Tire Material Market Share

APAC Market Analysis

Asia Pacific industry is anticipated to dominate majority revenue share of 35% by 2037. Additionally, India is one of the largest tire producers in the region, with numerous domestic and international players such as MRF, JK Tires, CEAT, Michelin, Pirelli, and Apollo Tires. Moreover, the companies in the region are moving towards eco-friendly and sustainable products which are set to boost the market further. For instance, Bridgestone a Japanese tire manufacturer introduced its latest eco-friendly range of tires under the brand name Ecopia – EP850 for SUVs and EP150 for passenger vehicles.

North American Market Statistics

The tire material market in the North America region is anticipated to account for a significant revenue share of 28% by the end of 2037. The North America tire materials market is a significant market driven by stringent environmental regulations. The market is primarily determined by a large number of tire manufacturers and suppliers in the region. North America tire manufacturers use a variety of tire materials including natural rubber, synthetic rubber, steel, textiles, and chemicals.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of tire material is estimated at USD 104.18 billion.

The tire material market size was over USD 100.1 billion in 2024 and is poised to exceed USD 191.1 billion by 2037, growing at over 5.1% CAGR during the forecast period i.e., between 2025-2037. The market growth is impelled by increasing improvements in rubber chemistry and tier design and growing demand for vehicles in emerging economies.

Asia Pacific industry is anticipated to dominate majority revenue share of 35% by 2037, as companies in the region are moving towards eco-friendly and sustainable products.

The major players in the market are Cabot Corporation, Lanxess AG, JSR Corporation, N.V. Bekaert S.A., Chevron Corporation, Nynas AB, PetroChina Company Limited, Koninklijke Philips N.V., Goodyear Tire & Rubber Company, Birla Tyres, Carlisle Companies Inc.

Tire Material Market Share