Worldwide Market Reports added Latest Research Report titled “Automotive Green Tire Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026” to its Large Report database.
Green tire is defined as a tire optimized for low rolling resistance using elastomers obtained from renewable materials. A green tire offers various advantages such as it is dimensioned, light, fuel-efficient, provides low rolling resistance, long-life, and retreadable tire. It is produced from renewable materials with a process that does not require large amount of energies. Green tires have already proven to have a significant impact on a vehicle’s total fuel consumption. Michelin developed the first green tire by adding silica to the rubber compound. This technology makes tires not only more energy efficient but also safer and longer-wearing. Green tire aims to reduce CO2 emissions in the manufacturing process by sing environmentally-friendly materials.
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Increasing demand for green products by growing population due to environmental concerns is a major factor driving growth of the automotive green tire market. Furthermore, there is low supply of virgin rubber, which will not be able to meet increasing demand in near future, use of green tire as a sustainable alternative is a fueling growth of the automotive green tire market. Moreover, oil prices are continuously increasing, which is increasing the cost of synthetic rubber. Effective utilization of water, hot water, steam, nitrogen, etc., and reduced leakages can reduce CO2 emissions. Adoption of manufacturing systems such as waste and rework reduction, unwanted process steps/material movement/cycle time reduction, in process material reduction, cure optimization and reduction/ standardization of a number of components in the green tire can lead to energy savings and lower CO2 emissions. These factors are major drivers for growth of the automotive green tire market. However, high cost of manufacturing is key factor restraining growth of the automotive green tire market.
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Key Developments of Automotive Green Tire Market
In 2009, new line of tires from Yokohama cuts four-fifths of the petroleum needed to manufacture a tire by infusing orange oil into natural rubber. The company offers dB Super E-Spec lines of tires in four different sizes for both 15-inch and 16-inch wheels, to fit smaller vehicles. The hybrids are the Toyota Prius and Camry Hybrid, the Honda Civic Hybrid, and the now-discontinued Honda Accord Hybrid. Honda has both the natural-gas vehicle–its Civic GX model–and the fuel-cell car, the Honda FCX Clarity. Furthermore, in 2018, Goodyear showcased new tire design to combat air pollution by using moss that powers internal sensors of tire and absorb carbon dioxide from the air. While in motion, tire can absorb moisture from road and pull carbon dioxide out of the air to fuel the photosynthesis of moss, which emits out oxygen as byproduct.
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