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Global performance elastomer market forecast with 7.9 percent growth rate through 2032

Global Performance Elastomer Market is valued approximately at USD 18.19 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 7.29% over the forecast period 2024-2032 according to ReportOcean.com. Performance elastomers are a unique class of polymers characterized by their remarkable flexibility and resilience, allowing them to revert to their original shape upon the removal of deforming forces.

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High-temperature sealants market forecast at $9.95 billion by 2036

The high-temperature sealants industry is thriving, driven by demand across sectors like automotive, aerospace, and manufacturing. Industries are increasingly pushing the limits of material performance, requiring sealants that can endure extreme conditions without compromising safety or efficiency.
As per predictions the high-temperature sealants market size was over USD 5.21 Billion in 2023 and is anticipated to reach USD 9.95 Billion by 2036, growing at around 5.1% CAGR during the forecast period i.e., between 2024-2036.

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GM confirms layoffs of over 1,000 salaried employees

General Motors (GM) recently announced significant layoffs, impacting over 1,000 salaried employees in its software and services division. This decision comes as part of a broader strategy to streamline operations and enhance efficiency. The layoffs will affect employees across various locations, including Michigan, California, Texas, and Canada. GM spokesperson Kevin Kelly stated that the company aims to simplify its structure to achieve speed and excellence, making bold choices to prioritize impactful investments.

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Tire Group International acquires Avaun Tire Supply

Tire distributor Tire Group International (TGI) announces it has acquired Avaun Tire Supply, a wholesale distributor based in Portland, Ore.

Avaun and TGI have been partners since Avaun was founded in 2016 by Sherko Rasouli and Freddie Capshaw.

“This strategic move is part of TGI’s ongoing expansion plans in key markets across the USA, reinforcing its commitment to growth and customer service,” TGI said in a news release.

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Synthetic latex polymers market forecast growth rate of 5.5 percent through 2032

Global Synthetic Latex Polymers Market is valued at approximately USD 40.6 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2024-2032 according to Report Ocean. Synthetic latex polymers, often referred to as synthetic latex, are manufactured materials comprising polymer particles dispersed in water. Created via emulsion polymerization involving monomers such as styrene, butadiene, acrylic acid, vinyl acetate, or ethylene, these polymers are critical in multiple industries due to their durability, flexibility, and adherence properties.

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Maxam Tire promotes Jeremy Edds to national account sales director

MAXAM Tire announced the promotion of Jeremy Edds to the position of SOTR & National Account Sales Director. Jeremy’s extensive background in the tire and transportation service industry, coupled with his demonstrated leadership and expertise, positions him perfectly to drive growth and success in this critical role.

Jeremy’s journey in the tire industry began at just 17 years old, when he started working in tire and service industry. Over the years, he has amassed a wealth of experience, earning a diploma from AC-Delco automotive technical college and an ASE Master Tech certification. His early hands-on experience led him to various operational and service sales positions, building a strong foundation for his future career.

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Scrap Tire Research and Education Foundation receives $3.7 million EPA grant

Scrap Tire Research and Education Foundation (STREF), based in Washington, DC. STREF has been awarded US$3,778,326 to develop EPDs for the tire recycling industry. This project focuses on creating a product category rule (PCR) for tire recycling, aiming to fill a gap in the industry’s data on environmental impacts.

The project will highlight the use of ground tire rubber (GTR) from recycled tires as a low-carbon modifier in asphalt mixtures. GTR’s inclusion in asphalt helps extend pavement life and maintain smoother surfaces, improving vehicle fuel efficiency and reducing overall environmental impacts.

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Nexen Tire named OEM for Porsche Cayenne Sports SUV

NEXEN TIRE announced that the tire manufacturer received OEM approval for the new high-end Porsche Cayenne Sports SUV that will be equipped with the N’FERA SPORT SUV tires.

The N’FERA SPORT SUV is a premium tire for tailored SUVs made at the NEXEN TIRE European plant. The company supplies its tires for new cars and has asymmetrical patterns that are appropriate for high-speed driving and excellent drainage performance thanks to a 3+1 wide groove.

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