Tire Material Market Size

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. In the year 2025, the industry size of tire material is estimated at USD 104.18 billion. The rising production of tires and the growing demand for tire replacements from developing countries is projected to propel the market demand. According to statistics, the global tire industry produced around 2.35 billion tires in 2021. 

In recent years, the demand for automobiles has increased owing to the growing middle-class population and income. Increased vehicle production, increased demand for commercial vehicles, increased use of advanced materials, and technological advances all are projected to contribute to market growth. The global automotive industry is growing with increasing vehicle production in emerging markets and with this the market is also expected to rise.