Tire Materials Market Worldwide & Regional Industry Size, Trends, Analysis, Statistics & Forecast 2020 | Top Players Solvay SA, Lanxess AG, Exxon Mobil Corporation, JSR Corporation, Cabot Corporation, Birla Carbon, Evonik Industries AG

North America and Europe tire industries are estimated witness a slowdown in the coming years, due to the increasing competition from Chinese tire manufacturers and their low-ranged products. However, North America and Europe are anticipated to be potential tire materials markets for tire materials, owing to the predominance of key tire manufacturers in the region.

The Worldwide Tire Materials Market is anticipated to exceed USD 112.34 billion by 2028, growing at a CAGR of 4.5% during the forecast period.

This detailed market study covers tire materials market growth potentials which can assist the stake holders to understand key trends and prospects in tire materials market identifying the growth opportunities and competitive scenarios. The report also focuses on data from different primary and secondary sources, and is analyzed using various tools. It helps to gain insights into the market's growth potential, which can help investors identify scope and opportunities. The analysis also provides details of each segment in the global tire materials market

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What factors will enhance the demand for this market?

Tires are an important part of the automobile industry and thus, production and sales of vehicles directly affect the dynamics within the tire industry. Over the recent past, the automotive industry has registered significant growth and is expected to grow at the same rate over the projected period. This growth is expected to be comparatively higher in Asian countries, such as China and India, which can be attributed to better economic conditions and growing inclination of population towards comfort-traveling, and this in turn, is expected to fuel the demand for tires. In a vehicle, a tire is one of those parts that must be replaced frequently, after every 2-3 years as tires experience maximum wear and tear and therefore have a considerable demand in the aftermarket as well.

What will support in the Growth of Tire Materials Market?
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.

Important developments so far-

In September 2017, Thai Carbon Black Public Company Limited (Thailand) commenced its operation to produce carbon black in a Greenfield facility in Jining, China. The plant is being constructed in two phases. Currently, the company has installed a production capacity of 120,000 ton per year in phase 1 and is expected to increase the production capacity to 240,000 tons. This expansion will enable the company to serve its customers in China.

In February 2017, Solvay SA (Belgium) launched its breakthrough innovation 'Premium SW', new highly dispersible silica (HDS) which boosts the performance of energy saving tires on passenger cars, reducing fuel consumption and CO2 emissions.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT Analysis:
Solvay SA
Lanxess AG
Exxon Mobil Corporation
JSR Corporation
Cabot Corporation
Birla Carbon
Evonik Industries AG
Bekaert
Royal Dutch Shell
Chevron Corporation
Umicore SA.

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Regional segmentation and analysis to understand growth patterns:
The market has been segmented in major regions to understand the global development and demand patterns of this market.

The market has been segmented in major regions to understand the global development and demand patterns of this market. For tire materials market , the segments by region are North America, Asia Pacific, Western Europe, Eastern Europe, Middle East, and Rest of the World. During the forecast period, North America, Asia Pacific and Western Europe are expected to be major regions on the tire materials market .

The Asia Pacific region is estimated to register fastest growing tire materials market since some of the major economies like China, India, and South Korea are present in the region. In recent decades, these countries have witnessed strong government spending on defense infrastructure, as well as promoting air transport and space research. During the forecast period, the Middle East region is estimated to be a potential region for tire materials market in the aerospace and defense sector. It is estimated that Eastern Europe will have stable demand during the forecast period. Also, the rest of the world is expected to be an emerging market with increasing demand.

Market Segmentation:

By Vehicle Type:

Passenger
Commercial
Electric Vehicles
Defense
Construction
Farm-Tractors
Others

By Type:

Elastomers
Plasticizers
Chemicals
Reinforcing Fibers
Metal Reinforcements
Textile Reinforcements

By Region:

North America
By Country (US, Canada, Mexico)
By Vehicle Type
By Type
Western Europe
By Country (Germany, UK, France, Spain, Rest of Western Europe)
By Vehicle Type
By Type
Eastern Europe
By Country (Russia, Turkey, Rest of Eastern Europe)
By Vehicle Type
By Type
Asia Pacific
By Country (China, Japan, India, Rest of Asia Pacific)
By Vehicle Type
By Type
Middle East
By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
By Vehicle Type
By Type
Rest of the World
By Region (South America, Africa)
By Vehicle Type
By Type

Reasons to Buy This Report:

Market size estimation of the global tire materials market on a regional and global basis.
Unique research design for market size estimation and forecast.
Profiling of major companies operating in the tire materials market with key developments.
Broad scope to cover all the possible segments helping every stakeholder in the tire materials market.

Contact:

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This release was published on openPR.