Michelin, the world s top tyre maker, on Monday posted record operating profits as a focus on premium products, including for SUVs, helped it survive an otherwise lacklustre year. Sales of premium and big tyres, in particular for SUVs, helped improve the company s performance, as did a drop in costs for raw materials from peaks hit in 2022.
Jk Tyre: A market leader in TBR (Truck & Bus Radial tyre) segment in India, the tyre major is looking to expand capacity majorly for the PCR (Passenger Car Radial) tyre category. This comes along with the rising consumer interest in SUVs over the past few years. It is aiming to expand across all its manufacturing facilities and produce 35 million units a year by FY25.
Ceat: This series incorporates two parts in it; LYFMAX X3 R and LYFMAX X3 D. Thus, it drives through superior steer and makes tyres with innovative features for curbing the downtime and operational costs.
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PORTLAND, Ore., May 26, 2021 /PRNewswire/ Allied Market Research recently published a report, titled, Liquid Synthetic Rubber Market by Product (Liquid Isoprene Rubber, Liquid Butadiene Rubber, Liquid Styrene Butadiene Rubber, and Others) and Application (Adhesives, Industrial Rubber, Tyre Manufacturing, Polymer Modification, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027 . As per the report, the global liquid synthetic rubber industry was pegged at $20.3 billion in 2019, and is projected to reach $28.8 billion by 2027, growing at a CAGR of 4.5% from 2020 to 2027.
Drivers, restraints, and opportunities
Increase in use of liquid synthetic rubber across the adhesive industry and rise in tyre production across the globe have boosted the growth of the global liquid synthetic rubber market. However, fluctuating raw material prices hinder the market growth. On the contrary, surge in product penetration in industrial rubber manufacturi