Tire Rubber Market Future Industry Outlook with Manufacturers (2022-2028) | Kumho Petrochemical, Lanxess, Goodyear, JSR

The "Tire Rubber Market" report describes in detail the demand and consumption of various products related to the market growth dynamics during the forecast period of 2022-2028. A detailed market assessment of the various opportunities in the market segment is expressed in terms of quantity. These are discussed in many sections, including constraints, challenges and opportunities, regional breakdown, and opportunity assessment. This global Tire Rubber Market report guarantees rich data on various market opportunities. The research report covers key gaming enthusiasts within the industry, CAGR value, market drivers, restraints, and international competitive strategies from the region.  The report includes strong research from expert analysts.

The global Tire Rubber Market is expected to grow with a CAGR greater than 5.4% during the forecast period of 2022-2028.

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Key Market Insight:

Properties such as heat and abrasion resistance make rubber a highly useful and valuable raw material in various end-use industries. It is mostly used in manufacturing products such as tires, adhesives, hoses, gaskets, and roll coverings. The rising demand from the automotive industry for tire and non-tire applications is one of the key rubber market trends. It is majorly used in the manufacturing of tires due to its strong properties, such as tear resistance and toughness. It also works under low-temperature conditions. It is a perfect material for the manufacturing of tires and hence, accounts for over 40% of the share in the overall tire composition. Additionally, properties, such as weather resistance, insulation property, and flexibility increase the usage in industrial applications including transmission belts,

The major companies operating in the global Tire Rubber Market outlined in the report are:

Kumho Petrochemical,Lanxess,Goodyear,JSR,TSRC,Trinseo,Synthos,Lion Elastomers(Ashland),LG,Bridgestone,Michelin

Recent Development:

LANXESS has acquired 16 companies, including 4 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 3 assets. LANXESS's largest acquisition to date was in 2022, when it acquired Royal DSM - Engineering Materials Business for $4.2B. It's largest disclosed sale occurred in 2019, when it sold Currenta OHG to Macquarie Infrastructure and Real Assets for $3.9B. LANXESS has acquired in 5 different US states, and 7 countries. The Company's most targeted sectors include chemicals (94%) and manufacturing (7%).

Goodyear Tire has acquired 5 companies, including 3 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 5 assets. Goodyear Tire's largest acquisition to date was in 2021, when it acquired Cooper Tire & Rubber for $2.5B. It's largest disclosed sale occurred in 2007, when it sold Veyance Technologies to for $1.5B. Goodyear Tire has acquired in 2 different US states, and 3 countries. The Company's most targeted sectors include automotive (40%) and manufacturing (40%).

Tire Rubber Market Segments:

Market Segmentation: By Type

SBR

Natural Rubber

Polybutadiene Rubber

Butyl Rubber

Others

Market Segmentation: By Application

Automobile Tire

Motorcycle Tire

Machine Tire

Others

Regions Are covered by Global Tire Rubber Market 

For a comprehensive understanding of market dynamics, the Global Tire Rubber Market is analyzed across key geographies namely: 

North America (United States, Canada, and Mexico) 

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, and Colombia)

Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).

Regional Analysis:

The market size in the Asia Pacific stood at USD 22.09 billion in 2019. Asia-Pacific is the largest producer as well as a consumer with Thailand being the largest producing country of natural rubber and China being the largest consumer. The Asia Pacific is expected to witness the highest growth in the market across the globe. Growth in the automotive and construction industries is a key driver of the market in this region. China, Japan, and India are key countries contributing to the market growth in the region owing to the rising tire production and construction activities in these countries.

North America is anticipated to remain a key region in the market during the forecast period owing to the rising demand in automotive and footwear applications. The market in North America is also driven by factors, such as rising application in chemical and textile industries, and advancements in technologies.

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The study objectives of this report are:

- To study and analyze the Global Tire Rubber market size (value and volume) by the company, key regions/countries, products and applications, history data from 2016 to 2021, and forecast to 2028.

- To understand the structure of Tire Rubber by identifying its various sub-segments.

- To share detailed information about the key factors manipulating the growth of the market (growth potential, opportunities, drivers, industry-specific challenges, and risks).

- To analyze the report with respect to individual growth trends, future prospects, and their contribution to the total market. 

- To analyze modest developments such as expansions, agreements, new product launches, and acquisitions in the market.

- To strategically profile the key players and comprehensively analyze their growth strategies.

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Scope of The Tire Rubber Market Report:

- The report analyses Tire Rubber by Type Segment.

- The report assesses the Tire Rubber by End User. 

- The Global Tire Rubber has been analyzed by Region.

- The key insights of the report have been presented through the frameworks of SWOT and Market Attractiveness charts.

- The attractiveness of the market has been presented by Region, Type and by End User. Additionally, the major opportunities, trends, drivers and challenges of the industry has been analyzed in the report.

- The report provides a detailed pipeline analysis developed to cure the problem of Tire Rubber.

- The report tracks competitive developments, strategies, mergers and acquisitions and new product development.

-To take advantage of business owners, tap hard at Tire Rubber research to get a thorough understanding of current momentum.

- The report presents the analysis of Tire Rubber for the historical period of 2016-2021 and the forecast period of 2022-2028.

Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain have been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.

Customizable: The Global Tire Rubber Market

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