Global Tire Material Market Projected to Reach $85.26 Billion in 2023, Driven by Rising Vehicle Production

DUBLIN, Aug. 23, 2023 /PRNewswire/ — The “Tire Material Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.

The global tire material market, valued at $80.67 billion in 2022, is anticipated to burgeon to $85.26 billion in 2023, reflecting an impressive Compound Annual Growth Rate (CAGR) of 5.7%. The market is poised to reach $103.15 billion by 2027, driven by a CAGR of 4.9%.

Key Market Players in Focus

Key players in the tire material market include industry frontrunners:

  • Orion Engineered Carbons
  • SIBUR International GmbH
  • SRF LIMITED
  • Nynas AB
  • Exxon Mobil Corporation
  • PPG Industries, Inc.
  • Koninklijke Philips N.V.
  • Teijin Aramid B.V.
  • Umicore
  • Heuver.com
  • ATG COGNIZANT
  • Metro Tyre
  • Federal Corp
  • Carlisle Companies Inc.
  • Nokian Tyres plc.

Reasons to Choose This Report

  • Gain a truly global perspective with comprehensive coverage spanning 50+ geographies.
  • Understand the COVID-19 impact and market response as the pandemic subsides.
  • Assess the RussiaUkraine conflict’s impact on agriculture, energy, and mineral supply, and its market implications.
  • Measure the influence of global inflation on market growth.
  • Formulate strategies based on localized data and analysis.
  • Identify investment-worthy growth segments.
  • Outpace rivals using predictive data and market trends.
  • Grasp customer dynamics via the latest market shares.
  • Benchmark performance against key competitors.
  • Strengthen presentations with reliable, high-quality data and analysis.

Understanding Tire Material

  • Tires are crafted from synthetic rubber, natural rubber, cloth, steel cables, carbon black, and chemical compounds.
  • Tire material categories encompass elastomers, reinforcing fillers, plasticizers, chemicals, metal reinforcements, textile reinforcements, and more.
  • Tire variations include solid tires, pneumatic tires, and retreaded tires.
  • Used in diverse vehicles such as two-wheelers, rickshaws, passenger cars, trucks, buses, and utility vehicles.

Emerging Trends: Eco-Friendly Tire Materials

  • Eco-friendly tire materials gain traction, incorporating recycled materials for sustainability.
  • Leading entities focus on eco-friendly tire development, bolstering market presence.

Regional Dynamics: Asia-Pacific Takes the Lead

  • Asia-Pacific dominates the market and is poised for rapid growth.
  • Regions covered: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Driving Force: Vehicle Production Increase

  • Rising motor vehicle production propels tire material market growth.
  • Tires provide traction, braking, and vibration damping for vehicles.

Market Segmentation and Player Landscape

Market Segmentation:

  • Type:
    • Wireless Door Phone
    • Wired Door Phone
  • End User:
    • Residential
    • Non-Residential

Market Players:

  • Panasonic Corporation
  • Honeywell International Inc.
  • ABB Ltd.
  • Aiphone
  • VTech
  • FERMAX Global
  • Zmodo
  • Legrand
  • SkyBell Technologies, Inc.
  • 1byone, Inc.

Conclusion: Insights That Drive Success

  • Navigate the transformative journey of the tire material market.
  • Witness growth from $80.67 billion in 2022 to $85.26 billion in 2023.
  • Harness predictive insights, trends, and growth segments.
  • Outshine competitors and fortify presentations with reliable data.

Key Topics Covered:

1. Executive Summary

2. Tire Material Market Characteristics

3. Tire Material Market Trends And Strategies

4. Tire Material Market – Macro Economic Scenario

4.1. COVID-19 Impact On Tire Material Market

4.2. Ukraine-Russia War Impact On Tire Material Market

4.3. Impact Of High Inflation On Tire Material Market

5. Tire Material Market Size And Growth

5.1. Global Tire Material Historic Market, 2017-2022, $ Billion

5.1.1. Drivers Of The Market

5.1.2. Restraints On The Market

5.2. Global Tire Material Forecast Market, 2022-2027F, 2032F, $ Billion

5.2.1. Drivers Of The Market

5.2.2. Restraints On the Market

6. Tire Material Market Segmentation

6.1. Global Tire Material Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

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

6.2. Global Tire Material Market, Segmentation By Tire Types, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Solid Tire
  • Pneumatic Tire
  • Retreated Tires

6.3. Global Tire Material Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Two Wheelers
  • Rickshaws
  • Passenger Cars
  • Trucks
  • Buses
  • Utility Vehicles
  • Other Vehicle Types

6.4. Global Tire Material Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Passenger Cars
  • Commercial Vehicles

7. Tire Material Market Regional And Country Analysis

7.1. Global Tire Material Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

7.2. Global Tire Material Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/hvhy0c

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