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Impact of Trends in Tire Design on Chemicals and Materials Market in North America
Frost & Sullivan, March 2010, Pages: 145
The research service comprises of a description of latest trends in tire design. It also has the corresponding trends in the materials and chemicals market. The materials and chemicals include synthetic rubber- styrene butadiene rubber, fillers such as carbon black, silica and other advanced fillers, tire cords such as nylon, polyester, rayon and aramid and processing oil. The individual segments have been analyzed for the latest trends in consonance with the mega trends at the tires level. The drivers, restraints and challenges have been provided for the segments along with the forecasts for unit shipments as well as revenues
Research Overview
This Frost & Sullivan research service titled Impact of Trends in Tire Design on the Chemicals and Materials Market in North America provides market size and forecasts, technological insights, product segmentation, and future trends in tire design. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: synthetic rubber, fillers, tire cord, and processing oil.
This analysis is available through our Chemicals & Materials Growth Partnership Services program. With continuous access to intelligence and resources from all seven perspectives of the Complex Business Universe, the Growth Partnership Services program ensures that you and your Growth Team™ are able to maintain a 360 Degree Perspective of the market. This comprehensive, objective information allows your company to mitigate risk, identify new opportunities, and drive effective strategies for growth.
Market Overview
Tire Manufacturers Move Designing into Top Gear as Low Rolling-resistant and Eco-friendly Tires Gain Popularity
The improving economy, favorable taxation on tire imports from China, and increasing environment consciousness have encouraged the tire market in North America to pass legislation mandating lower rolling resistance and tire labeling. Tire materials such as rubber and fillers will get a boost with the move to introduce labels, while the rising demand for eco-friendly tires will fuel innovation in the tire and tire materials market. “The new regulations demand greener tires, typically, tires with low rolling resistance, which consume less fuel and consequently, emit less carbon dioxide,” says the analyst of this research. “For example, the labeling legislation requires all the tires to be rated according to their rolling resistance, wet grip, and tire wear and in places like Europe, the noise generated is just as important as tire wear in North America.” Companies have to comply with at least the minimum criteria on all the three aspects of rolling resistance, wet grip, and noise generation in Europe, whereas in North America, they have to ensure wear resistance, as consumers prefer tires that have better green efficiency and safety ratings.
However, legislations, while proving beneficial for one set of materials, have dampened the market prospects of other types of materials. “The choice of material used largely depends on the kind of performance that is expected from the tires,” notes the analyst. “Since lowering rolling resistance and improving wet grip has been the main objective of the tire manufacturers, materials such as solution styrene butadiene rubber (SBR), and silica are expected to cannibalize the more conventional materials like emulsion SBR and carbon black.” Traditionally, tire manufacturers have often had to reduce the rolling resistance at the expense of wet grip. However, more advanced fillers such as silica have helped improve the rolling resistance and wet grip simultaneously, while solution SBR with silica has reduced rolling resistance.
In the tire cord segment, polyethylene naphthalate (PEN) is expected to hold a steady share as it is quieter and stronger, while in the processing oil segment, the phasing out of aromatic oils in Europe is expected to provide an opportunity for oils such as naphthenic oil and, to a lesser extent, mild extract solvate oils. Although the market for materials had been affected in 2008 and 2009, it is expected to rebound in 2010 and become stable, in tandem with the tires and thereby, automotive market.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Synthetic rubber
- Fillers
- Tire cord
- Processing oil
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