Dublin, Nov. 07, 2024 (GLOBE NEWSWIRE) — The “Sustainable Tire Market by Tire Material (Natural Rubber, Recycled Rubber, Silica-Based Compounds), Tire Type (Bias Tires, Radial Tires, Tubeless Tires), Technology, Vehicle Type, Application, End-user Industry, Sales Channel – Global Forecast 2025-2030” report has been added to ResearchAndMarkets.com’s offering.
The Sustainable Tire Market grew from USD 190.91 million in 2023 to USD 218.87 million in 2024. It is expected to continue growing at a CAGR of 16.87%, reaching USD 568.86 million by 2030.
The sustainable tire market focuses on developing environmentally friendly tire solutions that reduce carbon footprints, utilize sustainable materials, and enhance fuel efficiency. This market is driven by the necessity to address global environmental concerns and regulatory mandates on emissions and waste management in the automotive industry. The application of sustainable tires spans across various vehicle types, including passenger cars, commercial vehicles, and two-wheelers, thereby widening its end-use scope. Key factors influencing market growth include technological advancements in tire manufacturing, increased consumer awareness regarding environmental impacts, and stringent regulations imposed by governments worldwide.
The latest potential opportunities arise from the integration of advanced materials like sustainable rubber compounds, bio-oils, and recycled materials, which provide significant room for innovation and are expected to drive market expansion. However, challenges such as high initial costs of production, variability in performance metrics compared to traditional tires, and the complexity of developing universally applicable sustainable technologies present limitations to market growth.
Strategic recommendations for businesses include investing in R&D for versatile materials and processes to enhance tire durability and recyclability, collaborating with environmental agencies for better compliance, and leveraging artificial intelligence and IoT for predictive maintenance solutions. Furthermore, capitalizing on the growing trend of electric and autonomous vehicles can provide a niche market for high-technology sustainable tires designed specifically for these vehicles.
The nature of the market is increasingly competitive, with major tire manufacturers and startups focusing on sustainable innovation to attract environmentally conscious consumers. Areas ripe for innovation include the development of entirely biodegradable tires, exploring carbon-negative manufacturing processes, and utilizing blockchain for supply chain transparency, which are essential for capturing a substantial share in the evolving landscape of sustainable tires and achieving business growth.
Understanding Market Dynamics in the Sustainable Tire Market
The Sustainable Tire Market is rapidly evolving, shaped by dynamic supply and demand trends. These insights provide companies with actionable intelligence to drive investments, develop strategies, and seize emerging opportunities. A comprehensive understanding of market dynamics also helps organizations mitigate political, geographical, technical, social, and economic risks while offering a clearer view of consumer behavior and its effects on manufacturing costs and purchasing decisions.
- Market Drivers
- Rising collaborations with automotive manufacturers to integrate sustainable tires in new vehicle models
- Growing consumer preference for environmentally friendly and sustainable products.
- Supportive governmental regulations and policies to reduce carbon emissions
- Market Restraints
- High production costs and limited availability of sustainable tires
- Market Opportunities
- Innovations in tire recycling technologies to improve the management of tires
- Investment in R&D for the development of sustainable materials
- Market Challenges
- Lack of standardized guidelines and certification processes for sustainable tires
Key Company Profiles
The report delves into recent significant developments in the Sustainable Tire Market, highlighting leading vendors and their innovative profiles. These include Apollo Tyres, Bridgestone, Ceat Limited by RPG Group, Cheng Shin Rubber Industry Co., Ltd., Giti Tire, Hankook Tire & Technology Co., Ltd., KJS Cement (I) Ltd., Kumho Tire Co., Linglong Group, MRF, Nexen Corporation, Pirelli Tyre, Qingdao Doublestar Co., Ltd., Sailun Group, Schaeffler Technologies, Shandong Jinyu Tire Co., Ltd., Sumitomo Rubber Industries, The Goodyear Tire & Rubber Company, Titan International, Toyo Tire Corporation, Trelleborg, Triangle Tyre Co., Ltd., Yokohama Rubber Company and Zhongce Rubber Group.
Market Segmentation & Coverage
This research report categorizes the Sustainable Tire Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Tire Material
- Natural Rubber
- Organic Additives
- Synthetic Blends
- Recycled Rubber
- Crumb Rubber
- Reclaimed Rubber
- Silica-Based Compounds
- Synthetic Rubber
- Bio-Based Polymers
- Chemical Additives
- Natural Rubber
- Tire Type
- Bias Tires
- Agricultural Vehicles
- Commercial Trucks
- Radial Tires
- Light Trucks
- Passenger Cars
- Tubeless Tires
- Bias Tires
- Technology
- Airless Tires
- Self-Healing Tires
- Vehicle Type
- Commercial Vehicles
- Electric Vehicles
- Off-Road Vehicles
- Agricultural Equipment
- Construction Equipment
- Passenger Cars
- Two-Wheelers
- Application
- Off-Road
- On-Road
- Performance Tires
- End-User Industry
- Aerospace
- Commercial Aviation
- Military Aviation
- Agriculture
- Automotive
- Construction
- Heavy Machinery
- Light Machinery
- Aerospace
- Sales Channel
- Offline Sales
- Specialty Stores
- Supermarkets
- Online Sales
- Offline Sales
The report provides a detailed overview of the market, exploring several key areas:
- Market Penetration: A thorough examination of the current market landscape, featuring comprehensive data from leading industry players and analyzing their reach and influence across the market.
- Market Development: The report identifies significant growth opportunities in emerging markets and assesses expansion potential within established segments, providing a roadmap for future development.
- Market Diversification: In-depth coverage of recent product launches, untapped geographic regions, significant industry developments, and strategic investments reshaping the market landscape.
- Competitive Assessment & Intelligence: A detailed analysis of the competitive landscape, covering market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, technological advancements, and innovations in manufacturing by key market players.
- Product Development & Innovation: Insight into groundbreaking technologies, R&D efforts, and product innovations that will drive the market in future.
Additionally, the report addresses key questions to assist stakeholders in making informed decisions:
- What is the current size of the market, and how is it expected to grow?
- Which products, segments, and regions present the most attractive investment opportunities?
- What are the prevailing technology trends and regulatory factors influencing the market?
- How do top vendors rank regarding market share and competitive positioning?
- What revenue sources and strategic opportunities guide vendors’ market entry or exit decisions?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 198 |
| Forecast Period | 2024 – 2030 |
| Estimated Market Value (USD) in 2024 | $218.87 million |
| Forecasted Market Value (USD) by 2030 | $568.86 million |
| Compound Annual Growth Rate | 16.8% |
| Regions Covered | Global |
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
5.1. Market Dynamics
5.2. Market Segmentation Analysis
5.3. Porter’s Five Forces Analysis
5.4. PESTLE Analysis
6. Sustainable Tire Market, by Tire Material
6.1. Introduction
6.2. Natural Rubber
6.2.1. Organic Additives
6.2.2. Synthetic Blends
6.3. Recycled Rubber
6.3.1. Crumb Rubber
6.3.2. Reclaimed Rubber
6.4. Silica-Based Compounds
6.5. Synthetic Rubber
6.5.1. Bio-Based Polymers
6.5.2. Chemical Additives
7. Sustainable Tire Market, by Tire Type
7.1. Introduction
7.2. Bias Tires
7.2.1. Agricultural Vehicles
7.2.2. Commercial Trucks
7.3. Radial Tires
7.3.1. Light Trucks
7.3.2. Passenger Cars
7.4. Tubeless Tires
8. Sustainable Tire Market, by Technology
8.1. Introduction
8.2. Airless Tires
8.3. Self-Healing Tires
9. Sustainable Tire Market, by Vehicle Type
9.1. Introduction
9.2. Commercial Vehicles
9.2.1. Heavy Trucks
9.2.2. Light Trucks
9.3. Electric Vehicles
9.4. Off-Road Vehicles
9.4.1. Agricultural Equipment
9.4.2. Construction Equipment
9.5. Passenger Cars
9.5.1. Compact Cars
9.5.2. Luxury Cars
9.6. Two-Wheelers
10. Sustainable Tire Market, by Application
10.1. Introduction
10.2. Off-Road
10.2.1. Agriculture
10.2.2. Mining
10.3. On-Road
10.3.1. Highways
10.3.2. Urban Areas
10.4. Performance Tires
10.4.1. Racing
10.4.2. Sports Cars
11. Sustainable Tire Market, by End-User Industry
11.1. Introduction
11.2. Aerospace
11.2.1. Commercial Aviation
11.2.2. Military Aviation
11.3. Agriculture
11.3.1. Harvesters
11.3.2. Tractors
11.4. Automotive
11.4.1. Aftermarket
11.4.2. OEM’s
11.5. Construction
11.5.1. Heavy Machinery
11.5.2. Light Machinery
12. Sustainable Tire Market, by Sales Channel
12.1. Introduction
12.2. Offline Sales
12.2.1. Specialty Stores
12.2.2. Supermarkets
12.3. Online Sales
13. Americas Sustainable Tire Market
14. Asia-Pacific Sustainable Tire Market
15. Europe, Middle East & Africa Sustainable Tire Market
16. Competitive Landscape
16.1. Market Share Analysis, 2023
16.2. FPNV Positioning Matrix, 2023
16.3. Competitive Scenario Analysis
16.3.1. Continental unveils innovative sustainable tire solutions for trucks and buses
16.3.2. Goodyear launches EcoReady tire with 70% sustainable materials
16.4. Strategy Analysis & Recommendation
Companies Featured
- Apollo Tyres Ltd.
- Bridgestone Corporation
- Ceat Limited by RPG Group
- Cheng Shin Rubber Industry Co., Ltd.
- Giti Tire Pte. Ltd.
- Hankook Tire & Technology Co., Ltd.
- KJS Cement (I) Ltd.
- Kumho Tire Co., Inc.
- Linglong Group Co., Ltd.
- MRF Limited
- Nexen Corporation
- Pirelli Tyre S.p.A.
- Qingdao Doublestar Co., Ltd.
- Sailun Group Co., Ltd.
- Schaeffler Technologies AG & Co. KG.
- Shandong Jinyu Tire Co., Ltd.
- Sumitomo Rubber Industries, Ltd.
- The Goodyear Tire & Rubber Company
- Titan International, Inc.
- Toyo Tire Corporation
- Trelleborg AB
- Triangle Tyre Co., Ltd.
- Yokohama Rubber Company, Limited
- Zhongce Rubber Group Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/28dv6w
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