide focus on fuel efficiency in the automotive sector. As the global automotive landscape undergoes a transformative shift towards sustainability and environmental responsibility, the demand for tire materials that contribute to enhanced fuel efficiency has surged. This strategic focus is not only reshaping the priorities of Original Equipment Manufacturers (OEMs) and tire manufacturers but is also driving innovations and advancements in the tire material market. One of the primary catalysts behind the increased demand for tire materials is the imperative to improve fuel efficiency in vehicles. Governments, consumers, and industry stakeholders are increasingly recognizing the environmental impact of transportation, prompting a collective effort to reduce carbon emissions and enhance fuel economy. Tires play a crucial role in the overall efficiency of vehicles, as they significantly influence rolling resistance, a key factor in determining fuel consumption. The tire material market responds to this imperative by providing materials that contribute to reducing rolling resistance and improving fuel efficiency.

The demand for materials that strike a balance between durability, performance, and reduced rolling resistance is driving innovation in the tire material market. Rubber compounds, including both natural and synthetic rubber, are being formulated to optimize fuel efficiency without compromising on safety or tread life. The chemical composition of tire materials is undergoing refinement, with a focus on minimizing energy loss during tire deformation and maximizing energy transfer from the tire to the road. This shift in material formulations aligns with the automotive industry's commitment to producing vehicles that meet stringent fuel efficiency standards and emission regulations. Carbon black, a key component in tire manufacturing, is witnessing increased demand for its role in reinforcing tires while simultaneously contributing to lower rolling resistance. High-quality carbon black grades are being developed to enhance tire tread wear and overall performance while minimizing energy dissipation. This aligns with the broader goal of developing tires that not only provide superior handling and safety characteristics but also contribute to fuel savings and reduced carbon emissions.

In addition to traditional tire materials, the tire material market is witnessing the integration of advanced materials and technologies. Nanotechnology is playing a pivotal role in tire material innovation, offering the potential for further reductions in rolling resistance and improvements in overall tire performance. Nanomaterials, such as silica nanoparticles, are being incorporated into tire compounds to enhance grip, reduce heat generation, and contribute to fuel efficiency gains. The focus on fuel efficiency is particularly pronounced in the commercial and heavy-duty vehicle segments, where the economic and environmental implications of fuel consumption are significant. Truck fleets and logistics operators are actively seeking tires that not only withstand the rigors of heavy-duty applications but also contribute to fuel savings over the lifespan of the tire. The tire material market responds to this demand by offering materials designed to meet the specific requirements of commercial vehicles, including reinforced steel cords, advanced rubber compounds, and innovative tread designs.

Moreover, the tire material market is instrumental in supporting the adoption of electric and hybrid vehicles. As the automotive industry experiences a paradigm shift towards electric mobility, the dynamics of tire material requirements evolve. Electric vehicles (EVs) place unique demands on tires due to factors such as instant torque, weight distribution, and energy regeneration. Tire materials are being tailored to meet these specific challenges, ensuring that tires for electric and hybrid vehicles contribute to overall efficiency gains. Therefore, the global focus on fuel efficiency in the automotive sector is a driving force behind the growth of the Tire Material Market. The tire material industry plays a pivotal role in developing materials that contribute to reduced rolling resistance, improved fuel efficiency, and lower carbon emissions. As the automotive industry continues to prioritize sustainability and regulatory compliance, the tire material market is positioned at the forefront of innovation, providing solutions that align with the evolving needs of the global transportation landscape. The tire material market's role in advancing fuel-efficient technologies reflects a commitment to environmental stewardship and a sustainable future for the automotive industry.

Rising Sustainability Concerns is Expected Propels the Global Tire Material Market Growth

The Global Tire Material Market is experiencing a paradigm shift driven by the rising concerns and imperatives surrounding sustainability. As the world grapples with environmental challenges and strives to create a more sustainable future, the tire material industry has become a focal point for transformative changes. The push towards sustainability is not only reshaping the priorities of tire manufacturers but is also catalyzing innovations, regulations, and collaborative initiatives that are expected to propel the growth of the global tire material market. One of the primary drivers behind the increasing demand for sustainable tire materials is the growing global awareness of environmental issues and the need for responsible consumption. The tire industry, historically associated with environmental challenges such as tire disposal and rubber waste, is undergoing a comprehensive reevaluation of its practices. Manufacturers are under increasing pressure to adopt sustainable and eco-friendly materials, aligning with the broader goals of reducing carbon footprints, minimizing resource depletion, and mitigating the environmental impact of tire production.

Rubber, a fundamental component in tire manufacturing, is witnessing a transformation in its sourcing and processing to address sustainability concerns. The natural rubber industry is exploring sustainable cultivation practices, emphasizing biodiversity conservation and reducing the ecological footprint of rubber plantations. Additionally, the development of synthetic rubber alternatives derived from renewable feedstocks and bio-based sources contributes to the sustainability goals of the tire material market. These advancements respond to the call for reducing dependence on fossil fuels and mitigating the environmental impact of tire manufacturing. Furthermore, the adoption of recycled materials in tire production is gaining momentum as a sustainable solution to address the end-of-life challenges associated with tires. Recycled rubber, obtained from used tires through processes like tire shredding and crumb rubber production, is finding increased acceptance in tire manufacturing. The use of recycled rubber not only diverts waste from landfills but also conserves valuable resources and reduces the overall environmental impact of tire materials. The tire material market's commitment to incorporating recycled content aligns with the principles of the circular economy, promoting the reuse and recycling of materials throughout the tire lifecycle.

Carbon black, a critical reinforcing agent in tire compounds, is also undergoing a sustainability makeover. Traditional carbon black production processes are associated with significant carbon emissions, prompting the development of cleaner and more sustainable alternatives. Sustainable carbon black, produced through processes such as pyrolysis of waste tires or biomass, offers an eco-friendly alternative that reduces the reliance on traditional carbon black derived from fossil fuels. The tire material market's shift towards sustainable carbon black addresses both the environmental impact of tire manufacturing and the need for responsible sourcing of raw materials. The tire material market is also witnessing increased attention to the overall life cycle assessment of tires, from production to end-of-life disposal. Life cycle analysis involves evaluating the environmental impact of tire materials at each stage of their life, including manufacturing, use, and recycling or disposal. This holistic approach allows manufacturers to identify areas for improvement, optimize processes, and develop materials that contribute to a more sustainable and environmentally friendly tire industry.

Moreover, consumer preferences and regulatory frameworks are playing a pivotal role in shaping the sustainability trajectory of the tire material market. Consumers are increasingly inclined to choose products and brands that prioritize environmental responsibility, and this preference is influencing the purchasing decisions in the tire market. Governments and regulatory bodies are also implementing measures to encourage the adoption of sustainable practices in the tire industry, ranging from eco-labeling initiatives to stringent environmental regulations. The alignment of industry practices with these evolving consumer and regulatory expectations is expected to drive the demand for sustainable tire materials.

Hence, the rising concerns and imperatives surrounding sustainability are key factors propelling the growth of the Global Tire Material Market. The tire material industry is undergoing a transformative phase, with a focus on adopting sustainable sourcing, incorporating recycled materials, and minimizing the environmental impact of tire production. As the global community intensifies its commitment to sustainability, the tire material market is positioned to be a driving force in fostering eco-friendly practices and contributing to a more sustainable and responsible future for the tire industry.


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Key Market Challenges

Fluctuating Raw Material Prices Poses a Significant Obstacle To Market Expansion

Fluctuating raw material prices present a substantial obstacle to the global tire material market's expansion. The tire industry heavily relies on materials such as natural rubber, synthetic rubber, carbon black, and other additives, and the volatility in the prices of these key components introduces uncertainty and challenges for market participants. Factors such as weather conditions affecting rubber plantations, geopolitical tensions impacting the supply chain, and fluctuations in oil prices influencing synthetic rubber costs contribute to the unpredictability. These fluctuations can disrupt production schedules, increase manufacturing costs, and affect the overall competitiveness of the tire material market. To navigate this obstacle, industry stakeholders must implement strategic supply chain management practices, explore alternative sourcing options, and invest in technologies that enhance production efficiency. Collaboration between tire manufacturers and raw material suppliers is vital to create resilient supply chains that can withstand market uncertainties. Addressing the challenge of fluctuating raw material prices is crucial for sustaining global tire material market growth, ensuring stability in supply, and meeting the escalating demand for tires in various sectors, including automotive and transportation.

Balancing Sustainable Features with Affordability is Crucial for Widespread Adoption of Innovative Tire Materials

Balancing sustainable features with affordability emerges as a crucial challenge for the widespread adoption of innovative tire materials, posing a significant obstacle to the global tire material market expansion. As the tire industry increasingly pivots towards eco-friendly alternatives, the development of innovative materials, such as bio-based rubbers or recycled content, is essential. However, the challenge lies in making these sustainable options economically viable without significantly increasing the overall cost of tire production. Striking the right balance between environmental considerations and affordability is imperative to encourage both manufacturers and consumers to embrace these innovative materials. Industry stakeholders must invest in research and development to optimize manufacturing processes, reduce production costs, and explore sustainable sourcing practices. Additionally, fostering consumer awareness about the long-term benefits of environmentally friendly tire materials can contribute to market acceptance. Successfully addressing the delicate equilibrium between sustainability and affordability is pivotal for overcoming this obstacle, ensuring the wider adoption of innovative tire materials, and driving sustainable growth in the global tire material market.

Key Market Trends

Adoption of Self-Healing Technologies

An influential trend propelling the growth of the global tire materials market is the adoption of self-healing technologies. As tire manufacturers seek to enhance the longevity and durability of tires, self-healing technologies have emerged as innovative solutions to address issues like punctures and tread damage. This trend aligns with the broader industry objective of providing safer, more reliable, and maintenance-friendly tires to consumers.

One notable example of self-healing technologies in the tire materials market is the integration of innovative materials like self-sealing rubber compounds. These compounds contain special additives or capsules filled with sealant material that can automatically repair small punctures or leaks caused by nails, glass, or other sharp objects. When a puncture occurs, the heat generated by the friction of the tire on the road causes the sealant to flow into the puncture, effectively sealing it and preventing air leakage. This self-healing capability reduces the need for immediate tire replacements and enhances the safety and convenience for drivers. Additionally, advancements in tire materials involve the incorporation of smart technologies such as sensors and microcontrollers. These technologies enable real-time monitoring of tire conditions and the automatic adjustment of tire pressure to optimal levels. In cases where pressure drops due to a puncture, the self-healing mechanisms kick in to seal the breach, maintaining the tire's integrity and functionality.

The adoption of self-healing technologies not only contributes to increased tire lifespan but also addresses environmental concerns associated with tire disposal. By reducing the frequency of tire replacements, there is a positive impact on the overall sustainability of tire manufacturing and usage. Manufacturers are increasingly investing in research and development to further enhance the self-healing capabilities of tire materials, creating a competitive edge in the market and meeting consumer demands for innovative, reliable, and eco-friendly tire solutions.

Growing Popularity of Retreaded Tires

A prominent trend fueling the growth of the global tire materials market is the growing popularity of retreaded tires. Retreading involves the process of renewing worn-out tire treads using a combination of new and recycled materials. This sustainable approach aligns with the increasing emphasis on circular economy principles, where extending the lifespan of tires reduces the demand for new raw materials and minimizes the environmental impact of tire disposal.

One significant example of the growing popularity of retreaded tires is observed in the commercial transportation sector, particularly in the trucking and fleet management industries. Retreading offers a cost-effective alternative to purchasing new tires, allowing businesses to achieve significant savings without compromising on safety or performance. Fleet operators recognize the economic advantages of retreading, as it allows them to maximize the usability of tires and reduce the frequency of tire replacements, contributing to overall operational efficiency. Moreover, the adoption of retreaded tires is gaining traction in the passenger vehicle market. Consumers are increasingly recognizing the value of retreaded tires in terms of cost savings and environmental sustainability. The retreading process involves the removal of the worn-out tread and the application of a new tread, providing a renewed tire that performs comparably to a new one. This approach not only extends the life of the tire but also reduces the carbon footprint associated with tire production, aligning with the broader goals of environmental conservation.

As the tire industry seeks to address the challenges of resource scarcity and waste management, the growing popularity of retreaded tires emerges as a key trend shaping the global tire materials market. Manufacturers are responding to this trend by investing in research and development to enhance the durability and performance of retreaded tire materials, further bolstering their appeal in diverse market segments. Overall, the rising acceptance of retreaded tires reflects a significant shift in consumer and industry preferences towards sustainable and cost-effective solutions in the tire materials market worldwide.

Segmental Insights

Type Insights

Based on the type, the elastomer type segment has asserted its dominance, emerging as the key player in shaping the industry landscape. Elastomers, characterized by their elastic and flexible properties, play a crucial role in the composition of tire materials. This segment's prominence is rooted in the fundamental role elastomers play in enhancing the performance, durability, and safety aspects of tires.

Elastomers serve as a foundational component in tire manufacturing, contributing to the tire's ability to withstand varying road conditions, temperature fluctuations, and provide a comfortable driving experience. Their unique ability to revert to their original shape after deformation ensures that tires maintain resilience and grip on the road surface, crucial for vehicle stability and control. The dominance of the elastomer type segment is further underscored by the diverse range of elastomeric materials employed in tire production, including natural rubber and various synthetic elastomers like styrene-butadiene rubber (SBR), polybutadiene rubber (BR), and others. The versatility and adaptability of elastomers to meet specific performance requirements contribute significantly to their widespread use in tire formulations.

Elastomers also play a vital role in improving fuel efficiency and reducing rolling resistance in tires, aligning with the industry's focus on sustainability and environmental considerations. Manufacturers consistently rely on elastomeric materials to achieve the right balance between traction, wear resistance, and fuel efficiency in tire design. Additionally, the elastomer type segment's dominance is evident in the constant innovation and research directed toward developing advanced elastomeric compounds that enhance tire performance, longevity, and safety standards. As the automotive industry evolves, the demand for high-performance tires equipped with advanced elastomer technologies continues to grow.

End User Type Insights

Based on the end user type, the passenger cars segment has firmly established its dominance, emerging as the key player that significantly shapes the industry landscape. This dominance is a testament to the integral role that tire materials play in meeting the specific needs and demands of passenger vehicles. The prominence of the passenger cars segment is rooted in the sheer volume of tires required for the vast global fleet of passenger vehicles. As the most widely used type of vehicle, passenger cars drive substantial demand for tire materials, including various elastomers, reinforcing materials, and chemical compounds crucial for tire performance. Passenger cars, with their diverse range of models and specifications, necessitate tire materials that can cater to varying driving conditions, climates, and performance requirements. The tire materials used in the passenger cars segment are engineered to provide optimal grip, traction, and durability, ensuring a safe and comfortable driving experience for millions of motorists worldwide.

The dominance of the passenger cars segment is further underscored by the continuous innovation and research efforts directed at developing tire materials that enhance fuel efficiency, reduce rolling resistance, and improve overall performance—a key focus area for the automotive industry as it aligns with sustainability goals. Additionally, the passenger cars segment's dominance in the tire material market is reflective of the evolving consumer preferences for high-performance tires that offer superior handling, braking, and ride comfort. Manufacturers consistently tailor tire materials to meet the specific requirements of passenger vehicles, contributing to the segment's commanding position in the market. The growth of electric and hybrid passenger cars has further heightened the demand for specialized tire materials capable of addressing the unique challenges associated with alternative powertrain vehicles. This trend reinforces the passenger cars segment's influence in steering innovations within the tire material industry.  




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Regional Insights

Based on the region, the dominance of the Asia Pacific region in the global tire materials market can be attributed to its pivotal role in the construction industry. China, India, and Japan, major players in construction, contribute significantly to the demand for tire materials. The dynamic factors of rapid urbanization, population expansion, and extensive infrastructure development in these countries propel the construction sector, consequently driving the demand for tires. As per the World Green Building Council, 60% of the world's population resides in the Asia Pacific region, emphasizing its sheer market size. Anticipated urbanization reaching 3.3 billion by 2050 further solidifies the region's position as a primary driver of global demand for tire materials. The escalating requirements in construction, particularly the use of redispersible polymer powder, underscore the region's crucial role in the robust growth of the global tire materials market.

Recent Development

  • On February 27, 2023, Cabot Corporation unveiled its latest innovation, the E2C™ DX9660 solution, designed to enhance rubber durability by significantly improving abrasion resistance. This new product offers a notable 30% increase in abrasion resistance compared to conventional compounds, further expanding Cabot's range of E2C solutions suitable for various on-road commercial tire applications and industrial rubber products. Additionally, Cabot has conducted its inaugural life cycle assessment (LCA) of an E2C solution deployed in an on-road truck tire application.
  • In March 2023, LANXESS India has finalized the expansion of its Rhenodiv plant located in Jhagadia, Gujarat. This expansion enhances the production capacity of LANXESS' Rhenodiv line, a specialty chemicals offering. The company stated that this increased capacity, under its Rhein Chemie business unit, is strategically aimed at fulfilling the growing demand within the Indian Sub-continent as well as the tire and rubber goods markets across Asia.
  • In January 2024, Bekaert supplied Bridgestone Corporation with the initial shipment of tire reinforcement featuring recycled steel that has been certified by a third-party. This certification enables customers to incorporate recycled materials from Bekaert into their tire products.

Key Market Players

  • Chevron Corporation
  • Cabot Corporation
  • JSR Corporation
  • Thai Carbon Black PLC
  • Lanxess AG
  • Bekaert SA
  • Orion Engineered Carbon LLC
  • Royal Dutch Shell
  • Umicore SA
  • SIBUR International

 

By Type

By End User Type

By Region

  • Elastomers
  • Reinforcing Fillers
  • Plasticizers
  • Chemicals
  • Metal Reinforcements
  • Textile Reinforcements
  • Passenger Cars
  • Trucks
  • Buses
  • LCV
  • Others
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Tire Material Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Tire Material Market, By Type:

o   Elastomers

o   Reinforcing Fillers

o   Plasticizers

o   Chemicals

o   Metal Reinforcements

o   Textile Reinforcements

  • Tire Material Market, By End User Type:

o   Passenger Cars

o   Trucks

o   Buses

o   LCV

o   Others

  • Tire Material Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Qatar

§  Turkey

§  Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Tire Material Market.

Available Customizations:

Global Tire Material market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Global Tire Material Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Impact of COVID-19 on Global Tire Material Market

5.    Voice of Customer

6.    Global Tire Material Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value & Volume

6.2.  Market Share & Forecast

6.2.1.    By Type (Elastomers, Reinforcing Fillers, Plasticizers, Chemicals, Metal Reinforcements, Textile Reinforcements)

6.2.2.    By End User Type (Passenger Cars, Trucks, Buses, LCV, Others)

6.2.3.    By Region

6.2.4.    By Company (2022)

6.3.  Market Map

7.    Asia Pacific Tire Material Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value & Volume

7.2.  Market Share & Forecast

7.2.1.    By Type

7.2.2.    By End User Type

7.2.3.    By Country

7.3.  Asia Pacific: Country Analysis

7.3.1.    China Tire Material Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value & Volume

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Type

7.3.1.2.2.           By End User Type

7.3.2.    India Tire Material Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value & Volume

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Type

7.3.2.2.2.           By End User Type

7.3.3.    Australia Tire Material Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value & Volume

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Type

7.3.3.2.2.           By End User Type

7.3.4.    Japan Tire Material Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value & Volume

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Type

7.3.4.2.2.           By End User Type

7.3.5.    South Korea Tire Material Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value & Volume

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Type

7.3.5.2.2.           By End User Type

8.    Europe Tire Material Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value & Volume

8.2.  Market Share & Forecast

8.2.1.    By Type

8.2.2.    By End User Type

8.2.3.    By Country

8.3.  Europe: Country Analysis

8.3.1.    France Tire Material Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value & Volume

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Type

8.3.1.2.2.           By End User Type

8.3.2.    Germany Tire Material Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value & Volume

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Type

8.3.2.2.2.           By End User Type

8.3.3.    Spain Tire Material Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value & Volume

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Type

8.3.3.2.2.           By End User Type

8.3.4.    Italy Tire Material Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.           By Value & Volume

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By Type

8.3.4.2.2.           By End User Type

8.3.5.    United Kingdom Tire Material Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.           By Value & Volume

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By Type

8.3.5.2.2.           By End User Type

9.    North America Tire Material Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value & Volume

9.2.  Market Share & Forecast

9.2.1.    By Type

9.2.2.    By End User Type

9.2.3.    By Country

9.3.  North America: Country Analysis

9.3.1.    United States Tire Material Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value & Volume

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Type

9.3.1.2.2.           By End User Type

9.3.2.    Mexico Tire Material Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value & Volume

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Type

9.3.2.2.2.           By End User Type

9.3.3.    Canada Tire Material Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value & Volume

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Type

9.3.3.2.2.           By End User Type

10. South America Tire Material Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value & Volume

10.2.             Market Share & Forecast

10.2.1. By Type

10.2.2. By End User Type

10.2.3. By Country

10.3.             South America: Country Analysis

10.3.1. Brazil Tire Material Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value & Volume

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Type

10.3.1.2.2.         By End User Type

10.3.2. Argentina Tire Material Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value & Volume

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Type

10.3.2.2.2.         By End User Type

10.3.3. Colombia Tire Material Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value & Volume

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Type

10.3.3.2.2.         By End User Type

11. Middle East and Africa Tire Material Market Outlook

11.1.             Market Size & Forecast

11.1.1. By Value & Volume

11.2.             Market Share & Forecast

11.2.1. By Type

11.2.2. By End User Type

11.2.3. By Country

11.3.             MEA: Country Analysis

11.3.1. South Africa Tire Material Market Outlook

11.3.1.1.     Market Size & Forecast

11.3.1.1.1.         By Value & Volume

11.3.1.2.     Market Share & Forecast

11.3.1.2.1.         By Type

11.3.1.2.2.         By End User Type

11.3.2. Saudi Arabia Tire Material Market Outlook

11.3.2.1.     Market Size & Forecast

11.3.2.1.1.         By Value & Volume

11.3.2.2.     Market Share & Forecast

11.3.2.2.1.         By Type

11.3.2.2.2.         By End User Type

11.3.3. UAE Tire Material Market Outlook

11.3.3.1.     Market Size & Forecast

11.3.3.1.1.         By Value & Volume

11.3.3.2.     Market Share & Forecast

11.3.3.2.1.         By Type

11.3.3.2.2.         By End User Type

11.3.4. Qatar Tire Material Market Outlook

11.3.4.1.     Market Size & Forecast

11.3.4.1.1.         By Value & Volume

11.3.4.2.     Market Share & Forecast

11.3.4.2.1.         By Type

11.3.4.2.2.         By End User Type

11.3.5. Turkey Tire Material Market Outlook

11.3.5.1.     Market Size & Forecast

11.3.5.1.1.         By Value & Volume

11.3.5.2.     Market Share & Forecast

11.3.5.2.1.         By Type

11.3.5.2.2.         By End User Type

11.3.6. Egypt Tire Material Market Outlook

11.3.6.1.     Market Size & Forecast

11.3.6.1.1.         By Value & Volume

11.3.6.2.     Market Share & Forecast

11.3.6.2.1.         By Type

11.3.6.2.2.         By End User Type

12. Market Dynamics

12.1.             Drivers

12.2.             Challenges

13. Market Trends and Developments

13.1.             Recent Developments

13.2.             Product Launches

13.3.             Mergers & Acquisitions

14. Global Tire Material Market: SWOT Analysis

15. Pricing Analysis

16. Porter’s Five Forces Analysis

16.1.             Competition in the Industry

16.2.             Potential of New Entrants

16.3.             Power of Suppliers

16.4.             Power of Customers

16.5.             Threat of Substitute Application

17. PESTLE Analysis

1 Competitive Landscape

18.1.                  Chevron Corporation

18.1.1. Business Overview

18.1.2. Company Snapshot

18.1.3. Products & Services

18.1.4. Financials (In case of listed companies)

18.1.5. Recent Developments

18.1.6. SWOT Analysis

18.2.             Cabot Corporation

18.3.             JSR Corporation

18.4.             Thai Carbon Black PLC

18.5.             Lanxess AG

18.6.             Bekaert SA

18.7.             Orion Engineered Carbon LLC

18.8.             Royal Dutch Shell

18.9.             Umicore SA

18.10.          SIBUR International

19. Strategic Recommendations

20. About us and Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Tire Material Market was estimated to be USD 98.17 billion in 2023.

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Based on the end user type, The passenger cars segment has firmly solidified its dominance, emerging as the primary influencer that significantly shapes the industry landscape. This dominance underscores the crucial role tire materials play in meeting the specific needs and demands of passenger vehicles.

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Based on the region, The Asia Pacific region's leadership in the global tire materials market is primarily due to its central role in the construction industry. Key construction players such as China, India, and Japan greatly contribute to the demand for tire materials.

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Increasing global vehicle production and focus on fuel efficiency are the major drivers for the Global Tire Material Market.

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Sakshi Bajaal

Business Consultant
Press Release

Tire Materials Market to Grow with a CAGR of 4.12% through 2029

Mar, 2024

Increasing global vehicle production and focus on fuel efficiency are factors driving the Global Tire Material market in the forecast period 2025-2029