Global Tire Chemicals Market Research Report: Forecast (2025-2030)

1. MARKET RESEARCH REPORT Global Tire Chemicals Market Research Report: Forecast (2025-2030) MARKNTEL ADVISORS

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4. Market Insights 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.

5. Market Drivers Global Tire Chemicals 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.

6. Market Segments Tire Chemicals Market Report - By Application Type (Automobile Tires, [Passenger Car, Two & three Wheeler, LCV, M & HCV, OTR], Others (Aircraft Tires, Marine Tires, etc.)), By Chemical Type (Rubbers, [Natural Rubber, Synthetic Rubber], Antioxidants, [Amine Antioxidants, Phenolic Antioxidants, Heterocyclic Antioxidants], Antiozonants, Fillers, [Carbon Black, Silica], Vulcanization Chemicals, [Sulphur, Zinc Oxide]) and Others

7. Top Companies Birla Carbon, Von Bunditt Company Ltd., 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., and others

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