Market Reports

The global tire market is an allied market to the rapidly shifting automotive market. As vehicles are getting more efficient, infrastructure is getting smoother, the tire market finds itself a suitable pedestal to grow upon. As per the research conducted by Bonafide Research, under the title, Global Tire Market Outlook, 2026, the global tire market is evaluated to be selling more than 2,000 million tires annually as of 2020. The tire market globally is expected to grow to more than 2,700 million tires by the year 2026.

According to Stratistics MRC, the global tire cord fabrics market is accounted for $4.15 billion in 2017 and is expected to reach $7.89 billion by 2026 growing at a CAGR of 7.4 percent during the forecast period. Rise in vehicle usage and growth in the awareness for biodegradable products are some of the factors propelling the market growth. However, fluctuating raw material prices is hindering the market growth.

215 billion units, or about 37%. Although manufacturers are working hard to increase production, industry experts are predicting possible shortages in 2021. However, the demand for surgical gloves reduced significantly as about 28 million surgeries were canceled or postponed during the pandemic. But post COVID-19, the number of surgeries performed will go high, which will accelerate the demand. North America dominates the global medical gloves market share, followed by Europe, APAC, Latin America, and Middle East & Africa. In the future new products, expansions, and collaborations will be crucial for companies to maintain revenue growth. For example, a key player, Supermax, currently has 24 billion pieces of gloves per annum, and the company is planning to expand it to over 44 billion pieces by the end of 2024.

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.