Global Polyurethane Tire Market is anticipated to reach US$ XX Mn by 2026 from US$ XX Mn in 2019 at a CAGR of 5% during a forecast period.
Global Polyurethane Tire Market Overview
Polyurethane tires are widely adopted in industrial applications due to their load capacity, noise reduction, load-bearing capability, floor protection, better grip & traction, corrosion resistance, and material handling. They consist of properties like abrasion resistance, durable, flexible, and pliable thus are also used for indoor applications. Thus, Key players are coming up with new products and are providing new e-commerce platforms to improve the brand value. This has influenced many manufacturers to invest more in the polyurethane tire market.
The report also covers the detailed analysis of the global polyurethane tires industry with the classifications of the market based on type, sales channel and region. Analysis of past market dynamics from 2016 to 2019 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key player's contribution in it.
Global Polyurethane Tire Market
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The report has profiled key players in the market from different regions. However, report has considered all market leaders, followers and new entrants with investors while analyzing the market and estimation of market size. Manufacturing environment in each region is different and focus is given to regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed.
Global Polyurethane Tire Market Dynamics
The increasing demand for solid tires, superior properties, and expanding warehouse capacities are expected to spice up the worldwide polyurethane tires market. Growing demand for noise reduction in distribution centers & mechanical shop floors and buyer inclination towards online shopping in e-commerce & retail is anticipated to drive the development of the polyurethane tires market globally. Also, the properties like corrosion resistance, durability, flexibility, and several other environmental factors are making polyurethane tires highly robust and lifelong. This in turn is creating demand for the polyurethane tires market globally.
Similarly, the growth of the food and pharmaceutical sector, with the increasing use of polyurethane tires to handle material is driving the polyurethane tire market globally. Technological advancement and growing awareness among the consumers related to the advantages and availability of polyurethane tires are anticipated to create opportunities for the polyurethane tire market during the forecast period.
Global Polyurethane Tire Market Segmentation Analysis
By Type, the PTMEG Polyurethane has wider application as compared to PPG Polyurethane due to its thermal abrasive resistance property. Also, PTMEG-based polyurethanes exhibit superior resistance to hydrolytic cleavage, good mechanical property retention at low temperature, high resiliency, good processing characteristics, and excellent mechanical and dynamic properties. Thus, considering the above characteristics the PTMEG polyurethane segment is expected to drive the growth during the forecast period.
By Sales Channel, the polyurethane tires need to be replaced due to wear and tear as they develop tears and cracks, which is provided by the aftermarket. The replacement procedure is easy for polyurethane tires and requires less time, than rubber tires. Thus, the aftermarket segment holds the majority of the market share and is expected to continue its dominance in the forecast period. The demand for polyurethane is growing due to which, the number of aftermarket tire suppliers is also growing, driving the growth of the aftermarket segment. The aftermarket segment had USD xx Mn of market revenue in 2019 and is expected to reach USD xx Mn during the forecast period.
Global Polyurethane Tire Market
The Asia Pacific is leading the polyurethane tire market, Thanks to the industrial and food and pharmaceutical sector, e-commerce & retail, and construction segment growth in countries like China, India, Japan, South Korea, and others. The growth of warehouse booking in the Asia Pacific is expected to continue with the increasing numbers of industries in the region. Followed by North America, the countries in North America, such as the US and Canada have increased their demand for polyurethane to support the construction sector in the region.
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Global Polyurethane Tire Market Scope: Inquire before buying
Global Polyurethane Tire Market
Global Polyurethane Tire Market by Region
• North America
• Asia pacific
• Europe
• Middle East and Africa
• South America
Global Polyurethane Tire Market Key Players
• Trelleborg AB
• Stellana
• APEXWAY
• Xiamen Aleader Tire and Wheel Industrial
• Uremet
• Albion Casters
• Amerityre
• TVS Group
• Albion Casters
• Camso
• Continental AG
• The Yokohama Rubber Co. Ltd.
• Hankook
• Falline Corp
• Enbi
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