Polyurethane Tire Market to Develop at CAGR of 7.6% during Forecast Period, TMR Study

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Nov 01, 2022, 06:30 ET

The growth of the supply chain & logistics and material handling industries is expected to help the global polyurethane tire market to reach USD 2.71 Billion by the end of 2031
Rapid expansion of the transportation, pharmaceuticals, food, and automotive industries in Asia Pacific is fueling the regional market growth

WILMINGTON, Del., Nov. 1, 2022 /PRNewswire/ -- A research report by Transparency Market Research (TMR) notes that the global polyurethane tire market is prognosticated to reach a value of US$ 2.71 Bn by the end of 2031. In addition, the review finds that the market for polyurethane tire is expected to grow at a CAGR of 7.6% during the forecast period, from 2022 to 2031.

Players are focusing on new product launches, merger, acquisition, and adoption of latest technologies in order to maintain their leading positions, notes TMR's study that delivers important insights on the polyurethane wheels and tires. Furthermore, companies are concentrating on the development of next-gen polyurethane tires for cars. This aside, enterprises are expanding their product portfolios in different polyurethane tires sizes. Such initiatives are likely to fuel the expansion of the polyurethane tire market.

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Polyurethane Tire Market: Key Findings

In the chemical industry, the demand for chemical-resistant polyurethane tires is being rising for use on factory floors, according to analysts of a TMR review on the polyurethane tire market. With rapid expansion of the retail and e-commerce industries due to rising trend of online shopping, there has been increase in the number of large warehouses across the globe. The demand for electric forklifts fitted with polyurethane tires is being in order to carry goods in such warehouses. Hence, the expansion of the material handling and supply & logistics industries worldwide is leading to high demand for polyurethane tires, state analysts at TMR.
The demand different material handling equipment is being increasing in the recent years owing to many factors including a surge in the need for loading and unloading applications, developments in the production and manufacturing industries, and rise in the transportation activities globally. Consequently, the popularity of forklifts is being rising during the material handling activities, states TMR study on the polyurethane tire market. Hence, the growth in varied industry verticals is leading to surge in the need for forklifts with multi-load and advanced handling capacities in numerous nations globally. This, in turn, is boosting the sales of polyurethane forklift tires, states a TMR study that enlightens readers on polyurethane tires stock.

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Polyurethane Tire Market: Growth Boosters

The expansion of the material handling and supply chain & logistics industries is creating profitable prospects in the polyurethane tire market
Increase in the use of polyurethane tires in forklifts is creating significant opportunities for business in the global market

Polyurethane Tire Market: Regional Analysis

The polyurethane tires analysis by TMR notes that the market is expected to gain profitable prospects in Asia Pacific during the forecast period owing to factors such as the existence of the emerging economies including India, China, Japan, and South Korea in the region. Moreover, the rapid expansion of the food, automotive, transportation, and pharmaceuticals industries in Asia Pacific is driving the growth in the polyurethane tire market.
The polyurethane tire market is estimated to gain sizable growth prospects in North America due to surge in the use of overhead conveyor systems and industrial forklifts in the region. This aside, rising support of the U.S. Government for hybridization and electrification of commercial vehicles is propelling the North America market.

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Polyurethane Tire Market: Key Players

Some of the key players profiled in the report are:

Amerityre
Trelleborg AB
Thombert
Stellana
Uremet
Himaxar
TVS Group
APEXWAY
Xiamen
Albion Casters
Bermar Associates, Inc.
Softex Industrial Products Pvt. Ltd.
Satyanarayan Rubber And Plastic Industries
Fallline Corp.
Jyoti Architectural Products Private Limited
T. Banerjee Industries
Aleader Tire & Wheel Industrial

Polyurethane Tire Market Segmentation

Type

PPG Polyurethane
PTMEG Polyurethane

Application

Forklifts
Overhead Conveyor Systems
Industrial Carts
Railroads
Industrial Washer Systems
Rollforming Machinery
Elevators
Hyperloops

Sales Channel

OEM
Aftermarket

Region

North America
Europe
Asia Pacific
Middle East & Africa
South America

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About Transparency Market Research

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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