“Tire Material Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on tire material market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
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- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for tire material? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The tire material market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
- 1) By Type: Elastomers; Reinforcing Fillers; Plasticizers; Chemicals; Metal Reinforcements; Textile Reinforcements; Other Types
- 2) By Tire Types: Solid Tire; Pneumatic Tire; Retreated Tires
- 3) By Vehicle Type: Two Wheelers; Rickshaws; Passenger Cars; Trucks; Buses; Utility Vehicles; Other Vehicle Types
- 4) By Application: Passenger Cars; Commercial Vehicles
- Companies Mentioned: Orion Engineered Carbons; SIBUR International GmbH; SRF LIMITED; Nynas AB; Exxon Mobil Corporation
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the market are Orion Engineered Carbons, SIBUR International GmbH, SRF LIMITED, Nynas AB, Exxon Mobil Corporation, PPG Industries, Inc., Koninklijke Philips N.V., Teijin Aramid B.V., Umicore, Heuver.com, ATG COGNIZANT, Metro Tyre, Federal Corp, Carlisle Companies lnc, and Nokian Tyres plc.
The global tire material market is expected to grow from $80.67 billion in 2022 to $85.26 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The tire material market is expected to reach $103.15 billion in 2027 at a CAGR of 4.9%.
The tire material market consists of sales of tire materials by light to medium tires including winter tires, all-season tires, all-terrain tires, mud terrain tires, high-performance tires, and run-flat tires. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Tire material is a type of rubber that is used in the production of tires. Tires are made from synthetic rubber, natural rubber, cloth, and steel cables, as well as carbon black and other chemical compounds.
Asia-Pacific was the largest region in the tire material market in 2022 and is expected to be the fastest-growing region in the forecast period. The regions covered in the tire material report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of tire materials are elastomers, reinforcing fillers, plasticizers, chemicals, metal reinforcements, textile reinforcements and others. Elastomeric refers to a polymer's rubber-like properties, i.e., the ability of a material to regain its original shape after a load is removed from it. The several types of tires are included are solid tires, pneumatic tires, and retreated tires. These are used in different vehicle types such as two-wheelers, rickshaws, passenger cars, trucks, buses, utility vehicles and others, that are applied in passenger cars and commercial vehicles.
An increase in the production of motor vehicles is expected to propel the growth of the tire materials market going forward. A motor vehicle refers to any vehicle, tractor-trailer, or semi-trailer that is driven or towed by a mechanical method and is used to convey goods on roadways. Tires function to provide traction for acceleration and braking while also limiting vibration transmission to the automobile body. For instance, in April 2022, according to a report published by the European Automobile Manufacturers Association, a Belgium-based lobbying and standards group for the automobile industry in the European Union, in 2021, 79.1 million motor vehicles were produced around the world, an increase of 1.3% compared to 2020. Therefore, the increase in the production of motor vehicles is driving the growth of the tire materials market.
Growing popularity for eco-friendly tire materials is the key trend gaining popularity in the tire material market. Eco-friendly products typically contain recycled material gathered from a natural source. Major companies operating in the tire material market are focused on developing new eco-friendly tire product to strengthen their position. For instance, in September 2021, GRI Tires, a Sri Lanka-based manufacturer of specialty tires launched ULTIMATE GREEN XT, one of the environmentally friendly materials for handling solid tires. The ULTIMATE GREEN XT is made up of 42.8% sustainable materials, bio-sourced and recycled components, natural rubber, silica, recycled carbon black, and reclaimed rubber from old tires. This new tire consumes less energy because it has a lower rolling resistance than the current tire. Thus, using ULTIMATE GREEN XT tire on an electric forklift or an internal combustion engine forklift would result in greater energy savings which has a 26.6% lower abrasion loss, with a longer lifespan.
In June 2021, Goodyear Tire & Rubber Company, a US-based tire manufacturing company acquired Cooper Tire & Rubber Company for an undisclosed amount. The acquisition is expected to bring together two leading tire companies with complementary product portfolios, services, and capabilities that would provide more value-added options, making it easier for customers and consumers to select Goodyear and Cooper-branded tires. Cooper Tire & Rubber Company is a US-based company specializing in the automobile and truck tires.
The countries covered in the tire material market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The tire material market research report is one of a series of new reports from The Business Research Company that provides tire material market statistics, including tire material industry global market size, regional shares, competitors with a tire material market share, detailed tire material market segments, market trends and opportunities, and any further data you may need to thrive in the tire material industry. This tire material market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Table of Contents
1. Executive Summary
2. Tire Material Market Characteristics
3. Tire Material Market Trends And Strategies
4. Tire Material Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Tire Material Market
- 4.2. Ukraine-Russia War Impact On Tire Material Market
- 4.3. Impact Of High Inflation On Tire Material Market
5. Tire Material Market Size And Growth
- 5.1. Global Tire Material Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Tire Material Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Tire Material Market Segmentation
- 6.1. Global Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Elastomers
- Reinforcing Fillers
- Plasticizers
- Chemicals
- Metal Reinforcements
- Textile Reinforcements
- Other Types
- 6.2. Global Tire Material Market, Segmentation By Tire Types, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Solid Tire
- Pneumatic Tire
- Retreated Tires
- 6.3. Global Tire Material Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Two Wheelers
- Rickshaws
- Passenger Cars
- Trucks
- Buses
- Utility Vehicles
- Other Vehicle Types
- 6.4. Global Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Passenger Cars
- Commercial Vehicles
7. Tire Material Market Regional And Country Analysis
- 7.1. Global Tire Material Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Tire Material Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Tire Material Market
- 8.1. Asia-Pacific Tire Material Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Tire Material Market
- 9.1. China Tire Material Market Overview
- 9.2. China Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Tire Material Market
- 10.1. India Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Tire Material Market
- 11.1. Japan Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Tire Material Market
- 12.1. Australia Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Tire Material Market
- 13.1. Indonesia Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Tire Material Market
- 14.1. South Korea Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Tire Material Market
- 15.1. Western Europe Tire Material Market Overview
- 15.2. Western Europe Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Tire Material Market
- 16.1. UK Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Tire Material Market
- 17.1. Germany Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Tire Material Market
- 18.1. France Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Tire Material Market
- 19.1. Eastern Europe Tire Material Market Overview
- 19.2. Eastern Europe Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Tire Material Market
- 20.1. Russia Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Tire Material Market
- 21.1. North America Tire Material Market Overview
- 21.2. North America Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Tire Material Market
- 22.1. USA Tire Material Market Overview
- 22.2. USA Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Tire Material Market
- 23.1. South America Tire Material Market Overview
- 23.2. South America Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Tire Material Market
- 24.1. Brazil Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Tire Material Market
- 25.1. Middle East Tire Material Market Overview
- 25.2. Middle East Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Tire Material Market
- 26.1. Africa Tire Material Market Overview
- 26.2. Africa Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Tire Material Market Competitive Landscape And Company Profiles
- 27.1. Tire Material Market Competitive Landscape
- 27.2. Tire Material Market Company Profiles
- 27.2.1. Orion Engineered Carbons
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. SIBUR International GmbH
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. SRF LIMITED
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. Nynas AB
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. Exxon Mobil Corporation
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Tire Material Market
29. Tire Material Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer