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Pulished Date April, 2021
ID: 8361
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Tire Material Market By Type (Elastomers, Reinforcing Fillers, Metal Reinforcements, Plasticizers, Chemicals, and Textile Reinforcements) and by Vehicle Type ( Passenger Cars, Buses, Lightweight Commercial Vehicles (LCV) and Heavy Trucks) and Region( Latin America, North America, Asia Pacific, Europe, Middle East and Africa) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast (2021 – 2026)

Pulished: April, 2021
ID: 8361
Pages: 175

Tire Material Market Size, Share, Trends (2021 - 2026)

The global Tire Material Market was expected to be valued at $ 73.61 billion in 2021 and is predicted to reach $ 93.48 billion by 2026, with a compound annual rate of 6.7% during the foreseen period of 2021 to 2026.

The tire is a flexible, hard rubber lining that attaches to the edge of a wheel. A tire provides traction for the vehicle and serves as a lining for the wheel. The most common form of the rim is pneumatic. The tire consists of an air chamber that maintains the air pressure. Today, tires are designed to form a pressure seal with the rim of the wheel. To develop adequate hardness and flexibility, the rubber must be treated with different chemicals and then gradually heated.

Various rubber compounds are employed in different parts of the tire. The biodegradability of tires has become a major concern for the energy sector. Several environmentalists have emphasized the threat created by misplaced tires. In addition, tires thrown into landfills also contribute to environmental pollution. As a result, the energy sector is pushing for escalated use of biodegradable materials in tire manufacturing. Now, the worldwide tire materials industry is predicted to generate large-scale revenue through best environmental practices.

Recent Developments

  • With changing customer needs and to bring its flagship GLOBE STAR tire to the next generation, GLOBE STAR Wide Tread (WT) was conceptualized and developed by looking at the market and listening to customers.

  • Off-road tire maker Alliance Tire Group (ATG) announced that it launched the Radial OTR range under its Galaxy brand, specially designed to keep up with high-pressure job sites.

Tire Material Market Drivers

Escalated vehicle sales and call for low rolling resistance tires are the most important factors predicted to drive expansion in the tire materials industry. The worldwide industry for tire materials is predicted to grow, and automotive safety becomes a worldwide priority. The use of hydraulic brakes and other motion control technologies in automobiles requires the use of high-performance tires. In addition, the need for containment and traction in vehicles has shifted attention to carbon black, wire, and synthetic rubber for tire manufacturing. The automotive industry has been cautious in testing the quality of the materials employed in tire manufacturing. This factor, together with the expansion of the synthetic rubber industry, has fueled call for tire materials.

The expansion of the automotive industry is a major driver for the tire materials industry. Improved rubber chemistry and level design and growing call from developing countries are also an important driver for the industry. Escalated vehicle sales and call for low rolling resistance tires are the most important factors predicted to drive expansion in the tire materials industry. Population expansion coupled with escalating urbanization are the main drivers of expansion in the automotive industry and thus in the tire materials industry. In addition, the adoption of high-performance tires with superior properties, such as escalated abrasion resistance and low hysteresis, is another important factor that increases the rise of the tire materials industry worldwide. Furthermore, the drastic change of consumers towards road transport due to the limitation of other means of transport, such as airways, waterways, etc., which results in affordable means of transport, exponentially stimulates expansion from the tire materials industry.

Restraints in the Tire Material Market

Constant variations in raw material costs are a key restraint for the global tire material industry.

Opportunities in the Tire Material Market

Worldwide expansion in the automotive industry, escalated sales of construction and mining equipment, and escalated tire consumption worldwide are the main drivers of the tire materials industry. Call for environmentally friendly tire materials is predicted to stimulate the industry for tire materials during the foreseen period. Furthermore, the escalating preference for environmentally friendly tires, flat tires and the like due to escalated strength, light weight and better performance is predicted to create lucrative opportunities for players in the worldwide tire materials industry in the next years.

Challenges in the Tire Material Market

Stringent government road safety rules are a big challenge for the industry. Inconsistent costs for raw materials may hinder the industry expansion. 

Tire Material Market Segmentation as per the latest survey.

Tire Material Market - By Vehicle Type

  • Passenger cars
  • Buses
  • Trucks
  • LCV

The passenger car sector is predicted to be the quickest developing sector in the tire materials industry. The fall in interest rates through banking services and the various programs and subsidies provided by governments to create business units should stimulate vehicle sales worldwide.

Tire Material Market - By Type

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

The elastomer segment represented the largest share of the tire materials industry compared to other materials in 2020, in terms of volume. Elastomers include natural rubber and synthetic rubber. The increase in vehicle sales worldwide due to population expansion and the need for transportation increases the call for tires, which is predicted to indirectly increase during the foreseen period.

Tire Material Market - By Region

  • North America Tire Material Industry includes U.S, Canada.

  • Europe Tire Material Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.

  • Asia Pacific Tire Material Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.

  • Latin America Tire Material Industry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.

  • Middle East & Africa Tire Material Industry includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.

The tire materials industry in the Asia Pacific is predicted to grow at the highest CAGR during the foreseen period, in terms of value and volume. China and India are the main countries contributing to the expansion of the global tire materials industry in the area. The easy availability of raw materials, political and economic stability, well-developed infrastructure, and cheap, skilled labor have led major international automakers to invest in Asia-Pacific. Therefore, all of these factors are predicted to stimulate the tire materials industry in the Asia-Pacific region. Europe accounted for the second leading industry share in 2020 due to the presence of a well-established automotive industry in the region. Furthermore, due to growing environmental concerns and strong R&D, significant investments have been made for the development of eco-friendly tires with improved performance, promoting the call for tire materials.

Tire Material Market Key Players:

The major players operating in the global tire material industry are China Petroleum & Chemical Corporation, Orion Engineered Carbons, Royal Dutch Shell, Chevron Corporation, Nynas AB, PetroChina Company Limited, Exxon Mobil Corporation., SIBUR INTERNATIONAL, Ralson Goodluck Carbon, Longxing Chemical, Phillips, U.S. Zinc., American Zinc Recycling LLC, PPG Industries, Inc, SRF Limited, Umicore SA, TEIJIN ARAMID B.V., Aeolus Tyre Co., Ltd., ATG., Metro Tyre, Australian Tyre Traders., Dun & Bradstreet, Inc., Birla Tyres, Carlisle Companies Inc., DMACK Tyres, Federal Corporation, Multistrada Arah Sarana, PT Tbk., Nokian Tyres Group, Omni United Pte Ltd. Servis Tyres, Shandong Hengfeng Rubber & Plastic Co., Ltd. and many more.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods                          

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                               

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling      

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                       

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 Epidemology                              

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                    

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market                              

5. Market Segmentation                                              

                5.1 Type                              

                                5.1.1 Introduction           

                                5.1.2 Elastomers              

                                5.1.3 Reinforcing Fillers 

                                5.1.4 Metal Reinforcements       

                                5.1.5 Plasticizers              

                                5.1.6 Chemicals

                                5.1.7 Textile Reinforcements     

                                5.1.9 Y-o-Y Growth Analysis, By Type     

                                5.1.10 Market Attractiveness Analysis, By Type 

                                5.1.11 Market Share Analysis, By Type   

                5.2 Vehicle Type                              

                                5.2.1 Introduction           

                                5.2.2 Passenger Cars      

                                5.2.3 Buses        

                                5.2.4 Lightweight Commercial Vehicles (LCV)      

                                5.2.5 Heavy Trucks          

                                5.2.7 Y-o-Y Growth Analysis, By Vehicle Type     

                                5.2.8 Market Attractiveness Analysis, By Appliation         

                                5.2.9 Market Share Analysis, By Vehicle Type     

6. Geographical Analysis                                              

                6.1 Introduction                               

                                6.1.1 Regional Trends    

                                6.1.2 Impact Analysis     

                                6.1.3 Y-o-Y Growth Analysis        

                                                6.1.3.1 By Geographical Area

                                                6.1.3.2 By Product

                                                6.1.3.3 By Type

                                                6.1.3.4 By Application

                                                6.1.3.5 By Indication

                                6.1.4  Market Attractiveness Analysis     

                                                6.1.4.1 By Geographical Area

                                                6.1.4.2 By Product

                                                6.1.4.3 By Type

                                                6.1.4.4 By Application

                                                6.1.4.5 By Indication

                                6.1.5  Market Share Analysis      

                                                6.1.5.1 By Geographical Area

                                                6.1.5.2 By Product

                                                6.1.5.3 By Type

                                                6.1.5.4 By Application

                                                6.1.5.5 By Indication

                6.2 North America                          

                                6.1.1 Introduction           

                                6.1.2 United States         

                                6.1.3 Canada     

                6.3 Europe                         

                                6.2.1 Introduction           

                                6.2.2 U.K             

                                6.2.3 Spain         

                                6.2.4 Germany 

                                6.2.5 Italy            

                                6.2.6 France       

                6.4 Asia-Pacific                 

                                6.3.1 Introduction           

                                6.3.2 China         

                                6.3.3 India          

                                6.3.4 Japan         

                                6.3.5 Australia   

                                6.3.6 South Korea           

                6.5 Latin America                             

                                6.4.1 Introduction           

                                6.4.2 Brazil          

                                6.4.3 Argentina

                                6.4.4 Mexico     

                                6.4.5 Rest of Latin America          

                6.6 Middle East & Africa                               

                                6.5.1 Introduction           

                                6.5.2 Middle-East            

                                6.5.3 Africa         

7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental       

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services              

                                7.2.5 Competitive Rivalry within the Industry     

8. Market Leaders' Analysis                                        

                8.1 Madras Rubber Factory Limited (MRF)                           

                                8.1.1 Overview 

                                8.1.2 Product Analysis   

                                8.1.3 Financial analysis  

                                8.1.4 Recent Developments       

                                8.1.5 SWOT analysis       

                                8.1.6 Analyst View          

                8.2 The Goodyear Tire & Rubber Company                          

                8.3 Chevron Corporation                             

                8.4 Exxon Mobil Corporation                      

                8.5 China Petroleum & Chemical Corporation                     

                8.6 Cabot Corporation                   

                8.7 JSR Corporation                        

                8.8 Thai Carbon Black                     

                8.9 Lanxess                        

                8.10 Bekaert                      

9. Competitive Landscape                                           

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                       

                9.3 Agreements, collaborations and Joint Ventures                         

                9.4 New Product Launches                         

10. Market Outlook and Investment Opportunities                                         

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

  • Global,Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of by type,by vehicle type, along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global Tire Material  Market By Region, From 2021-2026( USD Billion )

  2. Global Tire Material  Market By Type, From 2021-2026( USD Billion )

  3. Global Elastomers Market By Region, From 2021-2026( USD Billion )

  4. Global Reinforcing Fillers Market By Region, From 2021-2026( USD Billion )

  5. Global Metal Reinforcements Market By Region, From 2021-2026( USD Billion )

  6. Global plasticizers Market By Region, From 2021-2026( USD Billion )

  7. Global Chemicals Market By Region, From 2021-2026( USD Billion )

  8. Global Textile Reiforcements Market By Region, From 2021-2026( USD Billion )

  9. Global Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  10. Global Passenger Cars Market By Region, From 2021-2026( USD Billion )

  11. Global Buses Market By Region, From 2021-2026( USD Billion )

  12. Global Lightweight Commerical Vehicles Market By Region, From 2021-2026( USD Billion )

  13. Global Heavy Trucks Market By Region, From 2021-2026( USD Billion )

  14. North America Tire Material  Market By Type, From 2021-2026( USD Billion )

  15. North America Elastomers Market By Region, From 2021-2026( USD Billion )

  16. North America Reinforcing Fillers Market By Region, From 2021-2026( USD Billion )

  17. North America Metal Reinforcements Market By Region, From 2021-2026( USD Billion )

  18. North America plasticizers Market By Region, From 2021-2026( USD Billion )

  19. North America Chemicals Market By Region, From 2021-2026( USD Billion )

  20. North America Textile Reiforcements Market By Region, From 2021-2026( USD Billion )

  21. North America Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  22. North America Passenger Cars Market By Region, From 2021-2026( USD Billion )

  23. North America Buses Market By Region, From 2021-2026( USD Billion )

  24. North America Lightweight Commerical Vehicles Market By Region, From 2021-2026( USD Billion )

  25. North America Heavy Trucks Market By Region, From 2021-2026( USD Billion )

  26. United States Tire Material  Market By Type, From 2021-2026( USD Billion )

  27. United States Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  28. Canada Tire Material  Market By Type, From 2021-2026( USD Billion )

  29. Canada Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  30. Europe Tire Material  Market By Type, From 2021-2026( USD Billion )

  31. Europe Elastomers Market By Region, From 2021-2026( USD Billion )

  32. Europe Reinforcing Fillers Market By Region, From 2021-2026( USD Billion )

  33. Europe Metal Reinforcements Market By Region, From 2021-2026( USD Billion )

  34. Europe plasticizers Market By Region, From 2021-2026( USD Billion )

  35. Europe Chemicals Market By Region, From 2021-2026( USD Billion )

  36. Europe Textile Reiforcements Market By Region, From 2021-2026( USD Billion )

  37. Europe Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  38. Europe Passenger Cars Market By Region, From 2021-2026( USD Billion )

  39. Europe Buses Market By Region, From 2021-2026( USD Billion )

  40. Europe Lightweight Commerical Vehicles Market By Region, From 2021-2026( USD Billion )

  41. Europe Heavy Trucks Market By Region, From 2021-2026( USD Billion )

  42. U.K. Tire Material  Market By Type, From 2021-2026( USD Billion )

  43. U.K. Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  44. Germany Tire Material  Market By Type, From 2021-2026( USD Billion )

  45. Germany Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  46. France Tire Material  Market By Type, From 2021-2026( USD Billion )

  47. France Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  48. Italy Tire Material  Market By Type, From 2021-2026( USD Billion )

  49. Italy Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  50. Spain Tire Material  Market By Type, From 2021-2026( USD Billion )

  51. Spain Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  52. Asia Pacific Tire Material  Market By Type, From 2021-2026( USD Billion )

  53. Asia Pacific Elastomers Market By Region, From 2021-2026( USD Billion )

  54. Asia Pacific Reinforcing Fillers Market By Region, From 2021-2026( USD Billion )

  55. Asia Pacific Metal Reinforcements Market By Region, From 2021-2026( USD Billion )

  56. Asia Pacific plasticizers Market By Region, From 2021-2026( USD Billion )

  57. Asia Pacific Chemicals Market By Region, From 2021-2026( USD Billion )

  58. Asia Pacific Textile Reiforcements Market By Region, From 2021-2026( USD Billion )

  59. Asia Pacific Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  60. Asia Pacific Passenger Cars Market By Region, From 2021-2026( USD Billion )

  61. Asia Pacific Buses Market By Region, From 2021-2026( USD Billion )

  62. Asia Pacific Lightweight Commerical Vehicles Market By Region, From 2021-2026( USD Billion )

  63. Asia Pacific Heavy Trucks Market By Region, From 2021-2026( USD Billion )

  64. Japan Tire Material  Market By Type, From 2021-2026( USD Billion )

  65. Japan Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  66. China Tire Material  Market By Type, From 2021-2026( USD Billion )

  67. China Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  68. India Tire Material  Market By Type, From 2021-2026( USD Billion )

  69. India Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  70. Australia Tire Material  Market By Type, From 2021-2026( USD Billion )

  71. Australia Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  72. South Korea Tire Material  Market By Type, From 2021-2026( USD Billion )

  73. South Korea Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  74. Latin America Tire Material  Market By Type, From 2021-2026( USD Billion )

  75. Latin America Elastomers Market By Region, From 2021-2026( USD Billion )

  76. Latin America Reinforcing Fillers Market By Region, From 2021-2026( USD Billion )

  77. Latin America Metal Reinforcements Market By Region, From 2021-2026( USD Billion )

  78. Latin America plasticizers Market By Region, From 2021-2026( USD Billion )

  79. Latin America Chemicals Market By Region, From 2021-2026( USD Billion )

  80. Latin America Textile Reiforcements Market By Region, From 2021-2026( USD Billion )

  81. Latin America Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  82. Latin America Passenger Cars Market By Region, From 2021-2026( USD Billion )

  83. Latin America Buses Market By Region, From 2021-2026( USD Billion )

  84. Latin America Lightweight Commerical Vehicles Market By Region, From 2021-2026( USD Billion )

  85. Latin America Heavy Trucks Market By Region, From 2021-2026( USD Billion )

  86. Brazil Tire Material  Market By Type, From 2021-2026( USD Billion )

  87. Brazil Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  88. Argentina Tire Material  Market By Type, From 2021-2026( USD Billion )

  89. Argentina Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  90. Mexico Tire Material  Market By Type, From 2021-2026( USD Billion )

  91. Mexico Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  92. Rest of Latin America Tire Material  Market By Type, From 2021-2026( USD Billion )

  93. Rest of Latin America Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  94. Middle East and Africa Tire Material  Market By Type, From 2021-2026( USD Billion )

  95. Middle East and Africa Elastomers Market By Region, From 2021-2026( USD Billion )

  96. Middle East and Africa Reinforcing Fillers Market By Region, From 2021-2026( USD Billion )

  97. Middle East and Africa Metal Reinforcements Market By Region, From 2021-2026( USD Billion )

  98. Middle East and Africa plasticizers Market By Region, From 2021-2026( USD Billion )

  99. Middle East and Africa Chemicals Market By Region, From 2021-2026( USD Billion )

  100. Middle East and Africa Textile Reiforcements Market By Region, From 2021-2026( USD Billion )

  101. Middle East and Africa Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  102. Middle East and Africa Passenger Cars Market By Region, From 2021-2026( USD Billion )

  103. Middle East and Africa Buses Market By Region, From 2021-2026( USD Billion )

  104. Middle East and Africa Lightweight Commerical Vehicles Market By Region, From 2021-2026( USD Billion )

  105. Middle East and Africa Heavy Trucks Market By Region, From 2021-2026( USD Billion )

  106. Middle East Tire Material  Market By Type, From 2021-2026( USD Billion )

  107. Middle East Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

  108. Africa Tire Material  Market By Type, From 2021-2026( USD Billion )

  109. Africa Tire Material  Market By Vehicle Type, From 2021-2026( USD Billion )

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