MarkNtel Advisors recently published a detailed industry analysis of the Global Tire Chemicals Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Global Tire Chemicals Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The 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.
What are the major Driver the Global Tire Chemicals industry?
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.
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What segments define the Global Tire Chemicals Market from 2025 to 2030? How do these segments contribute to market dynamics and growth?
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
According to report, The global tire chemicals industry is bifurcated into automobile vehicles and others including aircraft & marine tires.
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
According to report, Of all the important chemical types, the largest market share is held by the Rubbers, accounting for more than 50% share
Explore the Complete Global Tire Chemicals Market Analysis Report – https://www.marknteladvisors.com/research-library/global-tire-chemicals-market.html
Geographical Analysis: Global Tire Chemicals Market
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Global Tire Chemicals Market Share & Competitive Landscape:
The Tire Chemicals Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry’s leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the Global Tire Chemicals Market are:
- 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.
The Global Tire Chemicals Industry Recent Development:
- 2024: Birla Carbon announced the construction of two new carbon black plants in Niadupet, Andhra Pradesh, India, and Rayong, Thailand.
- 2023: Cabot Corporation launches EVOLVETM a sustainable solutions technology platform that is focused on advancing sustainable reinforcing carbons.
Questions Addressed in this Study
1.What factors are driving the Global Tire Chemicals Market growth?
2.How is the Global Tire Chemicals Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Global Tire Chemicals Market?
4.What is the current size of the Global Tire Chemicals Market, and how is it projected to change in the future?
6.What is the future outlook for the Global Tire Chemicals Market in terms of technological advancements and market expansion?
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Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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