The crucial component raising the demand for the rubber and tire industry in Europe are the growing investments for numerous tire manufactures, across different countries such as Luxembourg, Czech Republic, and more. In addition, the preference of passenger cars to public transportation is also continuing to fuel the growth of automobiles sales, leading to an increase in the demand for rubber. The global rubber market is expected to grow with a CAGR of 5.3 percent through the forecast period 2019-2027, and attain a market value of around USD 51 billion by 2027.
Tires hold the highest rubber market share due to the increasing production of them in different regions. The expanding R&D activities in the tire industry are estimated to increase market value, specifically, the innovative digitization and sustainability efforts of various organisations in the rubber and tires industry. Trends adopted by players in the industry include: more radials in tires in order to consume less fuel, focus on improved traction and on-road performance, and better tolerances in the manufacturing process. The use of silica to improve tire performance to enhance cut and chip resistance is another prominent trend among companies.
This edition of Manufacturing Technology Insights brings exclusive insights through our leadership articles, CIOs and CXOs. Thierry Wipff, Global Industrial Engineering Tires - Vice President chez Continental [ETR: CON] elaborates on innovative and efficient technologies offered by Continental Tires. While its services and products promote sustainability, its digital tire monitoring and tire management systems aim to increase efficiency. Further insights from leadership articles include Jerome Stanley, Director of Global Sales, Höganäs AB, and Ralf Anderhofstadt, Head of Center of Competence Additive Manufacturing - Daimler Trucks & Buses, Daimler Buses | EvoBus GmbH, discussing their ideas on current market trends practised in the industry.
Manufacturing Technology Insights also focuses on the Top 10 Rubber and Tire Solutions Providers under Europe in 2023, educating on the companies at the front lines of innovation. A world leader in the production of automatic dispensing system, Color Service introduces its automatic dosing system, its unique technology, in the rubber and tire industry. With a mission to provide its clients with a cost-effective solution, RubberJet Group offers its proprietary technology, High Pressure Water Jet, through which the first industrial production plant recycles end-of-life tires.
We hope this information on market trends and the viewpoint of thought leaders assist in making informed decisions for your company.
