The tire material market is anticipated to grow in the forecast period owing to improvements in the quality of tire material coupled with an increase in vehicle usage, globally. Increasing sales of construction & mining equipment have boosted the growth of the tire material market. However, fluctuating raw material prices of tire material restrict the growth of the tire material market. On the other hand, the demand for eco-friendly tire material is likely to showcase growth opportunities for the tire material market during the forecast period.
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Most tires that are used for automobiles and bicycles, are pneumatically inflated structures, which provide a flexible cushion that absorbs shock as the tire rolls over rough patches on the surface. Tires provide a footprint that are designed to match the weight of the vehicle with the bearing strength of the surface that it rolls over, providing a bearing pressure that will not deform the surface. The materials of modern pneumatic tires are natural rubber, fabric and wire, synthetic rubber, along with carbon black and other chemical compounds.MARKET SCOPE
The “Global Tire Material Market Analysis to 2028” is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of tire material market with detailed market segmentation by type, vehicle type, and geography. The global tire material market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading tire material market players and offers key trends and opportunities in the market.MARKET SEGMENTATION
The global tire material market is segmented on the basis of type and vehicle type. Based on type, the market is segmented as elastomers, reinforcing fillers, plasticizers, chemicals, metal reinforcements, and textile reinforcements. Tire material market on the basis of vehicle type is segmented as passenger cars, buses, heavy trucks, and, lightweight commercial vecles.REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global tire material market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The tire material market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
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