Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

At 4.2% CAGR, Global Tire Material Market Size & Share to Surpass USD 98.11 Billion by 2028 | Industry Trends, Growth, Value, Opportunities, Statistics, Manufacturers Analysis & Forecast Report by Zion Market Research

This image opens in the lightbox

News provided by

Zion Market Research

15 Jun, 2022, 15:30 GMT

Share this article

Share toX

Share this article

Share toX

NEW YORK, June 15, 2022 /PRNewswire/ -- As per Zion Market Research study, The global tire material market was valued at about USD 76.21 billion in 2021 and is expected to increase to around USD 98.11 billion by 2028, with a CAGR of roughly 4.3 percent over the forecast period. The study examines the market's drivers, constraints, and challenges, as well as the impact they have on the demand throughout the forecast period. The study also looks into the new potential in the tire material market.

Key Industry Insights & Finding of the Tire Material Market Reports:

  • As per the analysis shared by our research analyst, the Tire Material Market is expected to grow annually at a CAGR of around 4.2 % (2022-2028).
  • Through the primary research, it was established that the Tire Material Market was valued approximately USD 76.21 Billion in 2021 and is projected to reach to roughly USD 98.11 Billion by 2028.
  • Changing standards of living and lifestyles have increased the use of high-performance and branded tires, which is likely to have a favorable influence on the Asia Pacific tire material market.
  • The growing number of vehicle users will drive growth in both the aftermarket and OEM segments, as well as the tire material market.
  • China is the world's largest automobile market, according to the International Trade Administration, with the Chinese government anticipating car manufacturing to reach 35 million by 2025.

Zion Market Research published the latest report titled as  "Tire Material Market By Type (Elastomers, Reinforcing Fillers, Plasticizers, Chemicals, Metal Reinforcements, And Textile Reinforcements), By Vehicle Type (Passenger Cars, Buses, Trucks, And LCV), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028." into their research database.

Tire Material Market: Overview

A tire is an essential element of a vehicle since it matches a footprint that is designed to match the vehicle's weight. The majority of tires, including those on bicycles and cars, are filled pneumatically, creating a tough cushion which engrosses shock when the tire rolls over tough terrain. Carbon black, steel wires, fabric, natural rubber, synthetic rubber, and other chemical materials are used in the manufacturing of tires. Styrene-butadiene and butadiene rubber are the two most commonly used synthetic rubber polymers in tire manufacture.

Get a Free Sample Report with All Related Graphs & Charts (with COVID 19 Impact Analysis): https://www.zionmarketresearch.com/sample/tire-material-market

Our Free Sample Report Includes:

  • 2022 Updated Report Introduction, Overview, and In-depth industry analysis
  • COVID-19 Pandemic Outbreak Impact Analysis Included
  • 166 + Pages Research Report (Inclusion of Updated Research)
  • Provide Chapter-wise guidance on Request
  • 2022 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
  • Includes Updated List of tables & figures
  • Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
  • Zion Market Research methodology

Industry Dynamics:

Tire Material Market: Growth Drivers

  • Rising manufacture of automotive to spur the market growth.

Increased customer preference for comfortable travel and the incorporation of new automobiles has resulted in a major increase in automotive vehicle sales, including commercial cars and passenger vehicles. As per the India Brand Equity Foundation, in 2021, 0.56 million commercial vehicles, 15.11 million two-wheelers, and 2.71 million passenger cars were sold in India. Furthermore, the rapidly expanding automobile resale market, as well as increased tires replacement and retracting operations in older cars, are boosting market development. In addition to this, an increase in disposable income in emerging countries, rising spending power, and rise in tourism have led to increase in sales of automotive. Thus, key players are majorly emphasizing the production of automotive which in turn is driving the global tire material market growth.

Tire Material Market: Restraints

  • Fluctuating prices of raw materials hamper the market growth.

The prime factor that is impeding the growth of the market is the volatile cost of the raw material required for the manufacture of tires. In addition to this, the rise in competition, high energy & operating cost, and market disagreement with globalization are some of the additional factors that may hinder the market growth. 

Directly Purchase a Copy of the Report @ https://www.zionmarketresearch.com/buynow/su/tire-material-market

Global Tire Material Market: Opportunities

  • Growing inclination towards use of biodegradable materials to fuel the market during the forecast period.

Green tires are manufactured from recyclable materials such as nylon rubber using a low-energy technique. Tires are traditionally comprised of rubber, however, with rising energy concerns, tires are increasingly being produced from –eco-friendly materials such as resins and plasticizers. Such ecologically sustainable raw materials are increasingly being preferred over traditional products due to benefits including being lighter than traditional items, resulting in a drop in the total weight of the vehicle. This also requires lesser fuel and reduces rolling resistance. Green tires are predicted to rise at a profitable pace over the forecast period, owing to benefits such as retractable tires and long life. Moreover, as energy costs rise, government restrictions tighten, and customers become more environmentally conscious about fuel use, the usage of the green tire in automobiles will rise throughout the projection period.

Global Tire Material Market: Challenges

  • The environmental consequences of tires may pose a challenge to market growth.

The massive amount of solid trash generated by the tires is a big problem. Old tire consists of heavy metals and compounds that leach into the environment as they degrade, a process called leaching. Some of these substances have been shown to be carcinogenic and mutagenic. The pollution of the soil is another threat posed by leaching. The toxic chemicals discharged into the environment can swiftly poison the soil around such old tires. Groundwater is also at danger of contamination. Furthermore, if these chemicals contaminate the water in the soil, the toxic water will come into touch with animals and humans, putting their lives in jeopardy. Moreover, one of the major concerns with the discarded tires is the elevated danger of fire. Nearly half of the recycled waste tires are utilized for making fuel. Tire fires, on the other hand, will be tougher to cope with and extinguish. All such factors act as major challenges to the global tire material market growth.

Global Tire Material Market: Segmentation

  • The global tire material market is divided based on type, vehicle type, and region.

Based on the type, the market is characterized by plasticizers, reinforcing fillers, elastomers, textile reinforcements, metal reinforcements, and chemicals. The vehicle type segment is split into LCV, trucks, buses, and passenger cars.

Get More Insight before Buying@ : https://www.zionmarketresearch.com/inquiry/tire-material-market

List of Key Players of Tire Material Market:

  • JSR Corporation
  • Exxon Mobil Corporation
  • Cabot Corporation
  • Birla Carbon
  • Bekaert
  • Sinopec
  • PetroChina Company Limited
  • Orion
  • LANXESS
  • and Kuraray Co.Ltd.

Key questions answered in this report:

  • What are the growth rate forecast and market size for Tire Material Market?
  • What are the key driving factors propelling the Tire Material Market forward?
  • What are the most important companies in the Tire Material Market Industry?
  • What segments does the Tire Material Market cover?
  • How can I receive a free copy of the Tire Material Market sample report and company profiles?

Report Scope:

Report Attribute

Details

Market size value in 2021

USD 76.21 Billion

Revenue forecast in 2028

USD 98.11 Billion

Growth Rate

CAGR of almost 4.3 % 2022-2028

Base Year

2020

Historic Years

2016 - 2021

Forecast Years

2022 - 2028

Segments Covered

By Product Type, By Application, and By End Use

Forecast Units

Value (USD Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2022 to 2028

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Companies Covered

JSR Corporation, Exxon Mobil Corporation, Cabot Corporation, Birla Carbon, Bekaert, Sinopec, PetroChina Company Limited, Orion, LANXESS, and Kuraray Co., Ltd., among others.

Report Coverage

Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Customization Scope

Avail customized purchase options to meet your exact research needs.  

https://www.zionmarketresearch.com/custom/3380

 Free Brochure: https://www.zionmarketresearch.com/requestbrochure/tire-material-market

Recent Developments:

  • In January 2022, the Goodyear Tire & Rubber Company unveiled a demonstration tire that contains 70% sustainable materials and has industry-leading technologies. Thirteen featured ingredients are spread over nine distinct tire components in the 70 percent sustainable-material tire.
  • In February 2021, Michelin revealed that it would partner with Enviro to build the world's first tire recycling facility, which uses proprietary technology to recover gas, steel, pyrolysis oil, carbon black, and other commodities.

Regional Dominance:

  • Asia Pacific to hold the maximum share in the market.

In the global tire material market, Asia Pacific is likely to hold the highest share during the forecast period. Changing standards of living and lifestyles have increased the use of high-performance and branded tires, which is likely to have a favorable influence on the Asia Pacific tire material market. Further, the growing number of vehicle users will drive growth in both the aftermarket and OEM segments, as well as the tire material market. China is the world's largest automobile market, according to the International Trade Administration, with the Chinese government anticipating car manufacturing to reach 35 million by 2025. North America and Europe are also estimated to grow at a healthy growth rate during the forecast period.

Global Tire Material Market is segmented as follows:

Tire Material Market: By Type Outlook (2022-2028)

  • Elastomers
  • Reinforcing Fillers
  • Plasticizers
  • Chemicals
  • Metal Reinforcements
  • Textile Reinforcements

Tire Material Market: By Vehicle Type Outlook (2022-2028)

  • Passenger Cars
  • Buses
  • Trucks
  • LCV

Tire Material Market: By Region Outlook (2022-2028)

North America

  • The U.S.
  • Canada

Europe

  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa

  • GCC
  • South Africa
  • Rest of Middle East & Africa

Press Release For Tire Material Market: https://www.zionmarketresearch.com/news/global-tire-material-market

Browse Other Related Research Reports from Zion Market Research

  • Smart Material Market - Global Industry Analysis: The global smart material market was worth around USD 54.7 billion in 2021 and is estimated to grow to about USD 128.9 billion by 2028, with a compound annual growth rate (CAGR) of approximately 13.6 percent over the forecast period.
  • Survival Tools Market - Global Industry Analysis: The global survival tools market is expected to spur significantly from $1159.5 million in 2021 to $2284 million in 2028. The market is likely to rise with a healthy annual compound rate of 7.2% during the forecast period.
  • Permanent Magnet Motor Market - Global Industry Analysis: The global permanent magnet motor was worth around USD 41.5 billion in 2021 and is estimated to grow to about USD 67.3 billion by 2028, with a compound annual growth rate (CAGR) of approximately 9.8 percent over the forecast period.

Browse through Zion Market Research's coverage of the Global Heavy Industry Industry

Follow Us on: LinkedIn | Twitter | Facebook

About Us

Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client's needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:

Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com/
Blog - https://zmrblog.com/

Logo: https://mma.prnewswire.com/media/1605489/Zion_Market_Research_Logo.jpg

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.