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Tire Material Global Market Worth $103.15 Billion at a CAGR of 4.9% By 2027 | Key Players: PPG Industries, Inc., Koninklijke Philips N.V., Teijin Aramid B.V., Umicore, Heuver.com
The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032The Business Research Company's Tire Material Global Market Report 2023 identifies an increase in the production of motor vehicles is expected to propel the growth of the tire materials market going forward. A motor vehicle refers to any vehicle, tractor-trailer, or semi-trailer that is driven or towed by a mechanical method and is used to convey goods on roadways.
The global tire material market is expected to grow from $80.67 billion in 2022 to $85.26 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global tire material market is expected to reach $103.15 billion in 2027 at a CAGR of 4.9%.
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Major players in the market are Orion Engineered Carbons, SIBUR International GmbH, SRF LIMITED, Nynas AB, Exxon Mobil Corporation, PPG Industries, Inc., Koninklijke Philips N.V., Teijin Aramid B.V., Umicore, Heuver.com, ATG COGNIZANT, Metro Tyre, Federal Corp, Carlisle Companies lnc, and Nokian Tyres plc.
Growing popularity for eco-friendly tire materials is the key trend gaining popularity in the tire material market. Eco-friendly products typically contain recycled material gathered from a natural source. Major companies operating in the tire material market are focused on developing new eco-friendly tire product to strengthen their position.
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The Rear-View Mirror market is segmented -
• By Type: Elastomers, Reinforcing Fillers, Plasticizers, Chemicals, Metal Reinforcements, Textile Reinforcements, Other Types
• By Tire Types: Solid Tire, Pneumatic Tire, Retreated Tires
• By Vehicle Type: Two Wheelers, Rickshaws, Passenger Cars, Trucks, Buses, Utility Vehicles, Other Vehicle Types,,, By Application: Passenger Cars, Commercial Vehicles
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Tire Material market.
The Business Research Company's "Global Tire Material Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Tire Material Market Include:
1. Executive Summary
2. Tire Material Market Characteristics
3. Tire Material Market Trends And Strategies
4. Tire Material Market - Macro Economic Scenario
5. Tire Material Market Size And Growth
.....
26. Africa Tire Material Market
27. Tire Material Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Tire Material Market
29. Tire Material Market Future Outlook and Potential Analysis
30. Appendix
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