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.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), 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."
- Emphasizing on reducing emission by Minimizing Rolling Resistance of Tires
- Biodegradable Nature of Green tires Prove to be eco-friendly thus, proliferating its demand coupled by Favorable government moves
- Growing Focus From OEMs towards Energy Efficient Solution
- Growth in Alternatives Power trains Such as Hybrid and Electric Vehicles
- Unpredictibiliy of Raw Material Prices
Growing Need towards Fuel conservation Amid Scarcity of Fossil Fuels and Replacement of Conventional Tires By green one
Adverse impact on braking performance in case of replacement of green tiresí from conventional materials and Lack of awareness About Its Benefits
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