Rubber process oil and Tyre market in Asia
The rubber processing chemicals market is mainly driven by the growth in the demand for automobiles. Rubber processing chemicals are used to enhance the properties of rubber used in the manufacture of tires. With the growing population and increased spending by the consumers, the demand for automobiles has increased which in turn has led to the increased demand for rubber processing chemicals. These chemicals add superior qualities to the rubber.
The most important role which cause high demand for rubber process oil is automobile segment which boosts demand of rubber processing oils. As mentioned the rubber processing chemicals market is usually affect by the growth in the demand for automobiles. Rubber processing chemicals are used to enhance the properties of rubber used in the manufacture of tires. With the growing population and increased spending by the consumers, the demand for automobiles has increased which in turn has led to the increased demand for rubber processing chemicals. These chemicals add superior qualities to the rubber.
Asia is the fastest-growing market for rubber processing oils and chemicals. The increasing request for rubber processing oil chemicals from the tire industry is further driving the market in this region. The economic development in the region has led to the increased demand for vehicles, which in turn drives the market for rubber processing chemicals.
Here we take a look at some companys which produce Tyre around the world:
Philippines tyre market
Due to governmental support of automobile, tyre making sector needs to import more rubber process oil .according to newly researched tyre market, the tyre market in the Philippines is forecast to cross usd970 million. Major factors propelling growth include increasing concentration of automobile oems in the country, rapid infrastructure developments, and favorable trading and policy environment. Region-wise, a major portion of the demand for tyres is expected to stem from the national capital region (ncr) of the country due to high levels of urbanization and a large automotive fleet size in the region.
Uae tyre market
Passenger car tyre remained the leading market segment in 2013, holding significant majority share in volume as well as value sales. Urban cities in the uae such as dubai, abu dhabi and sharjah are among the leading demand generators for tyres. Industry events such as automechanika' and green auto show' also have a profound impact on the uae's ever-growing automotive trade, which in turn are influencing tyre sales in the country. Global automotive tyre manufacturers such as bridgestone, michelin, continental, goodyear, and pirelli are the key tyre players in the country. The uae is among the major economic epicenters in gulf cooperation council due to the presence of significant oil reserves. The country is characterized by affluent consumers with high purchasing power at par with most of the developed countries worldwide. On account of significant industrial growth, the country's automotive industry has been flourishing at a rapid pace. In addition, the country has been witnessing immense developments in infrastructure in the form of new hotels, commercial complexes and sky-rise buildings being built. All these factors are creating significant impetus in the country's tyre demand.