The Future of Global Tires to 2026

Table of Contents Key Facts and Figures

Estimated at $264 billion in 2021, the global tire market has begun to recover from the disruptions associated with COVID-19, with a rebound enhanced average annual growth rate of 3.6 percent (in volume) through 2026. Based on strong drivers and trends, Smithers anticipates a sustained recovery through 2026, as the market reverts to something closer to the pre-COVID-19 trajectory, though not fully catching up during the forecast period. Complicating this recovery are supply chain disruptions, and rising shipping and materials costs.

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Key forecast data on tire types, markets and materials
Top tire industry drivers and trends, including government regulation, mobility, technology and sustainability
The greater tire performance/load demands in many end use applications, as well as the material mix, alternative materials, and recycling/sustainability that are moving the industry toward the circular economy
Changes being made in tire design and capabilities, manufacturing and raw materials that are meeting the many new and historically contradictory demands.

What will you discover?

Tire industry challenges and opportunities including further size proliferation
Erosion of traditional tire profitability
Intensification of the regulatory environment (expansion of labelling, pursuit of fuel efficiency and lower emissions)
Developments in transportation technology and mobility
Tire technology advances (sensors, connectivity and data analytics, non-pneumatics), and others

The Smithers Methodology
This report is based on extensive primary and secondary research. Primary research consisted of targeted interviews with tire raw material suppliers and tire industry experts. This was supported by secondary research in the form of extensive literature analysis of published data, official government statistics, domestic and international trade organisation data, company websites, industry reports, trade press articles, presentations, and attendance at trade events.

Who should buy this report?

Producers of materials
Equipment suppliers
Product manufacturers
Product integrators
Users of the tire markets value chain

About the author
Art Mayer has many years of experience in the tire industry, working in a variety of roles at Dealer Tire and as a contract writer and consultant covering a wide range of non-technical tire topics for Smithers and its clients. He was a speaker at recent Smithers’ Traction conferences, covering the fast-emerging area of sensors and intelligent tires. In his various roles, Art integrates primary (e.g., interviews with tire and ancillary experts and industry observers) and secondary research (e.g., databases, trade literature, financial literature) to develop customer, market, technology, and competitive insights and forecasts for clients.

Name The Future of Global Tires to 2026

Date 11/1/2021

Price $6500.00

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Executive summary

Introduction & methodology

Introduction
Scope and methodology
Definitions
- Radial and bias tires
- Winter tires
Abbreviations

Key drivers and trends

Top Five Drivers and Trends
Macro level trends
- Population
- Economic growth
  - Government spendin
- COVID-19 impact
- Supply chain and trade
- Vehicle production and parc
- Fuel and materials costs
Regulation
- Emissions
- Fuel economy
- Tire labelling
Mobility
- Urbanization
- Transport mode options
- Vehicle operation and ownership
Technology
- Transportation technology
  - Electric vehicles
  - Autonomous vehicles
  - Interrelationship of connected,electric, autonomous and shared trends
- Tire technology
  - EV impact
  - AV impact
  - Added capabilities and value
    - Sensors
Sustainability
End use dynamics
- Evolving and unmet needs
  - Vehicle owners/operations
    - Fleets
Main players and industry structure

Global tire market by material type

Overview
Elastomers
- Natural rubber
- Synthetic rubbers
  - SBR: ESBR and SSBR
  - Butyl rubber
  - Butadiene
  - PBR (polybutadiene rubber)
  - Polyisoprene
- Processing oils
  - Resins
- Reinforcing fillers
  - Carbon black
  - Silica
  - New nanofillers
- Cords
  - Steel
  - Textile cords
- Chemicals
  - Antidegradants
  - Processing aids
  - Silanes
  - Steel cord adhesion promoters/Steel wire adhesives

Global tire market by type

Overview
General tires
Specialty tires (high-performance and premium tires)
- High-performance passenger car and light commercial vehicles
  - LRR/green tires
- Truck and bus premium tires
- Motorcycle premium tires
OTR (off-the-road) tires
- End-user requirements and economics
  - OTR tire management programs
- Technology
- OTR tire production planning
- OTR tire materials
  - OTR tire sustainability
- OTR tire innovation
- OTR tire suppliers
Aviation tires

Global tire market by end-use

Overview
Passenger cars and light commercial vehicles
- Passenger cars
- Light trucks
  - SUV
  - Crossover SUV (CUV)
Medium/heavy trucks and buses
- By end/use type
Motorcycles
- Motorcycle tire materials
Mining, construction and ports vehicles
- Mining
- Construction
- Ports/Handling
Agricultural vehicles
- Forestry and light duty
Industrial vehicles
Aircraft

Global tire market by region

Overview
Asia-Pacific
- China
  - End uses
    - Light vehicles
    - Trucks and buses
    - Motorcycles
    - OTR
  - EVs
  - Tire industry
- India
  - End uses
    - PC/LGV
    - Truck and bus (T&B) tires
    - Motorcycle
    - OTR
  - Tire industry
- Japan
- Indonesia
- Vietnam
- Thailand
- Malaysia
- South Korea
- Philippines
- Australasia
- Other Asia
Europe
- Western Europe
  - Germany
  - France
  - UK
  - Italy
  - Other Western Europe
- Central and Eastern Europe
  - Russia
  - Poland
  - Other Central and Eastern Europe
North America
- US
- Canada
- Mexico
South and Central America
Middle East and Africa
- Middle East
- Africa

Key future opportunities for tire innovators

General
- Immediate priorities
  - Tires service life/end of life
- Opportunities beyond the report period
  - ‘Ride sharing’: the future state of passenger mobility
  - Future state of goods transport
  - Autonomous vehicles
  - Purpose built shared vehicle s
Areas of innovation
- Materials
- Sustainability
- Value added technologies
  - Intelligent tires and systems
  - External tire diagnostic equipment and systems
  - Distribution and service opportunities
    - Fleet and tire management programs
    - Tire and related maintenance standards
    - E-commerce and replenishment
- Disruptive innovations
  - Non-pneumatics
  - ‘Tires as a service’
Selected innovator profiles
- Apollo Tyres
- Bridgestone
- Cheng Shin Rubber
- Continental
- Dunlop Aircraft Tires
- Giti Tire
In September 2021, Giti Tire joined the United Nations Global Compact (UNGC) as a Signatory,
- Goodyear
- Hankook
- Kumho
- Linglong (Shandong Linglong Tire Co., Ltd)
- Michelin
- MRF (Madras Rubber Factory)
- Nokian
- Pirelli
- Sailun
- Sumitomo
- Titan
- Toyo
- Trelleborg
- Triangle
- Yokohama
- ZC Rubber (Hangzhou Zhongce Rubber Co., Ltd.)

Tables
• Top five drivers and trends, 2021–26
• Areas of supplier opportunity
• Top five drivers and trends, 2021–26
• Forecast population changes 2020–2026 (millions)
• Global GDP growth outlook
• Summary of COVD-19 impacts on key area trends
• Summary of COVD-19 impacts on tire industry
• Key countries’ targets to reduce CO2 emissions
• New technology trends impacting the tire industry
• Key tire industry players
• Global tire market by raw material input, 2016–26, by volume (‘000 tonnes)
• Tire consumption of elastomers, 2016–26, by volume (‘000 tonnes)
• Tire consumption of processing oils, 2016–26, by volume (‘000 tonnes)
• Tire consumption of carbon black, 2016–26, by volume (‘000 tonnes)
• Tire consumption of HDS precipitated silica, 2016–2026, by volume (‘000 tonnes)
• Tire consumption of conventional precipitated silica, 2016–2026, by volume (‘000 tonnes)
• Tire consumption of steel cord, 2016–2026, by volume (‘000 tonnes)
• Tire consumption of textile cord, 2016–2026, by volume (‘000 tonnes)
• Tire consumption of chemicals, 2016–26, by volume (‘000 tonnes)
• Tire market by type, 2016–26, by value and volume ($/units million)
• General tire market, 2016–26, by value and volume ($/units million)
• Speciality tire market, 2016–26, by value and volume ($/units million)
• Specialty tires: High-performance/ premium tire market by end use, 2016–26, by value and volume ($/units million)
• Specialty tires: Truck and Bus Premium tire market by end use, 2016–26, by value and volume ($/units million)
• Specialty tires: Motorcycle Premium tire market by end use, 2016–26, by value and volume ($/units million)
• Off-the-road tire market, 2016–26, by value and volume ($/units million)
• Aircraft tire market, 2016–26, by value and volume ($/units million)
• Tire market by end use, 2016–26, by value and volume ($/units million)
• Passenger car and light commercial vehicle tire market, 2016–26, by value and volume ($/units million)
• Medium/heavy trucks and buses tire market, 2016–26, by value and volume ($/units million)
• Motorcycle tire market, 2016–26, byvalue and volume ($/units million)
• Mining, construction and ports tire market, 2016–26, by value and volume ($/units million)
• Agricultural tire market, 2016–26, by value and volume ($/units million)
• Industrial tire market, 2016–26, by value and volume ($/units million)
• Aircraft tire market, 2016–26, by value and volume ($/units million)
• Global tire market by region, 2016–26, by value and volume ($/units million)
• Asia-Pacific tire market 2016–26, by value and volume ($/units million)
• China tire market 2016–26, by value and volume ($/units million)
• India tire market 2016–26, by value and volume ($/units million)
• Japan tire market 2016–26, by value and volume ($/units million)
• Indonesia tire market 2016–26, by value and volume ($/units million)
• Vietnam tire market 2016–26, by value and volume ($/units million)
• Thailand tire market 2016–26, by value and volume ($/units million)
• Malaysia tire market 2016–26, by value and volume ($/units million)
• South Korea tire market 2016–26, by value and volume ($/units million)
• Phillipines tire market 2016–26, by value and volume ($/units million)
• Australasia tire market 2016–26, by value and volume ($/units million)
• Other Asia tire market 2016–26, by value and volume ($/units million)
• Europe tire market 2016–26, by value and volume ($/units million)
• Western Europe tire market 2016–26, by value and volume ($/units million)
• Germany tire market 2016–26, by value and volume ($/units million)
• France tire market 2016–26, by value and volume ($/units million)
• UK tire market 2016–26, by value and volume ($/units million)
• Italy tire market 2016–26, by value and volume ($/units million)
• Other Western Europe tire market 2016–26, by value and volume ($/units million)
• Central and Eastern Europe tire market 2016–26, by value and volume ($/units million)
• Russia tire market 2016–26, by value and volume ($/units million)
• Poland tire market 2016–26, by value and volume ($/units million)
• Other Central and Eastern Europe tire market 2016–26, by value and volume ($/units million)
• North America tire market 2016–26, by value and volume ($/units million)
• USA tire market 2016–26, by value and volume ($/units million)
• Canada tire market 2016–26, by value and volume ($/units million)
• Mexico tire market 2016–26, by value and volume ($/units million)
• South and Central America tire market 2016–26, by value and volume ($/units million)
• Brazil tire market 2016–26, by value and volume ($/units million)
• Other South and Central America tire market 2016–26, by value and volume ($/units million)
• Middle East and Africa tire market 2016–26, by value and volume ($/units million)
• Middle East tire market 2016–26, by value and volume ($/units million)
• Africa tire market 2016–26, by value and volume ($/units million)
• Overview of sustainability goals by major tire companies
• Sustainability opportunities
• Michelin’s recent partnerships and purchases for sustainable development

Figures
• Global tire market, 2016–26, by value ($ million)
• Tire market share by raw material input, 2021, by volume (% share)
• Growth forecast in tire raw material by type, 2021–26, (% CAGR)
• Tire market share by type, 2021, by volume (% share)
• Growth rate forecast in tire market by type, by volume, 2021–26, (% CAGR)
• Tire market share by end use, 2021, by volume (% share)
• Growth rate forecast in tire market by end use, by volume, 2021–26, (% CAGR)
• Global tire market by region, 2021, by volume (% share)
• Growth rate forecast in tire market by region, by volume, 2021–26, (% CAGR)
• Tire industry value chain (fleet channel example)
• Tire consumption of raw materials, 2016–26, by volume (million tons)
• Tire market share by raw material input, 2021 and 2026, by volume (% share)
• Growth forecast in tire raw material by type, 2021–26, (% CAGR)
• Tire consumption of elastomers by type, 2021 and 2026, by volume (% share)
• Growth forecast in tire elastomers by type, 2021–26, (% CAGR)
• Tire consumption of processing oils by type, 2021 and 2026, by volume (% share)
• Growth forecast in tire chemical by type, 2021–26, (% CAGR)
• Tire consumption of chemicals, by type, 2021 and 2026, by volume (% share)
• Growth forecast in tire chemical by type, 2021–26, (% CAGR)
• Tire market by type, 2016–26, by volume (million units)
• Tire market share by type, 2021 and 2026, by volume (% share)
• Growth rate forecast in tire market by type, by volume, 2021–26, (% CAGR)
• General tire market by type, 2016–26, by volume (million units)
• General tire market share by type, 2021 and 2026, by volume (% share)
• Growth rate forecast in general tire market by type, by volume, 2021–26, (% CAGR)
• Specialty tire market by type, 2016–26, by volume (million units)
• Specialty tire market share by type, 2019 and 2024, by volume (% share)
• Growth rate forecast in speciality tire market by type, by volume, 2021–26, (% CAGR)
• Tire market by end use, 2016–26, by volume (million units)
• Tire market share by end use, 2021 and 2026, by volume (% share)
• Growth rate forecast in tire market by end use, by volume, 2021–26, (% CAGR)
• Global tire market by region, 2016–26, by volume (million units)
• Global tire market by region, 2021 and 2026, by volume (% share)
• Growth rate forecast in tire market by region, by volume, 2021–26, (% CAGR)
• Asia-Pacific tire market by country/ region, 2016–26, by volume (million units)
• Asia-Pacific tire market by country/ region, 2021 and 2026, by volume (% share)
• Asia-Pacific growth forecast in tire market by country/region, by volume, 2021–26, (% CAGR)
• Europe tire market by country/region, 2016–26, by volume (million units)
• Europe tire market by country/region, 2021 and 2026, by volume (% share)
• Europe growth forecast in tire market by country/region, by volume, 2021–26, (% CAGR)
• Western Europe tire market by country, 2016–26, by volume (million units)
• Western Europe tire market by country, 2021 and 2026, by volume (% share)
• Western Europe growth forecast in tire market by country, by volume, 2021–26, (% CAGR)
• Eastern Europe tire market by country, 2016–26, by volume (million units)
• Eastern Europe tire market by country, 2021 and 2026, by volume (% share)
• Eastern Europe growth forecast in tire market by country, by volume, 2021–26, (% CAGR)
• North America tire market by country, 2016–26, by volume (million units)
• North America tire market by country, 2021 and 2026, by volume (% share)
• North America growth forecast in tire market by country, by volume, 2021–26, (% CAGR)
• South and Central America tire market by country, 2016–26, by volume (million units)
• South and Central America tire market by country, 2021 and 2026, by volume (% share)
• South and Central America growth forecast in tire market by country, by volume, 2021–26, (% CAGR)
• Middle East and Africa tire market by region, 2016–26, by volume (million units)
• Middle East and Africa tire market by region, 2021 and 2026, by volume (% share)
• Middle East and Africa growth forecast in tire market by region, by volume, 2021–26, (% CAGR)

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