Tire Rubber Alternative Market Some of the key players | Balkrishna Industries Limited, Bridgestone Corporation, Continental AG, Apollo Vredestein Europe
Looking at the health and safety risks posed by massive volumes of tire waste stockpiles, it is more likely that automotive tire manufacturers will continue to focus on material innovations in sustainable tire rubber alternatives, pushing the growth of tire rubber alternative market.
Companies Prioritizing On-site R&D of Tire Rubber Alternatives
Prominent players in the rubber alternative market are identified to emphasize on-site R&D of environmentally sound tire rubber alternatives. Strategic research agreements are projected to further improve prospects of the emergence of innovative tire rubber alternatives in coming years.
India-based BKT (Balkrishna Industries Limited) is currently positioning the brand as a leading designer and manufacturer of tires manufactured from novel tire rubber alternatives. The recognized off-highway vehicle tire maker launched their on-site R&D center earlier in 2018, and is maintaining the R&D focus on sustainability i.e. natural as well as synthetic tire rubber alternatives. BKT recently signed a collaborative R&D agreement with Kultevat, Inc., a leading biotech firm in the US green technology realm. Sustainable extraction and stabilization of high-quality dandelion rubber as a tire rubber alternative is currently in the spotlight at BKT’s R&D center based in Bhuj.
Bridgestone Corporation is promoting tires of passenger cars that are 100% sourced from natural tire rubber alternative - guayule. The company is conducting entire research at their Italy, Rome, and Japan-based technical centers. Guayule-derived tire rubber alternative is cultivated at the company’s US-based Biorubber Process Research Center, and is used as a tire rubber alternative replacing conventional rubber in sidewalls, tread, bead filler, and other major components.
Continental AG recently received recognition for production, testing, and industrialization of commercially using 100% dandelion as a tire rubber alternative. The company, at their Germany-based research center, is planning to innovate and launch the industrial series of Russian dandelion-derived tire rubber alternative in the near future.
Apollo Vredestein Europe (Apollo Tyres), under the EU-PEARLS project, recently announced R&D of natural tire rubber alternatives derived from both dandelion and guayule. The company is currently concentrating on extensive testing of the innovated tire rubber alternatives, before they are launch in tire rubber alternative market.
Pirelli & C. S.p.A. introduced a new guayule-derived tire rubber alternative in the ultra-high performance (UHP) tire segment. The company’s research division intends to develop tire rubber alternatives to synthetic polymers that are derived from oil products.
Cooper Tire & Rubber Co., in partnership with PanAridus, LLC, has been a part of a consortium granted by USDA/USDOE and funded by the Federal Government. The research consortium is currently focusing on commercialization of guayule crop cultivation to better cater to expanding demand from the tire rubber alternative market.
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Rubber Market Facing Challenges due to Hike in Price & Unsustainability
Although the primary natural rubber sources are not anticipated to diminish any time soon, rubber has become one of the prime traded commodities – eventually resulting in mounting prices over the recent past. With the precarious investment scenario developed around rubber market that has led to soaring prices of tires, it becomes imperative to invest prudently in discovering better, lesser harmful, ecofriendly tire rubber alternatives.
Over Hevea tree, the most sought after natural rubber source, Guayule – a desert shrub – has been considered to be the most productive tire rubber alternative. While Russian dandelion has also been a favored choice as a tire rubber alternative among manufacturers owing to its high latex rubber content, entire commercialization of tires that are made from tire rubber alternatives is still to be achieved.
Market Witnessing R&D of Tire Rubber Alternatives with Reduced Carbon Footprint
Amerityre Corporation recently stepped in the green products manufacturing segment, with automotive tires that are made from 100% non-toxic raw materials by the processes that support zero-emission objective. Unlike conventional tire rubber, Amerityre’s tire rubber alternatives are devoid of carbon black, benzene, and polyurethane foam tire products. With low ownership and maintenance costs, these tire rubber alternatives are claimed to be of superior quality and high energy efficient. The tire rubber alternatives by Amerityre are specifically invented to support conventional yet non-harmful tire disposal practices and recycling – with a much lower, sustainable carbon footprint.
Global Tire Rubber Alternative Market Taxonomy
The tire rubber alternative market is classified on the basis of the source of tire rubber alternative and the type of vehicle.
By Source –
Based on the Type of Vehicle -
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The geographical analysis of global tire rubber alternative market categorized the tire rubber alternative landscape into five key regions.
The study presents reliable qualitative and quantitative insights into:
Market segments and sub-segments
Market trends and dynamics
Supply and demand chain of the market
Market valuation (revenue and/or volume)
Forces defining present and estimated future state of the competitive landscape
Value chain and stakeholder analysis
The regional analysis covers:
Middle East and Africa
The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.
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