Global Polyurethane Tires Market is valued at approximately USD 1260 million in 2021 and is anticipated to grow with a healthy growth rate of more than 7.6 % over the forecast period 2022-2029. A synthetic rubber that combines the suppleness of rubber and the strength of plastic is used to make polyurethane tires. Abrasion resistance and reduced operational noise are features of polyurethane tires. Industrial vehicles and the material handling industry both use polyurethane tires extensively. These tires differ from typical rubber tires in that they can handle more weight and can withstand chemicals. In comparison to rubber tires, they are also more environmentally friendly. Tires made of polyurethane are perfect for heavy-duty lift trucks since they can support easily twice as much weight as tires made of rubber. The increasing demand for material handling equipment and the growing supply chain & logistics sector are key factors driving the market growth.
The increasing demand for material handling equipment due to increased storage capacity and improved inventory control at low labor costs is contributing towards the growth of the Global Polyurethane Tires Market. For instance, - as per Statista - in 2020, material handling equipment sales amounted to around 1.75 million units, and the sales are projected to reach over 3.1 million units by 2029. Also, growing industrialization in developing regions and increasing investment towards the development of multimodal logistics parks would create a lucrative growth prospectus for the market over the forecast period. However, the limited lifespan associated with Polyurethane Tires stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Polyurethane Tires Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the dominance of leading market players as well as the growing expansion of the automotive, food, pharmaceuticals, and transportation sectors in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising industrialization coupled with increasing application of forklifts and other material handling equipment in the transportation and logistics sector in the region.
Major market player included in this report are:
- Trelleborg AB
- Amerityre Corporation
- Stellan STELLA TYRE CO., LTD
- Thombert Inc
- Himaxar Ltd
- Uremet Corporation
- Apexway Engineering Private Limited
- TVS Group
- Albion Casters
- Xiamen Aleader Tire & Wheel Industrial Co., Ltd.
Recent Developments in the Market:
- In August 2022, Trelleborg AB announced the acquisition of Minnesota Rubber & Plastics to strengthen its product offerings in various industries. The company also aims to generate significant synergies in terms of lower costs and higher production efficiency.
Global Polyurethane Tires Market Report Scope:
- Historical Data: 2019-2020-2021
- Base Year for Estimation: 2021
- Forecast period: 2022-2029
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Type, Sales Channel, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Type
- PPG Polyurethane
- PTMEG Polyurethane
By Sales Channel
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- RoLA
- Rest of the World
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Million)
- 1.2.1. Polyurethane Tires Market, by Region, 2019-2029 (USD Million)
- 1.2.2. Polyurethane Tires Market, by Type, 2019-2029 (USD Million)
- 1.2.3. Polyurethane Tires Market, by Sales Channel, 2019-2029 (USD Million)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Polyurethane Tires Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Polyurethane Tires Market Dynamics
- 3.1. Polyurethane Tires Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing demand for material handling equipment
- 3.1.1.2. Growing supply chain & logistics sector
- 3.1.2. Market Challenges
- 3.1.2.1. Short lifespan of polyurethane tires
- 3.1.3. Market Opportunities
- 3.1.3.1. Growing industrialization in developing regions
- 3.1.3.2. Increasing investment towards development of multimodal logistics parks
Chapter 4. Global Polyurethane Tires Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. Industry Experts Prospective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Polyurethane Tires Market, by Type
- 6.1. Market Snapshot
- 6.2. Global Polyurethane Tires Market by Type, Performance - Potential Analysis
- 6.3. Global Polyurethane Tires Market Estimates & Forecasts by Type 2019-2029 (USD Million)
- 6.4. Polyurethane Tires Market, Sub Segment Analysis
- 6.4.1. PPG Polyurethane
- 6.4.2. PTMEG Polyurethane
Chapter 7. Global Polyurethane Tires Market, by Sales Channel
- 7.1. Market Snapshot
- 7.2. Global Polyurethane Tires Market by Sales Channel, Performance - Potential Analysis
- 7.3. Global Polyurethane Tires Market Estimates & Forecasts by Sales Channel 2019-2029 (USD Million)
- 7.4. Polyurethane Tires Market, Sub Segment Analysis
- 7.4.1. OEM
- 7.4.2. Aftermarket
Chapter 8. Global Polyurethane Tires Market, Regional Analysis
- 8.1. Polyurethane Tires Market, Regional Market Snapshot
- 8.2. North America Polyurethane Tires Market
- 8.2.1. U.S. Polyurethane Tires Market
- 8.2.1.1. Type breakdown estimates & forecasts, 2019-2029
- 8.2.1.2. Sales Channel breakdown estimates & forecasts, 2019-2029
- 8.2.2. Canada Polyurethane Tires Market
- 8.3. Europe Polyurethane Tires Market Snapshot
- 8.3.1. U.K. Polyurethane Tires Market
- 8.3.2. Germany Polyurethane Tires Market
- 8.3.3. France Polyurethane Tires Market
- 8.3.4. Spain Polyurethane Tires Market
- 8.3.5. Italy Polyurethane Tires Market
- 8.3.6. Rest of Europe Polyurethane Tires Market
- 8.4. Asia-Pacific Polyurethane Tires Market Snapshot
- 8.4.1. China Polyurethane Tires Market
- 8.4.2. India Polyurethane Tires Market
- 8.4.3. Japan Polyurethane Tires Market
- 8.4.4. Australia Polyurethane Tires Market
- 8.4.5. South Korea Polyurethane Tires Market
- 8.4.6. Rest of Asia Pacific Polyurethane Tires Market
- 8.5. Latin America Polyurethane Tires Market Snapshot
- 8.5.1. Brazil Polyurethane Tires Market
- 8.5.2. Mexico Polyurethane Tires Market
- 8.5.3. Rest of Latin America Polyurethane Tires Market
- 8.6. Rest of The World Polyurethane Tires Market
Chapter 9. Competitive Intelligence
- 9.1. Top Market Strategies
- 9.2. Company Profiles
- 9.2.1. Trelleborg AB
- 9.2.1.1. Key Information
- 9.2.1.2. Overview
- 9.2.1.3. Financial (Subject to Data Availability)
- 9.2.1.4. Product Summary
- 9.2.1.5. Recent Developments
- 9.2.2. Amerityre Corporation
- 9.2.3. Stellan STELLA TYRE CO., LTD
- 9.2.4. Thombert Inc
- 9.2.5. Himaxar Ltd
- 9.2.6. Uremet Corporation
- 9.2.7. Apexway Engineering Private Limited
- 9.2.8. TVS Group
- 9.2.9. Albion Casters
- 9.2.10. Xiamen Aleader Tire & Wheel Industrial Co., Ltd.
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption