Sustainable Tire Materials Market Report Latest Trends and Future Opportunities Analysis

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Sustainable Tire Materials Market- (By Type of Material (Rubber (Natural, Recycled), Sustainable Carbon Black, Silica, Others), By Propulsion Type (Internal Combustion Engine Vehicles, Electric Vehicles), By Vehicle Type, (Passenger Vehicles, Commercial Vehicles), By Tire Structure (Radial, Bias), By Sales Channel (OEMs, Aftermarket)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Sustainable Tire Materials Market Size is valued at USD 48.47 Mn in 2022 and is predicted to reach USD 379.16 Mn by the year 2031 at a 29.63 % CAGR during the forecast period for 2024-2031.

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Eco-friendly tires incorporate innovative materials such as silica, silane, and advanced resins to enhance safety, performance, and sustainability. These materials are firmly integrated into the tread block, ensuring better road grip during wet conditions while also improving fuel efficiency by reducing rolling resistance. The inclusion of silica-based compounds enhances steering precision and responsiveness, making these tires highly effective even in challenging weather conditions, including icy roads.

List of Prominent Players in the Sustainable Tire Materials Market:
• Evonik Industries AG
• Solvay
• PPG Industries, Inc.
• LDC-KOREA CO., LTD.
• CONTEC
• Black Bear Carbon B.V.
• GRP LTD.
• SNR Reclamations Pvt. Ltd.
• Genan Holding A/S
• Lehigh Technologies
• The Goodyear Tire & Rubber Company
• Michelin
• Bridgestone Corporation
• Nokian Tyres plc
• Continental AG

Market Dynamics:
Drivers-
The increasing levels of carbon emissions from vehicles have become a major environmental concern. Since automobiles heavily rely on fossil fuels, they contribute significantly to air pollution. Among the key factors affecting vehicle emissions, tire composition and performance play a crucial role. In response, governments worldwide are enforcing strict emission regulations to mitigate the environmental impact of the automotive sector, driving demand for sustainable tire solutions.

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Challenges:
One of the biggest environmental threats posed by tires is the vast amount of solid waste they generate. Old, discarded tires contain harmful chemicals and heavy metals that gradually leach into the environment, contaminating soil and water sources. Some of these toxic compounds have been linked to mutagenic and carcinogenic effects, raising concerns about their impact on human and animal health. Additionally, improper tire disposal increases the risk of fires, posing severe ecological hazards.

Regional Trends:
Europe is expected to hold a significant share of the sustainable tire market in the coming years. Consumers in the region show a strong preference for eco-friendly, durable products, including tires made from renewable materials. Growing environmental awareness and a shift toward sustainable living have fueled demand for green tire alternatives. To further promote sustainability, European governments have introduced incentives and regulations aimed at encouraging environmentally responsible practices in the automotive industry. These initiatives include:

Recent Developments:
• In January 2023, Solvay launched bio-circular silica in Europe and intended to extend into North America. The Solvay Group may gradually replace its existing Zeosil portfolio with circular HDS in the coming years, delivering a circular solution for tires that may boost the usage of sustainable raw materials and reduce the tire industry's carbon impact.
• In June 2022, Evonik came out with a new line of environmentally friendly liquid polybutadienes. It was found that making this new line of products with butadiene that was made in a way that didn't harm the environment cut the amount of fossil raw materials used by up to 99.9%. With the POLYVEST eCO line, Evonik met the needs of a market that cares more and more about being green.

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Segmentation of Sustainable Tire Materials Market-
By Type of Material-
• Rubber
o Natural
o Recycled
• Sustainable Carbon Black
• Silica
• Others
By Propulsion Type-
• Internal Combustion Engine Vehicles
• Electric Vehicles
By Vehicle Type-
• Passenger Vehicles
• Commercial Vehicles
By Tire Structure-
• Radial
• Bias
By Sales Channel-
• OEMs
• Aftermarket
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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This release was published on openPR.