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.
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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.
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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
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The following regional segments are covered comprehensively:
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- Latin America
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1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
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