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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Tire Material Market was valued at US$ 90.4 billion in 2023 and is expected to reach US$ 120.8 billion by 2030, growing at a CAGR of 4.5% from 2024 to 2030. The global market provides a detailed overview of the Tire Material Market, which has been segmented by type and vehicle. By type, the tire material market has been segmented into Elastomers, Reinforcing Fillers, Plasticizers, Chemicals, Metal Reinforcements, Textile Reinforcements, and Others. The Elastomers segment is likely the largest and fastest growing in terms of types. Based on vehicles, the tire material market is segmented into Passenger Cars, Buses, Heavy Trucks, and Lightweight Commercial Vehicles (LCV). The Passenger Cars segment is predicted to register the fastest growth rate during the forecast period, according to precision business insights.
Study Period
2024-2030Base Year
2023CAGR
4.5%Largest Market
North AmericanFastest Growing Market
Asia-Pacific
The primary factors driving market expansion are growing international construction and mining equipment sales and rising demand for tire replacements from emerging nations.
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 90.4 billion |
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Market Size in 2030 |
US$ 120.8 billion |
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Market CAGR |
4.5% |
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By Type |
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By Vehicle |
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By Region |
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The global tire material market size was valued at US$ 90.4 billion in 2023 and is projected to grow at a CAGR of 4.5% from 2024 to 2030.
The primary global Tire Material market players are Kuraray Co., Ltd., PetroChina Company Limited, Exxon Mobil Corporation., JSR Corporation, and Umicore.
Asia Pacific is the fastest-growing region for Tire Material Market
| 1. Executive Summary |
| 2. Global Tire Material Market Introduction |
| 2.1. Global Tire Material Market - Taxonomy |
| 2.2. Global Tire Material Market -Definitions |
| 2.2.1. By Type |
| 2.2.2. By Vehicle |
| 2.2.3. By Artificial Sweetners |
| 2.2.4. By Region |
| 3. Global Tire Material Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Tire Material Market Dynamic Factors - Impact Analysis |
| 3.6. Global Tire Material Market - Competition Landscape |
| 4. Global Tire Material Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Tire Material Market, By Type, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 5.1. Elastomers |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Reinforcing Fillers |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Plasticizers |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Chemicals |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Metal Reinforcements |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 5.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 5.6. Textile Reinforcements |
| 5.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 5.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.6.3. Market Opportunity Analysis |
| 5.7. Others |
| 5.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 5.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.7.3. Market Opportunity Analysis |
| 6. Global Tire Material Market, By Vehicle, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 6.1. Passenger Cars |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Buses |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Heavy Trucks |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Lightweight Commercial Vehicles (LCV) |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 7. Global Tire Material Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia-Pacific |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Middle East and Africa |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Global Tire Material Market - Opportunity Analysis Index, By Application, Application, and Region, 2024 - 2030 |
| 8. North America Tire Material Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 8.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. Elastomers |
| 8.1.2. Reinforcing Fillers |
| 8.1.3. Plasticizers |
| 8.1.4. Chemicals |
| 8.1.5. Metal Reinforcements |
| 8.1.6. Textile Reinforcements |
| 8.1.7. Others |
| 8.2. Vehicle Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1. Passenger Cars |
| 8.2.2. Buses |
| 8.2.3. Heavy Trucks |
| 8.2.4. Lightweight Commercial Vehicles (LCV) |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030Â by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 8.3.1. U.S. |
| 8.3.2. Canada |
| 8.4. North America Tire Material Market - Opportunity Analysis Index, By Product, By Vehicle, Artificial Sweeteners, and Country, 2024 - 2030 |
| 8.5. North America Tire Material Market Dynamics - Trends |
| 9. Europe Tire Material Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Elastomers |
| 9.1.2. Reinforcing Fillers |
| 9.1.3. Plasticizers |
| 9.1.4. Chemicals |
| 9.1.5. Metal Reinforcements |
| 9.1.6. Textile Reinforcements |
| 9.1.7. Others |
| 9.2. Vehicle Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1. Passenger Cars |
| 9.2.2. Buses |
| 9.2.3. Heavy Trucks |
| 9.2.4. Lightweight Commercial Vehicles (LCV) |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030Â by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Germany |
| 9.3.2. UK |
| 9.3.3. France |
| 9.3.4. Spain |
| 9.3.5. Italy |
| 9.3.6. Russia |
| 9.3.7. Poland |
| 9.3.8. Rest of Europe |
| 9.4. Europe Tire Material Market - Opportunity Analysis Index, By Product, By Vehicle, Artificial Sweeteners, and Country, 2024 - 2030 |
| 9.5. Europe Tire Material Market Dynamics - Trends |
| 10. Asia-Pacific Tire Material Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 10.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Elastomers |
| 10.1.2. Reinforcing Fillers |
| 10.1.3. Plasticizers |
| 10.1.4. Chemicals |
| 10.1.5. Metal Reinforcements |
| 10.1.6. Textile Reinforcements |
| 10.1.7. Others |
| 10.2. Vehicle Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1. Passenger Cars |
| 10.2.2. Buses |
| 10.2.3. Heavy Trucks |
| 10.2.4. Lightweight Commercial Vehicles (LCV) |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030Â by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Japan |
| 10.3.2. China |
| 10.3.3. India |
| 10.3.4. ASEAN |
| 10.3.5. Australia & New Zealand |
| 10.3.6. Rest of Asia-Pacific |
| 10.4. Asia-Pacific Tire Material Market - Opportunity Analysis Index, By Product, By Vehicle, Artificial Sweeteners, and Country, 2024 - 2030 |
| 10.5. Asia-Pacific Tire Material Market Dynamics - Trends |
| 11. Latin America Tire Material Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 11.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Elastomers |
| 11.1.2. Reinforcing Fillers |
| 11.1.3. Plasticizers |
| 11.1.4. Chemicals |
| 11.1.5. Metal Reinforcements |
| 11.1.6. Textile Reinforcements |
| 11.1.7. Others |
| 11.2. Vehicle Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1. Passenger Cars |
| 11.2.2. Buses |
| 11.2.3. Heavy Trucks |
| 11.2.4. Lightweight Commercial Vehicles (LCV) |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030Â by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Brazil |
| 11.3.2. Mexico |
| 11.3.3. Argentina |
| 11.3.4. Rest of Latin America |
| 11.4. Latin America Tire Material Market - Opportunity Analysis Index, By Product, By Vehicle, Artificial Sweeteners, and Country, 2024 - 2030 |
| 11.5. Latin America Tire Material Market Dynamics - Trends |
| 12. Middle East and Africa Tire Material Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 12.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Elastomers |
| 12.1.2. Reinforcing Fillers |
| 12.1.3. Plasticizers |
| 12.1.4. Chemicals |
| 12.1.5. Metal Reinforcements |
| 12.1.6. Textile Reinforcements |
| 12.1.7. Others |
| 12.2. Vehicle Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1. Passenger Cars |
| 12.2.2. Buses |
| 12.2.3. Heavy Trucks |
| 12.2.4. Lightweight Commercial Vehicles (LCV) |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Gulf Cooperation Council (GCC) Countries |
| 12.3.2. Israel |
| 12.3.3. South Africa |
| 12.3.4. Rest of MEA |
| 12.4. MEA Tire Material Market - Opportunity Analysis Index, By Product, By Vehicle, Artificial Sweeteners, and Country, 2024 - 2030 |
| 12.5. MEA Tire Material Market Dynamics - Trends |
| 13. Competition Landscape |
| 13.1. Strategic Dashboard of Top Market Players |
| 13.2. Company Profiles (Introduction, Financial Analysis, Product & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 13.2.1. Lanxess |
| 13.2.2. Cabot Corporation |
| 13.2.3. Phillips Carbon Black Limited |
| 13.2.4. The Goodyear Tire and Rubber Company |
| 13.2.5. Sinopec |
| 13.2.6. Kurarey |
| 13.2.7. JSR Corporation |
| 13.2.8. Thai Carbon Black Public Company Limited (Birla Carbon) |
| 13.2.9. Orion Engineered Carbons S.A. |
| 13.2.10. Royal Dutch Shell |
| 13.2.11. Other Key Market Players |
| 13.2.12. Chevron Corporation |
| 13.2.13. Nynas AB |
| 13.2.14. Petrochina |
| 13.2.15. Exxonmobil |
| 13.2.16. Sibur |
| 13.2.17. Ralson Goodluck Carbon |
| 13.2.18. Longxing Chemical |
| 13.2.19. Phillips 66 Company |
| 13.2.20. U.S. Zinc |
| 13.2.21. Horsehead Corporation |
| 13.2.22. Umicore SA |
| 13.2.23. SRF Limited |
| 13.2.24. PPG Industries |
| 13.2.25. Others |
| 14. Research Methodology |
| 15. Key Assumptions and Acronyms |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.