The global tire chemicals market
is segmented into type of tires such as two-wheelers, passenger cars,
commercial vehicles and off-road vehicles. Among these segments, passenger cars
tire chemicals segment is expected to occupy top position in overall tire
chemicals market during the forecast period. Further, increasing sale of
passenger cars across the globe is the dynamic factor behind the growth of
passenger car tire chemicals market. Further, increasing demand for high
durable tires is envisioned to bolster the growth of the passenger cars tire
chemicals market.
In the terms of volume, global
tire chemicals market was valued at 2,380 Million tons in 2016. Moreover, global
tire chemicals market is expected to flourish at a significant CAGR during the
forecast period. Rising sale of automotive is expected to strengthen the growth
of tire
chemicals market in the upcoming years. Further, increasing aftermarket
replacement tires market is providing robust opportunities for the growth of the
tire chemicals market.
Asia Pacific dominated the
overall tire chemicals market in 2016. Further, Asia Pacific accounted for more
than 40% of the global automotive production and it is anticipated to continue
its dominance over the forecast period. Presence of large number of tire
manufacturers in China is anticipated to impel the growth of the tire chemicals
market in the region. North America market is anticipated to grow at a moderate
rate during the forecast period. Growing automotive industry in the region is
predicted to foster the growth of the tire chemicals market during the forecast
period.
Rising
Production of Automotive Vehicles
Increasing demand and
production of automotive vehicles across the globe is anticipated to spur the
growth of the tire chemicals market. Moreover, premium & specialty tires
are gaining robust demand in all vehicles segment. This factor is expected to
impetus the growth of tire chemicals market.
Product
Development and Technology Innovations
Advances in technology and
development of eco-friendly tires are expected to positively impact the growth
of the tire chemicals market. Similarly, favorable government initiatives and
green manufacturing practices are anticipated to behold the positive growth of
the global tire chemicals market during the forecast period.
However, volatility in the price
of raw material and increasing environmental concerns are some of the factors
which might dampen the growth of tire chemicals market during the forecast
period.
The report titled “Tire
Chemicals Market: Global Demand
Analysis & Opportunity Outlook 2024” delivers detailed
overview of the global tire chemicals market in terms of market segmentation by
chemicals, by type of tires and by region.
Further, for the in-depth
analysis, the report encompasses the industry growth drivers, restraints,
supply and demand risk, market attractiveness, BPS analysis and Porter’s five
force model.
This report also provides the
existing competitive scenario of some of the key players of the global tire
chemicals market which includes company profiling of BASF SE, Eastman Chemicals,
Cabot Corporation, Evonik Industries AG, Jiangxi Black Cat Carbon Black Inc., Birla
Carbon, ExxonMobil Corporation, Emery Oleochemicals Group, Phillips Carbon
Black Limited and Oriental Carbon & Chemicals. The profiling enfolds key
information of the companies which encompasses business overview, products and
services, key financials and recent news and developments. On the whole, the
report depicts detailed overview of the global tire chemicals market
that will help industry consultants, equipment manufacturers, existing players
searching for expansion opportunities, new players searching possibilities and
other stakeholders to align their market centric strategies according to the
ongoing and expected trends in the future.
About Research
Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
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strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
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Info:
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U.S.
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