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The Global Tire Materials Market is projected to reach USD 112.34 billion by 2028, growing at a CAGR of 4.5% during the forecast period.

Tires in automotive generally perform functions like transmitting traction and braking forces to the road surface, supporting the vehicle load, changing and maintaining the direction of travel and absorbing road shocks. To ensure these functions are being adequately met, the use of appropriate materials which will give satisfactory properties is necessary.

Tires are an important part of the automobile industry and thus, production and sales of vehicles directly affect the dynamics within the tire industry. Over the recent past, the automotive industry has registered significant growth and is expected to grow at the same rate over the projected period.