2025 Polyurethane Tire Industry Trends Report: Long-Term Outlook Through 2034

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How Large Will the Polyurethane Tire Market Size By 2025?
Over the past few years, the polyurethane tire market has seen significant growth. The market, currently valued at $1.48 billion in 2024, is expected to increase to $1.62 billion in 2025 with a compound annual growth rate (CAGR) of 9.4%. Progress in material science, a rise in the requirement for sustainable materials, industrial and material handling equipment growth, benefits in load-bearing capacity, and the expansion of the warehouse and logistics sectors can all be credited for this historical growth period.

How Big Is the Polyurethane Tire Market Size Expected to Grow by 2029?
In the upcoming years, the polyurethane tire market is projected to undergo significant expansion. It is anticipated to reach a market size of $2.32 billion by 2029, with a compound annual growth rate (CAGR) of 9.5%. Factors contributing to this projected growth during the forecast period include the emphasis on creating lightweight and fuel-efficient solutions, the rising popularity of electric vehicles, the advancing understanding of tire recycling, and the tailored solutions offered to meet individual needs. Changing supply chain dynamics and global events also add to this. The forecast period is likely to witness trends such as innovations in tire designs, the integration of technology for smart tires, improvement in elasticity and comfort, formulation advancements in polyurethane, and efforts towards noise reduction.

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Which Key Market Drivers Powering Polyurethane Tire Market Expansion and Growth?
The brisk advancement of the retail and e-commerce sectors are anticipated to fuel the development of the polyurethane tire market in the future. The e-commerce industry encompasses firms and individuals that employ the internet for transaction of goods and services. Owing to the growth trend of online shopping, there has been considerable expansion in the retail and e-commerce sectors, resulting in an augmented number of large-scale warehouses globally. The demand for polyurethane tires on forklifts for movement of goods in these warehouses is soaring. For example, in August 2024, the United States Census Bureau, a governmental agency in the U.S., reported that the retail e-commerce sales in the U.S. for the second quarter of 2024 were about $282.3 billion, showing a rise of 5.3% against the first quarter of 2023. Hence, the accelerated advancement of the retail and e-commerce sectors is propelling the polyurethane tire market's growth.

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Which Fast-Growing Trends Are Poised to Disrupt the Polyurethane Tire Market?
Key players in the polyurethane tires industry are paving the way through the creation of tires that boast enhanced thermal performance, setting them apart in the bustling market. Thermal performance centers around the capacity of a system, gadget, material or part to efficiently manage and dissipate heat. An example is Henkel, a German company yielding adhesives and sealants, who collaborated with 4JET, a firm with expertise in surface treatment methods, in September 2024. Their collaborative efforts yielded a novel process for creating silent tires specifically designed for electric vehicles. This pioneering process overcomes hindrances previously associated with tire noise, thereby amplifying driving comfort and minimizing sound emissions. The silent tires are made possible by leveraging innovative materials and techniques, aiming to enrich the driving experience for electric vehicle users by reduction of noise and elevation of efficiency.

What Are the Emerging Segments in the Polyurethane Tire Market?
The polyurethane tire market covered in this report is segmented -

1) By Type: PPG Polyurethane, PTMEG Polyurethane
2) By Sales Channel: Original Equipment Manufacturer, After market
3) By Application: Forklifts, Overhead Conveyor Systems, Industrial Carts, Railroads, Industrial Washer Systems, Rollforming Machinery, Elevators, Hyperloops

Subsegments:
1) By PPG Polyurethane: Flexible PPG Polyurethane, Rigid PPG Polyurethane
2) By PTMEG Polyurethane: High-Performance PTMEG Polyurethane, Standard PTMEG Polyurethane

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Who Are the Global Leaders in the Polyurethane Tire Market?
Major companies operating in the polyurethane tire market include Amerityre Corporation, Stellana AB, Thombert Inc., Uremet Corporation, TVS Group, Albion Casters, Softex Industrial Products Pvt. Ltd., FallLine Corporation, Satyanarayan Rubber And Plastic Industries, Aleader Tire & Wheel Industrial Co. Ltd., BASF SE, Dow Inc., Saudi Basic Industries Corp, LyondellBasell Industries NV, China National Chemical Corp., Sinopec Group, DuPont de Nemours Inc., Mitsubishi Chemical Holdings Corp., Sumitomo Chemical Co Ltd., Advanced Urethane Technologies Inc., American Urethane Inc., Argonics Inc., Casters of Amarillo Inc., Dura-Belt Inc.

Which are the Top Profitable Regional Markets for the Polyurethane Tire Industry?
Asia-Pacific was the largest region in the polyurethane tire market in 2024. North America was the second largest region in the polyurethane tire market in 2024. The regions covered in the polyurethane tire market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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