Tire Filler Market: End-Use Industry Analysis and Forecast (2023-2029)

Tire Filler Market was valued nearly US$ 94.31 Bn in 2022. Tire Filler Market size is estimated to grow at a CAGR of 5.68 % & is expected to reach at US$ 138.8 Bn. by 2029.
Global Tire Filler Market Overview:
Tire fillers are compounds that are used to seal the tire's entry, preventing air & fluid from entering the tube. Rubber tyres are black in color and give the tyre wall suppleness as well as the capacity to change shape in cold temperatures. Rubber is an excellent temperature-resistant material. Tire filler adds strength & longevity to the tire's surface. A Tire fillers are an important part of the manufacturing process since they are a key component in the creation of tyres. Tire fillers' major functions are to provide efficiency standards & to improve performance levels.

Carbon black, Silica, and amorphous precipitated silica are used as tyre fillers to reinforce the rubber tube & improve vehicle performance. To improve tyre properties such as tear resistance, abrasion resistance, and tensile strength, a filler is employed. Silica's main purpose is to boost the tire's rolling capacity. Tire fillers have disadvantages as well, such as sealants harming the tyre wall due to improper application, necessitating tyre replacement.

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Automobile Manufacturing:

Throughout the years, the automobile industry has matured into a mature and well-established industry. Vehicle manufacturing & innovation have contributed to the industry's prosperity. Automobile companies have made significant contributions to the global economy through creating jobs, paying a significant amount of taxes, and earning a significant amount of foreign money. There are several automobile manufacturing companies all around the world that produce a large number of vehicles.

Tata Motors is Asia's largest automobile manufacturer and the world's 17th largest. Automobiles, trucks, vans, buses, and other vehicles are produced by this company. Tata Motors had the highest sales and was well-liked across the country in the year 2018. This group is dedicated to foreseeing & delivering the world's best commercial and passenger vehicles, as well as the best customer experiences.



Tata Motors
1945


Employee Strength
60,000


Company Turnover
$ 42 Billion


Vehicle Sold Service
>9 Mn


Sales & Service Point
>6,600 Mn



In more than 175 countries, Tata Motors can be found on and off the road. Tata Motors sells vehicles, buses, and trucks in 20 countries, including India, the UK, South Korea, Thailand, South Africa, & Indonesia.

The Automobile Industry:

The automobile industry is in the midst of a major revolution. In the coming years, the automotive industry will be renamed the mobility industry, encompassing the next generation of products & services that enable people and goods transportation, as well as new technologies in material and digital sciences & business models such as ride-sharing and shared ownership.

Each of these occurrences is sufficiently disruptive to need modifications in corporate tactics. When they are united, however, they produce a complete transformation. It's not only for current players, either. New, non-traditional companies are emerging in the IT sector. Companies that do not adapt rapidly enough risk falling behind and being unable to compete, perhaps causing a substantial shift in the industry's environment, participants, and power dynamics.

The new & rapidly growing mobility industry:

The mobility sector necessitates a broader view of how consumers will interact with their automobiles. This change is being driven by four different, observable technology sectors, all of which shifted from the future to the present in 2016. Connectivity has the advantage of having the most time spent in the car and is the most acquainted to the consumer. On-Star, for example, is a popular "help button" from General Motors that provides directions to emergency services. Redefined mobility: As a result of the popularity of ride-sharing services like Uber, the fundamental essence of what we consider "mobility" is evolving. The majority of big manufacturers are thinking about how these trends will affect new product development and design. This will affect the physical evolution of vehicles as well as the software that runs on them.

Tire Industry:

Tire consumption is increasing at an exponential rate, owing to increased demand for vehicle production to meet the spike in vehicle demand across all segments. As a result, automotive manufacturing ultimately determines tyre demand. Increased vehicle production in developing nations & increased competition among tyre producers are driving the global automotive tyre industry. However, constraints such as fluctuating raw material prices and rising demand for tyre remolding are projected to stifle market expansion. Furthermore, advances in technology and fuel efficiency, as well as an increase in the usage of electric vehicles, are likely to open up various potential for market expansion.
Market Trends for Tire Fillers:
The vehicle industry is driving the tyre filler market. A tyre is an important component of every vehicle. As a result, tyre fillers are the basic components and chemicals that increase the tensile strength and durability of the final product.

The expansion of the tyre filler market has been linked to SUV innovation. Vehicles are used as a form of transportation, and they use tyres to offer motion, whether by air or by road. Hence the car and transportation industries will drive the tyre filler market throughout the projected period. Increased global car sales are indirectly fueling the tyre filler business. Increased disposable money and modernization are also key factors in the sale of automobiles. Tire producers are working on enhancing tyre performance and increasing gripping capability on the road as the frequency of road accidents rises. Furthermore, to avoid tyre explosions, car and bike racing sports require increased tensile strength in the vehicle due to the high speed of the competition. As a result, the aforementioned considerations open the door for manufacturers to enter the market.
The Impact of COVID-19 on the Tire Filler Market:
Vehicle sales have been reduced as a result of the epidemic's low sources of money and international blockades. Due to a scarcity of raw materials and employees on the production site, small-scale industries have been forced to close. Due to a lack of distribution and supply chain management, the tyre fillers market is facing a sales decline.
Market Segments for Tire Fillers:
The product sector includes carbon black, precipitated silica, mineral filler, and titanium dioxide. Precipitated silica dominates the tyre filler market. Precipitate silica has a market share of 1.95 billion dollars and is predicted to grow at a CAGR of 7.9% over the next five years. Rubber and polymers become more pliable and perform better when silica is added. An important factor is rising product demand in tyre manufacturing for large cars and trucks used in the transportation of commodities.

Automotive, aerospace, military & defence, consumer products, and other end-user sectors make up the segment (Including agriculture). The automobile industry dominates the tyre filler market, followed by the aircraft industry. With a 3.0% CAGR, the vehicle sector has a market share of $ 2,755 billion dollars.
Regional Insights :
APAC is the region driving the industry forward due to its rising population and high demand for premium vehicles. Demand for cars & SUVs is boosted by people's disposable income and purchasing power. In the expected period, the most populous nations in APAC, such as China, India, Japan, and Indonesia, will drive the market's growth. North America is the engine that propels high-tech investment and the advanced vehicle industry forward. New vehicles are emerging as the market works toward the expansion of the automobile sector. The market is projected to drive the tyre filler industry.

The objective of the report is to present a comprehensive analysis of the Tire Filler Market to the stakeholders in the End-Use Industry. The past and current status of the End-Use Industry with the forecasted Market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the End-Use Industry with a dedicated study of key players which include Market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the Market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the End-Use Industry to the decision-makers.

The report also helps in understanding the Tire Filler Market dynamics, structure by analyzing the Market segments and project the Tire Filler Market size. Clear representation of competitive analysis of key players by Product, price, financial position, Product portfolio, growth strategies, and regional presence in the Tire Filler Market make the report investor’s guide.
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Tire Filler Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 94.31 Bn.


Forecast Period 2023 to 2029 CAGR:
5.68%
Market Size in 2029:
US $ 138.8 Bn.


 Segments Covered:
by Product
Carbon Black
Precipitated Silica
Mineral Fillers
Titanium Dioxide


by End-Use Industry
Automotive
Aerospace
Military & Defense
Consumer Goods
Others (including Agriculture)



Tire Filler Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
Major Players operating in the Global Tire Filler Market are:
1.BASF SE
2.Evonik Industries
3.Asahi Carbon
4.Birla Carbon
5.Solvay
6.Martins Industries
7.Denka Company Limited
8.Cancarb
9.Coal Fillers
10.Cosmo Chemical
11.Denka
12.Ecopower
13.Evonik Industries
14.KMG
15.KaMin
16.Nippon Steel

FAQ’S:

1) What is the share of the Global Tire Filler Market in 2022?
Answer: The Global Tire Filler Market was accounted for 94.31 Bn in the year 2022.

2) Which End-Use Industry segment is dominating the Global Tire Filler Market?
Answer: Air Purification segment is the dominating End-Use Industry segment in the market.

3) What are the key players in the Global Tire Filler Market?
Answer: BASF SE, Evonik Industries, Asahi Carbon, Birla Carbon, Solvay, Martins Industries. Denka Company Limited, Cancarb, Coal Fillers, Cosmo Chemical, Denka, Ecopower, Evonik Industries, KMG KaMin, Nippon Steel.

4) Which region has the largest share in Global Tire Filler Market??
Answer: Europe region holds the highest share in 2022.