Market Research Report
North America Tire Reinforcement Materials Market Forecast 2021-2028
|North America Tire Reinforcement Materials Market Forecast 2021-2028|
Published: October 6, 2021
Content info: 144 Pages
Delivery time: 2-3 business days
The North America tire reinforcement materials market growth is estimated to progress at a CAGR of 5.08% during the forecast period, 2021-2028. Several OEMs are setting up their manufacturing facilities in the region. Further, initiatives undertaken by market players boost the market demands and prospects.
Canada and the United States are analyzed for the North America tire reinforcement materials market growth assessment. Canada, a developed economy, has prominent commercial destinations like British Columbia, Quebec, and Ontario. In addition, it is one of the richest countries globally, maintaining trade relations with the UK, Japan, China, and the US. Also, the high per capita income, developed roadways, and developing urban areas are aiding the expanding automobile market and tire industry. In addition, with the global issues of C-credits and C-emissions and the increasing sales of hybrid vehicles, automotive giants are launching hybrid variants. Such factors boost the demand for smart tires among OEMs.
Furthermore, though Transport Canada does not regulate the age or shelf life of tires, they require the manufacturing dates to be molded on the sidewall of every tire. It develops, enforces, and maintains the Canada Motor Vehicle Tire Safety Regulations under the Motor Vehicle Safety Act. Such factors constitute the Canada market prospects.
Century Enka Limited, DuPont, SRF Limited, HBT Rubber Industrial Co Ltd, Toray Industries Inc, etc., are among the eminent market players