Global Tire Material Market is Thriving with Rising Latest Trends by 2027 | Top Players- China Petroleum & Chemical Corporation, Orion Engineered Carbons, Royal Dutch Shell, Chevron Corporation, Nynas AB

For an ever increasing business growth and maximum return on investment (ROI), Global Tire Material Market research report plays very important role. Details about the market drivers and market restraints for industry included in this report helps understand whether the demand of the products will rise or get lower. Gaining valuable market insights with the new skills, latest tools and innovative programs is sure to help achieve business goals. The information and data cited in this Global Tire Material Market business report is collected from the trustworthy sources such as websites, journals, mergers, and annual reports of the companies.

Market Analysis:

The 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.

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Key Market Competitors: Global Tire Material Market

The key players operating in the global tire material market are -

LANXESS
Cabot Corporation.
The Goodyear Tire & Rubber Company
JSR Corporation
Columbian

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.

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)- Industry Trends and Forecast to 2025

The competitive analysis is also performed in this Global Tire Material Market report which covers strategic profiling of key market players, their core competencies, and competitive landscape of the market which aids businesses characterize their individual strategies. This market research report intensely analyses the potential of the market with respect to current scenario and the future prospects by considering several industry aspects. In this Global Tire Material Market report, market segmentation is carried out in terms of markets covered, geographic scope, years considered for the study, currency and pricing, research methodology, primary interviews with key opinion leaders, DBMR market position grid, DBMR market challenge matrix, secondary sources, and assumptions.

Market Definition: Global Tire Material Market

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. To develop proper toughness and flexibility, the rubber must be treated with different chemicals and then should be heated gradually. According to the Industrial Trade Administration, in 2017, U.S. light vehicle sales reached up to 17.1 million units. In the same year, about 2.0 million new light vehicles and 130,000 medium and heavy trucks were shipped by the U.S. to more than 200 markets all around the world with additional exports of automotive parts valued almost about USD 85.6 billion. The above mentioned factors prove that the market for the automobile industry is growing drastically around the globe and will ultimately drive the demand for tire material.

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Market Drivers:

Growth in the automotive industry
Improvement in rubber chemistry and tier design
Rising demand from developing countries

Market Restraint:

Continuous change in raw material prices
Strict government regulation regarding road safety

Segmentation: Global Tire Material Market

By Type

Elastomers
Reinforcing Fillers
Plasticizers
Chemicals
Metal Reinforcements
Textile Reinforcements
Others

By Vehicle Type

Passenger Cars
Trucks
Mining & construction
Buses
Agricultural vehicles
Others

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Competitive Landscape: Global Tire Material Market

The 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.

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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