Tire Additives Market: an overview
Tire additives are specialized chemicals that are added to natural and synthetic rubber to manufacture tires with the desired property. These are added for various purposes such as performance-enhancing, durability boost, bonding of materials in tires, flame retarding and others. Tire additives serve multiple functions in tires such as antioxidants, antiozonants, binders and others. Chemicals and compounds that act as tire additives include thioacetic acid, para phenylene diamines (particularly 6PPD), TMQ, styrenated phenol, insoluble sulfur, carbon black, silica, plasticizers and others. The demand for tire additives is prominently driven by tire manufacturers.
Tire Additives Market: Dynamics
Tire additives are mainly added to rubber (natural, BR, SBR) to enhance the performance of the tire and protect the tire from UV rays & ozone in the atmosphere. These additives are expressed as parts per weight in the tire composition. The most prominently used tire additives are carbon black and silica. Carbon black imparts color to the tire and also acts as a bonding agent for other ingredients apart from absorbing the UV rays and heat of the sun. Silica is added to provide extra grip on wet roads and ice. Besides, silica is hard, and makes tire effective at resisting wear & tear caused due to abrasion. This helps to extend the life of a tire. Another important tire additive used is insoluble sulfur. It acts as a curing agent in tires. Certain protective tire additives are added, such as para phenylene diamines that act as antioxidants. Increasing global temperatures have boosted the use of these tire additives in the manufacturing of tires and develop new tire formulations with desired properties. Antiozonants are added to avoid cracking in the tires. Several performance talc are used as tire additives to reduce the rolling resistance and provide better fuel efficiency. The growth in the automobile industry is likely to boost the demand for tire additives. The demand for tire additives from tire manufacturers is ever-growing as the implementation of new environmental regulations by governments throughout the world is compelling them to use more environment-friendly tire additives. The emergence of electric vehicles is expected to boost the demand for talc-based tire additives to ensure high fuel efficiency in the vehicles.
Fluctuating crude oil prices and changes in government regulations in different countries are the main restraints to the growth of tire additive market as most of the tire additives are derived from crude oil and their derivatives. Besides many of these tire additives are toxic in nature. However, change in government regulations has opened new research opportunities to manufacture environment-friendly tire additives without compromising the quality and performance of the tires.
Tire Additives Market: Segments
On the basis of types of tire additives, the market can be segmented into:
- Performance resins
- Insoluble sulfur
- Bonding agents
On the basis of application, the tire additives market can be classified into:
- Automobile tires
- Aircraft tires
On the basis of geographical regions, the market is segmented into
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
Tire additives: Regional Outlook
The global demand for tire additives is expected to increase with the rising number of automobiles on the road. Rise in middle-class income and increase in young population are likely to boost the production of automobiles. The demand for tire additives in North America region is expected to rise moderately. Europe is also expected to show a similar trend. The demand from the Asia-Pacific region for tire additives is expected to remain high due to an increase in the production of automobiles in the region, especially in India. Automobile industry in India is witnessing a growth of around 8% whereas the global automobile production has decreased by 1.1%. The Middle East and Africa market is also growing at a consistent rate.
Tire additives: Key Players
There are many tire additive manufacturers across the globe. Some of the key players include:
Arkema S.A., Arkochem, BASF, Eastman, ExxonMobil, Gazprom Neft, Kraton Corporation, Lanxess, Orion Engineered Carbons, pmc-group, Shin-Etsu Chemical Co., Ltd. Sinochem, Solvay, Sumitomo Chemicals Co.Ltd, W. R grace & Co, ZEPPELIN SYSTEMS, nocil and others.
The research report presents a comprehensive assessment of the Tire additives market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Tire additives market report provides analysis and information, according to market segments such as geographies, application, and industry.
The Tire Additives Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Tire additives Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
- CIS & Russia
- Asia-Pacific (China, India, ASEAN, South Korea)
- Middle East & Africa (GCC Countries, South Africa)
The Tire additives report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The Tire additives report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The Tire additives report also maps the qualitative impact of various market factors on market segments and geographies.
The Tire Additives Market Report Highlights:
- A Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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