Press release
Retread Tire Market Key Facts, Market Size, Dynamics, Segments and Forecast Predictions Presented and Forecast: 2022-2031 | Michelin, Bridgestone, The Goodyear Tire & Rubber Company, Continental AG
Retread Tire Market
A retread tire is a tire that has been used previously but has been given new tread to extend its lifespan. The tread is the part of the tire that comes into contact with the ground, so it is important to have a good tread in order to maintain traction and prevent slipping. Retreading tires is a way to save money and resources, as it is cheaper than buying new tires and it keeps old tires out of landfills.
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Key Trends
There are a few key trends in retread tire technology.
One is the development of new tread compounds that provide better grip and wear resistance.
Another is the use of new technologies to improve the bonding of the tread to the carcass. This can include the use of adhesives or mechanical fasteners.
Finally, there is a trend towards the use of wider tires with taller sidewalls. This provides a smoother ride and helps to protect the tire from damage.
Key Drivers
There are several key drivers of the retread tire market.
First, the cost savings associated with retreading tires is a major driver of market growth. Retreading a tire can cost up to 60% less than buying a new tire, making it a very attractive option for budget-conscious consumers.
Second, the environmental benefits of retreading tires are also a key driver of market growth. Retreading a tire can reduce its carbon footprint by up to 80%, making it a very attractive option for eco-conscious consumers.
Finally, the safety benefits of retreading tires are also a key driver of market growth. Retreading a tire can improve its traction and grip, making it a safer option for drivers.
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Market Segments
The retread tire market is segmented by type, process, sales channel, and region. By type, the market is classified into passenger, LCV, HCV, and others. Based on the process, it is bifurcated into pre-cure, and mold cure. On the basis of end-user, it is divided into OEM, and independent service providers. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
Key Players
The global retread tire market includes players such as Michelin, Bridgestone, The Goodyear Tire & Rubber Company, Continental AG, MRF, Yokohama Rubber Company, Rosler Tech Innovators, Carloni Tire, JK Tyres, Eastern treads, and others.
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