PUBLISHER: TechSci Research | PRODUCT CODE: 1886604
PUBLISHER: TechSci Research | PRODUCT CODE: 1886604
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The Global Sustainable Tire Materials Market, valued at USD 52.45 Million in 2024, is projected to experience robust expansion with a CAGR of 4.45% to reach USD 68.1 Million by 2030. Sustainable tire materials comprise recycled, renewable, or bio-based components engineered to minimize the environmental impact of tire manufacturing processes. The market's expansion is fundamentally driven by increasing global environmental concerns, coupled with the implementation of stringent governmental regulations promoting sustainable practices and growing consumer demand for environmentally responsible products.
| Market Overview | |
|---|---|
| Forecast Period | 2026-2030 |
| Market Size 2024 | USD 52.45 Million |
| Market Size 2030 | USD 68.1 Million |
| CAGR 2025-2030 | 4.45% |
| Fastest Growing Segment | Sustainable Carbon Black |
| Largest Market | Asia Pacific |
Key Market Drivers
Stringent government regulations and mandates significantly propel the global sustainable tire materials market by establishing benchmarks for environmental performance and resource efficiency. These regulatory frameworks compel manufacturers to integrate sustainable components, thereby mitigating environmental impact. For example, according to the European Tyre and Rubber Manufacturers' Association (ETRMA) 2023 Sustainability Report, published in December 2023, the European tire industry aims to achieve an average of 10% recycled content in new tires by 2025, a goal influenced by evolving EU circular economy policies.
Key Market Challenges
A primary challenge impeding the expansion of the Global Sustainable Tire Materials Market is the elevated production cost associated with sustainable materials and advanced manufacturing techniques. These higher costs directly affect the affordability of sustainable tires, thereby limiting widespread market adoption by both manufacturers and end-users. Consumers often prioritize cost-effectiveness, and the premium associated with sustainable options can deter purchasing decisions despite growing environmental awareness.
Key Market Trends
Ambitious corporate commitments to 100% sustainable material usage are significantly reshaping the global sustainable tire materials market. This trend reflects manufacturers proactively setting stringent internal targets beyond regulatory mandates, aiming for complete circularity in material sourcing. Such pledges drive substantial investment into researching and developing novel bio-based and recycled materials, while fostering collaborations across the supply chain.
In this report, the Global Sustainable Tire Materials Markethas been segmented into the following categories, in addition to the industrytrends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies presents in the Global Sustainable Tire Materials Market.
Global Sustainable Tire Materials Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report: