Strategic Analysis of the Global Tire Materials Market
The implementation of stringent tire labeling and fuel economy regulations in the developed economies of the world have caused a redesigning of structural components—such as tread patterns and reformulating compounds—in tires. Tire original equipment manufacturers (OEMs) across the globe seek to reduce rolling resistance, increase wear resistance, and improve fuel economy for vehicle owners.
Synthetic rubber manufacturers are making strategic investments to shift production from standard grades to high-performance solution-styrene butadiene (S-SBR) and neodymium poly-butadiene (Nd-PBR) rubbers.
The growth in the usage of Nd-PBR and S-SBR in tire treads has spurred innovation in reinforcing filler technologies to reduce rolling resistance. There is an increasing substitution of carbon black with silica and polymer nano-composite fillers in tire treads.
Steel and polyester cords remain the most preferred in the tire industry. As they are used extensively in radial tires, the rapid adoption of these tires in Asia-Pacific has driven the revenue for reinforcement cords. The usage of nylon cords is expected to be high in Asia-Pacific due to greater presence of bias ply tires in the light commercial vehicles (LCVs) of this region.
After a ban in Europe in 2010, distillate aromatic extract (DAE) is in the process of being phased out globally. This processing oil has been replaced by environment-friendly treated-distillate aromatic extract (TDAE), mild extraction solvate (MES), and naphthenic oils.
Naphthenic oils are expected to gain market share in processing oils owing to their excellent solubility, sustainability, and competitive pricing compared to TDAE and MES.
About this report
This research service provides a comprehensive analysis of materials involved in tire manufacturing. The scope of the study covers 4 tire material segments—synthetic rubber, reinforcing fillers, reinforcement cords, and processing oils. The study provides in-depth insight into each of these segments across North America, Europe, Asia-Pacific, and the Rest of the World. It includes an analysis of diverse material and technology trends and covers the important factors driving and restraining the market. Key competitive factors are identified and a product matrix of the top market participants provided for each region. The study period is from 2011 to 2021, and the base year is 2014.
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