A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global Tire
Chemicals Market.
The study, titled “Tire
Chemicals Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2016 - 2026”,
is available for sale on the firm’s website.
A
tire can be made of various materials such as natural rubber,
synthetic rubber, synthetic textile, carbon black, fillers, stearic
acid, zinc oxide, plasticizers, accelerators, and antioxidants.
Although the major components of tire are natural rubber and
synthetic rubber, various tire chemicals play an important role in
tire manufacture. The raw materials used for this manufacture depend
upon the type of tire and its intended usage. Tires can be classified
into two basic types: on-road tires and off-the-road tires. Apart
from the tire type, the composition of tire also depends upon the
geographical conditions in which the tire is to be used mostly.
Hence, depending upon geographical conditions and the type of tire,
chemicals used in tire production vary. Tire chemicals used in
formulations modify the properties such as elasticity, traction,
rolling resistance, and weight of the tire.
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Highly
common rubber chemicals used in the tire production are carbon black,
sulfur, silica, stearic acid, antioxidants, zinc oxide, fillers, and
other plasticizers. Amongst all available tire chemicals, carbon
black is primarily used in the manufacture of tires. However, owing
to different environmental regulations and the increasing demand for
green tires, the market for carbon black is expected to be hampered
significantly during the forecast period. Specialty silica such as
highly dispersible silica has unique properties that reduce the
rolling resistance of tires and thereby, the fuel consumption of the
automobile. Silica is partially replacing carbon black in the tire
manufacturing industry, due to its ability to reduce the rolling
resistance and weight of the tire. This trend is expected to continue
during the forecast period.
Demand
for various tire chemicals is largely driven by the growing
automotive industry. The tire industry has witnessed various
deviations and developments over the last decade. Continuous demand
from the automotive industry for specific application tires has
offered lucrative opportunities to manufacturers of tire chemicals to
innovate and develop chemicals that serve specific purposes. This
trend of innovations and development is expected to continue during
the forecast period. However, sluggish growth of the automotive
industry is expected to hamper the tire industry and the tire
chemicals market during the forecast period.
In
terms of geography, the global tire chemicals market has been
segmented into North America, Europe, Asia Pacific, Latin America,
and Middle East & Africa. Asia Pacific is expected to dominate
the global tire chemicals market during the forecast period, owing to
excessive demand from the region. North America and Europe are likely
to follow Asia Pacific. However, the market in these regions is
likely to expand at a slow pace during the forecast period, due to
sluggish growth of the end-user industries. The tire chemicals market
in Latin America is projected to witness significant growth during
the forecast period, due to the growth of automotive and tire
industries in the region. The market in Middle East & Africa is
estimated to expand at a moderate rate during the forecast period.
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to view Sample Report:
The
global tire chemicals market is considerably fragmented; however, a
few manufacturers dominate the market. Some of the key players
operating in the global tire chemicals market include Eastman
Chemical Company, Cabot Corporation, Wacker Chemie AG, Dow Corning
Corporation, and Momentive Materials.
The
report offers a comprehensive evaluation of the market. It does so
via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
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