Press release
Tire Material Global Market Report 2025: Prodigious Growth Fueled by Enhanced Performance and Sustainable Materials
Tire Material Global Market Report
The Tire Material Market continues to experience significant evolution and growth, with key trends focusing on sustainability and advanced technology.
What Is The Projected Market Size Of The Global Tire Material Global Market Report 2025 And Its Growth Rate?
•The robust growth of the tire material market will see the market size escalate from $89.28 billion in 2024 to $94.21 billion in 2025 with a compound annual growth rate (CAGR) of 5.5%.
•Historic growth can be attributed to the evolution of tread compounds, the discovery of silica compounds, demand for high-performance tires, synthetic rubber development, and shift to radial tires.
•Projected growth in the next few years will see the market size boom to $119.49 billion in 2029 with a compound annual growth rate (CAGR) of 6.1%, driven by movements towards 3D printing and customization, demand for fuel-efficient tires, eco-friendly materials, tire recycling, and more focus on sustainable materials.
What Is Driving The Growth In The Tire Material Global Market Report 2025?
An influx in motor vehicle production is acting as a catalyst for tire material market growth. Motor vehicles, including any vehicle, tractor-trailer, or semi-trailer that is mechanically driven or towed for goods transportation on roadways, rely on tires for traction, acceleration, braking, and limiting vibration transmission to the vehicle body. Reports indicate that 85.4 million motor vehicles were produced globally in 2022, a 5.7% surge from 2021. The International Organization of Motor Vehicle Manufacturers also reported a rise in car and commercial vehicle production from 80.14 million in 2021 to 85.02 million in 2022. This surge in motor vehicle production fuels the growth of the tire material market.
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Who Are the Key Players Driving Tire Material Global Market Report 2025 Growth?
•Orion Engineered Carbons LLC
•SIBUR International GmbH
•SRF LIMITED
•Exxon Mobil Corporation
•Teijin Aramid B.V.
•Birla Carbon Black Limited
•Metro Tyre & Industries Limited
•Federal Corporation Sdn Bhd
•Nokian Tyres PLC
•Bekaert Industries India Limited
•Cabot Corporation
•JSR Corporation
•Kuraray Co. Ltd.
•LANXESS AG
•Phillips Carbon Black Limited
•PetroChina Company Limited
•Solvay SA
•Continental AG
•The Goodyear Tire & Rubber Company
•Michelin & Cie. SCA
•Bridgestone Corporation
•Sumitomo Rubber Industries Ltd.
•The Yokohama Rubber Co. Ltd.
•Hankook Tire & Technology Co. Ltd.
What Are The Key Trends In The Tire Material Global Market Report 2025?
Key trends in the tire material market are:
•Use of sustainable and eco-friendly materials
•Advancements in nanotechnology
•HIgh-performance tire development
•Shift towards lightweight materials
•Trend towards electric and hybrid vehicles.
What Are The Segments Of The Global Tire Material Global Market Report 2025?
The tire material market report covers segments like:
•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
Which Region Leads The Tire Material Global Market Report 2025?
The Asia-Pacific region dominated the tire material market share in 2024, and it is predicted to be the fastest-growing region in the forecast period. The tire material market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Tire Material Global Market Report 2025 Global Market Report?
- Market Size Analysis: Analyze the Tire Material Global Market Report 2025 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Tire Material Global Market Report 2025 for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Tire Material Global Market Report 2025 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Tire Material Global Market Report 2025.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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