Overview and Scope
Polyurethane tires refer to a type of press-on tire that is lighter than rubber tires and has more resistance to splitting, tearing, or chunking out under load. They have good traction as well as low rolling resistance. Polyurethane tires have roughly twice the lifespan of rubber tires and should only be used indoors for light applications such as warehousing.
Sizing and Forecast
The polyurethane tire market size has grown strongly in recent years. It will grow from $1.36 billion in 2023 to $1.49 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to advancements in material science, increase in demand for sustainable materials, growth in industrial and material handling equipment, advantages in load-bearing capacity, expansion of warehouse and logistics industries..
The polyurethane tire market size is expected to see strong growth in the next few years. It will grow to $2.1 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to focus on lightweight and fuel-efficient solutions, increased adoption in electric vehicles, growing awareness of tire recycling, customization and tailored solutions, global events and supply chain dynamics.. Major trends in the forecast period include advancements in tire design, technological integration, elasticity and comfort, technological integration for smart tires, advancements in polyurethane formulations, noise reduction..
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Segmentation & Regional Insights
The polyurethane tire market covered in this report is segmented –
1) By Type: PPG Polyurethane, PTMEG Polyurethane
2) By Sales Channel: Original Equipment Manufacturer, Aftermarket
3) By Application: Forklifts, Overhead Conveyor Systems, Industrial Carts, Railroads, Industrial Washer Systems, Rollforming Machinery, Elevators, Hyperloops
Asia-Pacific was the largest region in the polyurethane tire market in 2023. North America was the second largest region in the polyurethane tire market in 2023. The regions covered in the polyurethane tire market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rapid expansion of the retail and e-commerce industries is expected to propel the growth of the polyurethane tire market going forward. The e-commerce industry refers to businesses and individuals who use the Internet to buy and sell goods and services. Due to the expanding trend of online shopping, the retail and e-commerce industries have experienced significant growth, which has led to an increase in the number of huge warehouses around the world. Polyurethane tires on forklifts are in high demand to transport goods in such warehouses. For instance, in January 2023, according to a report shared by Oberlo, a Germany-based eCommerce platform, global e-commerce growth rates had reached 17.1%, the highest year-over-year gain analysts anticipate between 2021 and 2026. E-commerce sales in the US are anticipated to jump from $907.9 billion in 2022 to $1.4 trillion in 2025, a stunning 50% increase. Therefore, the rapid expansion of the retail and e-commerce industries is driving the growth of the polyurethane tire market.
Key Industry Players
Major companies operating in the polyurethane tire market report are Trelleborg AB, Amerityre Corporation, Stellana AB, Thombert Inc., Uremet Corporation, Apexway Products Corp, TVS Group, Albion Casters, Softex Industrial Products Pvt. Ltd., Bermar Associates Inc., FallLine Corporation, Satyanarayan Rubber And Plastic Industries, T. Banerjee Industries, Jyoti Architectural Products Private Limited, Aleader Tire & Wheel Industrial Co. Ltd., BASF SE, Dow Inc., Saudi Basic Industries Corp, LyondellBasell Industries NV, 3M Company., China National Chemical Corp., Sinopec Group, DuPont de Nemours Inc., Mitsubishi Chemical Holdings Corp., Sumitomo Chemical Co Ltd., Acrotech Inc., Advanced Urethane Technologies Inc., American Urethane Inc., Argonics Inc., BNL Industries Inc., Casters of Amarillo Inc., Century Rubber & Cables Industries, Custom Rubber Corp., Dura-Belt Inc. .
The polyurethane tire market report table of contents includes:
1. Executive Summary
2. Polyurethane Tire Market Characteristics
3. Polyurethane Tire Market Trends And Strategies
4. Polyurethane Tire Market – Macro Economic Scenario
5. Global Polyurethane Tire Market Size and Growth
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31. Global Polyurethane Tire Market Competitive Benchmarking
32. Global Polyurethane Tire Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Polyurethane Tire Market
34. Polyurethane Tire Market Future Outlook and Potential Analysis
35. Appendix
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