Pooja GangwalSept 13, 2019
In the early 1990s, green tires came into existence in Europe with the usage of precipitated silica treads in tires. This is due to growing awareness of environmental benefits, consumer appreciation for better handling and safety, and high energy costs. Over the years, the demand for green tires has risen exponentially across the U.S.
Green tires are made from renewable materials such as reinforcing fibers, carbon black, synthetic rubber, and plasticizers which does not require an extreme amount of energy. Presently, these eco-friendly raw materials tires are adopted over traditional tires, as they are lighter, which results in the reduction of the overall weight of the vehicle. This leads to less fuel and helps to lower rolling resistance or the energy required by tire's road contact and its deformation. Presently, the label green is used for the tires that are designed to enhance fuel economy.
The growing population and regulations pertaining to fuel economy imposed by governments, the demand for green transportation increased. Globally, tire makers are adding precipitated silica to tread formulation to improve tire performance, reduce greenhouse gas emissions, and enhance fuel efficiency. Declining rolling resistance or the amount of energy spent to move a vehicle is a key solution for reducing fuel consumption
In North America, annual decrease of up to 45 million tons of carbon dioxide gas could be attained by adding precipitated silica to tire treads. Silica will also significantly improve the steering and handling capability of a tire's in an adverse weather condition. Green tires have also shown to develop traction on icy roads.
In Europe, green tires are alternatively known as energy tires. Green tires also observed significant growth market in terms of business to all European tire suppliers and manufacturers. Followed by Japan, Europe is at the most advanced level in technology as compared to the U.S. and Asia Pacific.
The ever-increasing population has also resulted in the growing sales of passenger cars and commercial vehicles. However, the increasing demand for fuel-efficient tires will lead to high adoption of green tires. Stringent government regulations associated with tore labeling and emissions will thrive the market. All these factors are encouraging the manufacturers to push their investments in manufacturing of green tires.
The increasing acknowledgment of the environment damage caused by vehicular pollution is expected to contribute toward market growth. The cumulative amount of pollutants released by the vehicles are dangerous to the environment and human health. The problem gets compounded by the growing scarcity of natural petroleum resources. Thus, the application of green tires is considered to be a small step towards reducing pollution and its consequences.
QY Research report states that with the growing urbanization and rising pressure on fuel consumption will boost the popularity of green tires across the globe. Therefore, the global green tires market is anticipated to reach US$158.5 bn by 2025, registering a CAGR of 10.7% between 2019 and 2025.