Tire Material Market Overview

Maximize Market Research, a Tire Material business research firm has published a report on the “Tire Material Market”. Which provides Industry Analysis (business insights, demand analysis, pricing analysis, and competitive landscape).

Estimated Revenue Growth:

Tire Material Market was valued at USD 89.24 Bn in 2022 and is expected to reach USD 131.38 Bn by 2029 at a CAGR of 5.68% over the forecast period 2023-2029.

Dynamics of the Tire Material Market

Different tires are used by automotive companies for different types of cars based on the environment and season. A variety of materials, including cloth, wire, synthetic and natural rubber, carbon black, and other chemical compounds, are used to make automobile tires. After the recent COVID-19 economic crisis, the global automotive sector is gradually rebounding, particularly in the major economies of the US, China, India, Japan, and Germany, where earnings and sales are increasing. Global automakers' revenues are predicted to increase by about 50% by 2029. The expansion of both developed and emerging markets, including the US, will be the primary source of the new profits. Growth in South Korea, Japan, and Europe will not change.

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Tire Material Market Report Scope and Research Methodology

Maximize Market Research, a leading business research firm, presents a comprehensive analysis of the Tire Material Market. This report delves into industry dynamics, demand patterns, pricing structures, and competitive landscapes, offering invaluable insights for stakeholders across various sectors.

The assessment of the Tire Material Market employs a meticulous approach, combining primary and secondary research methodologies. Primary research involves direct engagement with industry experts, suppliers, producers, and consumers, while secondary research draws from trusted sources such as market reports, industry publications, and government data. Historical trends, competitor analysis, and data modeling techniques further enrich the research process, ensuring accurate market predictions and growth evaluations.

Tire Material Market Segmentation

by Type

• Elastomers
• Reinforcing Fillers
• Plasticizers
• Chemicals
• Metal Reinforcements
• Textile Reinforcements
• Others

The market is divided into different materials based on type, including plasticizers, metal reinforcements, textile reinforcements, elastomers, and others. Due to the growing use of elastomers in passenger cars, the material segment for elastomers had the largest market share overall in 2022 and is predicted to maintain this position during the forecast period. Both synthetic and natural rubber are elastomers. Butadiene rubber and styrene butadiene rubber are the two primary synthetic rubber elastomers used in the tire industry. To improve the strength and flexibility, natural rubber is mixed with these rubber polymers. Plasticizers and chemical material segments come after the elastomer material section. Passenger vehicles had the largest market share of all vehicle types in 2022, and this trend is anticipated to continue throughout the projection period.

by Vehicle Type

• Passenger Cars
• Trucks
• Buses
• LCV

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Tire Material Market Key Players

• Lanxess
• Cabot Corporation
• Phillips Carbon Black Limited
• The Goodyear Tire and Rubber Company
• Sinopec
• Kurarey
• JSR Corporation
• Thai Carbon Black Public Company Limited (Birla Carbon)
• Orion Engineered Carbons S.A.
• Royal Dutch Shell
• Chevron Corporation
• Nynas AB
• Petrochina
• Exxonmobil
• Sibur
• Ralson Goodluck Carbon
• Longxing Chemical
• Phillips 66 Company
• U.S. Zinc
• Horsehead Corporation
• Umicore SA
• SRF Limited

Tire Material Market Regional Insights

The market report covers North America, Europe, Asia Pacific, South America, and the Middle East&Africa comprehensively. It provides information on the market trends in these areas, enabling stakeholders to grasp the factors influencing the Tire Material industry environment. In addition, the report provides a thorough examination of the market size and market share in the industry, presenting valuable information and statistics for making well-informed decisions. Analysis assists businesses and investors in evaluating the competitiveness of the market and recognizing potential areas for growth.

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Key questions answered in the Tire Material Market are:

• What growth strategies are the players considering to increase their presence in Tire Material?
• What are the upcoming industry applications and trends for the Tire Material Market?
• What segments are covered in the Tire Material Market?
• Who are the key players in the Tire Material market?
• What is Tire Material?
• What segments are covered in the Tire Material Market?
• Who are the leading companies and what are their portfolios in Tire Material Market?

Key Offerings:

• Market Size, Share, Size & Forecast by different segment
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation – A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
• Competitive landscape – Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of Business by Region
• Lucrative business opportunities with SWOT analysis
• Recommendations

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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