Vehicles are one of the largest contributors to air pollution across the world, producing significant amounts of nitrogen oxide, carbon monoxide, and other pollutants. Vehicle fuel efficiency greatly affects air pollution. The higher the rolling resistance—the friction between the tire and road surface—of a vehicle’s tires, the more fuel is required to overcome the friction, leading to more pollutants being released. While traditional tires are typically made of rubber, green tires are manufactured using raw materials such as silica incorporated rubber, butyl rubber, silica and silane incorporated rubber, silane incorporated rubber, recycled rubber, and renewable raw materials, among others.

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Increasing environmental awareness among consumers is a key driver for the growth of the global green tires market. Furthermore, rising per-capita income and a growing working population have led to increased automotive sales, especially in Asia-Pacific, driving the demand for green tires during the forecast period. Stringent regulations for vehicle emissions in developed regions such as North America and Europe are another major factor fueling product demand.

Segmentation Analysis

The global green tires market has been segmented by raw material, vehicle type, application, and region. On the basis of raw material, the global green tires market has been divided into silica incorporated rubbers, butyl rubber, silica and silane incorporated rubber, and silane incorporated rubber, recycled rubber, renewable raw materials, and others. Based on vehicle type, the global green tires market has been segregated into passenger cars, light-duty vehicles, heavy-duty vehicles, motorcycles, aircraft, non-road diesel equipment, and others.

Key Players and Competition Analysis

Michelin (France), Lanxess (Germany), Evonik Industries AG (Germany), Bridgestone Americas Tire Operations, LLC (US), MRF (India), Apollo Tyres (India), the Goodyear Tire & Rubber Company (US), Hankook Tire (South Korea), Pirelli Tire North America LLC (US), PPG Industries, Inc. (US), Green Arc Tire Manufacturing Inc. (Canada), Giti Tire Pte Ltd (Singapore), Sailun Tires (Canada), Cooper Tire & Rubber Company (US).

Regional Analysis

The global green tires market has been analyzed with respect to five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific is another major market for green tires due to the growth of the automotive industry in China. Furthermore, rising per-capita income and a growing working population are boosting regional automotive sales, especially in India and Japan.

Europe held the largest market share of the global green tires market in 2017 and is expected to maintain its dominance during the forecast period. The market in the Middle East & Africa is expected to grow during the forecast period. Latin America held the smallest market share in 2017; moderate growth of the regional market is expected during the forecast period. Browse the market data and information spread across 140 pages with 47 data tables and 12 figures of the report “Green Tires Market by Application Industry Outlook Sources Forecast to 2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/green-tires-market-6340

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