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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.

Friday, January 22, 2021

Guill Tool & Engineering rolls out new website - click to expand

NovationSi and Zeon develop novel electrically conductive silicone compounds - click to expand

Hankook Tire selected as original equipment for Audi RS Q8 - click to expand

North America tire market forecast at $90 billion by 2025 - click to expand

Book of the day: Thermoplastic Elastomers - click to expand

Dunlop Motorcycle Tires announces price increase for U.S. and Canada - click to expand

Thursday, January 21, 2021

Bostik invests in joint venture with Cartell Chemical for development of engineering adhesives - click to expand

Bridgestone and NRGene announce sequence and assembly of guayule genome - click to expand

Freudenberg Medical expands U.S. molding operations - click to expand

Global silicone surfactants market forecast at $3.3 billion by 2026 - click to expand

Safic-Alcan further extends partnership with Arkema molecular sieves - click to expand

Cabot Corporation receives platinum rating for its sustainability efforts from EcoVadis - click to expand

Wednesday, January 20, 2021

GRI initiates phase 2 for the largest specialty tire plant in Sri Lanka - click to expand

Call for abstracts issued for 2021 International Elastomer Conference - click to expand

ExxonMobil introduces new Santoprene integrated thermoplastic vulcanizate - click to expand

Henkel expands collaboration with InterPRO for 3D application development - click to expand

Greenergy invests in advanced biofuels project - click to expand

German and International Rubber Conference 2021 postponed due to COVID-19 - click to expand

Tuesday, January 19, 2021

Wallace Instruments partners with ACE Products & Consulting LLC - click to expand

Lux Research names top five technologies disrupting the chemicals and materials industry - click to expand

Endurica named winner of the 2020 Tibbetts Award from the U.S. Small Business Administration - click to expand

Polyurethanes Technical Conference set to resume in Denver, CO, October 4 - click to expand

BKT renews its sponsorship for all competitions organized by Curling Canada - click to expand

Greenergy opts for Haldor Topsoe’s HydroFlex technology - click to expand

Monday, January 18, 2021

General Silicones announces solution for using hot-melt adhesives with silicone rubber - click to expand

Biesterfeld receives distribution rights for Denka acrylate rubbers - click to expand

Rubber Division, ACS, promotes rubber groups and technical organizations - click to expand

Apollo inaugurates specialized service center for tires in India - click to expand

TechnoBiz announces research webinar on Future Applications of Natural Rubber - click to expand

Harwick Standard announces retirement of Daniel Davis - click to expand

Market Reports

Rubber-internal mixer market will register a 0.3% CAGR through 2025 - click to expand

North America tire market forecast at $90 billion by 2025 - click to expand

Global silicone surfactants market forecast at $3.3 billion by 2026 - click to expand

Global Off the Road (OTR) Tire Market is expected to be around 4 percent through 2025 - click to expand

Global Automotive Tires Market to reach $575 billion by 2025 - click to expand

Global carbon black market is projected to expand at a CAGR of 4.4 percent through 2026 - click to expand

Global rubber gloves market size is expected to reach $22.1 billion by 2027 - click to expand

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