2035 Tire Materials Market Insights: USD 128.2 Billion Growth Driven by Elastomers | Future Market Insights, Inc. [Yahoo! Finance]
Cabot Corporation (CBT)
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Source: Yahoo! Finance
Shifting preference towards the production of sustainable green tires is expected to complement the growth in the market. NEWARK, Del, Dec. 31, 2024 (GLOBE NEWSWIRE) -- The global tire materials industry is projected to witness steady growth, with sales anticipated to expand at a compound annual growth rate (CAGR) of 4.0% between 2025 and 2035. This consistent growth trajectory is expected to result in a market valuation of USD 128,201.5 million by the end of the forecast period. Factors such as the rising demand for vehicles, advancements in sustainable and innovative tire materials, and the increasing adoption of circular economy practices are key drivers of this expansion. Additionally, rapid urbanization and infrastructure development in emerging economies are further bolstering the market's growth potential. Increasing customer inclination towards comfort-traveling and the introduction of advanced automobiles has resulted in a significant rise in sales of automotive vehicles
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