Green tires are sustainable tires made up of highly dispersible silica (HD silica or HDS), natural rubber and improved carbon black with an aim to provide energy efficiency by having low rolling resistance. As per leading rubber and plastics expertise Smithers Rapra data of 2018, around 40% of total tires are green one with demand expected to grow in the forecasted period. Emergence of electric and hybrid vehicles expected to add another feather in sustainable tires market cap amid challenge about the unpredictability of raw materials loom large.
|Unit||Value (USD Million)|
|Key Companies Profiled||PPG Industries Inc. (United States), Apollo (India), Pirelli Tyre SpA (Italy), Bridgestone (Japan), Green Arc Tire Manufacturing (Canada), Goodyear Tire & Rubber (United States), Michelin North America (United States), Continental (Germany), Maxxis (Taiwan), Hankook Tire (South Korea) and Kumho Tire (South Korea)|
This growth is primarily driven by Emphasizing on reducing emission by Minimizing Rolling Resistance of Tires and Biodegradable Nature of Green tires Prove to be eco-friendly thus, proliferating its demand coupled by Favorable government moves.
Globally, a noticeable market trend is evident Growing Focus From OEMs towards Energy Efficient Solution
Major Vendors, such as PPG Industries Inc. (United States), Apollo (India), Pirelli Tyre SpA (Italy), Bridgestone (Japan), Green Arc Tire Manufacturing (Canada), Goodyear Tire & Rubber (United States), Michelin North America (United States), Continental (Germany), Maxxis (Taiwan), Hankook Tire (South Korea) and Kumho Tire (South Korea), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
"The replacement market for green tires has also grown through better consumer education and awareness provided by the European Unionís consumer tire labelling plan that rates tire rolling resistance and other performance variables. Regulatory and labelling plans promoting OE and replacement LRR tires are expanding beyond Europe, too, and could possibly be coming to the U.S. OE market penetration is catching up to European levels in other regions with discussions taking place in the US."
Growing Focus From OEMs towards Energy Efficient Solution and Growth in Alternatives Power trains Such as Hybrid and Electric Vehicles
Market Growth Drivers:
Emphasizing on reducing emission by Minimizing Rolling Resistance of Tires and Biodegradable Nature of Green tires Prove to be eco-friendly thus, proliferating its demand coupled by Favorable government moves
Adverse impact on braking performance in case of replacement of green tiresí from conventional materials and Lack of awareness About Its Benefits
Unpredictibiliy of Raw Material Prices
Growing Need towards Fuel conservation Amid Scarcity of Fossil Fuels and Replacement of Conventional Tires By green one
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Green Tires Market
- Analysis about New Entrants in Green Tires Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Green Tires Study Sheds Light on
The Green Tires Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Green Tires industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Green Tires industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.