Global Sustainable Tire Materials Market Size Study, by Type of Material (Rubber, Sustainable Carbon Black, Silica, Others), by Propulsion Type (Internal Combustion Engine Vehicles, Electric Vehicles), by Vehicle Type (Passenger Vehicles, Commercial Vehic

Global Sustainable Tire Materials Market Size Study, by Type of Material (Rubber, Sustainable Carbon Black, Silica, Others), by Propulsion Type (Internal Combustion Engine Vehicles, Electric Vehicles), by Vehicle Type (Passenger Vehicles, Commercial Vehicles), by Tire Structure (Radial, Bias), by Sales Channel (OEMs, Aftermarket) and Regional Forecasts 2022-2032

The Global Sustainable Tire Materials market is projected to reach USD 46.38 million by 2023 from USD 34.9 million in 2023, growing at a CAGR of 32.88% during the forecast period 2024-2032. Sustainable tire materials are eco-friendly alternatives to traditional tire components, aimed at reducing environmental impact. These materials often include natural rubber sourced from responsibly managed plantations, silica derived from rice husk ash, vegetable oils, and recycled rubber. The goal is to create tires that maintain performance standards while minimizing resource depletion, greenhouse gas emissions, and waste. Using sustainable materials helps improve the overall lifecycle of tires, from production and use to disposal, contributing to a more sustainable automotive industry.

The growth trajectory is anticipated to be driven by the escalating demand for sustainable tires and the increasing integration of sustainable materials in the manufacturing processes for both passenger and commercial vehicle tires. Global Sustainable Tire Materials Market is at the forefront of innovative solutions designed to reduce the environmental footprint of tire manufacturing. The term ""sustainable tire material"" encompasses recycled, renewable, and bio-based materials that contribute to reducing resource consumption and emissions. These materials include natural rubber, recycled rubber, sustainable carbon black, silica, recycled cord, vegetable oils, and eco-friendly chemicals. The ongoing research aimed at launching new sustainable tire materials underscores the market's potential.

The market's growth is significantly influenced by stringent carbon emission regulations. The Paris Agreement and commitments by countries like the EU, India, and the US to achieve net-zero carbon emissions by specific deadlines are key drivers. Recycling initiatives and circular economy strategies, such as the EU's Circular Economy Action Plan (CEAP), further support the market by reducing greenhouse gas emissions and conserving natural resources. However, the volatility in tire prices made from sustainable materials poses a challenge. Factors like raw material availability, import/export duties, and manufacturing costs affect the pricing. Nevertheless, ongoing R&D efforts are expected to reduce these costs over the forecast period.

There are numerous opportunities for tire manufacturers to introduce new sustainable materials. Innovations such as bio-based silica and recycled tire carbon black are paving the way for more cost-effective and environmentally friendly tires. The market is still in its growth phase, with significant contributions from companies like Continental AG, Michelin, and The Goodyear Tire and Rubber Company.

Europe currently dominates the market due to its substantial production and consumption of natural and recycled rubber for tire manufacturing. Leading manufacturers are increasing their production of sustainable tires to meet the growing demand in the region. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period.

Major market players included in this report are:

Evonik Industries AG

Solvay

PPG Industries, Inc.

LDC-KOREA CO., LTD.

CONTEC

Black Bear Carbon B.V.

GRP LTD.

SNR Reclamations Pvt. Ltd.

Genan Holding A/S

Lehigh Technologies

The Goodyear Tire & Rubber Company

Michelin

Bridgestone Corporation

Nokian Tyres plc

Continental AG

The detailed segments and sub-segment of the market are explained below:

By Type of Material:
• Rubber
• Sustainable Carbon Black
• Silica
• Others

By Propulsion Type:
• Internal Combustion Engine Vehicles
• Electric Vehicles

By Vehicle Type:
• Passenger Vehicles
• Commercial Vehicles

By Tire Structure:
• Radial
• Bias

By Sales Channel:
• OEMs
• Aftermarket

By Region:
• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA

Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

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