Market Reports

Global market of Nitrile Butadiene Rubber is growing exponentially over the last few years and is expected to achieve a CAGR of 3.12% in the forecast period owing to its properties including resistance to wear and tear, thermal resistance, high gas impermeability and low temperature flexibility. NBR is synthetic rubber produced from a copolymer of acrylonitrile and butadiene. Due to its oil resistant nature, its primary applications are in fuel hoses, gaskets, and other products in which oil resistance is essential.

As with all global elastomer markets, the silicone elastomers market also suffered a serious setback since the beginning of 2020. However, unlike other elastomer markets, the silicone elastomer market is rebounding rapidly, despite (or more importantly because of) the COVID-19 pandemic.

The U.S. Tire Manufacturers Association (USTMA) projects total U.S. tire shipments of 336.1 million units in 2021, compared to 303.2 million units in 2020 and 332.7 million units in 2019. Compared with 2020, original equipment (OE) shipments for passenger, light truck and truck tires are expected to increase by 9.9 percent, 6.2 percent and 25.3 percent, respectively, with a total increase of 5.2 million units. Replacement shipments for passenger, light truck and truck tires are also projected to increase by 10.1 percent, 13.2 percent and 14.6 percent, respectively, with a total increase of 27.7 million units.

The July 2021 edition of the World Rubber Industry Outlook (WRIO) is now available. The current forecast in WRIO comprises two economic scenarios: base case scenario rooted from the IMF’s base line GDP forecast; downside scenario assumes bottlenecks in reaching effective vaccine protection and high infection rates of COVID-19 variants have a drag on the normalization in mobility and recovery in contact-intensive sectors in 2021 and 2022. 

Market Research Future (MRFR) expects the masterbatch market to touch an approximate valuation of $13,839.3 million by the end of 2025. MRFR believes that the strong demand for masterbatch is due to the rising preference for high performance, advanced materials among end use industries like aerospace, automotive, consumer goods and packaging.

Historically, sales of fumed silica surged at a CAGR exceeding 4 percent , closing in at over $1 billion in 2020. Prospects dipped amidst the COVID-19 pandemic, as mandatory factory shutdowns occurred to curb the spread of the novel coronavirus. Fortunately, prospects widened since the fourth quarter of 2020, as lockdowns were lifted and restrictions eased, permitting resumption of manufacturing operations.

The long term outlook of the TCF market in air springs still looks favorable with an expected bounce back in the market from 2021 onwards. Strong market fundamentals such as recovery in automotive production and the rolling stock market, increasing penetration of air springs in the emerging economies and excellent properties of TCF are likely to drive the market to recover at a promising CAGR of 6.5 percent to reach $133 million in 2026.

The major players operating in the European tire market include Bridgestone Europe NV/SA, Michelin, Continental AG, Sumitomo Rubber Industries Ltd. and Yokohama Rubber Co. Ltd.

The global tire recycling downstream products market is valued at $4.1 billion in 2021, and it is anticipated to grow at a CAGR of 2.15 percent over the forecast period until 2030, according to Quince Market Insights. Recycling technologies improve the circular economy by maximizing the return of materials produced. Hence, tire recycling downstream will have a huge impact on the economy. The tire recycling process involves the conversion of discarded or end-of-life tires into useful industrial materials. Various methods are adopted for tire recycling, including pyrolysis, cryogenic recycling and repurposing the old tires. However, the most common technique used is shredding, which has a huge impact on market growth.

earch report “Industrial PU Elastomer Market by Type (Thermoset PU Elastomer, Thermoplastic PU Elastomer), End-use Industry (Transportation, Industrial, Medical, Building & Construction, Mining Equipment) and Region – Global Forecast to 2026”, published by MarketsandMarkets™, the market size is projected to reach USD 10.5 billion by 2026 from USD 7.7 billion in 2021, at a CAGR of 6.3% during the forecast period.