TechNavio today launched its report Global Tire Reinforcement Material Market 2012-2016 based on an in-depth analysis covering the Americas, the EMEA region, and the APAC region. The report aims to aid decision makers’ understanding of the present and future landscape of the market.
Commenting on the report, an analyst from TechNavio’s Automotive team said: ”Vendors in this market could focus on utilizing diverse eco-friendly raw materials to reinforce tires. Increasing awareness about energy conservation and the damage to the environment caused by toxic chemicals has paved the way for an entirely different approach to the traditional tire production process using chemicals, which is substantially different from the conventional way of producing tire rubber from fossil fuels. Eco-friendly methods employ biotechnology, where products are derived from biological and agricultural sources. The adoption of environmentally friendly technology is expected to offer growth opportunities to the vendors in the Global Tire Reinforcement Materials market.”
According to the report, steady economic growth in the APAC region is one of the key drivers of the Global Tire Reinforcement Materials market. The economic growth has improved the financial status of large sections of the population, which in turn is leading to an increase in the per capita income of the population and increased demand for automobiles and other vehicles in these countries.
Further, the report states that the increasing cost of raw materials and commodity products is one of the major challenges faced by this market. Increasing cost puts pressure on the manufacturers and restricts their spending on Research and Development.
The report also includes a discussion of the key vendors operating in this market. The key vendors dominating this market space are Bekaert SA, Toray Industries Inc., Toyobo Co. Ltd and Kolon Industries Inc.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/global-tire-reinforcement-materials-mar…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our Automotive market research, please visit https://www.technavio.com/automotive
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TechNavio Announces the Publication of its Research Report – Global Tire Reinforcement Material Market 2012-2016
