Tire Chemicals Market Trends, Analysis, and Future Outlook

Tire Chemicals Market Projected to Expand at 4.5% CAGR Through 2030

The Global Tire Chemicals Market size is valued at around USD 80 billion in 2024 and is projected to reach USD 110 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4.5 % during the forecast period, i.e., 2025-30. The Global Tire Chemicals Market is driven by the expansion of production of passenger cars, two-wheelers, and demand for LCV and M HCV. The total global production of automobile vehicles in 2023 was approximately 93.54 million units showing an increase of 10% from the 84.83 million units in 2022, according to the facts from OICA. Thus, the growing automobile units are projecting the growth prospects for tire production and tire chemicals manufacturing companies.

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Strategic Takeaways from the Report:

Market Sizing and Forecasting
Regulatory and Policy Influence
Competitive Trends and MA Activity
Innovation Drivers and Disruptive Technologies
Investment Hotspots and Emerging Niches
Geographical Dynamics and Trade Flows

Tire Chemicals Market Segment Overview Classification

This market is categorized to offer targeted insights across various operational and consumer-related verticals.

Segment List:

By Application Type

Automobile Tires- Market Size Forecast 2020-2030, Thousand Tons
- Passenger Car- Market Size Forecast 2020-2030, Thousand Tons
- Two three Wheeler - Market Size Forecast 2020-2030, Thousand Tons
- LCV - Market Size Forecast 2020-2030, Thousand Tons
- M HCV - Market Size Forecast 2020-2030, Thousand Tons
- OTR - Market Size Forecast 2020-2030, Thousand Tons
Others (Aircraft Tires, Marine Tires, etc.)- Market Size Forecast 2020-2030, Thousand Tons

The global tire chemicals industry is bifurcated into automobile vehicles and others including aircraft marine tires. The share of automobile tires among all vehicle types is the largest, having around 90% of the total market value. Further, the share of passenger cars in the automobile industry is also approximately exceeding the value of 45%. The rise of car-sharing platforms, the emergence of the aspirational Gen Z population, and easy financing options have been pushing the sales of passenger cars. Therefore, automobile tires specifically passenger car tires are holding the largest market share and are expected to dominate the market during the forecast period.

By Chemical Type

Rubbers- Market Size Forecast 2020-2030, Thousand Tons
- Natural Rubber- Market Size Forecast 2020-2030, Thousand Tons
- Synthetic Rubber- Market Size Forecast 2020-2030, Thousand Tons
Antioxidants- Market Size Forecast 2020-2030, Thousand Tons
- Amine Antioxidants - Market Size Forecast 2020-2030, Thousand Tons
- Phenolic Antioxidants- Market Size Forecast 2020-2030, Thousand Tons
- Heterocyclic Antioxidants- Market Size Forecast 2020-2030, Thousand Tons
Antiozonants- Market Size Forecast 2020-2030, Thousand Tons
Fillers- Market Size Forecast 2020-2030, Thousand Tons
- Carbon Black- Market Size Forecast 2020-2030, Thousand Tons
- Silica- Market Size Forecast 2020-2030, Thousand Tons
Vulcanization Chemicals- Market Size Forecast 2020-2030, Thousand Tons
- Sulphur- Market Size Forecast 2020-2030, Thousand Tons
- Zinc Oxide- Market Size Forecast 2020-2030, Thousand Tons

Of all the important chemical types, the largest market share is held by the Rubbers, accounting for more than 50% share. Natural and synthetic are the two main types of rubber. Natural rubbers hold approximately 30% market share and synthetic rubber holds approximately 25% market share. In the manufacturing of tires, rubbers are the main chemicals used, which led to the highest share of rubbers, and it will dominate the chemical type segment in the forecast period as well.

By Region

North America
South America
Europe
The Middle East Africa
Asia-Pacific.

Asia-Pacific holds the largest market share in the Global Tire Chemicals Market, from all the major leading regions. It contributes approximately 60% to the Global Tire Chemicals Market. The rapidly growing economies like India and China are part of this region, with increasing deployment of vehicles. Also, individuals with car ownership or personal vehicles are rapidly growing in the region, ultimately raising the demand for tires tire chemicals. In addition to this, the motor vehicle production of the Asia-Pacific in 2023 was more than 55 million units, as stated by the International Organization of Motor Vehicle Manufacturers. While for Europe it was approximately 18.11 million units and for North America, it was around 16.11 million units. Therefore, higher motor vehicle production is one of the major factors causing a high demand for tires tire chemicals.

These divisions help clarify demand patterns and expected shifts.

Market Opportunities

Growing Demand for Electric Vehicles to Create Ample Growth Opportunities – Many countries, from China, the Netherlands, Iceland, and Sweden to Norway, have planned to cut CO₂emissions and are increasingly inclining towards the use and promotion of electric vehicles. On the other hand, other countries such as Israel, India, Egypt, the UK, and Australia are focusing more on electric vehicle inculcation to lower their dependence on the use of imported oil. Electric vehicles require special types of tires whose resistance is low compared to normal tires to ensure a lower consumption of energy. Also, the torque of electric vehicles is greater than that of normal tires. These special characteristics will require special chemicals and manufacturing of electric vehicle tires. Further, an increase of almost 12% was seen in the sales of electric vehicles in 2023, with 22.81 million units sold in 2023 compared to 20.34 million units sold in 2022, as per the facts provided by IEA. Thus, it is evident that the enlarging demand sale of electric vehicles across the globe is projected to provide various opportunities for growth for both tire tire chemicals manufacturers in all parts of the globe.

Tire Chemicals Market Competitive Snapshot from 2025-2030

The report highlights established and emerging players in the global Tire Chemicals Market, evaluating their strengths, challenges, and potential for innovation.

Key Competitors Include:

Birla Carbon
Von Bunditt Company Ltd.
Business Description
Cabot Corporation
Sinochem International
Evonik Industries AG
Phillips Carbon Black Limited
Eastman Chemicals Company
Sumitomo Chemical Company Limited
Orion Engineered Carbon S.A
Lanxess AG
BASF
Solvay SA/NV
ExxonMobil Corporation
Emery OleoChemicals
Arkema Chemicals Pvt. Ltd.

Their activities include partnerships, product launches, and geographic expansions.

Tire Chemicals Industry Prime Challenge

Waste Tire Disposal Regulatory Pressure Hindering Market Growth – The annual tire production across the globe exceeds 1.6 billion units, as stated by the Material Recycling Association of India (MRAI). Further, the generation of waste tires is approximately 1 billion units out of which only 100 million units are processed by the recycling industry annually. Moreover, the value of the reclaimed rubber across the globe by 2027 is expected to cross USD 6.5 billion. Waste generated by rubbers can potentially affect the environment in negative ways such as the addition of harmful gases in the air, contamination of underground water, and the formation of fumes dust. Thus, it is emerging as a challenge to process treat the huge waste generated by the old and useless tires. Thus government may impose strict regulations for the same which may impact new tire production and increase the usage of refurbished tires. Ultimately, such strict regulations globally may hinder the growth expansion of the tire chemicals industry.

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