The latest market report published by Constancy Researchers “Global Commercial Vehicles Tire Materials Market: Growth, Future Prospects, COVID-19 Impact Analysis, Drivers, Restraints, Trends, Opportunities, Investment Landscape, and Competitive Analysis, 2017 – 2028”
Global Commercial Vehicles Tire Materials Market: Overview
The global commercial vehicles tire materials market was valued at over US$ XX Billion in 2020 and is estimated to grow at a CAGR of XX% during the forecast period. The global commercial vehicles tire materials market is anticipated to witness substantial growth in the years to come due to the growing automotive production along with increase in vehicle usage. The increased sales of electric vehicles coupled with the growing sales of commercial vehicles across the globe are some other key factors for the growth of the global commercial vehicles tire materials market during the forecast period. Moreover, the rising demand for eco-friendly commercial vehicles tire materials is one of the key opportunities for the global commercial vehicles tire materials market over the upcoming years. Besides, the fluctuating raw material price sis one of key factors estimated to hamper the global commercial vehicles tire materials market growth in the years to come.
Global Commercial Vehicles Tire Materials Market: COVID-19 Impact
The impact of COVID-19 has been considered in the global commercial vehicles tire materials market report published by Constancy Researchers Private Limited. According to Constancy Researchers Private Limited COVID-19 analysis on the global commercial vehicles tire materials market, the demand for commercial vehicles tire materials has decreased due to haltin the manufacturing industry worldwide along with the decreased sales of automotive vehicles during the COVID-19 period.
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Global Commercial Vehicles Tire Materials Market: Report Highlights
- Based on the type, the fillers category is estimated to witness substantial growth during the forecast period. This is ascribed to increased use of silica in tire manufacturing.
- Based on the regional analysis, Asia Pacific dominated the market in 2020 and is projected to grow at the highest rate during the forecast period. This is majorly due to the rising automotive manufacturing along with the increased tire production in the region. The rising tire replacement activities in emerging economies along with rising manufacturing due to low labor cost are some other key factors for the growth of the region over the forecast period.
- Mergers & acquisitions, new product launches, strategic partnerships, and collaborations among key players are estimated to be the key strategies in the global commercial vehicles tire materials market.
- As per the research by Constancy Researchers Private Limited, the global commercial vehicles tire materials market is highly fragmented in nature owing to the presence of a large number of players at the global, regional, and country-level.
List of Key Players of Global Commercial Vehicles Tire Materials Market
- Solvay SA
- Evonik Industries AG
- Lanxess AG
- Cabot Corporation
- SABIC
- China National Petroleum Corporation
- ExxonMobil Corporation
- JSR Corporation
- PAO SIBUR Holding
- PPG Industries Inc.
- Trinseo
- Sumitomo Chemical Co., Ltd.
- Birla Carbon
- Orion Engineered Carbons SA
- OCI Company Ltd.
- PJSC Nizhnekamskneftekhim
- Zhejiang Cenway New Synthetic Material Co. Ltd.
- Formosa Synthetic Rubber Corporation
- Others
Global Commercial Vehicles Tire Materials Market: Segmentation
Constancy Researchers Private Limited has segmented the global commercial vehicles tire materials market on the basis of type, tire type,and regional analysis-
Global Commercial Vehicles Tire Materials Market: By Type
- Natural Rubber
- Synthetic Rubber
- Fillers
- Process Chemicals
- Steel Cords
- Textile Cords
Global Commercial Vehicles Tire Materials Market: By Tire Types
- Solid Tires
- Pneumatic Tires
- Retreated Tires
Global Commercial Vehicles Tire Materials Market: By Regional Analysis
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America (LATAM)
- Brazil
- Mexico
- Rest of Latin America (LATAM)
- Middle East & Africa (MEA)
- United Arab Emirates (UAE)
- Saudi Arabia
- Rest of Middle East & Africa (MEA)
