Global Tire Raw Materials Market Trends for 2015
Tire Raw Materials Market - Global Industry Expert Opinions Analysis, Emerging Opportunities, Market Size, Share, Growth Drivers, Market Trends, Statistics And Forecast 2015 - 2020
Report Description
A tire is an assembly of various components that are built on a drum and then press cured under pressure and heat. Around 200 materials are consumed in the manufacturing process of tires. The primary raw materials used in the production process of tires include natural rubber, synthetic rubber, steel cords, nylon tire cord fabrics, cords, carbon black, rubber chemicals, etc. Tires form an integral part of any automobile and are produced in different sizes and shapes depending on the applications they are used in. The tire industry is highly raw material intensive industry, where the costs of tire raw materials account for about three fourths of the tire industry turnover.
The raw materials used in the manufacturing of tires depend on the type of the tire and its intended applications. Usually tire types that are usually produced include tires for passenger car tires, light truck tires, trucks and bus tires, special vehicle tires and motorcycle tires. The composition of raw materials also depends on the geographical conditions where the proportion of natural rubber and synthetic rubber varies according to the vehicle type and road conditions. With the growth in demand for automobiles across the globe and specifically in Asia Pacific region the demand for tires is expected to grow further and consequently the demand for raw materials.
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Scope
With the growth in demand for automobiles across the globe and specifically in Asia Pacific region the demand for tires is expected to grow further and consequently the demand for raw materials. The ballooning automobile industry in Asia Pacific countries such as China and India is expected to drive the demand for tires and tire raw materials globally. Replacement tires also constitute a major market for tire manufacturers. Also, Countries such as India, Indonesia, Malaysia have abundant natural rubber resources and these countries export natural rubber to different countries globally.
In terms of demand Asia-Pacific was the largest market for tire raw materials followed by North America and Europe. Asian countries such as China, India dominated the demand for tire raw materials in Asia Pacific on account of growing automotive industry in this region. In North America, U.S was the major market followed by Canada and Mexico. The demand for tire raw materials is expected to witness strong growth from countries such as Brazil, Indonesia, Russia etc. in the next few years.
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Key Players
Some of the major companies operating in the global tire raw materials market are SRF Limited, Bakaert Corporation, Kordsa Global, Hyosung Corporation, and MRF among others.
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