Tire Material Market Research Report - Global Forecast till 2027

Tire Material Market: Information by Type (Elastomers, Reinforcing Fillers, Plasticizers, Chemicals, Metal Reinforcements and Textile Reinforcements), Application (Light-Weight Commercial Vehicles [LCVs], Passenger Cars [PCs] and Heavyweight Commercial Vehicles [HCVs]) and Region (Asia-Pacific, North America, Europe, Latin America and Middle East & Africa) - Forecast till 2027

ID: MRFR/CnM/6814-HCR | February, 2021 | Region : Global

Market Synopsis


Global Tire Material Market is projected to register a CAGR of 4.1% during the forecast period. The global market, in terms of value, was estimated USD 76.9 billion in 2018.


A tire is an assembly of various materials in an appropriate proportion, encircling the wheel’s rim to transfer the load of the vehicle to the ground. The materials used to manufacture tires are called tire materials. Some of the commonly used tire materials are synthetic rubber, carbon black, silica, and others. The materials to be used are selected based on the type of vehicle and the weight of goods to be transported. For instance, carbon black is widely used as a filler to enhance the mechanical strength and durability for truck tread applications.


The global demand for tire material market is primarily driven by the expanding tire industry. The sales of automobiles directly affect the demand for tires in automotive industry. Increasing population coupled with rising urbanization are the prime drivers for the growth of the automotive industry and thus, tire material market. In addition, the adoption of high-performance tires with superior properties such as higher abrasion resistance and low hysteresis is another important factor augmenting the tire material market growth worldwide.


Additionally, the radical consumer shift towards road transportation owing to limitation of other means of transport such as air ways, water ways etc. resulting in affordable means of transport is boosting the tire material market growth exponentially.


Some of the key trends observed in global tire material market is the increasing initiatives of recycling scrap tires to reduce carbon foot print. For instance, rubberized asphalt is used for the construction of pavements, turfs and others thus increases the life span of the surface.


Furthermore, growing preference for eco tires, flat run tires, and others owing to greater strength, light weight, and better performance is expected to create lucrative opportunities for the players operating in the global tire material market in the coming years.


However, supply shortage of carbon black will hamper the global tire materials market.


Global Tire Material Market Share by Type, 2018 (%)  Tire Material Market


Source: MRFR Analysis


Regional Analysis


The global tire material market is analyzed for five major regions, namely– North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa.


Asia-Pacific had a dominant tire material market share in 2018 and is projected to register the highest CAGR during the forecast period owing to the rapidly increasing urbanization and industrialization in the region. Expanding automotive industry on account of increasing population coupled with increasing per capita disposable income is driving the regional market growth. China is the leading country followed by Japan, India and other Southeast Asian countries, owing to the increasing sales of vehicles. According to China Association of Automobile Manufacturers (CAAM) as of April 2019, the sales and production of commercial vehicles reached 5,01,000 and 4,68,000 units respectively and registered a significant growth of 91% and 73.8% than in the month of March. Thus, driving the growth of tire raw material market in the region.


Europe accounted for the second-largest market share in 2018 owing to the presence of well-established automotive industry in the region. In addition, on the account of rising environmental concerns and robust R&D, significant investments have been made for the development of eco-tires with improved performance characteristics, which thus drives the demand for tire materials. Germany is the leading country in the region catering the demand of various international automobile markets across the globe. Furthermore, France, Russia and other European countries are propelling the regional tire material market growth.


The North American region is expected to showcase considerable growth during the forecast period owing to the largest roadway network across the globe coupled with the adoption of improved tire technology to produce eco-friendly tires.


The market in Latin America and the Middle East & Africa are expected to register healthy CAGR during the review period on account of growing automotive industry coupled with changing living standards of the customers in the region.


Segmentation


The global tire material market has been segmented by type, application, and region.


Based on type, the market has been classified into elastomers, silica, reinforcing fillers, plasticizers, chemicals, metal reinforcements, and textile reinforcements.


Based on application, the tire material market has been segmented into light-weight commercial vehicle (LCVs), passenger car (PCs), heavy- weight commercial vehicle (HCVs).


By region, the market has been categorized as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.


Key Players


Bridgestone Corporation (Japan), Cabot Corporation (USA), Continental AG (Germany), The Goodyear Tire & Rubber Company (USA), Chevron Corporation (USA), Orion Engineered Carbons( Luxembourg),  Apollo Tyres (India), JK TYRE & INDUSTRIES LTD (India), Michelin (France), MRF ltd.(India), Pirelli & C. S.p.A.(Italy), Hankook Tire & Technology Co.,Ltd (South Korea), JSR Corporation (Japan), Thai Carbon Black (Thailand) and Lanxess (Germany).


Intended Audience



  • Tire Material manufacturers

  • Traders and distributors of Tire Material

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

Table of Contents

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Application

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Supply Chain Analysis

4.1.1 Raw Type Suppliers

4.1.2 Manufacturers/Producers

4.1.3 Distributors/Retailers/Wholesalers/E-Commerce

4.1.4 End Users

4.2 Porter’s Five Forces Analysis

4.2.1 Threat of New Entrants

4.2.2 Bargaining Power of Buyers

4.2.3 Bargaining Power of Suppliers

4.2.4 Threat of Substitutes

4.2.5 Intensity of Competitive Rivalry

5 Market Dynamics of Global Tire Material Market

5.1 Introduction

5.2 Drivers

5.3 Restraints

5.4 Opportunities

5.5 Trends

6. Global Tire Material Market, by type

6.1 Introduction

6.2 Elastomers

6.2.1 Market Estimates & Forecast, 2020-2027

6.2.2 Market Estimates & Forecast, by Region, 2020-2027

6.3 Reinforcing fillers

6.3.1 Market Estimates & Forecast, 2020-2027

6.3.2 Market Estimates & Forecast, by Region, 2020-2027

6.4 Plasticizers

6.4.1 Market Estimates & Forecast, 2020-2027

6.4.2 Market Estimates & Forecast, by Region, 2020-2027

6.5 Chemicals

6.5.1 Market Estimates & Forecast, 2020-2027

6.5.2 Market Estimates & Forecast, by Region, 2020-2027

6.6 Metal Reinforcements

6.6.1 Market Estimates & Forecast, 2020-2027

6.6.2 Market Estimates & Forecast, by Region, 2020-2027

6.7 Textile Reinforcements

6.7.1 Market Estimates & Forecast, 2020-2027

6.7.2 Market Estimates & Forecast, by Region, 2020-2027

7. Global Tire Material Market, by Application

7.1 Introduction

7.2 Light-Weight Commercial Vehicles (LCVs)

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast, by Region, 2020-2027

7.3 Passenger Cars (PCs)

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast, by Region, 2020-2027

7.4 Heavy- Weight Commercials (HCVs)

7.4.1 Market Estimates & Forecast, 2020-2027

7.4.2 Market Estimates & Forecast, by Region, 2020-2027

9. Global Tire Material Market, by Region

9.1 Introduction

9.2 North America

9.2.1 Market Estimates & Forecast, 2020-2027

9.2.2 Market Estimates & Forecast, by Type, 2020-2027

9.2.3 Market Estimates & Forecast, by Application, 2020-2027

9.2.5 US

9.2.5.1 Market Estimates & Forecast, 2020-2027

9.2.5.2 Market Estimates & Forecast, by Type, 2020-2027

9.2.5.3 Market Estimates & Forecast, by Application, 2020-2027

9.2.6 Canada

9.2.6.1 Market Estimates & Forecast, 2020-2027

9.2.6.2 Market Estimates & Forecast, by Type, 2020-2027

9.2.6.3 Market Estimates & Forecast, by Application, 2020-2027

9.3 Europe

9.3.1 Market Estimates & Forecast, 2020-2027

9.3.2 Market Estimates & Forecast, by Type, 2020-2027

9.3.3 Market Estimates & Forecast, by Application, 2020-2027

9.3.5 Germany

9.3.5.1 Market Estimates & Forecast, 2020-2027

9.3.5.2 Market Estimates & Forecast, by Type, 2020-2027

9.3.5.3 Market Estimates & Forecast, by Application, 2020-2027

9.3.6. France

9.3.6.1 Market Estimates & Forecast, 2020-2027

9.3.6.2 Market Estimates & Forecast, by Type, 2020-2027

9.3.6.3 Market Estimates & Forecast, by Application, 2020-2027

9.3.7 Italy

9.3.7.1 Market Estimates & Forecast, 2020-2027

9.3.7.2 Market Estimates & Forecast, by Type, 2020-2027

9.3.7.3 Market Estimates & Forecast, by Application, 2020-2027

9.3.8 Spain

9.3.8.1 Market Estimates & Forecast, 2020-2027

9.3.8.2 Market Estimates & Forecast, by Type, 2020-2027

9.3.8.3 Market Estimates & Forecast, by Application, 2020-2027

9.3.9 UK

9.3.9.1 Market Estimates & Forecast, 2020-2027

9.3.9.2 Market Estimates & Forecast, by Type, 2020-2027

9.3.9.3 Market Estimates & Forecast, by Application, 2020-2027

9.3.10 Russia

9.3.10.1 Market Estimates & Forecast, 2020-2027

9.3.10.2 Market Estimates & Forecast, by Type, 2020-2027

9.3.10.3 Market Estimates & Forecast, by Application, 2020-2027

9.3.11 Poland

9.3.11.1 Market Estimates & Forecast, 2020-2027

9.3.11.2 Market Estimates & Forecast, by Type, 2020-2027

9.3.11.3 Market Estimates & Forecast, by Application, 2020-2027

9.3.12 Rest of Europe

9.3.12.1 Market Estimates & Forecast, 2020-2027

9.3.12.2 Market Estimates & Forecast, by Type, 2020-2027

9.3.12.3 Market Estimates & Forecast, by Application, 2020-2027

9.4 Asia Pacific

9.4.1 Market Estimates & Forecast, 2020-2027

9.4.2 Market Estimates & Forecast, by Type, 2020-2027

9.4.3 Market Estimates & Forecast, by Application, 2020-2027

9.4.5 China

9.4.5.1 Market Estimates & Forecast, 2020-2027

9.4.5.2 Market Estimates & Forecast, by Type, 2020-2027

9.4.5.3 Market Estimates & Forecast, by Application, 2020-2027

9.4.6 India

9.4.6.1 Market Estimates & Forecast, 2020-2027

9.4.6.2 Market Estimates & Forecast, by Type, 2020-2027

9.4.6.3 Market Estimates & Forecast, by Application, 2020-2027

9.4.7 Japan

9.4.7.1 Market Estimates & Forecast, 2020-2027

9.4.7.2 Market Estimates & Forecast, by Type, 2020-2027

9.4.7.3 Market Estimates & Forecast, by Application, 2020-2027

9.4.8 Australia & New Zealand

9.4.8.1 Market Estimates & Forecast, 2020-2027

9.4.8.2 Market Estimates & Forecast, by Type, 2020-2027

9.4.8.3 Market Estimates & Forecast, by Application, 2020-2027

9.4.9 Rest of Asia Pacific

9.4.9.1 Market Estimates & Forecast, 2020-2027

9.4.9.2 Market Estimates & Forecast, by Type, 2020-2027

9.4.9.3 Market Estimates & Forecast, by Application, 2020-2027

9.5 Middle East & Africa

9.5.1 Market Estimates & Forecast, 2020-2027

9.5.2 Market Estimates & Forecast, by Type, 2020-2027

9.5.3 Market Estimates & Forecast, by Application, 2020-2027

9.5.5 GCC

9.5.5.1 Market Estimates & Forecast, 2020-2027

9.5.5.2 Market Estimates & Forecast, by Type, 2020-2027

9.5.5.3 Market Estimates & Forecast, by Application, 2020-2027

9.5.6 Israel

9.5.6.1 Market Estimates & Forecast, 2020-2027

9.5.6.2 Market Estimates & Forecast, by Type, 2020-2027

9.5.6.3 Market Estimates & Forecast, by Application, 2020-2027

9.5.7 North Africa

9.5.7.1 Market Estimates & Forecast, 2020-2027

9.5.7.2 Market Estimates & Forecast, by Type, 2020-2027

9.5.7.3 Market Estimates & Forecast, by Application, 2020-2027

9.5.8 Turkey

9.5.8.1 Market Estimates & Forecast, 2020-2027

9.5.8.2 Market Estimates & Forecast, by Type, 2020-2027

9.5.8.3 Market Estimates & Forecast, by Application, 2020-2027

9.5.9 Rest of Middle East & Africa

9.5.9.1 Market Estimates & Forecast, 2020-2027

9.5.9.2 Market Estimates & Forecast, by Type, 2020-2027

9.5.9.3 Market Estimates & Forecast, by Application, 2020-2027

9.6 Latin America

9.6.1 Market Estimates & Forecast, 2020-2027

9.6.2 Market Estimates & Forecast, by Type, 2020-2027

9.6.3 Market Estimates & Forecast, by Application, 2020-2027

9.6.5 Brazil

9.6.5.1 Market Estimates & Forecast, 2020-2027

9.6.5.2 Market Estimates & Forecast, by Type, 2020-2027

9.6.5.3 Market Estimates & Forecast, by Application, 2020-2027

9.6.6 Mexico

9.6.6.1 Market Estimates & Forecast, 2020-2027

9.6.6.2 Market Estimates & Forecast, by Type, 2020-2027

9.6.6.3 Market Estimates & Forecast, by Application, 2020-2027

9.6.7 Argentina

9.6.7.1 Market Estimates & Forecast, 2020-2027

9.6.7.2 Market Estimates & Forecast, by Type, 2020-2027

9.6.7.3 Market Estimates & Forecast, by Application, 2020-2027

9.6.8 Rest of Latin America

9.6.8.1 Market Estimates & Forecast, 2020-2027

9.6.8.2 Market Estimates & Forecast, by Type, 2020-2027

9.6.8.3 Market Estimates & Forecast, by Application, 2020-2027

10. Company Landscape

10.1 Introduction

10.2 Market Strategy

10.3 Key Development Analysis

(Expansion/Merger & Acquisition/Joint Venture/New Product Development/Agreement/Investment)

11. Company Profiles

11.1 Bridgestone Corporation

11.1.1 Company Overview

11.1.2 Financial Updates

11.1.3 Product/Business Segment Overview

11.1.4 Strategy

11.1.5 Key Developments

11.1.6 SWOT Analysis

11.2 Cabot Corporation

11.2.1 Company Overview

11.2.2 Financial Updates

11.2.3 Product/Business Segment Overview

11.2.4 Strategy

11.2.5 Key Developments

11.2.6 SWOT Analysis

11.3 Continental AG

11.3.1 Company Overview

11.3.2 Financial Updates

11.3.3 Product/Business Segment Overview

11.3.4 Strategy

11.3.5 Key Developments

11.3.6 SWOT Analysis

11.4 The Goodyear Tire & Rubber Company

11.4.1 Company Overview

11.4.2 Financial Updates

11.4.3 Product/Business Segment Overview

11.4.4 Strategy

11.4.5 Key Developments

11.4.6 SWOT Analysis

11.5 Chevron Corporation

11.5.1 Company Overview

11.5.2 Financial Updates

11.5.3 Product/Business Segment Overview

11.5.4 Strategy

11.5.5 Key Developments

11.5.6 SWOT Analysis

11.6 Orion Engineered Carbons

11.6.1 Company Overview

11.6.2 Financial Updates

11.6.3 Product/Business Segment Overview

11.6.4 Strategy

11.6.5 Key Developments

11.6.6 SWOT Analysis

11.7 Michelin France

11.7.1 Company Overview

11.7.2 Financial Updates

11.7.3 Product/Business Segment Overview

11.7.4 Strategy

11.7.5 Key Developments

11.7.6 SWOT Analysis

11.8 MRF ltd.

11.8.1 Company Overview

11.8.2 Financial Updates

11.8.3 Product/Business Segment Overview

11.8.4 Strategy

11.8.5 Key Developments

11.8.6 SWOT Analysis

11.9 Pirelli & C. S.p.A

11.9.1 Company Overview

11.9.2 Financial Updates

11.9.3 Product/Business Segment Overview

11.9.4 Strategy

11.9.5 Key Developments

11.9.6 SWOT Analysis

11.10 JSR Corporation

11.10.1 Company Overview

11.10.2 Financial Updates

11.10.3 Product/Business Segment Overview

11.10.4 Strategy

11.10.5 Key Developments

11.10.6 SWOT Analysis

11.11 Thai Carbon Black

11.11.1 Company Overview

11.11.2 Financial Updates

11.11.3 Product/Business Segment Overview

11.11.4 Strategy

11.11.5 Key Developments

11.11.6 SWOT Analysis

11.12 Hankook Tire & Technology Co., Ltd

11.12.1 Company Overview

11.12.2 Financial Updates

11.12.3 Product/Business Segment Overview

11.12.4 Strategy

11.12.5 Key Developments

11.12.6 SWOT Analysis

11.13 JK TYRE & INDUSTRIES LTD

11.13.1 Company Overview

11.13.2 Financial Updates

11.13.3 Product/Business Segment Overview

11.13.4 Strategy

11.13.5 Key Developments

11.10.6 SWOT Analysis

11.14 Lanxess

11.14.1 Company Overview

11.14.2 Financial Updates

11.14.3 Product/Business Segment Overview

11.14.4 Strategy

11.14.5 Key Developments

11.14.6 SWOT Analysis

11.15 Apollo Tyres.

11.15.1 Company Overview

11.15.2 Financial Updates

11.15.3 Product/Business Segment Overview

11.15.4 Strategy

11.15.5 Key Developments

11.15.6 SWOT Analysis

12. Conclusion

LIST OF TABLES

Table 1 Global Tire Material Market, by Region, 2020-2027

Table 2 North America: Tire Material Market, by Country, 2020-2027

Table 3 Europe: Tire Material Market, by Country, 2020-2027

Table 4 Asia-Pacific: Tire Material Market, by Country, 2020-2027

Table 5 Middle East & Africa: Tire Material Market, by Country, 2020-2027

Table 6 Latin America: Tire Material Market, by Country, 2020-2027

Table 7 Global Tire Material Type Market, by Regions, 2020-2027

Table 8 North America: Tire Material Type Market, by Country, 2020-2027

Table 9 Europe: Tire Material Type Market, by Country, 2020-2027

Table10 Asia-Pacific: Tire Material Type Market, by Country, 2020-2027

Table11 Middle East & Africa: Tire Material Type Market, by Country, 2020-2027

Table12 Latin America: Tire Material Type Market, by Country, 2020-2027

Table13 Global Tire Material Application Market, by Regions, 2020-2027

Table14 North America: Tire Material Application Market, by Country, 2020-2027

Table15 Europe: Tire Material Application Market, by Country, 2020-2027

Table16 Asia-Pacific: Tire Material Application Market, by Country, 2020-2027

Table17 Middle East & Africa: Tire Material Application Market, by Country, 2020-2027

Table18 Latin America: Tire Material Application Market, by Country, 2020-2027

Table19 Global Type Market, by Region, 2020-2027

Table20 Global Application Market, by Region, 2020-2027

Table21 North America: Tire Material Market, by Country, 2020-2027

Table22 North America: Tire Material Market, by Type, 2020-2027

Table23 North America: Tire Material Market, by Application, 2020-2027

Table24 Europe: Tire Material Market, by Country, 2020-2027

Table25 Europe: Tire Material Market, by Type, 2020-2027

Table26 Europe: Tire Material Market, by Application, 2020-2027

Table27 Asia-Pacific: Tire Material Market, by Country, 2020-2027

Table28 Asia-Pacific: Tire Material Market, by Type, 2020-2027

Table29 Asia-Pacific: Tire Material Market, by Application, 2020-2027

Table30 Middle East & Africa: Tire Material Market, by Country, 2020-2027

Table31 Middle East & Africa: Tire Material Market, by Type, 2020-2027

Table32 Middle East & Africa: Tire Material Market, by Application, 2020-2027

Table33 Latin America: Tire Material Market, by Country, 2020-2027

Table34 Latin America: Tire Material Market, by Type, 2020-2027

Table35 Latin America: Tire Material Market, by Application, 2020-2027

LIST OF FIGURES

FIGURE 1 Global Tire Material Market Segmentation

FIGURE 2 Forecast Research Methodology

FIGURE 3 Five Forces Analysis of Global Tire Material Market

FIGURE 4 Value Chain of Global Tire Material Market

FIGURE 5 Share of Global Tire Material Market in 2020, by Country (%)

FIGURE 6 Global Tire Material Market, 2020-2027

FIGURE 7 Global Tire Material Market Size, by Type, 2020

FIGURE 8 Share of Global Tire Material Market, by Type, 2020-2027

FIGURE 9 Global Tire Material Market Size, by Application, 2020

FIGURE 10 Share of Global Tire Material Market, by Application, 2020-2027

Tire Material Market