Global Tire Chemicals Market By Type (Natural Rubber, Synthetic Rubber, Carbon Black, etc.), By Tire Category (Passenger Car, Bus and Truck etc.), By Region, Competition Market Forecast & Opportunities, 2011-2021
Tires manufactures in automobile sector use various chemicals such as, natural rubber, synthetic rubber, carbon black, sulphur, fillers and synthetic textile for enhance different properties in tires like tensile strength, tear strength, abrasion resistance, crack growth resistance, rolling strength and strong grip. Tire chemicals market witnessed a significant decline all across the world over the past few years, on account of oversupply of natural and synthetic rubber by various Asian countries, which created a situation of demand deficit in the global tire chemicals market. Consequently, resulting in declining prices of natural and synthetic rubber globally. However, increasing government interventions in these Asian countries is expected to positively affect market revenues for natural and synthetic rubber across the world in the coming years, thereby propeling global tire chemicals market during the forecast period. Thus, global tire chemicals market is projected to grow at a moderate pace through 2025.
According to TechSci Research report, “Global Tire Chemicals Market By Type, By Tire Category, By Region, Competition Forecast & Opportunities, 2011-2025”, the tire chemicals market is projected to surpass 42.58 million tons by 2025, on account of accelerating demand for highly durable tires majorly by passenger cars, medium & heavy commercial vehicle and OTR tires segment. Tire chemicals are of various types such as,natural rubber, synthetic rubber, accelerators, plasticizers, stearic acid, etc. Moreover,Natural rubber and synthetic rubber were the two leading tire chemicals in global tire chemicals market in 2015, and this trend is expected to continue through 2025, as natural rubber and synthetic rubber accounts for more than 50% consumption in global tire industry. Moreover, global tire chemicals market has been segmented demand in the basis of tire category, which was dominated by passenger cars 2015 and the same trend is anticipated to continue through 2025, owing to rising production and sales of passenger car across the globe. “Global Tire Chemicals Market By Type, By Tire Category, By Region, Competition Forecast & Opportunities, 2011-2025”, discusses the following aspects of tire chemicals market across the world: