ERJ staff report (BC)
Leatherhead UK – The global market for “green” tires is forecast to reach $70.6 billion by 2017, according to Smithers Rapra (SR) in a new market report.
SR defines “green” tires as those optimised for low rolling resistance and/or using materials, especially elastomers, derived from renewable (sustainable) resources. The largest sector of the green tire market is currently low-rolling-resistance tires, says SR, termed “energy tires” in the report.
SR estimates that over 1.5 billion tires are currently produced each year, with a total value of about $160 billion. This is expected to rise to nearly $203 billion by 2017. Rapidly rising “green” concerns, including greenhouse gas emissions and resource availability, are cited as the main drivers behind this growth, with “green” tires accounting for 35% of the total tire growth over the forecasted period 2012-2017.
“The Future of Green Tires to 2017” examines this market with qualitative and quantitative market forecasts, showing key analysis, trends and drivers.
Forecasts to 2017 are broken down by geographic region, with production and consumption trends highlighted.
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