Market Report
The Future of Tire Raw Materials to 2028
Q&A with N. Omar Meneghelli
A new market report, The Future of Tire Raw Materials to 2028, forecasts a 3.5% CAGR in tire raw materials volume to 2028 as tire makers work to meet changing requirements from OEMs, governments and other industry influences.We caught up with the author, N. Omar Meneghelli, to discuss the opportunities and challenges that lie ahead for the tire industry. Meneghelli’s expertise in technical service, quality assurance and continuous improvement has positioned him in roles throughout his career to support top tire industry management globally.
How is the tire raw materials industry adapting to OEM demands for electric vehicles?
The tire industry is laser focused on adopting technology advances and meeting the need for sustainability. Tires and their materials must be “greener.” In the case of electric vehicles, tires must offer low rolling resistance and durability to achieve the desired range and support of heavier vehicles. Tires also need to be lighter and more silent with less abrasion to reduce tire wear particles. New raw materials and evolving tire-making equipment are the keys to succeeding in these areas.
What is the impact of sustainability on the tire raw materials industry?
Conversion to bio-sourced materials and sustainable carbon black is taking off in the tire industry and the need will only get stronger. Achieving the circular economy will be critical for reaching the industry’s goal of zero emissions. The top tire companies have clear schedules focused on the adoption of environmental and social responsibility actions as part of the circular economy and materials suppliers will be essential contributors.
What opportunities await the tire materials industry over the next five years?
Tire makers will close the gap on developing a fully sustainable tire with great reliance on materials suppliers.
Digital advances will promote the traceability of materials from sources to tire and automotive factories, extending their benefit to the end user and to the end of a tire’s life. Immense amounts of data is available that must be handled in the right way, protected and converted into positive decisions that drive the industry forward.
Also, airless tires will drive development of many new tire materials.
What are the main threats the industry needs to be wary of going forward?
The tire industry and materials suppliers will need to solve the situation of “substances of high concern” – those that affect the environment and human health. They must be able to recognize when they need to work jointly to develop replacements for materials such as DPG, 6PPD, Cobalt Dichloride and others. Until the ultimate replacements are found, there could be a need to reduce consumption of these and other materials.