#agriculture tires market forecast
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Agriculture Tires Market is Projected to Reach US$12.5 Bn by the End of 2027
The global agriculture tires market is anticipated to cross the US$12.5 Bn revenue mark towards the end of 2027, as against US$10 Bn revenue generated in 2022. As per the Fairfield Market Research report, the market is set to witness robust growth, maturing at a sterling CAGR of 4.1%, during the projection timeframe of 2021 – 2027. With a major emphasis on mechanising farming activities, there has been robust development in the domain. After spiralling sales of agriculture tires in the fiscal year of 2022, long-term growth opportunities are likely to prevail in the European region, unlocking new growth prospects for the global agriculture tires industry. Anticipating these trends, a heavy influx of investments is projected to be observed in emerging economies, setting the stage for robust developments across these potential markets.
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Robust Adoption of High-end Technologies in Developed Economies to Aid Market Expansion
Paced adoption of tires is being witnessed in the agriculture sector as compared to the mining and construction industries. In recent years there has experienced a surge in the launch of agricultural vehicles. This is majorly attributed to the rising spending capacity of people, especially in developed and developing economies, and an uptick in off-road activities. Such factors are assuring influential growth across the global agriculture tires market. Countries in Europe lack manpower and are extensively rich in arable land. A conducive cultivation environment and incorporation of cutting-edge technologies are translating into numerous opportunities for the region’s agriculture sector. Sophisticated technological developments soundly backed by higher per capita income among the farmers are further fueling the overall market growth. High-end technologies are being leveraged to bolster agricultural revenue and production, catalysing growth across the global agriculture tires market.
Asia Pacific’s Pace Prevails amid Rising Demand for Food, and Advancements in Farming Technologies
With accelerated demand from the agricultural sector, Asia Pacific emerges as a regional leader in the global agriculture tires market. China and India are among the frontier nations upholding regional market growth. A rise in manufacturing activities and major developments in farming technologies is spearheading growth across the agricultural industry. This, in turn, increased the demand for agriculture tires in the region. The establishment of manufacturing facilities in the region, the presence of manufacturers, and the low-cost availability of labour are all creating positive market dynamics. Moreover, ease in availability of raw materials, growing demand for food production, and favourable government policies are creating promising outlooks for agricultural industry growth.
Prominent Market Players
Some of the major players holding strong positions in the global agriculture tires market include Titan Tire Corporation, Sumitomo Rubber Industries Ltd., The Yokohama Rubber Co., Ltd., Bridgestone Corporation, Pirelli & C. S.p.A., Continental Aktiengesellschaft, Trelleborg AB, Compagnie Générale des Établissements Michelin (CGEM), Goodyear Tire & Rubber Company, Balkrishna Industries Limited, and Prometeon Tyre Group S.r.l.
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Agricultural Tire Market In-depth Analysis till 2028 |Michelin, Bridgestone, Pirelli, Trelleborg, AGT, BKT, Mitas, Sumitomo, Nokian, and Titan International
Agricultural Tire Market In-depth Analysis till 2028 |Michelin, Bridgestone, Pirelli, Trelleborg, AGT, BKT, Mitas, Sumitomo, Nokian, and Titan International
Global Agricultural Tire Market Size, Status and Forecast 2022-2028
This report studies the Agricultural Tire Marketwith many aspects of the industry like the market size, market status, market trends and forecast, the report also provides brief information of the competitors and the specific growth opportunities with key market drivers. Find the complete Agricultural Tire market analysis…
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#Agricultural Tire forecast#Agricultural Tire Industry#Agricultural Tire Market#Agricultural Tire price#Agricultural Tire report#Agricultural Tire research#Agricultural Tire share#Agricultural Tire trends#Covid-19 Impact Analysis
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What are the Priority Areas of Indian Agriculture that needs Support?
Priority Areas of Indian Agriculture that needs Support:
1. Improving agricultural output, business viability, and rural development:
Growing the use of cutting-edge tools and improving agricultural study and outreach: One of the most crucial requirements for agricultural development in India is a comprehensive overhaul and strengthening of the country's extension infrastructure as well as agricultural research. Because of the tremendous amount of underfunding of operations as well as infrastructure, little replacement of retiring researchers, and limited access to cutting-edge technologies, these services have steadily deteriorated over time. There is very little new that can be found through research that isn't already available in tired old packages. The public sector's extension services are in a bind, and they don't have much new to teach farmers. Neither research nor extension, nor the private sector, are adequately connected.
Agriculture in India is the largest user of water, hence proper management of irrigation and drainage systems is essential. The necessity for multi-sectoral planning, river basin, as well as management of water has been brought into focus by the rising rivalry for water among industrial, home, and agricultural uses. Because of rising demands in the industry, households, and agriculture, the amount of water available for irrigation is expected to decrease. We need to figure out how to get far more out of irrigation. Drip irrigation and piped water supply are two examples of more effective delivery methods that could be implemented.
The usage of groundwater must also be managed, rather than exploited. Efforts to discourage water use by, say, increasing the cost of power or having the community keep tabs on consumption, have not yet achieved widespread success. It is also important to improve cost recovery; (ii) rationalise all the public expenditures by prioritising the completion of schemes that gives the highest possible returns; (iii) allocate sufficient resources for operations and maintenance; and (iv) allocate sufficient resources for operations and maintenance to ensure the sustainability of investments in irrigation and drainage systems. Book My Crop is a unique platform that brings farmers and buyers together for buying and selling agriculture products online in India.
To encourage farmers to expand their product ranges to include higher-value items, we can use: Particularly in the areas that are dependent on rain and with extreme poverty, encouraging farmers to shift to better-value commodities will be a crucial driver for increased agricultural growth. And there's a lot of room for agro-processing to grow and for competitive value chains to be established from farms to cities to overseas markets. Farmers and business owners should take the lead on diversification efforts, but the government may help by easing regulations on things like distribution and processing. It can also serve a limited regulatory role, however, care must be taken to prevent this from becoming a barrier.
Agricultural sub-sectors with considerable growth potential include the dairy industry, which needs to be supported. Over a quarter of India's agricultural GDP comes from the livestock industry, mostly because of dairy, and it provides a living for 70% of rural families, most of which are low-income and headed by women. Milk output has increased rapidly, by around 4% annually, while domestic consumption is forecast to increase by a minimum of 5% annually in the years to come. However, milk output is limited by a variety of variables, including genetically low-quality cows, a lack of feed, and a lack of veterinary care. Reduced poverty and increased output would likely result from a programme specifically designed to address these bottlenecks.
India's history of heavy government engagement in agri-marketing has led to trade barriers both domestically and internationally, making the distribution and sale of agricultural products difficult and expensive. Investment from the private sector in areas such as advertising, supply networks, and food processing is on the rise, albeit at a far slower rate than it could be. Although certain limitations are being removed, much more must be done to facilitate diversification and reduce prices for consumers. Because it is still so hard for farmers to secure credit, there is also a need to make rural finance more accessible to them. Further, power, fertiliser, and irrigation subsidies have gradually grown to dominate government spending in the sector, and today are almost four times greater than investment expenditures, which has pushed aside other important priorities like agricultural research and extension. Are you a bulk buyer or wholesaler of agri-products looking to buy agriculture products online, Book My Crop is an excellent platform to buy-sell agriculture products, market them and get the needed exposure as well as grab the attention of buyers across the globe.
2. Community initiatives and the reduction of poverty:
Even though agricultural expansion will lay the groundwork for higher wages for the roughly 170 million rural BPL (below the poverty line), residents, supplementary efforts are needed to ensure that everyone benefits from this expansion. For instance, it has been determined that a rural livelihoods programme that helps people set themselves up for success is ideally suited for expansion. Increased community savings and support for local initiatives to boost incomes and jobs are two of the many positive outcomes of this programme. By joining together to form larger organisations, poor communities are able to exert more influence over their local governments and secure better economic and social conditions for their members, as well as better access to markets for their goods. Women and low-income families can benefit the most from these self-help groups. Are you a farmer looking to sell agriculture products online in India? Book My Crop is the right place for you to market your crops and attract potential buyers.
3. Preserving natural resources and ensuring the continued success of the agricultural sector:
Due to over-pumping, groundwater levels are decreasing in several regions of India, threatening agricultural production. However, in some irrigated regions, water-logging is causing soil salts to accumulate. Most of the rural population relies on rain-fed agriculture, so farmers there need to change their methods to prevent soil erosion and make the most of the water they receive. The overuse and degradation of forest land necessitate preventative action. Practically all of these issues have tried and true answers. The most thorough approach is watershed management programmes, in which communities plan their land use and implement agricultural methods that preserve soil health, boost water absorption, and boost productivity through increased yields and diversified cropping.
The question, though, is how to expand the reach of such programmes to more regions of the country. The impact of climate change is another factor to consider. Droughts, floods, and unpredictable rain patterns are all predicted to become more common, with the biggest impact felt in areas that rely on precipitation from the sky. With the help of certain initiatives by agricultural extension as well as research, the watershed programme may be the best agricultural programme for fostering the development of novel crop types and enhanced farming techniques. Nonetheless, it's possible that other initiatives, including the livelihoods programme and the growth of non-farm jobs, are equally crucial.
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OTR Tires Market Size, Share, Trends & Forecast by 2027
According to a research report "OTR Tires Market by Application & Equipment (Construction & Mining, Tractors, Industrial Vehicle, ATV), Tractor Tracks by Power Output, Type (Radial, Solid, Bias), Rim Size, Retreading (Application, Process), Aftermarket, Region - Global Forecast to 2027" published by MarketsandMarkets, the OTR Tires market is projected to grow from USD 8.7 billion in 2022 to USD 11.4 billion by 2027, at a CAGR of 5.5% over the forecast period.
Browse 467 market data Tables and 75 Figures spread through 401 Pages and in-depth TOC on "OTR Tires Market by Application & Equipment (Construction & Mining, Tractors, Industrial Vehicle, ATV), Tractor Tracks by Power Output, Type (Radial, Solid, Bias), Rim Size, Retreading (Application, Process), Aftermarket, Region - Global Forecast to 2027"
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In European countries, owing to the war in Ukraine, there is growth in infrastructure and farming activities. Additionally, the Ukrainian people are shifting to other countries, creating housing needs. Such factors are responsible for growth in infrastructural and farming activities across the globe, impacting the OTR tires market. Another factor impacting the market is the increasing mining activites in Asian, African and Latin American regions. Due to the high demand for the extraction of minerals and ores, mining equipment is in demand, impacting the OTR tires market.
31-70 HP tractors lead the demand for OTR tires in the agricultural tractors segment.
The 31-70 HP tractor segment has significant demand in highly populated countries with low arable land per capita. For example, arable land per capita in countries such as China and India is below 0.1 hectare/person, indicating that there are more farm owners in these countries compared to other countries. In addition, subsidies provided by the government for low-income farmers have fuelled these countries mechanization rates. For example, the subsidy named Macro-Management Agricultural Schemes by the Indian government, where a 25% subsidy is given to farmers who buy tractors with 35HP. This high demand for tractors fueled by the need for higher throughput from agricultural activities aided by governing body subsidies will drive the OTR tire market.
Wheeled Loaders >80 HP will hold a major market share in the OTR Tires Market for Construction & Mining applications
A wheeled loader uses an arm to lift and lower its bucket, and a bell crank is used to open and close its bucket. They can lift anything, such as debris, gravel, soil, dirt, pallets, etc.; hence, wheeled loaders have higher demand in construction and mining. Construction projects worldwide have seen a significant upturn in approvals as the effects of the pandemic has subsided. For example, the Mumbai-Delhi, 1,350 km expressway in India, started in 2019 and is expected to be constructed by 2025. Corridor 11 Pozega to Boljare Motorway in central Serbia is worth USD 2.2 billion and is expected to be completed by 2029. Such large-scale projects require moving large volumes of materials to fuel the demand for wheeled loaders. As the demand for such heavy-duty equipment increases globally, it is likely that the demand for the OTR tires used in these equipment will also see a significant rise.
Asia Pacific region to dominate the global OTR Tires market
China and India are projected to hold the largest shares of the market owing to the rural population. The sale of small drives the sales volume of OTR tires in these countries (<30HP, 31-70HP) tractors. These countries generate demand for metals and minerals due to their large population. The growing economy has allowed them to sanction large-scale construction and mining projects, thus driving the sales of construction and mining equipment and OTR Tires. China has discovered 173 minerals and has proven reserves in 163, ranking third globally after US and Russia. With the implementation of the Made in China 2025 strategy, the enormous potential and growth of the economy transitioning to a high-quality development stage will continue to boost demand for minerals. According to India Brand Equity Foundation (IBEF), India has earmarked USD 1 trillion for investment in developing infrastructure. Grand-scale construction projects will deploy several construction equipment for their execution. Japan has a small mining sector but a large construction sector whose growth is driven by the rebuilding activities after the earthquakes and tornados frequenting the nation. Rebuilding activities demand more construction equipment, which would drive the OTR tire market in Japan. Construction companies in South Korea are generating revenues from local construction projects and overseas projects. The mining sector in South Korea generated a revenue of 1.4 billion USD in 2021. The South Korean mining industry is currently dominated by industrial minerals, comprising 78% limestone – which is used for lime and cement clinker production.
Thus, the large construction and mining sector and rising demand for high agricultural output drives the demand for the equipment used in these sectors, making Asia Pacific region the leader of the OTR tires market by region.
Key Market Players:
The OTR Tires industry is dominated by global players and comprises several regional players, including Continental AG(Germany), Bridgestone Corporation (Japan), Michelin (France), Goodyear (US), and Pirelli (Italy).
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Airless Tires Market Insights: Comprehensive Global Forecast (2023-2032)
The global demand for Airless Tires was valued at USD 1102.2 million in 2023 and is expected to reach USD 1709.8 million in 2032, growing at a CAGR of 5.00% between 2024 and 2032.
Airless tires market is a burgeoning sector within the broader automotive and transportation industry, characterized by the development and commercialization of tires that do not require air pressure to maintain their shape and functionality. These tires, also known as non-pneumatic tires (NPT), are constructed from durable materials like rubber and plastic composites, often featuring a unique spoke or honeycomb structure that provides support and flexibility. The market is driven by several key factors, including the increasing demand for maintenance-free and puncture-proof tires, which offer enhanced reliability and longevity compared to traditional pneumatic tires. Airless tires are particularly appealing for use in harsh environments and applications such as military vehicles, construction machinery, and agricultural equipment, where the risk of punctures is high and downtime is costly.
Despite the higher initial cost and some limitations in ride comfort and speed compared to conventional tires, the market is poised for significant growth, driven by the increasing emphasis on sustainability, safety, and cost-efficiency in vehicle operations. The adoption of airless tires is expected to expand as these technological and economic benefits become more pronounced, making them a viable alternative in various vehicle segments.
Airless Tires: Key Points
Construction:
Made from durable materials such as rubber and plastic composites.
Often feature a unique structural design, such as spokes or a honeycomb pattern, to provide support and flexibility.
Advantages:
Puncture-Proof: Eliminate the risk of flats and blowouts, enhancing safety and reliability.
Maintenance-Free: Require less maintenance compared to traditional pneumatic tires, as they do not need to be inflated.
Durability: Typically have a longer lifespan due to their robust construction.
Applications:
Ideal for use in harsh environments and demanding applications, such as military vehicles, construction machinery, and agricultural equipment.
Increasingly being explored for mainstream automotive use, including passenger cars and light trucks.
Performance:
Improved reliability in challenging conditions where traditional tires are prone to punctures.
Some limitations in ride comfort and speed performance compared to conventional pneumatic tires.
Market Drivers:
Growing demand for maintenance-free and puncture-resistant tires.
Advancements in materials and manufacturing technologies improving the feasibility and performance of airless tires.
Emphasis on sustainability, safety, and cost-efficiency in vehicle operations.
Higher initial cost compared to traditional tires.
Limited availability and adoption in the consumer market.
Ongoing development needed to enhance ride comfort and performance.
Future Outlook:
The market for airless tires is expected to grow as technological advancements continue and the benefits of airless tires become more widely recognized.
Potential for significant adoption in various vehicle segments as the technology matures and becomes more cost-effective.
Major Key Players-
Ameritire Corporation
Bridgestone Corporation
Continental AG
Hankook Tire & Technology Co., Ltd.
Michelin
Sumitomo Rubber Industries, Ltd.
The Goodyear Tire & Rubber Company
Toyo Tire Corporation
The Yokohama Rubber Co., Ltd.
Trelleborg
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Airless Tires Market Trends-
Technological Advancements:
Continuous innovation in materials and design to enhance the performance and durability of airless tires.
Development of advanced manufacturing techniques to reduce production costs and improve scalability.
Increased R&D Investment:
Major tire manufacturers, including Michelin and Bridgestone, are heavily investing in research and development to refine airless tire technology.
Focus on improving ride comfort, load-bearing capacity, and speed capabilities.
Commercialization and Pilot Programs:
Several companies are conducting pilot programs and field tests in collaboration with automotive and industrial partners.
Early commercialization efforts targeting niche markets such as military, construction, and agriculture.
Sustainability Focus:
Growing emphasis on sustainability is driving interest in airless tires, which offer reduced waste and longer service life compared to traditional tires.
Potential for airless tires to be made from recyclable materials, further enhancing their environmental appeal.
Automotive Industry Adoption:
Increasing exploration of airless tires for use in passenger cars and light trucks, driven by the promise of maintenance-free operation and enhanced safety.
Potential integration with electric and autonomous vehicles, which require low-maintenance and reliable tire solutions.
Regulatory Support and Safety Standards:
Development of industry standards and regulatory frameworks to ensure the safety and performance of airless tires.
Government and industry initiatives to promote the adoption of innovative tire technologies.
Consumer Awareness and Acceptance:
Growing consumer awareness of the benefits of airless tires, including their puncture-proof nature and reduced maintenance needs.
Education and marketing efforts by manufacturers to highlight the advantages and address any concerns related to ride quality and cost.
Cost Reduction Efforts:
Ongoing efforts to reduce the manufacturing and material costs of airless tires, making them more competitive with traditional pneumatic tires.
Economies of scale expected as production volumes increase and technology matures.
Expansion into New Markets:
Exploration of new market opportunities in emerging economies where infrastructure development and industrial activities are growing.
Potential for significant market growth in regions with harsh operating conditions that benefit from the durability and reliability of airless tires.
Partnerships and Collaborations:
Collaboration between tire manufacturers, automotive companies, and technology firms to accelerate the development and deployment of airless tires.
Strategic partnerships to leverage expertise and resources, facilitating faster market penetration and innovation.
Segmentation
By Material Composition:
Rubber-based Airless Tires
Polyurethane-based Airless Tires
Plastic-based Airless Tires
Composite-based Airless Tires
Others
By Type of Airless Tires:
Radial Airless Tires
Bias Airless Tires
Belted Airless Tires
Non-Belted Airless Tires
By Application:
Military and Defense Vehicles
Off-road Vehicles (e.g., ATVs, UTVs, golf carts)
Commercial and Industrial Vehicles (e.g., forklifts, skid steers, construction equipment)
Lawn and Garden Equipment (e.g., lawn mowers, tractors, wheelbarrows)
Bicycles and Electric Scooters
Wheelchairs and Mobility Aids
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Global Top 4 Companies Accounted for 39% of total Curing Bladder market (QYResearch, 2021)
Curing is the process of applying pressure to the green tire in a mold in order to give it its final shape, and applying heat energy to stimulate the chemical reaction between the rubber compounds and other materials.
In this process the green tire is automatically transferred onto the lower mold bead seat, a rubber bladder is inserted into the green tire, and the mold closes while the bladder inflates. As the mold closes and is locked the bladder pressure increases so as to make the green tire flow into the mold, taking on the tread pattern and sidewall lettering engraved into the mold. The bladder is filled with a recirculating heat transfer medium, such as steam, hot water, or inert gas. At the end of cure, the pressure is bled down, the mold opened, and the tire stripped out of the mold.
According to the new market research report “Global Curing Bladder Market Report 2023-2029”, published by QYResearch, the global Curing Bladder market size is projected to reach USD 0.72 billion by 2029, at a CAGR of 4.7% during the forecast period.
Figure. Global Curing Bladder Market Size (US$ Million), 2018-2029
Above data is based on report from QYResearch: Global Curing Bladder Market Report 2023-2029 (published in 2023). If you need the latest data, plaese contact QYResearch..
Figure. Global Curing Bladder Top 10 Players Ranking and Market Share (Ranking is based on the revenue of 2022, continually updated)
Above data is based on report from QYResearch: Global Curing Bladder Market Report 2023-2029 (published in 2023). If you need the latest data, plaese contact QYResearch.
The global key manufacturers of Curing Bladder include Lanxess, Continental, Shandong Xishui Yongyi Rubber, Sntai, Runtong Rubber, etc. In 2022, the global top four players had a share approximately 39.0% in terms of revenue.
About QYResearch
QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 16 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.
QYResearch is a world-renowned large-scale consulting company. The industry covers various high-tech industry chain market segments, spanning the semiconductor industry chain (semiconductor equipment and parts, semiconductor materials, ICs, Foundry, packaging and testing, discrete devices, sensors, optoelectronic devices), photovoltaic industry chain (equipment, cells, modules, auxiliary material brackets, inverters, power station terminals), new energy automobile industry chain (batteries and materials, auto parts, batteries, motors, electronic control, automotive semiconductors, etc.), communication industry chain (communication system equipment, terminal equipment, electronic components, RF front-end, optical modules, 4G/5G/6G, broadband, IoT, digital economy, AI), advanced materials industry Chain (metal materials, polymer materials, ceramic materials, nano materials, etc.), machinery manufacturing industry chain (CNC machine tools, construction machinery, electrical machinery, 3C automation, industrial robots, lasers, industrial control, drones), food, beverages and pharmaceuticals, medical equipment, agriculture, etc.
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Crumb Rubber Market to Cross US$ 2.4 Bn by 2031
The crumb rubber market to expand to a CAGR of 4.8% during the forecast period from 2021 to 2031. The increasing use of crumb rubber in various applications such as construction materials, automotive components, and asphalt substitutes fuels the growth of the crumb rubber market.
The growth of the construction industry, wherein crumb rubber is used as a crucial component of concrete structures, fuels the expansion of the crumb rubber market. Crumb rubber is increasingly used as a cost-effective asphalt substitute for road construction. With increasing raw material costs for asphalt and asphalt alternatives, crumb rubber is increasingly substituting them for the demand for high-performance road construction materials used to prevent cracks and holes.
Crumb rubber is recycled rubber obtained by recycling automotive and truck scrap ties. Recycling involves removing steel and tire cords to leave tire rubber with a granular consistency, which further reduces particle size with continued processing.
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North America is anticipated to account for substantial revenue to the crumb rubber market over the forecast period. The substantial demand for crumb rubber for applications in sports surfaces, construction materials, and automotive components is fueling the expansion of the crumb rubber market in the region.
Market Segmentation:
By Service Type:
Crumb Rubber Production
Crumb Rubber Distribution
Crumb Rubber Application Services
By Sourcing Type:
Post-consumer Recycled Rubber
Post-industrial Recycled Rubber
By Application:
Sports Surfaces
Tire Manufacturing
Construction
Automotive Components
Others
By Industry Vertical:
Automotive
Construction
Sports & Leisure
Infrastructure
Others
By Region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Regional Analysis:
North America: Leading the market due to stringent environmental regulations and high awareness regarding sustainability.
Europe: Embracing crumb rubber in various sectors, driven by eco-conscious consumer preferences and government initiatives.
Asia Pacific: Witnessing rapid adoption in emerging economies like China and India, fueled by infrastructure development and automotive industry growth.
Market Drivers and Challenges:
Drivers:
Increasing focus on sustainable practices and circular economy models.
Rising demand for recycled materials in manufacturing processes.
Favorable government policies promoting tire recycling and waste reduction.
Challenges:
Quality control and standardization of crumb rubber products.
Volatility in raw material prices affects production costs.
Limited awareness and infrastructure in developing regions.
Market Trends:
Technological Advancements: Innovations in recycling technologies leading to higher-quality crumb rubber.
Product Diversification: Expansion into new applications such as noise barriers, playground surfaces, and agricultural use.
Strategic Partnerships: Collaborations between industry players and research institutions for R&D and market expansion.
Future Outlook:
The crumb rubber market is poised for significant growth driven by sustainable development initiatives and increasing adoption across diverse industries. Advancements in recycling technologies, coupled with rising environmental awareness, will fuel market expansion globally.
Key Market Study Points:
Market Size and Growth Rate Analysis
Competitive Landscape and Key Players' Strategies
Regulatory Environment and Impact on Market Dynamics
Technological Innovations and Product Developments
Regional Market Trends and Opportunities
Competitive Landscape and Recent Developments:
Key players in the crumb rubber market include:
Liberty Tire Recycling LLC
Crumb Rubber Manufacturers
Entech Inc.
Genan Holding A/S
Emanuel Tire Co.
Recent developments include partnerships for innovative recycling solutions, expansions into new geographical markets, and product diversification to meet evolving industry demands.
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The Off-highway Electric Vehicle Market Size Revolution: Innovation and Disruption
Off-Highway Electric Vehicle Market Size:
Understanding the size of the off-highway electric vehicle (OHEV) market is essential for stakeholders to make informed decisions and strategize effectively. The market size represents the total value of all off-highway electric vehicles sold within a specific timeframe and geographic region. This analysis aims to provide insights into the current and future Off-Highway Electric Vehicle Market Size, including key factors influencing market growth.
Current Market Size:
The current size of the global off-highway electric vehicle market is substantial and continues to grow steadily. As of [insert year], the market size is estimated to be [insert value] billion USD. This figure encompasses sales of electric excavators, loaders, tractors, forklifts, and other off-highway equipment across various industries such as construction, agriculture, mining, and forestry.
Factors Influencing Market Growth:
1. Environmental Concerns: Increasing awareness about environmental sustainability and the need to reduce carbon emissions is driving the adoption of off-highway electric vehicles. Governments worldwide are implementing stringent emission regulations, incentivizing the transition towards cleaner energy alternatives.
2. Technological Advancements: Advancements in battery technology, electric drivetrain systems, and autonomous operation are enhancing the performance and efficiency of off-highway electric vehicles. Innovations such as fast-charging solutions, regenerative braking, and telematics are further propelling market growth.
3. Government Incentives: Governments are offering subsidies, tax incentives, and grants to promote the adoption of off-highway electric vehicles. These incentives reduce the upfront costs for end-users and encourage investment in electric technology by manufacturers.
4. Cost Savings: Off-highway electric vehicles offer significant cost savings over their diesel-powered counterparts in terms of fuel expenses, maintenance, and operational costs. This cost-effectiveness drives demand for electric equipment across various industries.
5. Infrastructure Development: The establishment of charging infrastructure is essential for the widespread adoption of off-highway electric vehicles. Governments and industry stakeholders are investing in infrastructure development to support the growing fleet of electric vehicles.
Future Market Size:
The future size of the off-highway electric vehicle market is projected to witness robust growth in the coming years. By [insert future year], the market size is forecasted to reach [insert projected value] billion USD. Factors such as continued technological advancements, supportive governmental policies, and increasing demand for sustainable solutions are expected to drive market expansion.
Conclusion:
The off-highway electric vehicle market is witnessing significant growth driven by environmental consciousness, technological innovation, and governmental support. The current market size is substantial, and future projections indicate continued growth opportunities. By understanding the factors influencing market growth and adapting strategies accordingly, stakeholders can capitalize on the expanding off-highway electric vehicle market and contribute to a more sustainable future.
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Tire Market Size, Share, Growth, Forecast Report
In the world of transportation, the tire industry stands as a cornerstone, providing the essential grip for vehicles of all kinds. From automotive to aviation, tires play a pivotal role in ensuring safety, performance, and efficiency. In this blog, we'll roll through the terrain of the tire market, examining its current landscape, trends, challenges, and the myriad business opportunities it presents.
Tire Market Overview
The tires market boasts a substantial size, propelled by the incessant demand for vehicles across diverse segments. Automotive Tires Market size was valued at USD 104.48 Billion in 2021 and is projected to reach USD 121.56 Billion by 2030, growing at a CAGR of 5.02% from 2023 to 2030. With the automotive industry at its core, the market extends its reach to aviation, agriculture, and off-road vehicles. As the global population continues to urbanize and motorization accelerates, the demand for tires is poised for consistent growth.
Tire Industry Analysis: Rolling Insights
The tire industry is a dynamic and evolving landscape, driven by technological advancements, sustainability concerns, and the ever-changing needs of various sectors. Comprehensive tire industry analysis is essential for understanding market dynamics, from manufacturing trends to consumer preferences.
Tires Market Trends: Shaping the Future
Keeping an eye on tires market trends is crucial for manufacturers and consumers alike. From the rising demand for eco-friendly and sustainable tires to the integration of smart technologies, staying ahead of trends is key to success in this competitive industry.
Automotive Tires Market: Driving Innovation
The automotive sector is a major consumer of tires, with constant innovation in materials and tread designs enhancing performance, safety, and fuel efficiency. The automotive tires market is witnessing a shift towards smart tires that monitor conditions and provide real-time data for improved driving experiences.
Tire Industry Research Reports: In-Depth Exploration
In an industry as multifaceted as tires, research reports play a vital role in providing detailed insights. Whether focusing on market dynamics, consumer behavior, or technological advancements, tire industry research reports are indispensable tools for decision-makers.
Tire Market Business Opportunities: Where Rubber Meets the Road
The tire market presents a myriad of business opportunities, from manufacturing and distribution to technological advancements. Entrepreneurs and investors can explore niche markets, such as specialty tires for specific vehicles or regions, to capitalize on untapped potential.
Tire Market Challenges: Navigating Bumps in the Road
While the tire market offers significant opportunities, it also comes with challenges. From fluctuating raw material prices to global supply chain disruptions, industry players must navigate these challenges with resilience and adaptability.
Tires Market Growth Factors: Accelerating Progress
Several factors contribute to the growth of the tires market, including increased vehicle production, urbanization, and the expansion of the logistics and transportation sectors. Understanding these growth factors is essential for strategic planning and market positioning.
Tire Market Insights: Traction for Decision-Making
In a rapidly changing market, tire market insights provide the traction needed for informed decision-making. From consumer preferences to emerging technologies, staying informed is crucial for manufacturers, distributors, and retailers.
Tire Market Research Reports: Steering Success
Investing in tire market research reports can be a game-changer for businesses looking to stay ahead of the curve. These reports offer comprehensive analyses of market trends, competitor landscapes, and future projections.
Tyre Industry Market Share: The Competitive Landscape
Monitoring tyre industry market share is essential for businesses to understand their position in the competitive landscape. Analyzing market share trends helps companies identify opportunities for growth and areas that may need strategic adjustments.
Airplane Tires: Soaring Above Expectations
Beyond the roads, airplane tires occupy a unique niche in the tire market. With specific size requirements and stringent safety standards, airplane tires represent a specialized segment that demands precision and reliability.
Airplane Tires Size: The Importance of Precision
The size of airplane tires is a critical factor in ensuring safety and performance. Manufacturers must adhere to strict specifications to meet the diverse needs of different aircraft, from small private planes to commercial airliners.
All-Terrain Vehicle Tires: Off-Road Adventures
For off-road enthusiasts, all-terrain vehicle (ATV) tires are a crucial component for a thrilling and safe adventure. The ATV tires market caters to a diverse range of vehicles, from recreational off-roaders to utility ATVs used in various industries.
Conclusion:
As we journey through the vast and intricate terrain of the tire market, it's clear that this industry is not just about rubber meeting the road; it's about innovation, adaptability, and meeting the diverse needs of consumers and industries. From automotive to aviation, the tire market continues to evolve, presenting both challenges and opportunities. By staying informed, embracing trends, and navigating the road ahead with resilience, businesses can ensure they are well-positioned for success in this dynamic and essential industry.
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Farm Tires
The Farm Tires market is estimated to be valued at over US$ 4,167 million in 2019, with a projected CAGR of 5.3% from 2018 to 2028. Unit sales are expected to reach over 18,676 units in 2019. The global revenue surge in the farm tires market is fueled by the rapid mechanization in the agriculture sector and the increased sales of tractors, a trend expected to persist throughout the forecast period. These tires, known for their large amounts of natural rubber, are designed to handle heavy-duty fieldwork. Additionally, the rising demand for very high flexion tractor tires is anticipated to further drive global sales.
A significant factor boosting global farm tire sales is the potential shift from bias-ply to radial-ply tires, driven by the growing demand for tractors worldwide. The sales of these tires are directly influenced by the increasing market demand for tractors, with over 3.8 million tractors sold between 2017 and 2018. Moreover, technological advancements play a pivotal role in agriculture tire sales, with a surge in demand for very high flexion (VF) and increased flexion (IF) tires due to the growing weight of machinery.
Product development and pricing strategies have a substantial impact on overall sales, with farmers and end-users leaning towards cost-effective tire options. This heightened competition in the sector.
Global Farm Tires Market Size and Forecast: Regional Analysis
Asia Pacific Dominates: Asia Pacific dominated global sales in 2018, driven by substantial sales in China and India, which accounted for over half of the total tractor sales in 2018. The region still holds untapped market potential for farm tire manufacturers and vendors. The aftermarket segment holds a significant market share in Asia Pacific. While OEM presents a substantial revenue opportunity, the limited number of tractor and heavy machinery manufacturers has resulted in fewer farm tire vendors. The region's demand is led by tractors and harvesters, followed by trailers and suits. New entrants and small-scale players often focus on the aftermarket to maintain agility.
North America - A Key Destination: North America is a crucial market for manufacturers, registering a slowdown in net agriculture output in 2017. However, this had a negligible impact on overall farm tire sales, indicating the relatively higher spending capacity in the region. While the industry is experiencing optimistic growth, declining commodity costs could impact farmers' spending capacity, leading to sluggish demand for agriculture tires. Unlike Asia Pacific, North America is expected to witness moderate growth in sales, with market consolidation and leading players holding a major share.
Global Farm Tires Market Size and Forecast: Competition Landscape
The industry is highly competitive, with a significant number of midsize and large-scale enterprises. The majority of manufacturers focus on supplying tires for tractors below 40 HP worldwide. Key players in the Farm Tires market include:
Bridgestone Corp.
Titan Corporation
Balkrishna Industries Limited
Sumitomo Rubber Industries Ltd.
Continental AG
Goodyear Tire & Rubber Company
TBC Corporation
Yokohama Rubber Company
Industry Segmentation
By Vehicle Type:
Tractors
Conventional Tractors
Driverless Tractors
Harvesters
Implements
Others
By Tire Type:
Bias
Radial
By Distribution Channel:
OEM
Aftermarket
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The Chile Off-the-Road (OTR) Tire Market is expected to grow at around 3.23% CAGR during the forecast period, i.e., 2021-26. The growth of the market is driven primarily by the mounting demand for earthmoving & construction equipment tires for infrastructural & residential construction activities in the country, coupled with massive investments by the government of Chile in the mining sector and construction activities associated with roads, railways, residential & commercial buildings, seaport & airport expansion, etc. Moreover, the burgeoning requirement for tractors and the increasing expenditure on various agricultural programs to boost farm mechanization are also driving the market.
#Chile Off-the-Road (OTR) Tire Market#Chile Off-the-Road (OTR) Tire Market news#Chile Off-the-Road (OTR) Tire Market Growth
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Airless Tires Market: Industry Potential, Trends and forecast to 2032
Airless Tires Market is projected to cross USD 85 Mn by 2032. Increasing investments in the defense sector would support the deployment of airless tire technology in military vehicles. These tires can endure tough terrain and other environmental conditions. Features like puncture resistance and reduced weight would eliminate the need for military vehicles to carry a spare tire. This further reduces the weight of these vehicles and cuts the time used to repair punctured tires. Ongoing geopolitical tensions and conflicts between nations would ramp up the demand for military vehicles fitted with airless tires. For instance, the recent Russia-Ukraine conflict has driven the demand for combat vehicles over the last year.
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Airless tires market share from the passenger & commercial vehicle segment is anticipated to observe more than 19.5% CAGR between 2023 and 2032. Rising sales for passenger vehicles and a need for puncture-resistant tires will drive product penetration. Many industry players are working on developing new airless tires specifically for the commercial sector. For instance, in 2023, Michelin partnered with DHL to test the airless tire dubbed Uptis. As part of this partnership, more than 50 DHL express vans will be using puncture-proof tires in Singapore by the end of 2023.
As per the report, the airless tires industry size from the rubber material segment is expected to surpass USD 30 million by 2032. Airless tires made using rubber function as a movable cushion and can better withstand the impact of vibrations and automobile-based shocks. New innovations in rubber technology will aid market players to develop advanced airless rubber tires. For instance, in 2020, Goodyear announced that it will launch tires using sustainable materials by the end of 2030. The company will also begin testing an airless tire on delivery robots at Ohio’s Bowling Green State University. Such developments are expected to boost the airless tire market growth in the coming years.
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According to the research report, North America airless tires market is expected to be worth USD 23 million by 2032. In the US, ATVs are used for emergency medical response, land management, ranching and farming, small-scale forest activities, etc. The use of ATVs for agriculture purposes is high as it eases the process of farming like sowing seeds, applying chemicals, inspecting the farm, and much more. As the demand for ATVs increases, the application of airless tires in ATVs will also increase. New product launches and advancements in airless tire technology would foster regional market growth.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Airless Tires Market industry 3600 synopsis, 2018 – 2032
2.1.1 Business trends
2.1.2 Vehicle trends
2.1.3 Material trends
2.1.4 Product trends
2.1.5 Sales channel trends
2.1.6 Regional trends
Chapter 3 Airless Tires Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2018 – 2032
3.2.1 COVID-19 impact on industry landscape
3.3 Industry ecosystem analysis
3.3.1 Raw material suppliers
3.3.2 Manufacturers
3.3.3 Distribution chain analysis
3.3.4 Sales Channel
3.3.5 ) Shareholder profit margin analysis
3.3.6 Vendor matrix
3.4 Regulatory landscape
3.5 Technology and innovation landscape
3.6 Patent analysis
3.7 Pricing analysis
3.7.1 Cost structure analysis
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.1.1 Growing demand for all terrain and military vehicles
3.8.1.2 Technological advancements in the products
3.8.1.3 Superior product efficiency as compared to conventional products
3.8.2 Industry pitfalls & challenges
3.8.2.1 Manufacturing complexity and high product cost
3.9 Porter’s analysis
3.10 PESTEL analysis
3.11 Russia-Ukraine war impact analysis
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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OTR Tires Market worth 3.4% CAGR by 2028 - A Press Release by IHR Insights
Bangalore, July 5th - Off the road tires are mostly used for the heavy duty vehicles for off-road purpose in various industries. These tiers offer great grip over uneven surfaces and various off-the-road vehicles such as cranes, loaders, telescopic handlers, tractors, all-terrain vehicles, trucks and specialized purpose vehicles. These tires are equipped with extreme tread patterns which assist in the vehicle grip in off-road conditions or high terrains off the road.
OTR tire manufacturers are continually investing in research and development to improve tire performance, durability, and resistance to wear and tear. Technological advancements contribute to increased tire lifespan, fuel efficiency, and overall performance, which drive the market growth. Furthermore, the mining industry is a significant driver of the OTR tires market, and as demand for minerals and metals continues to grow, the need for heavy machinery equipped with OTR tires will increase. As new mining projects are developed and existing ones are expanded, the demand for OTR tires for mining equipment, such as haul trucks and loaders, will rise.
In addition, the global infrastructure development, including road construction, bridges, and other large-scale projects, creates opportunities for the OTR tires market. The construction industry relies on heavy equipment equipped with OTR tires for earthmoving and material handling operations.
The OTR Tires Market research report titled as “OTR Tires Market based on Types, Vehicle Types, End Use and Geography - Forecast up to 2028”
Bridgestone Corporation MICHELIN, Prometeon Tyre Group S.R.L., YOKOHAMA Rubber CO. Ltd., China Rubber Tire & Rubber Co. Ltd these are the players dominating in the market.
Owing to the factors such as increasing investments from the government in construction activities, rapidly expanding manufacturing industry and rapid urbanization the Asia Pacific region is has major role in the OTR tires market growth.
The report consists of ---- Tables-112 and charts-68 depicting the in-depth market study and the impact analysis of COVID-19 by Vendor name. View detailed TOC here.
OTR Tires Market based on Types:
· Radial Tires
· Bias Tires
OTR Tires Market based on Vehicle Types:
· Loaders
· Dump Truck
· Graders
· Cranes
· Dumpers
· Tractors
· Forklifts
· Others
OTR Tires Market based on End Use:
· Construction and Mining
· Industrial
· Agricultural
· Others
OTR Tires Market based on Geography:
· North America
· Europe
· Asia Pacific
· Rest of the World
Read More from our OTR Tires Market report.
For further information and inquiries, please contact:
Marketing & Communications
IHR Insights
[email protected]
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Nitrogen Prices, Pricing, Demand & Supply, Market Analysis | ChemAnalyst
For the Quarter Ending June 2023
North America:
During the second quarter of 2023, nitrogen prices in North America experienced a downward trend. This can be attributed to weak demand from downstream industries and a decrease in inquiries faced by nitrogen gas producers. Despite the low cost of domestic nitrogen production, the overall market is declining. The lack of interest in the product in the upstream fer market has resulted in limited domestic nitrogen supply in the US market. Industrial output and production costs have fluctuated in line with natural gas prices. Additionally, various factors such as the US House of Representatives suspending the debt ceiling rate, a federal court order halting the construction of a controversial natural gas pipeline, and the Union Strike of the West US protest have impacted the overall functioning of activities in the country.
APAC:
In the Asia-Pacific region, nitrogen prices during the second quarter of 2023 remained relatively high due to increased demand from sectors such as fertilizer, mining, metals, and electronics. Natural gas prices also remained positive throughout the quarter. In the Indian market specifically, nitrogen prices surged due to high demand from the packaging and pharmaceutical sectors. Inventories were sufficient, and industrial output showed a significant upward trend. The purchasing index in the country was the highest compared to other regions, indicating consistent demand for the product. Nitrogen gas is used extensively in the healthcare sector for its additive properties and is also used in various other applications, such as tire inflation. The implementation of new agricultural policies and government subsidies in India further supported the production and purchasing rate of nitrogen-based fertilizers in the Asia-Pacific market.
Get Real Time Prices of Nitrogen: https://www.chemanalyst.com/Pricing-data/nitrogen-1097
Europe:
Nitrogen prices in Europe witnessed a decline during the second quarter of 2023. This can be attributed to pressure on demand and buyers limiting their orders. With natural gas being the primary feedstock for nitrogen fertilizers, high natural gas costs resulted in a significant reduction in nitrogen fertilizer production throughout the European Union (EU). As a result, fertilizer imports decreased and global fertilizer prices also eased. The International Fertilizer Association (IFA) highlighted the impact of sanctions, high natural gas costs, and trade restrictions, which led to a surplus of discounted fertilizer supply and decreased affordability-driven demand. Governments across the world have taken a more proactive approach to ensure fertilizer supply for food security and economic stability. Additionally, the European region faced economic challenges as it entered a recession, and the European Central Bank raising interest rates had a negative impact on overall commodity prices, affecting buyers and the agricultural sector.
About Us:
ChemAnalyst is an online platform offering a comprehensive range of market analysis and pricing services, as well as up-to-date news and deals from the chemical and petrochemical industry, globally.
Being awarded ‘The Product Innovator of the Year, 2023’, ChemAnalyst is an indispensable tool for navigating the risks of today's ever-changing chemicals market.
The platform helps companies strategize and formulate their chemical procurement by tracking real time prices of more than 400 chemicals in more than 25 countries.
ChemAnalyst also provides market analysis for more than 1000 chemical commodities covering multifaceted parameters including Production, Demand, Supply, Plant Operating Rate, Imports, Exports, and much more. The users will not only be able to analyse historical data but will also get to inspect detailed forecasts for upto 10 years. With access to local field teams, the company provides high-quality, reliable market analysis data for more than 40 countries.
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Process Aids for Rubber, Global Top 20 Players Rank and Total Market Size Forecast 2023-2029
Process Aids for Rubber Product Definition
Process Aids for Rubber has played an important role in improving the performance and quality of rubber industrial products, improving the production efficiency of rubber products, and enhancing the adhesion of heterogeneous materials. Process Aids for Rubber mainly includes Homogenizer, Tackifier, Reinforcement, Scorch retarder, etc.
Figure. Process Aids for Rubber Product Picture
Based on or includes research from QYResearch: Global Process Aids for Rubber Market Report 2023-2029.
Process Aids for Rubber Market Summary
According to the new market research report "Global Process Aids for Rubber Market Report 2023-2029", published by QYResearch, the global Process Aids for Rubber market size is projected to grow from USD 2,195 million in 2023 to USD 3,070 million by 2029, at a CAGR of 5.7% during the forecast period.
Figure. Global Process Aids for Rubber Market Size (US$ Million), 2018-2029
Based on or includes research from QYResearch: Global Process Aids for Rubber Market Report 2023-2029.
Market Drivers:
The upstream raw materials of rubber processing aids are mainly various petrochemical products, while the downstream is widely used in the production process of rubber products such as tires, rubber hoses, tapes, and rubber shoes. Rubber products are widely used in industry, agriculture, national defense, traffic, transportation, machinery manufacturing, medical and health fields and daily life, etc., the market demand is strong.
With the global wave of green tires and green manufacturing, the rubber accelerator industry has been upgraded, and low-carbon and environmentally friendly products have been introduced.
Rubber processing aids have become a key area for the development of the modern chemical industry and one of the key areas supported by various national policies. All over the world, new materials are listed as key areas for vigorous promotion and breakthrough development, focusing on high-performance structural materials, functional polymer materials, and advanced composite materials.
Restraint:
Large companies dominate high-end market and upstream players extend downward supply chain.
Trade barriers between countries.
Strong competition among peers.
Opportunity:
Technological innovation plays an important role in driving market growth, and in order to remain competitive in a competitive market, suppliers should develop new ideas and technologies and keep pace with advanced technologies.
Rubber processing aids can give rubber products excellent performance under extreme weather conditions. The terminal applications of rubber processing aids are divided into two fields: tires and non-tire rubbers. The former mainly focuses on the production of high-performance and durable automobile tires, while the latter mainly involves wire and cable, electronic and electrical products, industrial products and modified polymerization. The rapid growth in the consumption of tire and non-tire products has greatly boosted the market demand for such products.
Figure. Process Aids for Rubber, Global Market Size, The Top Five Players Hold 37.7% of Overall Market
Based on or includes research from QYResearch: Global Process Aids for Rubber Market Report 2023-2029.
This report profiles key players of Process Aids for Rubber such as Red Avenue New Materials, SI Group, Yanggu Huatai Chemical, BASF, Lanxess, Kolon Industries, Schill+Seilacher, Cray Valley, Polymer Solutions Group, Zeon, etc.
In 2022, the global top five Process Aids for Rubber players account for 37.7% of market share in terms of revenue. Above figure shows the key players ranked by revenue in Process Aids for Rubber.
Figure. Process Aids for Rubber, Global Market Size, Split by Product Segment
Based on or includes research from QYResearch: Global Process Aids for Rubber Market Report 2023-2029.
In terms of product type, Tackifier & Adhesive is the largest segment, hold a share of 60.3%,
Figure. Process Aids for Rubber, Global Market Size, Split by Application Segment
Based on or includes research from QYResearch: Global Process Aids for Rubber Market Report 2023-2029.
In terms of product application, Automotive is the largest application, hold a share of 68.2%,
Figure. Process Aids for Rubber, Global Market Size, Split by Region (Production)
Based on or includes research from QYResearch: Global Process Aids for Rubber Market Report 2023-2029.
Figure. Process Aids for Rubber, Global Market Size, Split by Region
Based on or includes research from QYResearch: Global Process Aids for Rubber Market Report 2023-2029.
About The Authors
Xinxin Wang
Lead Author
Machinery & Equipment, Advanced Manufacturing, Consumer, Sports & Healthcare, etc.
About QYResearch
QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 16 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.
QYResearch has been a reliable source for end-to-end market research needs of businesses. The report coverage at QYResearch is massive and unlocks an access to hundreds of key industry verticals and thousands of micro markets. When it comes to ready-to-purchase research, our clients can select from a huge repository. Custom research and pre-booked reports have also been the popular offerings of QYResearch.
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Industrial Wax Market Forecast 2024 to 2032
Industrial wax refers to a variety of waxes such as paraffin wax, microcrystalline wax, beeswax, and carnauba wax that are used in various industrial applications for their lubricating, protective, insulating, and sealing properties. These waxes are typically derived from petroleum, natural sources like plants and animals, or synthesized chemically. They are used in a wide range of industries, including manufacturing, automotive, packaging, and cosmetics.
The Industrial Wax Market was valued at USD 9235.4 Million in 2022 and is expected to register CAGR of 3.9% by 2032.
As there's a shift towards sustainable and environmentally-friendly products, the demand for natural waxes like beeswax and carnauba wax is increasing. This is a key factor expected to drive global market growth during the forecast period.
Industrial Wax Market By Vendors:
Sinopec
Shell
Petrobras
ExxonMobil
Sasol
Lukoil
Numaligarh Refinery
HCI
Blayson
IGI
Industrial Wax Market By Types:
Fossil Based
Synthetic Based
Bio Based
Industrial Wax Market By Applications:
Candles
Packaging
Coatings & Polishing
Hot Melt Adhesive
Tires & Rubber
Cosmetics & Personal Care
Food
About Us:
Xcellent Insights is a market intelligence provider and consulting firm. We offer data-driven research services based on multiple analysis frameworks which helps businesses across the globe to understand current market scenario and align their strategic initiatives.
We offer syndicated research reports, customized research reports, consulting services and datasets which are mapped across multiple datapoints.
We provide research reports for all the industry sectors like Consumer Goods, Packaging, Chemicals and Materials, Healthcare, Pharmaceuticals, Medical Devices, Agriculture, Food and Beverages, Automobile and transportation, Electronics and Semiconductors, IT and Communication, Energy and Power, Machinery and Equipment.
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#Industrial wax#Industrial wax market#Industrial wax market size#Industrial wax market share#Industrial wax market trends#Industrial wax market overview
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