Tire Mold Market

Tire Mold Market Outlook - 2027

The tire molding is the process of shaping a raw rubber structure into a functional tire of specified dimensions and properties. The process includes designated pressure for the green tire in a mold to give it a final shape, and heat energy to stimulate the chemical reaction between the rubber and other materials. A tire is a very important part of a vehicle, it has to be strong and flexible in the rubber casting to provide a supreme grip while attached to the rim of a wheel. The tire provides a gripping surface for traction and serves as a cushion for the wheels of a moving vehicle. The growing automobile industry all across the globe is expected to boost the tire mold market in the forecast period.

Market scope and structure analysis:

COVID-19 scenario analysis:

• With the slowdown in economic growth, the automotive tire industry has suffered a massive impact, as the fallout of coronavirus has pushed the impact beyond the R&D facilities, with other operational areas and retail network, which are key to the industry's future have impacted.
• The global lockdown because of Covid-19 has reduced tire demand from the auto sector due to lockdown across countries.
• Due to decline in crude oil prices, the rubber prices have increased, which in turn have increased the demand for synthetic rubber as compared to natural rubber during the lockdown.
• The manufacturers are facing the pressure of underpricing rates of manufactured products due to very less demand in the market.
• The overall economic activity is expected to pick up in an upcoming couple of quarters as the government’s recent measures are playing out more comprehensively.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Some of the factors that boost the growth of the market are increasing global sales of automobiles and tire replacement rates in vehicles. However, the price hikes in raw materials hinder the growth of the market. Furthermore, the government funding and support are expected to offer lucrative opportunities for the market in the forecast period.

The tire mold market trends are as follows:

Increasing global sales of automobiles

The automobiles sales have boosted across the globe over the past decade due to various reasons such as urbanization, the rapid increasing buying power of customers, increasing vehicle production, regulations related to fuel efficiency, and improvement in dynamics. Moreover, increase in global sales of automobiles has caused a major shift toward the the adoption of personal vehicle and it is expected to further boost the tire mold market in the forecast period.

Increase in tire replacement rate in vehicles

The automotive ownership pattern, industrialization, population growth, and urbanization has tremendously boosted the tire market over the past many decades. In addition, the growth of the tire market directly depends upon the growth of the commercial and non-commercial vehicle industry, the regular operation of automotive commercial vehicles will lead to an increase in the rate of replacement of tires. Hence, the growing automotive industry will fuel the growth of the tire mold market in the forecast period.

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the Tire Mold Market industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the Tire Mold Market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the Tire Mold Market scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed Tire Mold Market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions answered in the Tire Mold Market research report:

• What are the leading market players active in the Tire Mold Market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?

 Tire Mold Market Report Highlights