Markntel Advisors’ report, Tire Chemicals Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2030, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Tire Chemicals presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.
Tire Chemicals Market Research Report & Market Summary:
The Global Tire Chemicals Market size is valued at around USD 80 billion in 2024 and is projected to reach USD 110 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4.5 % during the forecast period, i.e., 2025-30. The Global Tire Chemicals Market is driven by the expansion of production of passenger cars, two-wheelers, and demand for LCV and M & HCV. The total global production of automobile vehicles in 2023 was approximately 93.54 million units showing an increase of 10% from the 84.83 million units in 2022, according to the facts from OICA. Thus, the growing automobile units are projecting the growth prospects for tire production and tire chemicals manufacturing companies.
If you’re interested in the assumptions considered in this study, you can download the PDF brochure- https://www.marknteladvisors.com/query/request-sample/global-tire-chemicals-market.html
Tire Chemicals Market Dynamics:
Key Driver-
Expanding Automobile Industry – Globally, the disposable income of individuals is growing, which is resulting in rising sales of vehicles. The logistics requirements owing to augmenting e-commerce have also stimulated the sales of commercial vehicles. All these driving factors of the automobile industry are ultimately creating the demand for tire chemicals. Easy financing solutions also increase the sale of vehicles by providing loans, EMIs, etc. The transportation industry is expanding due to the rising trend of rental services. Moreover, the global sale of automobile vehicles has increased to 92.74 million units in 2023 from 82.71 million units in 2022, as per the facts provided by the OICA. Further, from the total sale of vehicles in 2023, 65.27 million units were of passenger cars, while 27.45 million units were of commercial vehicles. Thus, every year, the expanding automobile industry creates the demand for more and more tires, which ultimately keeps the demand for tire chemicals higher and helps in the growth of the Global Tire Chemicals Market.
Tire Chemicals Market Segmentation Analysis:
According to MarkNtel study the market is segmented into the following categories:
By Application Type
- Automobile Tires- Market Size & Forecast 2020-2030, Thousand Tons
- Passenger Car- Market Size & Forecast 2020-2030, Thousand Tons
- Two & three Wheeler – Market Size & Forecast 2020-2030, Thousand Tons
- LCV – Market Size & Forecast 2020-2030, Thousand Tons
- M & HCV – Market Size & Forecast 2020-2030, Thousand Tons
- OTR – Market Size & Forecast 2020-2030, Thousand Tons
- Others (Aircraft Tires, Marine Tires, etc.)- Market Size & Forecast 2020-2030, Thousand Tons
The global tire chemicals industry is bifurcated into automobile vehicles and others including aircraft & marine tires. The share of automobile tires among all vehicle types is the largest, having around 90% of the total market value.
By Chemical Type
- Rubbers- Market Size & Forecast 2020-2030, Thousand Tons
- Natural Rubber- Market Size & Forecast 2020-2030, Thousand Tons
- Synthetic Rubber- Market Size & Forecast 2020-2030, Thousand Tons
- Antioxidants- Market Size & Forecast 2020-2030, Thousand Tons
- Amine Antioxidants – Market Size & Forecast 2020-2030, Thousand Tons
- Phenolic Antioxidants- Market Size & Forecast 2020-2030, Thousand Tons
- Heterocyclic Antioxidants- Market Size & Forecast 2020-2030, Thousand Tons
- Antiozonants- Market Size & Forecast 2020-2030, Thousand Tons
- Fillers- Market Size & Forecast 2020-2030, Thousand Tons
- Carbon Black- Market Size & Forecast 2020-2030, Thousand Tons
- Silica- Market Size & Forecast 2020-2030, Thousand Tons
- Vulcanization Chemicals- Market Size & Forecast 2020-2030, Thousand Tons
- Sulphur- Market Size & Forecast 2020-2030, Thousand Tons
- Zinc Oxide- Market Size & Forecast 2020-2030, Thousand Tons
Of all the important chemical types, the largest market share is held by the Rubbers, accounting for more than 50% share. Natural and synthetic are the two main types of rubber. Natural rubbers hold approximately 30% market share and synthetic rubber holds approximately 25% market share. In the manufacturing of tires, rubbers are the main chemicals used, which led to the highest share of rubbers, and it will dominate the chemical type segment in the forecast period as well.
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific- Market Size & Forecast 2020-2030, Thousand Tons.
Asia-Pacific holds the largest market share in the Global Tire Chemicals Market, from all the major leading regions. It contributes approximately 60% to the Global Tire Chemicals Market. The rapidly growing economies like India and China are part of this region, with increasing deployment of vehicles.
As indicated in the latest market research report published by Markntel Advisors, “Tire Chemicals Research Report: Forecast (2025-2030)”, this report offers a detailed analysis of the industry, featuring insights into the Tire Chemicals industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.
Browse Full Report Along with TOC and Figures – https://www.marknteladvisors.com/research-library/global-tire-chemicals-market.html
Top Companies Operating in the Tire Chemicals Market:
- Birla Carbon
- Von Bunditt Company Ltd.
- Business Description
- Cabot Corporation
- Sinochem International
- Evonik Industries AG
- Phillips Carbon Black Limited
- Eastman Chemicals Company
- Sumitomo Chemical Company Limited
- Orion Engineered Carbon S.A
- Lanxess AG
- BASF
- Solvay SA/NV
- ExxonMobil Corporation
- Emery OleoChemicals
- Arkema Chemicals Pvt. Ltd.
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Key Report Highlights:
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
Note – If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.
Frequently Asked Questions (FAQs)-
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- What are the trends influencing the current scenario of the market?
- What leading factors would propel and impede the industry across the geography?
- How has the industry been evolving in terms of geography & Tire Chemicals Market adoption?
- How has the competition been shaping up across the geography?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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