In terms of demand Asia-Pacific was the largest market for tire raw materials followed by North America and Europe. Asian countries such as China, India dominated the demand for tire raw materials in Asia Pacific on account of growing automotive industry in this region. In North America, U.S was the major market followed by Canada and Mexico. The demand for tire raw materials is expected to witness strong growth from countries such as Brazil, Indonesia, Russia etc. in the next few years. The demand for tire raw materials from Europe is also expected to be high on account of growing automotive demand in this region.
Some of the major companies operating in the global tire raw materials market are SRF Limited, Bakaert Corporation, Kordsa Global, Hyosung Corporation, and MRF among others.