Global Tire Material Market is expected to reach USD 103.37 billion by 2025, from USD 73.98 billion in 2017 growing at a CAGR of 4.2% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
global Tire material market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of tire material market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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Tire is a tough and flexible rubber covering that is attached to the rim of a wheel. A Tire provides traction to the vehicle and serves as a pad for the wheel. The most common form of the tire is pneumatic. The pneumatic tire consists of an inner tube that holds the air pressure. Nowadays pneumatic tires are designed to form a pressure seal with the rim of the wheel.
Key Market Competitors: Global Tire Material Market
The key players operating in the global tire material market are –
- Cabot Corporation.
- The Goodyear Tire & Rubber Company
- JSR Corporation
The other players in the market are China Petroleum & Chemical Corporation, Orion Engineered Carbons, Royal Dutch Shell, Chevron Corporation, Nynas AB, PetroChina Company Limited, Exxon Mobil Corporation., SIBUR INTERNATIONAL, Ralson Goodluck Carbon, Longxing Chemical, Phillips, U.S. Zinc., American Zinc Recycling LLC, PPG Industries, Inc, SRF Limited, Umicore SA, TEIJIN ARAMID B.V., Aeolus Tyre Co., Ltd., ATG., Metro Tyre, Australian Tyre Traders., Dun & Bradstreet, Inc., Birla Tyres, Carlisle Companies Inc., DMACK Tyres, Federal Corporation, Multistrada Arah Sarana, PT Tbk., Nokian Tyres Group, Omni United Pte Ltd. Servis Tyres, Shandong Hengfeng Rubber & Plastic Co., Ltd. and many more.
Segmentation: Global Tire Material Market
- By Type (Elastomers, Reinforcing Fillers, Plasticizers, Chemicals, Metal Reinforcements, Textile Reinforcements, Others)
- By Vehicle Type (Passenger Cars, Trucks, Buses, Agricultural Vehicles, Others)
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
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- Growth in the automotive industry
- Improvement in rubber chemistry and tier design
- Rising demand from developing countries
- Continuous change in raw material prices
- Strict government regulation regarding road safety
Key Insights in the report:
- Historical and current market size and projection up to 2025
- Market trends impacting the growth of the global tire material market
- Analyse and forecast the tire material market on the basis of type and vehicle type
- Trends of key regional and country-level markets for type and vehicle type
- Company profiling of key players which includes business operations, product and services, geographic presence, recent developments and key financial analysis.
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