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Global OTR tire market anticipated to reach $26.4 billion by 2027

  6/30/2020 - Newark, NJ - As per the report published by Fior Markets, the global OTR (off-the-road) tires market is anticipated to grow from $18.32 billion in 2019 to $26.45 billion by 2027, at a CAGR of 4.7 percent during the forecast period 2020-2027. The rise in demand for agriculture equipment vehicles and tractors in farming, the rise in demand for construction vehicles and the increase in infrastructural development in developing countries are some of the factors fueling the OTR tires market. OTR tires have deep and robust treads that can be used for any type of vehicle. These are made from durable compounds which provide better grip on mud, sand and rough surfaces. They are designed keeping in mind to be used in tough and in an adverse environments, such that even in severe conditions, they provide safety, performance and quality. They are broadly used in machinery at mines and also in construction sites, where there are no roads. They are commonly used on dump trucks, bulldozers, graders, mobile cranes, container handlers, scrapers, etc. High research and development expenditure is acting as the major restraint for the market. The efficient work in tough and adverse conditions, and the high research and development expenditure required, add to the cost of the tires. It is increasing the price of the OTR tires. Also, cheap Chinese tires are hampering the growth if the OTR market. People who are not much aware of the security concern tend to buy cheap tires from the unorganized sector rather than expensive OTR tires, which are better in quality. This factor is also restricting the market. Key players for the global OTR tires market include Bridgestone, Goodyear, Sumitomo, Alliance Tire Group, MRF, Yokohama, Continental, Michelin, Pirelli and JK Tyre & Industries Ltd, among others.

Tuesday, July 7, 2020

Conductive Silicone Rubber Market is estimated to reach $8.68 Billion by 2026 - click to expand

Safic-Alcan opens South African subsidiary - click to expand

Halcyon Agri receives $25 million sustainability-linked loan from Deustsche Bank for rubber plantations - click to expand

Arlanxeo goes virtual for its first global Technical Marathon - click to expand

Lianda launches new website in preparation for 25th anniversary - click to expand

Bridgestone donates emergency response trailer to Wilson County, Tennessee - click to expand

Monday, July 6, 2020

Cabot Corporation publishes 2019 Sustainability Report - click to expand

Cooper Standard’s Fortrex technology enables PolyOne launch of next-generation elastomer - click to expand

Cooper Tire adds winter drive tire RM258 for regional haulers - click to expand

Pirelli introduces tire with temperature adapting compound - click to expand

Bridgestone wins trademark dispute against Brazilian retread company New Tyre - click to expand

Friday, July 3, 2020

Book of the Day - Resistance and Stability of Polymers - click to expand

Trinseo announces 2030 sustainability goals - click to expand

Michelin hires eight youth apprentices for full-time positions at Starr, SC, facility - click to expand

Lanxess to hold virtual annual stockholders' meeting August 27 - click to expand

Dow launches MobilityScience platform - click to expand

Thursday, July 2, 2020

Global silicone coating market forecast with a CAGR of 7 percent - click to expand

Siempelkamp announces departure of CEO Christoph Michel - click to expand

Repligen to acquire Engineered Molding Technology - click to expand

Bosch Rexroth hosts free virtual Explore the Factory of the Future event - click to expand

Royal DSM appoints Zhou Tao as DSM China president - click to expand

PolyOne launches OnColor WC Choice for wire and cable applications - click to expand

Trinseo strengthens CASE team with two new hires - click to expand

Wednesday, July 1, 2020

Global thermoplastic elastomer market forecast with a CAGR of 5.6 percent through 2025 - click to expand

Bridgestone teams with Microsoft on intelligent tire monitoring system - click to expand

Hankook Tire named GM Supplier of the Year by General Motors - click to expand

Nokian Tyres invites drivers to enter their favorite road trips - click to expand

Total Cray Valley introduces aliphatic resin - click to expand

Rubber Division and Endurica partner on rubber industry training opportunities - click to expand

Tuesday, June 30, 2020

Stahl partners with CHAMPION project to replace conventional polymers - click to expand

Safic-Alcan extends distribution partnership with Momentive Quartz Technologies - click to expand

Cabot completes placement of all major air emission control equipment at Louisiana site - click to expand

Global OTR tire market anticipated to reach $26.4 billion by 2027 - click to expand

Bridgestone announces voluntary salary reduction for Japan-based corporate officers - click to expand

Kuraray America, Inc. launches nonprofit corporation to support its communities - click to expand

Market Reports

Global fluoroelastomer market forecast at $1.8 billion by 2025 - click to expand

Global automotive flooring markets forecast at $1.32 billion by 2027 - click to expand

Global OTR tire market forecast to reach $8.14 billion by 2026 - click to expand

Conductive Silicone Rubber Market is estimated to reach $8.68 Billion by 2026 - click to expand

Global silicone coating market forecast with a CAGR new 7 percent - click to expand

Global thermoplastic elastomer market forecast with a CAGR of 5.6 percent through 2025 - click to expand

Global OTR tire market anticipated to reach $26.4 billion by 2027 - click to expand

Global pressure sensitive adhesives market forecast to reach $12.8 billion by 2025 - click to expand

Outlook for the rubber economy in the face of Covid-19 - click to expand

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