Asia-Pacific Sustainable Tire Materials Market Report 2023-2032: Shares Analysis for Rubber, Natural, Recycled, Sustainable Carbon Black, Silica, and Other Materials

Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific Sustainable Tire Materials Market - Analysis and Forecast, 2023-2032" report has been added to's offering.

The Asia-Pacific sustainable tire materials market (excluding China) is projected to reach $5.1 million by 2032 from $1 million in 2022, growing at a CAGR of 19.08% during the forecast period 2023-2032. The market for sustainable tire materials is anticipated to rise as a result of the increasing demand for environmentally friendly tires, new developments, and the incorporation of sustainable tire materials during the production process of tires for cars and trucks.

Business Dynamics

  • Business Drivers
    • Stringent Regulations and Carbon Neutrality Targets
    • Augmented Demand for Sustainable Tire Materials from Transportation and Logistics
    • Extended Lifespan and Cost Efficiency of Tires
  • Business Challenges
    • Volatility of Tire Prices Made from Sustainable Tire Materials
    • Lower Adoption Rate of Sustainable Tire Materials in ICE Vehicles Compared to Electric Vehicles
  • Business Strategies
    • Product Developments
    • Market Developments
  • Corporate Strategies
    • Mergers, Acquisitions, and Divestments
    • Partnerships, Joint Ventures, Collaborations, and Alliances
  • Business Opportunities
    • Growing Demand for New Sustainable Tire Materials
    • Utilization of Advanced Recycling Techniques within the Tire Circular Economy Model

Market Introduction

Harmful carbon emissions and detrimental effects on the environment are linked to the use of non-renewable resources in tire production. Leading APAC tire producers, including Michelin and The Goodyear Tire and Rubber Company, are now making sustainable tires with improved fuel efficiency, a shorter lifespan, and a lower carbon footprint in order to address this problem. The region's leading nations have set high goals to lessen their influence on the environment, and these sustainable tire materials meet those goals. It is also anticipated that new and creative sustainable tire solutions will be introduced as a result of the increased focus on research and development in the area of sustainable tire materials. While the market for environmentally friendly tire materials is still in its infancy, it is expected to increase significantly in the forecasted period.

Market Segmentation

Segmentation 1: by Type of Material

  • Rubber
  • Natural
  • Recycled
  • Sustainable Carbon Black
  • Silica
  • Others

Segmentation 2: by Propulsion Type

  • Internal Combustion Engine Vehicles
  • Electric Vehicles

Segmentation 3: by Vehicle Type

  • Passenger Vehicles
  • Commercial Vehicles

Segmentation 4: by Tire Structure

  • Radial
  • Bias

Segmentation 5: by Sales Channel

  • OEMs
  • Aftermarket

Segmentation 6: by Region

  • Asia-Pacific and Japan: Japan, South Korea, India, and Rest-of-Asia-Pacific and Japan

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analysing company coverage, product portfolio, and market penetration.

Some of the prominent names established in this market are:

  • LDC-KOREA Co. Ltd.
  • GRP Ltd.
  • SNR Reclamations Pvt. Ltd.
  • Bridgestone Corporation

Key Attributes

Report AttributeDetails
No. of Pages102
Forecast Period2023-2032
Estimated Market Value (USD) in 2023$1 Million
Forecasted Market Value (USD) by 2032$5.1 Million
Compound Annual Growth Rate19%
Regions CoveredAsia-Pacific

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Asia-Pacific Sustainable Tire Materials Market