Tire Material Market Share Evolution and Market Growth Trends 2024 - 2031

Executive Summary

The Tire Material Market research reports provide a comprehensive analysis of the market conditions, trends, and geographical spread. The market is expected to grow at a CAGR of % during the forecasted period.

The market is witnessing significant growth due to the increasing demand for tires in automotive industries worldwide. The key market trends driving the growth of the tire material market include advancements in tire technology, the growing automotive industry, and the increasing focus on reducing carbon emissions.

In North America, the tire material market is driven by the presence of major tire manufacturers and the growing demand for high-performance tires. In Europe, the market is fueled by stringent regulations related to tire labeling and recycling. In Asia-Pacific, the market is growing rapidly due to the increasing automotive production and rising investments in the tire manufacturing sector.

The USA is a major market for tire materials, with a strong presence of key players and a high demand for replacement tires. China is also a significant market, driven by the rapid growth of the automotive industry and the increasing focus on environmental sustainability.

Overall, the tire material market is expected to witness steady growth during the forecasted period, with key market players focusing on innovation, product differentiation, and strategic partnerships to gain a competitive edge in the market.

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Market Segmentation:

This Tire Material Market is further classified into Overview, Deployment, Application, and Region. 

In terms of Components, Tire Material Market is segmented into:

• Lanxess
• Cabot Corporation
• Phillips Carbon Black Limited
• The Goodyear Tire and Rubber Company
• Sinopec
• Kurarey
• JSR Corporation
• Thai Carbon Black Public Company Limited (Birla Carbon)
• Orion Engineered Carbons S.A.
• Royal Dutch Shell
• Chevron Corporation
• Nynas AB
• Petrochina
• Exxonmobil
• Sibur
• Ralson Goodluck Carbon
• Longxing Chemical
• Phillips 66 Company
• U.S. Zinc
• Horsehead Corporation
• Umicore SA
• SRF Limited
• PPG Industries

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The Tire Material Market Analysis by types is segmented into:

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

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The Tire Material Market Industry Research by Application is segmented into:

• Passenger Cars
• Commercial Vehicle
• Others

In terms of Region, the Tire Material Market Players available by Region are:

North America:

• United States


• Canada

Europe:

• Germany


• France


• U.K.


• Italy


• Russia

Asia-Pacific:

• China


• Japan


• South Korea


• India


• Australia


• China Taiwan


• Indonesia


• Thailand


• Malaysia

Latin America:

• Mexico


• Brazil


• Argentina Korea


• Colombia

Middle East & Africa:

• Turkey


• Saudi


• Arabia


• UAE


• Korea

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Key Drivers and Barriers in the Tire Material Market

Key drivers in the Tire Material market include the rising demand for automobiles, increasing focus on sustainability, and technological advancements in tire manufacturing. Barriers to the market growth include fluctuating raw material prices, stringent government regulations, and intense competition among key players. Challenges faced in the market include the need for constant innovation to meet changing consumer demands, environmental concerns related to tire disposal, and the impact of economic slowdowns on the automotive industry. Additionally, the emergence of alternative fuel vehicles poses a threat to traditional tire materials.

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Competitive Landscape

Lanxess is a leading global specialty chemicals company with a focus on developing tire materials. The company has a long history of innovation and excellence in the market, offering a wide range of products for tire manufacturing. Lanxess has experienced significant market growth in recent years due to the increasing demand for high-quality tires in the automotive industry. The company has a strong presence in key markets around the world and continues to expand its product portfolio to meet the evolving needs of its customers.

Phillips Carbon Black Limited is one of the largest carbon black manufacturers in India, with a strong presence in the global tire material market. The company has a history of delivering high-quality products and has seen steady market growth in recent years. Phillips Carbon Black Limited has a diverse product portfolio and serves a wide range of industries beyond tire manufacturing.

The Goodyear Tire and Rubber Company is a well-known player in the tire industry, offering a wide range of products for consumers and commercial applications. The company has a long history of innovation and has consistently ranked among the top tire manufacturers globally. Goodyear has experienced steady market growth and continues to invest in research and development to stay ahead of competitors.

In terms of sales revenue, Lanxess reported approximately $ billion in 2020, while Goodyear recorded sales of around $12.3 billion. Phillips Carbon Black Limited's sales revenue for the same period was approximately $800 million. These figures reflect the strong market positions of these companies in the competitive tire material market.

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