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Tire Material Industry Overview 2025: Growth Projections and Market Trends

November 14, 2025 by The Business Research Company

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#What Are The Current (2025) And Forecast (2029) Sizes Of The Tire Material Market?

The tire material market has shown consistent growth in recent years. It will grow from $89.28 billion in 2024 to $93.05 billion in 2025, achieving a CAGR of 4.2%.

Strong expansion is anticipated within the market encompassing tire materials over coming years, with its value projected to reach $116.61 billion by 2029, reflecting a consistent annual growth rate of 5.8 percent; this upward trajectory is fundamentally driven by several factors, including the increasing adoption of 3D printing methods and personalization, the rising consumer requirement for tires that enhance fuel economy, a heightened organizational commitment to tire repurposing and embracing circular economic principles, alongside a sustained prioritization of environmentally sound raw materials, while prominent developments shaping the market during this forecast interval involve the introduction of greener, more ecological substances, progress in nanotechnology applications, the creation of tires optimized for superior performance, a strategic move toward employing lighter components, and the broader transition toward electric and hybrid automotive technologies.

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Which Drivers Are Shaping The Tire Material Industry’s Market Share?

Anticipated expansion in the output of automobiles is set to boost the traction materials sector’s advancement in the near future, considering that a motor vehicle encompasses any apparatus, whether a tractor-trailer or semi-trailer, moved or hauled mechanically, designed for transporting commodities across thoroughfares, where tires serve the dual purpose of ensuring grip for both stopping and starting while simultaneously damping vibrations reaching the vehicle’s chassis; for illustration, data released by the European Automobile Manufacturers’ Association (ACEA) in May 2023 indicated that global production reached 85.4 million units in 2022, marking a 5.7 percent rise from the preceding year, further substantiated by figures from the International Organization of Motor Vehicle Manufacturers, a coalition representing 36 national commerce bodies, which documented an uptick in combined output of passenger and commercial vehicles from 80.14 million in 2021 to 85.02 million the following year, thus clearly demonstrating how surging vehicle manufacturing activity fuels the expansion within the tire components market.

What Are The Different Segment Classifications Within The Tire Material Market?

The tire material market covered in this report is segmented –

1) By Type: Elastomers, Reinforcing Fillers, Plasticizers, Chemicals, Metal Reinforcements, Textile Reinforcements, Other Types

2) By Tire Types: Solid Tire, Pneumatic Tire, Retreated Tires

3) By Vehicle Type: Two Wheelers, Rickshaws, Passenger Cars, Trucks, Buses, Utility Vehicles, Other Vehicle Types

4) By Application: Passenger Cars, Commercial Vehicles

Subsegments:

1) By Elastomers: Natural Rubber, Synthetic Rubber

2) By Reinforcing Fillers: Carbon Black, Silica, Other Fillers

3) By Plasticizers: Process Oils, Additives

4) By Chemicals: Antioxidants, Vulcanizing Agents, Accelerators

5) By Metal Reinforcements: Steel Wire, Other Metal Components

6) By Textile Reinforcements: Polyester Fiber, Nylon Fiber, Rayon Fiber

7) By Other Types: Adhesives, Coatings

Which Market Trends Are Creating New Opportunities In The Tire Material Industry?

A significant upward trend in the tire material sector is being driven by increasing consumer preference for environmentally conscious tire components, which frequently incorporate reused substances derived from renewable origins. Leading firms within this market are strategically concentrating their efforts on engineering novel, sustainable tire offerings to enhance their competitive standing. As an illustration, in March of 2024, GRI, a prominent Sri Lankan producer specializing in tires for agricultural, material handling, and construction equipment, introduced its subsequent line of environmentally sound specialty tires, distinguished by a high proportion of sustainably procured content; specifically, their sustainable agricultural tire range, named the GREEN XLR EARTH series, now utilizes 87.3% sustainable inputs, and their sustainable material handling tire, the ULTIMATE GREEN XT, achieves a remarkable 93.5% sustainable material inclusion.

Which Major Firms Are Strengthening Their Position In The Tire Material Industry?

Major companies operating in the tire material market are Orion Engineered Carbons LLC, SIBUR International GmbH, SRF LIMITED, Exxon Mobil Corporation, Teijin Aramid B.V., Birla Carbon Black Limited, Metro Tyre & Industries Limited, Federal Corporation Sdn Bhd, Nokian Tyres PLC, Bekaert Industries India Limited, Cabot Corporation, JSR Corporation, Kuraray Co. Ltd., LANXESS AG, Phillips Carbon Black Limited, PetroChina Company Limited, Solvay SA, Continental AG, The Goodyear Tire & Rubber Company, Michelin & Cie. SCA, Bridgestone Corporation, Sumitomo Rubber Industries Ltd., The Yokohama Rubber Co. Ltd., Hankook Tire & Technology Co. Ltd.

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How Is Tire Material Market Demand Varying Across Different Regions?

Asia-Pacific was the largest region in the tire material market share in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the tire material market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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