Tire fillers Market: an eco-friendly material for tire-making formulations
- Tire fillers form an important part of the tire manufacturing process. In tire production, tire fillers are employed to enhance strength, durability, performance, and efficiency. Different types of tire fillers include carbon black, clays, mineral fillers, aluminum trihydrate, silane, and silica compounds.
- A tire is made of various materials including rubber, inert fillers, and specialty chemicals. In a tire, the rubber content is around 45%, inert fillers account for 25%, while the specialty chemicals content is 15%. The rest is fabric material. The combination of these materials imparts excellent properties to tires.
- Conventionally, tires are black in color and rubber is considered a suitable material for tire manufacture. Rubber is highly elastic material that can change its shape under certain low-heat conditions. Increasing regulatory norms led by concerns about the environment have changed the formulation of tires and tire products globally.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of this report
Key Drivers of Global Tire Fillers Market
- Increasing demand for automobiles, such as SUVs and crossover and hybrid cars, is projected to boost the global tire industry during the forecast period. This, in turn, is likely to propel the demand for tire fillers market across the globe from 2019 to 2027. In 2019, over 1,700 million units of passenger cars and light commercial vehicles (LCVs) were sold worldwide.
- Rising number of road accidents is also prompting tire manufacturers to enhance the quality and road grip performance of tires. Manufacturers are aiming at effective tire formulations made by using high-quality materials including rubber, fillers, and specialty chemicals. Rapid growth of the automotive industry in several countries is projected to drive the tire fillers market across the world in the next few years.
Silica Segment to Witness Attractive Opportunities
- Based on product, the global tire fillers market can be segmented into carbon black, precipitated silica, mineral fillers, and titanium dioxide. The precipitated silica segment is projected to hold a key market share during the forecast period. Precipitated silica is widely used in tire formulations due to its chemical compatibility with rubber materials, which adds value to tire products.
- Silica and silane possess different sets of characteristics, which have a broad range of applications in the tire industry. These are extensively available in different physical forms and grades. In the tire industry, silica is extensively used for improving performance and durability of on-road and off-road tires. These key factors are expected to fuel the demand for tire fillers in the near future.
Expanding operations in future? To get the perfect launch ask for a custom report
Asia Pacific to Hold a Major Share of Global Tire Fillers Market
- Geographically, the global tire fillers market can be divided into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is anticipated to gain a major share of the global tire fillers market during the forecast period, followed by Europe and North America
- Rising demand for passenger cars and light commercial vehicles in China, India, and South Korea is expected to fuel the market for tire fillers in Asia Pacific in the next few years
- Also, increase in the demand for fuel-efficient vehicles in the automotive industry across developing economies of Asia Pacific, such as China, India, Indonesia, and Vietnam, is expected to offer lucrative opportunities to manufacturers of tire fillers operating in the region during the forecast period. These key factors are likely to fuel the tire fillers market in the region during the forecast period.
- The market in Europe and North America is projected to expand at a moderate rate during the forecast period, due to presence of well-established automotive and tire industries in both regions
- The market in Latin America and Middle East & Africa is expected to expand at a sluggish rate during the forecast period, due to limited opportunities for tire manufactures in the region
Key Players Operating in Global Market:
The global tire fillers market has strong presence of manufacturing companies operating at the global and domestic levels. A few of the key players operating in the global market are:
- BASF SE
- Evonik Industries
- Asahi Carbon
- Birla Carbon
- Martins Industries
- Denka Company Limited
Global Tire Fillers Market: Research Scope
Global Tire Fillers Market, by Product
- Carbon Black
- Precipitated Silica
- Mineral Fillers
- Titanium Dioxide
Global Tire Fillers Market, by End-use Industry
- Military & Defense
- Consumer Goods
- Others (Including Agriculture)
Global Tire Fillers Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.