Tire Material Market Analysis

End User (Passenger Cars, Trucks, Buses, LCV)

The passenger car segment in the tire material market is set to account for the largest revenue share of 35% by the end of 2037. Passenger vehicles require a variety of tire materials to handle different driving conditions such as wet, dry, and snow, and to provide excellent fuel economy, handling, and durability.  Moreover, a noteworthy surge in the sales of private cars worldwide along with wider demand for sustainable, environment-friendly tire substances and high production of tires are significant factors supporting the market expansion of this segment. In 2021, India produced 39 million units of tires for passenger vehicles.

Type (Elastomers, Reinforcing Fillers, Plasticizers, Chemicals, Metal Reinforcements, Textile Reinforcements)

Tire tire material market is anticipated to account for the largest revenue share by the end of 2037 in terms of type segmentation. The growth of this segment can be attributed owing to the demand from the automotive industry is constantly increasing. Polyurethane elastomers are natural and synthetic rubbers used in the manufacture of tires. Butadiene is used in the production of rubber due to its low rolling resistance and high abrasion resistance.

Our in-depth analysis of the global tire material market includes the following segments: