Tire Material Market Size

Tire Material Market size was over USD 94.7 billion in 2025 and is estimated to reach USD 161.3 billion by the end of 2035, expanding at a CAGR of 6.1% during the forecast timeline, i.e., 2026-2035. In 2026, the industry size of tire material is estimated at USD 100.4 billion.

The international market is rapidly evolving, highly influenced by technological advancements, sudden transitions in customer preferences, and the unveiling of the latest industrial applications. According to official statistics published by NLM in June 2025, nearly 3 billion new tires are readily produced every year, and almost 800 million tires tend to become waste annually. Besides, tire rubber comprises natural or synthetic rubber, accounting for 40% to 60%, along with 20% to 25% of filters and reinforcing agents such as silica and carbon black, 12% to 15% of extender or process oils, and 1% to 2% of vulcanization agents, including thiazoles and zinc. Additionally, tires consist of an estimated 50:50 ratio of natural and synthetic rubber, thereby creating a sustainability balance, which is bolstering the market’s exposure globally.

Furthermore, mobility electrification, smart tire implementation, specialty and high-performance applications, recycling strategies, and the regional supply chain diversification are other trends that are boosting the market internationally. As per an article published by the IEA Organization in 2025, the electricity fleet of electric vehicles across different modes, except for 2/3 Ws, is poised to reach 250 million, which is 4 times as many electric vehicles by the end of 2030. In addition, over 90% are electric cars, which is effectively similar to the share as of 2024, thus enhancing the market’s demand across different regions. Therefore, in this particular scenario, electric vehicle stocks have gradually increased at an average rate of almost 25% every year, which is nearly half the yearly growth witnessed between 2018 and 2024, thereby making it suitable for boosting the market’s exposure.

Electric 2/3-Wheeler Stock in the Stated Policies Scenario (2024-2030)

Source: IEA Organization