Composed of low rolling resistance (LRR) tires and "green" (sustainable) materials, the green tire industry is a fast-growing part of the overall tire industry. The rapid growth of the industry is partly due to the growth of the tire market itself, but mainly due to the growing public interest in sustainability. The global market for green tires is estimated by SMRs to be 101,400 thousand units in 2020, which will account for approximately 38% of the global tire industry. SMR Report for green tire market by 2027 predicts that value and quantity will increase by nearly 10.4% annually by 2027, when the volume reaches nearly 202.680 thousand units.
Green Tire Market Report Scope and Research Methodology
The report provides a comprehensive analysis of the Green Tire market size, growth, supply, demand, share, innovations, and recent developments, and key stakeholders can use the simple statistics, tables, and figures for strategic planning that leads to the organization’s success. The report includes a detailed analysis of the Green Tire market’s competitive landscape, as well as Company Profile, Revenue, Product Specifications, Production Capacity/Sales, Price, and Gross Margin Sales. The bottom-up approach was used to estimate the value of the and regional Green Tire markets. The data collected using both primary and secondary research methodologies was combined to make the Green Tire market report authentic and error-free. The analyst obtained these figures from Green Tire industry experts and the company. representatives and externally validated them by analysing historical data of these product types and applications in order to obtain an accurate Green Tire market size. To define, characterize, and analyse the Green Tire market competition landscape, SWOT analysis and Porter’s Five Force Analysis are used, with a focus on key players.
Green Tire Market Overview:
Stellar Market Research provides a brief description of the Green Tire Market, as well as the most recent market snapshots. These aids understanding of its features by providing an overview of the Green Tire market that highlights standard topics. This overview assists clients in comprehending the situation in the Green Tire industry.
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 Insights:
By providing detailed information on key players in each key country, the report assists clients in understanding the Green Tire market structure. It is a clear representation of local energy, economic, political, and geographic variables that is required for any meaningful evaluation of potential policy options in response to the development of the Green Tire market in each region. The report covers North America, Asia Pacific, Europe, South America, and the Middle East and Africa.
Green Tire Market Dynamics:
The main driver of the global Green Tire Market is the growth of the middle class and the consequent increase in vehicle ownership in emerging markets, especially in Asia. With growing concerns about greenhouse gas emissions and the limited availability of natural resources to meet the demands of more and more consumers, the industry is in the government and market for more sustainable products like green tires. As a result, tire manufacturers are promoting sustainable tire technology, including the inclusion of renewable rubber in their products that is equal to or better than traditional rubber. Many tire manufacturers have strategic partnerships with governments, researchers and biotechnology companies to drive the commercial development of renewable rubber.
Green Tire Market Segmentation:
Green tires are continually being optimized to achieve the lowest possible rolling resistance by means of fillers such as highly dispersible silica (HD silica or HDS), improved carbon blacks or nanotechnology. This segment accounted for most of the green tire market in 2018, and will predominate through 2027. Other materials are contributing, some also from the standpoint of reducing rolling resistance, but also from that of general sustainability. Improvements in synthetic rubber attributes and sustainability (i.e. nonpetroleum alternatives) and the increased use and supply of natural rubber are key areas of attention and innovation. Initially, the emerging green technologies will be small in volume and value, with greater commercial potential occurring after the forecast period.
Rising in tandem with green tire unit demand, raw materials consumption for green tires demand is estimated at over 17.8 million tons in 2018, growing to 38 million in 2027, according to SMR’s Future of Green Tires to 2023 market report. Elastomers, fillers and fabrics are the dominant categories by weight, 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 tire market.
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 are:
- What is Green Tire Market?
- What are the Green Tire Market segments?
- Which Green Tire market segment is expected to grow at a high rate during the forecast period?
- Who are the top players in the Green Tire market industry?
- What is the expected Green Tire Market size by 2029?
- What was the Green Tire Market size in 2021?
- Which region is expected to grow at a high CAGR?
- Who held the largest market share in Green Tire Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis of segments and sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- 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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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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