Published Year: 2023
Sustainable Tire Materials Market - A Global and Regional Analysis: Focus on Vehicle Type, Tire Stru
The global sustainable tire materials market is projected to reach $533.9 million by 2032 from...
Market Research Report
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Table of Contents
1.1 Industry Outlook
1.1.1 Industry Trends
1.1.1.1 Change in Business Models of Companies Due to Climate Action
1.1.1.2 Increasing Allocation of Funds Toward Environment-Friendly Tire Material Technologies
1.1.2 Supply Chain Network
1.1.3 Key Patents Analysis
1.1.4 Overview of Tire Recycling
1.1.5 Regulations on Tire Materials Market
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Stringent Regulations and Carbon Neutrality Targets
1.2.1.2 Augmented Demand for Sustainable Tire Materials from Transportation and Logistics
1.2.1.3 Extended Lifespan and Cost Efficiency of Tires
1.2.2 Business Challenges
1.2.2.1 Volatility of Tire Prices Made from Sustainable Tire Materials
1.2.2.2 Lower Adoption Rate of Sustainable Tire Materials in ICE Vehicles Compared to Electric Vehicles
1.2.3 Business Strategies
1.2.3.1 Product Developments
1.2.3.2 Market Developments
1.2.4 Corporate Strategies
1.2.4.1 Mergers, Acquisitions, and Divestments
1.2.4.2 Partnerships, Joint Ventures, Collaborations, and Alliances
1.2.5 Business Opportunities
1.2.5.1 Growing Demand for New Sustainable Tire Materials
1.2.5.2 Utilization of Advanced Recycling Techniques within the Tire Circular Economy Model
2.1 U.K.
2.1.1 Market
2.1.1.1 Buyer Attributes
2.1.1.2 Key Manufacturers in the U.K.
2.1.1.3 Competitive Benchmarking
2.1.1.4 Business Challenges
2.1.1.5 Business Drivers
2.1.2 Application
2.1.2.1 U.K. Sustainable Tire Materials Market (by Vehicle Type), Volume and Value Data
2.1.2.2 U.K. Sustainable Tire Materials Market (by Tire Structure), Volume and Value Data
2.1.2.3 U.K. Sustainable Tire Materials Market (by Propulsion Type), Volume and Value Data
2.1.2.4 U.K. Sustainable Tire Materials Market (by Sales Channel), Volume and Value Data
2.1.3 Product
2.1.3.1 U.K. Sustainable Tire Materials Market (by Type of Material), Volume and Value Data
2.2 Europe
2.2.1 Market
2.2.1.1 Buyer Attributes
2.2.1.2 Key Manufacturers in Europe
2.2.1.3 Competitive Benchmarking
2.2.1.4 Business Challenges
2.2.1.5 Business Drivers
2.2.2 Application
2.2.2.1 Europe Sustainable Tire Materials Market (by Vehicle Type), Volume and Value Data
2.2.2.2 Europe Sustainable Tire Materials Market (by Tire Structure), Volume and Value Data
2.2.2.3 Europe Sustainable Tire Materials Market (by Propulsion Type), Volume and Value Data
2.2.2.4 Europe Sustainable Tire Materials Market (by Sales Channel), Volume and Value Data
2.2.3 Product
2.2.3.1 Europe Sustainable Tire Materials Market (by Type of Material), Volume and Value Data
2.2.4 Europe: Country-Level Analysis
2.2.4.1 Italy
2.2.4.1.1 Market
2.2.4.1.1.1 Buyer Attributes
2.2.4.1.1.2 Key Manufacturers in Italy
2.2.4.1.1.3 Business Challenges
2.2.4.1.1.4 Business Drivers
2.2.4.1.2 Application
2.2.4.1.2.1 Italy Sustainable Tire Materials Market (by Vehicle Type), Volume and Value Data
2.2.4.1.2.2 Italy Sustainable Tire Materials Market (by Tire Structure), Volume and Value Data
2.2.4.1.2.3 Italy Sustainable Tire Materials Market (by Propulsion Type), Volume and Value Data
2.2.4.1.3 Product
2.2.4.1.3.1 Italy Sustainable Tire Materials Market (by Type of Material), Volume and Value Data
2.2.4.2 France
2.2.4.2.1 Market
2.2.4.2.1.1 Buyer Attributes
2.2.4.2.1.2 Key Manufacturers in France
2.2.4.2.1.3 Business Challenges
2.2.4.2.1.4 Business Drivers
2.2.4.2.2 Application
2.2.4.2.2.1 France Sustainable Tire Materials Market (by Vehicle Type), Volume and Value Data
2.2.4.2.2.2 France Sustainable Tire Materials Market (by Tire Structure), Volume and Value Data
2.2.4.2.2.3 France Sustainable Tire Materials Market (by Propulsion Type), Volume and Value Data
2.2.4.2.3 Product
2.2.4.2.3.1 France Sustainable Tire Materials Market (by Type of Material), Volume and Value Data
2.2.4.3 Germany
2.2.4.3.1 Market
2.2.4.3.1.1 Buyer Attributes
2.2.4.3.1.2 Key Manufacturers in Germany
2.2.4.3.1.3 Business Challenges
2.2.4.3.1.4 Business Drivers
2.2.4.3.2 Application
2.2.4.3.2.1 Germany Sustainable Tire Materials Market (by Vehicle Type), Volume and Value Data
2.2.4.3.2.2 Germany Sustainable Tire Materials Market (by Tire Structure), Volume and Value Data
2.2.4.3.2.3 Germany Sustainable Tire Materials Market (by Propulsion Type), Volume and Value Data
2.2.4.3.3 Product
2.2.4.3.3.1 Germany Sustainable Tire Materials Market (by Type of Material), Volume and Value Data
2.2.4.4 Spain
2.2.4.4.1 Market
2.2.4.4.1.1 Buyer Attributes
2.2.4.4.1.2 Key Manufacturers in Spain
2.2.4.4.1.3 Business Challenges
2.2.4.4.1.4 Business Drivers
2.2.4.4.2 Application
2.2.4.4.2.1 Spain Sustainable Tire Materials Market (by Vehicle Type), Volume and Value Data
2.2.4.4.2.2 Spain Sustainable Tire Materials Market (by Tire Structure), Volume and Value Data
2.2.4.4.2.3 Spain Sustainable Tire Materials Market (by Propulsion Type), Volume and Value Data
2.2.4.4.3 Product
2.2.4.4.3.1 Spain Sustainable Tire Materials Market (by Type of Material), Volume and Value Data
2.2.4.5 Rest-of-Europe
2.2.4.5.1 Market
2.2.4.5.1.1 Buyer Attributes
2.2.4.5.1.2 Key Manufacturers in Rest-of-Europe
2.2.4.5.1.3 Business Challenges
2.2.4.5.1.4 Business Drivers
2.2.4.5.2 Application
2.2.4.5.2.1 Rest-of-Europe Sustainable Tire Materials Market (by Vehicle Type), Volume and Value Data
2.2.4.5.2.2 Rest-of-Europe Sustainable Tire Materials Market (by Tire Structure), Volume and Value Data
2.2.4.5.2.3 Rest-of-Europe Sustainable Tire Materials Market (by Propulsion Type), Volume and Value Data
2.2.4.5.3 Product
2.2.4.5.3.1 Rest-of-Europe Sustainable Tire Materials Market (by Type of Material), Volume and Value Data
3.1 Competitive Benchmarking
3.1.1 Competitive Position Matrix for Sustainable Tire Materials Manufacturers
3.2 Market Share Analysis for Tire Manufacturers
3.3 Company Profiles
3.3.1 Type 1 Companies: Sustainable Tire Material Manufacturers
3.3.1.1 Evonik Industries AG
3.3.1.1.1 Company Overview
3.3.1.1.1.1 Role of Evonik Industries AG in the Sustainable Tire Materials Market
3.3.1.1.1.2 Product Portfolio
3.3.1.1.2 Corporate Strategies
3.3.1.1.2.1 Partnerships, Joint Ventures, Collaborations, and Alliances
3.3.1.1.3 Business Strategies
3.3.1.1.3.1 Product Developments
3.3.1.1.4 R&D Analysis
3.3.1.1.5 Analyst View
3.3.1.2 Solvay
3.3.1.2.1 Company Overview
3.3.1.2.1.1 Role of Solvay in the Sustainable Tire Materials Market
3.3.1.2.1.2 Product Portfolio
3.3.1.2.2 Corporate Strategies
3.3.1.2.2.1 Partnerships, Joint Ventures, Collaborations, and Alliances
3.3.1.2.2.2 Mergers and Acquisitions
3.3.1.2.3 Business Strategies
3.3.1.2.3.1 Product Developments
3.3.1.2.4 R&D Analysis
3.3.1.2.5 Analyst View
3.3.1.3 CONTEC
3.3.1.3.1 Company Overview
3.3.1.3.2 Role of CONTEC in the Sustainable Tire Materials Market
3.3.1.3.2.1 Product Portfolio
3.3.1.3.3 Analyst View
3.3.1.4 Black Bear Carbon B.V.
3.3.1.4.1 Company Overview
3.3.1.4.2 Role of Black Bear Carbon B.V. in the Sustainable Tire Materials Market
3.3.1.4.2.1 Product Portfolio
3.3.1.4.3 Analyst View
3.3.1.5 Genan Holding A/S
3.3.1.5.1 Company Overview
3.3.1.5.2 Role of Genan Holding A/S in the Sustainable Tire Materials Market
3.3.1.5.2.1 Product Portfolio
3.3.1.5.3 Corporate Strategies
3.3.1.5.3.1 Divestitures
3.3.1.5.3.2 Mergers and Acquisitions
3.3.1.5.4 Production Sites
3.3.1.5.5 Analyst View
3.3.1.6 Michelin
3.3.1.6.1 Company Overview
3.3.1.6.2 Role of Michelin in the Sustainable Tire Materials Market
3.3.1.6.2.1 Product Portfolio
3.3.1.6.3 Business Strategies
3.3.1.6.3.1 Product Developments
3.3.1.6.4 Corporate Strategies
3.3.1.6.4.1 Partnerships, Joint Ventures, Collaborations, and Alliances
3.3.1.6.5 R&D Analysis
3.3.1.6.6 Analyst View
3.3.1.7 Nokian Tyres plc
3.3.1.7.1 Company Overview
3.3.1.7.2 Role of Nokian Tyres plc in the Sustainable Tire Materials Market
3.3.1.7.2.1 Product Portfolio
3.3.1.7.3 Business Strategies
3.3.1.7.3.1 Product Developments
3.3.1.7.4 Corporate Strategies
3.3.1.7.4.1 Partnerships, Joint Ventures, Collaborations, and Alliances
3.3.1.7.5 R&D Analysis
3.3.1.7.6 Analyst View
3.3.1.8 Continental AG
3.3.1.8.1 Company Overview
3.3.1.8.2 Role of Continental AG in the Sustainable Tire Materials Market
3.3.1.8.2.1 Product Portfolio
3.3.1.8.3 Business Strategies
3.3.1.8.3.1 Product Developments
3.3.1.8.4 Corporate Strategies
3.3.1.8.4.1 Partnerships, Joint Ventures, Collaborations, and Alliances
3.3.1.8.5 R&D Analysis
3.3.1.8.6 Analyst View
4.1 Data Sources
4.1.1 Primary Data Sources
4.1.2 Secondary Data Sources
4.1.3 Data Triangulation
4.2 Market Estimation and Forecast
4.2.1 Research Methodology – Bottom – Up Approach
4.2.2 Factors for Data Prediction and Modeling
Table 1: Europe Sustainable Tire Materials Market Overview
Table 2: Sustainable Tire Materials Market: Business Drivers
Table 3: Impact of Business Restraints
Table 4: Impact of Business Opportunities
Table 5: Sustainable Tire Materials Market (by Region), Ton, 2022-2032
Table 6: Sustainable Tire Materials Market (by Region), $Million, 2022-2032
Table 7: U.K. Sustainable Tire Materials Market (by Vehicle Type), Ton, 2022-2032
Table 8: U.K. Sustainable Tire Materials Market (by Vehicle Type), $Million, 2022-2032
Table 9: U.K. Sustainable Tire Materials Market (by Tire Structure), Ton, 2022-2032
Table 10: U.K. Sustainable Tire Materials Market (by Tire Structure), $Million, 2022-2032
Table 11: U.K. Sustainable Tire Materials Market (by Propulsion Type), Ton, 2022-2032
Table 12: U.K. Sustainable Tire Materials Market (by Propulsion Type), $Million, 2022-2032
Table 13: U.K. Sustainable Tire Materials Market (by Sales Channel), Ton, 2022-2032
Table 14: U.K. Sustainable Tire Materials Market (by Sales Channel), $Million, 2022-2032
Table 15: U.K. Sustainable Tire Materials Market (by Type of Material), Ton, 2022-2032
Table 16: U.K. Sustainable Tire Materials Market (by Type of Material), $Million, 2022-2032
Table 17: Europe Sustainable Tire Materials Market (by Vehicle Type), Ton, 2022-2032
Table 18: Europe Sustainable Tire Materials Market (by Vehicle Type), $Million, 2022-2032
Table 19: Europe Sustainable Tire Materials Market (by Tire Structure), Ton, 2022-2032
Table 20: Europe Sustainable Tire Materials Market (by Tire Structure), $Million, 2022-2032
Table 21: Europe Sustainable Tire Materials Market (by Propulsion Type), Ton, 2022-2032
Table 22: Europe Sustainable Tire Materials Market (by Propulsion Type), $Million, 2022-2032
Table 23: Europe Sustainable Tire Materials Market (by Sales Channel), Ton, 2022-2032
Table 24: Europe Sustainable Tire Materials Market (by Sales Channel), $Million, 2022-2032
Table 25: Europe Sustainable Tire Materials Market (by Type of Material), Ton, 2022-2032
Table 26: Europe Sustainable Tire Materials Market (by Type of Material), $Million, 2022-2032
Table 27: Italy Sustainable Tire Materials Market (by Vehicle Type), Ton, 2022-2032
Table 28: Italy Sustainable Tire Materials Market (by Vehicle Type), $Thousand, 2022-2032
Table 29: Italy Sustainable Tire Materials Market (by Tire Structure), Ton, 2022-2032
Table 30: Italy Sustainable Tire Materials Market (by Tire Structure), $Thousand, 2022-2032
Table 31: Italy Sustainable Tire Materials Market (by Propulsion Type), Ton, 2022-2032
Table 32: Italy Sustainable Tire Materials Market (by Propulsion Type), $Thousand, 2022-2032
Table 33: Italy Sustainable Tire Materials Market (by Type of Material), Ton, 2022-2032
Table 34: Italy Sustainable Tire Materials Market (by Type of Material), $Thousand, 2022-2032
Table 35: France Sustainable Tire Materials Market (by Vehicle Type), Ton, 2022-2032
Table 36: France Sustainable Tire Materials Market (by Vehicle Type), $Thousand, 2022-2032
Table 37: France Sustainable Tire Materials Market (by Tire Structure), Ton, 2022-2032
Table 38: France Sustainable Tire Materials Market (by Tire Structure), $Thousand, 2022-2032
Table 39: France Sustainable Tire Materials Market (by Propulsion Type), Ton, 2022-2032
Table 40: France Sustainable Tire Materials Market (by Propulsion Type), $Thousand, 2022-2032
Table 41: France Sustainable Tire Materials Market (by Type of Material), Ton, 2022-2032
Table 42: France Sustainable Tire Materials Market (by Type of Material), $Thousand, 2022-2032
Table 43: Germany Sustainable Tire Materials Market (by Vehicle Type), Ton, 2022-2032
Table 44: Germany Sustainable Tire Materials Market (by Vehicle Type), $Thousand, 2022-2032
Table 45: Germany Sustainable Tire Materials Market (by Tire Structure), Ton, 2022-2032
Table 46: Germany Sustainable Tire Materials Market (by Tire Structure), $Thousand, 2022-2032
Table 47: Germany Sustainable Tire Materials Market (by Propulsion Type), Ton, 2022-2032
Table 48: Germany Sustainable Tire Materials Market (by Propulsion Type), $Thousand, 2022-2032
Table 49: Germany Sustainable Tire Materials Market (by Type of Material), Ton, 2022-2032
Table 50: Germany Sustainable Tire Materials Market (by Type of Material), $Thousand, 2022-2032
Table 51: Spain Sustainable Tire Materials Market (by Vehicle Type), Ton, 2022-2032
Table 52: Spain Sustainable Tire Materials Market (by Vehicle Type), $Thousand, 2022-2032
Table 53: Spain Sustainable Tire Materials Market (by Tire Structure), Ton, 2022-2032
Table 54: Spain Sustainable Tire Materials Market (by Tire Structure), $Thousand, 2022-2032
Table 55: Spain Sustainable Tire Materials Market (by Propulsion Type), Ton, 2022-2032
Table 56: Spain Sustainable Tire Materials Market (by Propulsion Type), $Thousand, 2022-2032
Table 57: Spain Sustainable Tire Materials Market (by Type of Material), Ton, 2022-2032
Table 58: Spain Sustainable Tire Materials Market (by Type of Material), $Thousand, 2022-2032
Table 59: Rest-of-Europe Sustainable Tire Materials Market (by Vehicle Type), Ton, 2022-2032
Table 60: Rest-of-Europe Sustainable Tire Materials Market (by Vehicle Type), $Thousand, 2022-2032
Table 61: Rest-of-Europe Sustainable Tire Materials Market (by Tire Structure), Ton, 2022-2032
Table 62: Rest-of-Europe Sustainable Tire Materials Market (by Tire Structure), $Thousand, 2022-2032
Table 63: Rest-of-Europe Sustainable Tire Materials Market (by Propulsion Type), Ton, 2022-2032
Table 64: Rest-of-Europe Sustainable Tire Materials Market (by Propulsion Type), $Thousand, 2022-2032
Table 65: Rest-of-Europe Sustainable Tire Materials Market (by Type of Material), Ton, 2022-2032
Table 66: Rest-of-Europe Sustainable Tire Materials Market (by Type of Material), $Thousand, 2022-2032
Table 67: Sustainable Tire Materials Market: Market Share Analysis by Tire Manufacturers, 2022
Table 68: Evonik Industries AG: Product and Service Portfolio
Table 69: Solvay: Product and Service Portfolio
Table 70: CONTEC: Product Portfolio
Table 71: Black Bear Carbon B.V.: Product Portfolio
Table 72: Genan Holding A/S: Product Portfolio
Table 73: Michelin: Product Portfolio
Table 74: Nokian Tyres plc: Product Portfolio
Table 75: Continental AG: Product Portfolio
Figure 1: Europe Sustainable Tire Materials Market Overview, $Million, 2022-2032
Figure 2: Europe Sustainable Tire Materials Market (by Propulsion Type), $Million, 2022-2032
Figure 3: Europe Sustainable Tire Materials Market (by Vehicle Type), $Million, 2022-2032
Figure 4: Europe Sustainable Tire Materials Market (by Tire Structure), $Million, 2022-2032
Figure 5: Europe Sustainable Tire Materials Market (by Sales Channel), $Million, 2022-2032
Figure 6: Europe Sustainable Tire Materials Market (by Type of Material), $Million, 2022-2032
Figure 7: Sustainable Tire Materials Market (by Region), $Million, 2022
Figure 8: Sustainable Tire Materials Market Supply Chain
Figure 9: Sustainable Tire Materials Market Supply Chain Participants
Figure 10: Tire Wear: Tire Characteristic Approach by Vehicle Type (Combustion Vehicles vs. Electric Vehicles)
Figure 11: Key Business Strategies
Figure 12: Product Developments (by Company), 2019-2023
Figure 13: Key Corporate Strategies
Figure 14: Mergers, Acquisitions, and Divestments
Figure 15: Partnerships, Joint Ventures, Collaborations, and Alliances
Figure 16: Tire Circular Economy Model
Figure 17: Competitive Benchmarking for Sustainable Tire Materials Manufacturers in the U.K.
Figure 18: Competitive Benchmarking for Sustainable Tire Materials Manufacturers in Europe
Figure 19: Competitive Benchmarking
Figure 20: Evonik Industries AG: R&D Expenditure, $Million, 2020 -2022
Figure 21: Solvay: R&D Expenditure, $Million, 2020 -2022
Figure 22: Michelin: R&D Expenditure, $Million, 2020 -2022
Figure 23: Nokian Tyres plc: R&D Expenditure, $Million, 2020 -2022
Figure 24: Continental AG: R&D Expenditure, $Million, 2020 -2022
Figure 25: Data Triangulation
Figure 26: Top-Down and Bottom-Up Approach
Europe Sustainable Tire Materials Market Report Coverage
|
Europe Sustainable Tire Materials Market |
|||
|
Base Year |
2022 |
Market Size in 2023 |
$24.0 Million |
|
Forecast Period |
2023-2032 |
Value Projection and Estimation by 2032 |
$358.5 Million |
|
CAGR During Forecast Period |
35.05% |
|
|
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Some of the prominent names in this market are:
• Evonik Industries AG
• Black Bear Carbon B.V.
• Michelin
How can this report add value to an organization?
Product/Innovation Strategy: The leading sustainable tire materials manufacturers are continuously working to develop new and innovative sustainable tire materials. The growing need for efficient, eco-friendly, and high-performing tires is one of the major factors for the growth of the sustainable tire materials market. The market is more on the consolidated side at present, where sustainable tire material manufacturers have been successful to a certain extent in strengthening their market position in the Europe market, with a few sustainable tire material manufacturers developing recovered carbon black, recycled rubber, and sustainable silica for sustainable tires. However, the competition in the market is expected to become intense as the demand for sustainable tire material increases from tire manufacturers to achieve sustainability targets. Moreover, partnerships and collaborations are expected to play a crucial role in strengthening market position over the coming years, with the companies focusing on bolstering their technological capabilities and gaining a dominant market share in the sustainable tire material industry.
Growth/Marketing Strategy: The sustainable tire materials market has been growing at a rapid pace. The market offers enormous opportunities for existing and emerging market players. Some of the strategies covered in this segment are mergers and acquisitions, product launches, partnerships and collaborations, business expansions, and investments. The strategies preferred by companies to maintain and strengthen their market position primarily include partnerships, agreements, and collaborations.
Competitive Strategy: The key players in the Europe sustainable tire materials market analyzed and profiled in the study include multiple sustainable tire material manufacturers and tire manufacturers. Moreover, a detailed competitive benchmarking of the players operating in the sustainable tire materials market has been done to help the reader understand the ways in which players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations are expected to aid the reader in understanding the untapped revenue pockets in the market.
Introduction to Europe Sustainable Tire Materials Market
The Europe sustainable tire materials market (excluding U.K.) is projected to reach $358.5 million by 2032 from $24.0 million in 2023, growing at a CAGR of 35.05% during the forecast period 2023-2032. The sustainable tire materials market is poised for growth due to increasing requests for eco-friendly tires and the incorporation of sustainable tire materials into the production of passenger and commercial vehicle tires. This growth is also fueled by ongoing developments and advancements in this field.
Market Introduction
The Europe sustainable tire materials market is experiencing notable growth and evolution, driven by the escalating demand for environmentally friendly tires across the continent. This surge in demand aligns with the broader global shift towards sustainability and eco-conscious consumer choices. Consumers and regulators in Europe are increasingly emphasizing the reduction of carbon emissions and promoting eco-friendly transportation solutions, which has spurred interest in sustainable tire materials. One of the factors contributing to this market's growth is the integration of sustainable tire materials into both passenger and commercial vehicle tire manufacturing processes. Manufacturers are recognizing the importance of eco-friendly tire options, which has led to the development and adoption of sustainable materials, including natural rubber alternatives and recycled materials.
Additionally, stringent environmental regulations and incentives in European countries are encouraging the use of sustainable tire materials, further boosting market prospects. As a result, the Europe sustainable tire materials market is poised for sustained expansion, offering eco-conscious consumers a greener and more responsible choice in tire options.
Market Segmentation:
Segmentation 1: by Type of Material
• Rubber
o Natural
o Recycled
• Sustainable Carbon Black
• Silica
• Others
Segmentation 2: by Propulsion Type
• Internal Combustion Engine Vehicles
• Electric Vehicles
Segmentation 3: by Vehicle Type
• Passenger Vehicles
• Commercial Vehicles
Segmentation 4: by Tire Structure
• Radial
• Bias
Segmentation 5: by Sales Channel
• OEMs
• Aftermarket
Segmentation 6: by Country
• Germany
• France
• Italy
• Spain
• Rest-of-Europe
Europe Sustainable Tire Materials Market
Analysis and Forecast, 2023-2032
Some Faq's
Frequently Asked Questions
Tire manufacturers , recovered carbon black manufacturers, green silica manufacturers and other sustainable tire materials manufacturers should buy this report.
The global sustainable tire materials market is projected to reach $533.9 million by 2032 from $34.9 million in 2022, growing at a CAGR of 32.88% during the forecast period 2023-2032.
Sustainable tire materials are environmentally friendly alternatives to traditional tire materials like synthetic rubber and petroleum-based chemicals. They are typically made from renewable resources or recycled materials, reducing the environmental impact of tire production.
The automotive industry, including passenger vehicles and commercial vehicles, is a significant driver of demand for sustainable tire materials. Additionally, industries focused on reducing carbon emissions and promoting eco-friendly transportation, such as electric vehicles and public transportation, contribute to the growing demand.
Sustainable tire materials help reduce the carbon footprint of tires by decreasing the reliance on fossil fuels and non-renewable resources. They also contribute to lower emissions during tire production and usage, making them a more environmentally responsible choice.
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