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(Transportation-News.com, November 14, 2017 ) Market Outlook:
In early 1990s the green tires came into existence with the usage of highly dispersible silica in tire treads in Europe due to high energy costs, consumer appreciation for better handling and safety and understanding the environmental benefits. The demand for green tires is now increasing in the United States.
With rapid urbanization and increasing pressure on fuel consumption, the acceptance of green tires is gaining popularity. The global green tires market is expected to expand at a promising CAGR during the forecast period
Market Overview
Green Tire is a way big dream for the tire manufacturers. Its a rocky road to fulfill this dream. Replacement of the raw materials present in tires with renewable materials may have a negative impact on the braking performance and compromising here is not acceptable. Currently the label “green” is used for tires, designed with an aim to improve the fuel economy.
Tire is a crucial vehicle component that covers the wheel's rim to protect it and enable better vehicle performance. Tires provide traction between the vehicle and road while providing a flexible cushion bed to absorbs shock. Tires are typically made of rubber. With the increasing environmental and energy concerns, tire manufacturers are stepping forward to use renewable raw materials. Plasticizers and resins could also be potentially used in green tires.
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Market Highlights:
Rising energy costs, stringent government regulations and increased environmental awareness among consumers regarding fuel consumption and a desire for improved handling and safety are some of the key factors driving the growth of the green tires market.
Widespread replacement of fossil materials with renewable raw materials is not always a solution since it requires acreage that might already be used in food production. Process engineering involved in the raw materials, lack of knowledge about the green tire technology and all-season traction capability are probable factors restraining the growth of the green tires market.
Top Industries Players:
The major players in global Green Tire market include
• Michelin
• Bridgestone
• Continental
• Pirelli
• Goodyear
• Shanghai Huayi
• Sumitomo Rubber Industries
• ZC Rubber
• Yokohama
• Nokian Tyres
• Hankook
• Maxxis
• Triangle Group
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Market Segmentation:
On the basis of product, the Green Tire market is primarily split into
• All-Steel Tire
• Semi-Steel Tire
On the basis on the end users/applications, this report covers
• Passenger Vehicle
• Light Commercial Vehicle
• Heavy Commercial Vehicle
Geographically, this report is segmented into several key Regions, with production, consumption, revenue, market share and growth rate of Green Tire in these regions, from 2012 to 2022 (forecast), covering
• Europe
• North America
• China
• Asia (ex. China)
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