The green tyre industry, which is made up of low rolling resistance (LRR) tyres and "green" (sustainable) materials, is a rapidly growing segment of the overall tyre industry. The industry's rapid growth is due in part to the expansion of the tyre market, but primarily to the growing public interest in sustainability. SMRs estimates that the global market for green tyres will be 101,400 thousand units in 2020, accounting for approximately 38% of the global tyre industry. According to the SMR Report for the Green Tyre Market by 2027, the value and quantity will increase by nearly 10.4% annually by 2027, when the volume will reach nearly 202.680 thousand units.
Green Tire Market Report Scope and Research Methodology:
The report includes an in-depth analysis of the strategies of the industry's leading players, as well as a thorough examination of the various market segments and geographies. SWOT analysis was used to determine the Green Tire key players' strengths and weaknesses. A comprehensive analysis of Green Tire market dynamics, including drivers, restraints, opportunities, and challenges, is provided for each region and segment. The Green Tire Market report also includes figures for import/export consumption, supply and demand, price, cost, revenue, and gross margins. For accurate inferences, the data collected through primary and secondary research and analysed by SMR analysts on Green Tire Market was combined. To gather information for the Green Tire Market report on critical factors such as market trends and market dynamics. Primary interviews were conducted to gather information on size, growth trends, competitive landscape, outlook, and so on, while secondary information was gathered from sources such as annual or financial reports, government documents, company websites, industry white papers, paid databases, and free databases. To estimate the and regional Green Tire Market size, the bottom-up approach was used.
Green Tire Market Report Overview:
The study is based on major company forecasts as well as Green Tire Market statistics. During the forecast period, the Green Tire Market Report provides growth variables, current market share, various types, technologies, applications, and regional penetrations by 2029.
Green Tire Market size was volume at 101,400 thousand units in 2020 and the total Green Tire Market volume is expected to grow at 10.4% through 2021 to 2027, reaching nearly 202,680 thousand units.
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Green Tire Market Regional Analysis:
- The primary geographic condition of the market, as well as segments and sub-segments, are investigated in the Green Tire Industry Research. The report describes the current state of the regional market in terms of market size, share, and volume. The Green Tire market report includes an examination of all regions:
- Europe
- North America
- Asia-Pacific
- the Middle East and Africa
- Latin America
Green Tire Market Segmentation:
Green tyres are constantly being optimised to achieve the lowest rolling resistance possible through the use of fillers such as highly dispersible silica (HD silica or HDS), improved carbon blacks, or nanotechnology. This segment dominated the green tyre market in 2018 and will continue to do so until 2027. Other materials are contributing, some in terms of reducing rolling resistance, but also in terms of overall sustainability. Improvements in synthetic rubber characteristics and sustainability (i.e. nonpetroleum alternatives), as well as increased use and supply of natural rubber, are key areas of focus and innovation. Initially, the volume and value of emerging green technologies will be small, with greater commercial potential occurring after the forecast period.
According to SMR's Future of Green Tyres to 2023 market report, raw materials consumption for green tyres is estimated to be over 17.8 million tonnes in 2018, rising to 38 million in 2027. By weight, elastomers, fillers, and fabrics are the dominant categories, and growth will be led by sustainable ones such as natural rubber and rayon fabric, with synthetic rubbers showing the least growth in the green tyre market.
Raw material advancements have been responsible for advances in rolling resistance and sustainability. Improvements in elastomers (e.g., functionalized) and fillers (carbon black), as well as other inputs such as oils and fabrics, play an important role in green tyre material consumption.
Solvay, a representative of the growing use of silica in tyres, is producing Highly Dispersible Silica (HDS) at its new plant in Poland. Every year, the plant produces 85,000 tonnes of HDS for use in green tyres. Solvay claims that using its advanced silica grades in tyres can reduce vehicle fuel consumption by up to 7%. In addition, the company began production at a new silica plant in South Korea, which is expected to increase annual capacity by nearly 50%.
Green Tire Market Key Players: Michelin (France) Bridgestone (Japan) Goodyear Tire and Rubber (US) Continental (Germany) Hankook (South Korea), Pirelli (Italy) Cheng Shin Rubber (China) Kumho Tires (South Korea) ZC Rubber (China) Nokian Tires (Finland) Apollo tires (India), Sailun Tires (China) Shandong Linlong Tire (China) Kenda Tires (Taiwan) Giti Rubber (Singapore) Cooper (US) Yokohama (Japan) Nexen (South Korea) MRF (India) Petlas (Turkey) BKT (India)
Key Questions answered in the Green Tire Market Report are:
- What is Green Tire Market?
- What will be the CAGR of the Green Tire market during the forecast period?
- Which region held the largest Green Tire market share?
- What are the factors driving the Green Tire market growth?
- What are the opportunities for the Green Tire Market?
- What factors are restraining the Green Tire market growth?
- Which company held the largest share in the Green Tire market?
- What key trends are likely to emerge in the Green Tire market in the coming years?
- Which segment of the Green Tire market is expected to grow at a high rate during the forecast period?
Key offerings:
- Past Market Size and Competitive Landscape
- Past Pricing and price curve by region
- Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segments and sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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