Tire Chemicals Market valued at approximately USD 110 billion by 2030 With CAGR of 4.5 %

A Quick Overview of Tire Chemicals Market

The key object of this report on the Tire Chemicals Market is to offer worthy data and a geographical perspective for predictions of market growth in the future. The recommendations added in this detailed report are insightful, and actionable offering a deep understanding of the industry. Moreover, it includes a comprehensive importance of aspects that have impacted the industry.

MarkNtel Advisors has recently studied an extensive market intelligence evaluation on the Tire Chemicals Market. Also, the newly released report exhibits an engaging format that comprises compelling graphs, tables, charts, and figures as well. These seamlessly combined visual aids are designed to support the clarity and accuracy of the details presented, offering analysts a deep knowledge of the topic at hand.

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Tire Chemicals Market Scenario:

The Global Tire Chemicals Market size is valued at around USD 80 billion in 2024 and is projected to reach USD 110 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4.5 % during the forecast period, i.e., 2025-30. The Global Tire Chemicals Market is driven by the expansion of production of passenger cars, two-wheelers, and demand for LCV and M & HCV. The total global production of automobile vehicles in 2023 was approximately 93.54 million units showing an increase of 10% from the 84.83 million units in 2022, according to the facts from OICA. Thus, the growing automobile units are projecting the growth prospects for tire production and tire chemicals manufacturing companies.

Tire Chemicals Market - Industry Dynamics, Size, And Opportunity Forecast To 2030:

Market Driver - Expanding Automobile Industry

Globally, the disposable income of individuals is growing, which is resulting in rising sales of vehicles. The logistics requirements owing to augmenting e-commerce have also stimulated the sales of commercial vehicles. All these driving factors of the automobile industry are ultimately creating the demand for tire chemicals. Easy financing solutions also increase the sale of vehicles by providing loans, EMIs, etc. The transportation industry is expanding due to the rising trend of rental services. Moreover, the global sale of automobile vehicles has increased to 92.74 million units in 2023 from 82.71 million units in 2022, as per the facts provided by the OICA. Further, from the total sale of vehicles in 2023, 65.27 million units were of passenger cars, while 27.45 million units were of commercial vehicles. Thus, every year, the expanding automobile industry creates the demand for more and more tires, which ultimately keeps the demand for tire chemicals higher and helps in the growth of the Global Tire Chemicals Market.

Tire Chemicals Market Segmentation Analysis:

Tire Chemicals Industry, analyzes, identifies, and highlights the main trends and drivers which are affecting each segment of the market. The market has been further divided into the following categories:

By Application Type

Automobile Tires- Market Size & Forecast 2020-2030, Thousand Tons
- Passenger Car- Market Size & Forecast 2020-2030, Thousand Tons
- Two & three Wheeler - Market Size & Forecast 2020-2030, Thousand Tons
- LCV - Market Size & Forecast 2020-2030, Thousand Tons
- M & HCV - Market Size & Forecast 2020-2030, Thousand Tons
- OTR - Market Size & Forecast 2020-2030, Thousand Tons
Others (Aircraft Tires, Marine Tires, etc.)- Market Size & Forecast 2020-2030, Thousand Tons

By Chemical Type

Rubbers- Market Size & Forecast 2020-2030, Thousand Tons
- Natural Rubber- Market Size & Forecast 2020-2030, Thousand Tons
- Synthetic Rubber- Market Size & Forecast 2020-2030, Thousand Tons
Antioxidants- Market Size & Forecast 2020-2030, Thousand Tons
- Amine Antioxidants - Market Size & Forecast 2020-2030, Thousand Tons
- Phenolic Antioxidants- Market Size & Forecast 2020-2030, Thousand Tons
- Heterocyclic Antioxidants- Market Size & Forecast 2020-2030, Thousand Tons
Antiozonants- Market Size & Forecast 2020-2030, Thousand Tons
Fillers- Market Size & Forecast 2020-2030, Thousand Tons
- Carbon Black- Market Size & Forecast 2020-2030, Thousand Tons
- Silica- Market Size & Forecast 2020-2030, Thousand Tons
Vulcanization Chemicals- Market Size & Forecast 2020-2030, Thousand Tons
- Sulphur- Market Size & Forecast 2020-2030, Thousand Tons
- Zinc Oxide- Market Size & Forecast 2020-2030, Thousand Tons

By Region

North America
South America
Europe
The Middle East & Africa
Asia-Pacific- Market Size & Forecast 2020-2030, Thousand Tons.

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Who are the Key Market Players in the Tire Chemicals Market?

In the fast-changing Tire Chemicals Market, understanding what our competitors are doing is crucial. By carefully analyzing things, we figured out some of the dominating players in the industry. So, the top companies of the Tire Chemicals market ruling the industry are:

List of Key Companies Profiled:

Birla Carbon
Von Bunditt Company Ltd.
Business Description
Cabot Corporation
Sinochem International
Evonik Industries AG
Phillips Carbon Black Limited
Eastman Chemicals Company
Sumitomo Chemical Company Limited
Orion Engineered Carbon S.A
Lanxess AG
BASF
Solvay SA/NV
ExxonMobil Corporation
Emery OleoChemicals
Arkema Chemicals Pvt. Ltd.

Global Tire Chemicals Recent Development:

2024: Birla Carbon announced the construction of two new carbon black plants in Niadupet, Andhra Pradesh, India, and Rayong, Thailand.

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