Global ‘green’ tyre market to surge past $85.79 billion milestone by 2035, sustainable materials market also growing fast
With consumers increasingly opting for eco-friendly products, and with tyres made with sustainable materials and energy-efficient production methods – known as green tyres – fitting the bill, already-good sales levels are set to rocket in the next few years. Specifically, the so-called “green” tyre market is projected to generate annual revenue of US$85.79 billion by 2033, up from $33.68 billion in 2023, reflecting a robust compound annual growth rate (CAGR) of 9.8 per cent from 2023 to 2033. The annual green tyre market value reached $31.13 billion in 2022, with a CAGR of 8.2 per cent from 2018 to 2022. So the latest figures are projecting significant ongoing growth.
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Michelin showing how it ‘makes fleets fit for the future’ at IAA
Whether its rising costs, staff shortages, legal requirements or the climate crisis, Michelin reports that it will show how it is contributing to finding solutions at the forthcoming IAA Transportation expo in Hanover. Specifically, with Michelin Connected Mobility, Michelin will be presenting a comprehensive solution for holistic fleet management at Stand B26 in Hall 19/20.
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Michelin invests to reduce CO2 at USA synthetic rubber plant
Michelin North America has made a US$50 million investment at American Synthetic Rubber Company (ASRC) to construct a natural gas boiler facility that will significantly reduce carbon dioxide emissions. The project at this Michelin-owned site in Kentucky entails the decommissioning and dismantling of the coal boilers at ASRC as well as the installation of a new boiler house with three natural gas boilers and a new boiler water treatment process.
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Advanced tyre & rubber materials supporting equipment at Paralympics
Bridgestone Corporation is extending its commitment to the Olympic and Paralympic Games Paris 2024 through a series of innovation projects in collaboration with adaptive athletes. Since becoming a Worldwide Paralympic Partner in 2018, Bridgestone has focused on promoting inclusivity in sports and society, both on a global scale and within local communities. This effort includes partnerships with adaptive athletes and non-profit organisations to improve access to adaptive sports activities.
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Paolo Pompei talks with T&A 1 year after Yokohama TWS acquisition
Roughly a year since our last interview, which focused on how Trelleborg Wheels Systems had been operating since the company’s acquisition by Yokohama, Tyres & Accessories visited the company’s Tivoli, Italy headquarters in order to meet up with Yokohama TWS chief executive Paolo Pompei and to find out more about what has happened in the first year of post-integration business. In the days following our visit, we learnt that Yokohama had agreed to buy Goodyear OTR and that Paolo Pompei has accepted the top job at Nokian Tyres – both headline-grabbing stories that make the timing of our interview all the more prescient. Specifically, Pompei’s description of how the various Yokohama off-highway businesses (ATG, TWS and Aichi – all of which were, of course acquisitions themselves) operate both semi-autonomously and together potentially provides an insight into how the newly-acquired Goodyear OTR operation may be integrated into the Yokohama stable.
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Petlas to launch 2 truck tyres at IAA
During IAA Transportation 2024, Petlas will highlight Petlass “strategic focus on keeping up with industry technology and maintaining high standards of quality”.
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Never-ending story: Germany’s insolvent wheel manufacturers
The complex situation surrounding the insolvency of Superior Industries Production Germany and BBS Autotechnik has taken another turn. Following the recent collapse of BBS Autotechnik’s bid to acquire the Superior plant in Werdohl, Germany, Superior’s insolvency administrator announced that investors linked with new BBS parent company, Turkey’s IS Holding, were considering acquiring the plant directly. This plan has now been scrapped, which may also explain the silence surrounding the sale of BBS brand trademark rights. A deal hasn’t yet been finalised, raising concerns as time begins to run out.
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Yokohama wins “Prime” status in ISS ESG ratings
The Yokohama Rubber Co., Ltd., has received “Prime” status for the first time in the latest ISS ESG ratings, the responsible investment arm of Institutional Shareholder Services Inc. (headquarters in USA). ISS ESG corporate ratings are based on its evaluations of companies’ environmental, social, and governance initiatives from the perspective of what is known as […]
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Speedline Truck showing wheels at IAA 2024
Speedline Truck is again exhibiting at IAA in Hanover from 17-22 September 2024. Specifically, Speedline Truck will be presenting its range of aluminium wheels in dimensions from 17.5 to 22.5-inch for tractor units, coaches, city buses and trailers in Hall 24, Stand D50.
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ZC Rubber revisits Jiangsu factory plan
After a 12-year pause, it appears that ZC Rubber decided on 12 August 2024 to restart its project to set up a tyre manufacturing facility in Jiangsu, China. The reactivated plan calls for an investment of RMB 5 to 6 billion (£539.1 million to £646.9 million), some 25 per cent less than the investment first announced in June 2012. ZC Rubber intends to build a 410,000 square metre production facility on a 56-hectare site. Construction will take place between 2024 and 2026 and result in a plant with a capacity to make 25 million semi-steel tyres annually.
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Dunlop Aircraft Tyres awarded $7.6 million US military contract
The U.S. Department of Defense reports that Dunlop Aircraft Tyres Inc. has gained a contract valued at an estimated US$7,640,593 from the Defense Logistics Agency Land and Marine in Columbus, Ohio. The Dunlop Americas facility in Mocksville, North Carolina will supply aircraft tyres Air Force, Navy, and Marine Corps. users over a three-year period, to 19 August 2027.
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GRI names USA Sales Managers
Off-highway specialty tyre manufacturer GRI has appointed Cara Junkins and Jeff Cole as National Sales Managers for the United States. The company states that these strategic hires underscore its commitment to strengthening market position and delivering exceptional value to customers in the North American region.
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Serial production begins in Tatneft’s Kazakhstan tyre plant
At a press conference held by the tyre division of Russia’s Tatneft Group on 12 August, division head Andrey Pantyukhov announced that its plant in Kazakhstan has commenced serial production. Pantyukhov, who is also chief executive officer of Ikon Tyres, additionally shared information about manufacture and branding across Tatneft’s tyre operations.
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Kumho to supply OE tyres for new Volkswagen Multivan
Kumho Tire is supplying ECSTA HS52 tyres as original equipment (OE) for the new generation Volkswagen Multivan. The ECSTA HS52 product will be provided in 235/55 R17 and 235/50 R18 sizes, according to the Korean tyremaker.
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Leadership changes within Goodyear India team
Goodyear India Limited has announced several changes within its management. The company’s Board of Directors has approved the appointment of Suni Modi as Interim Chief Financial Officer and Ganga Nandan Mishra as VP – Farm & Commercial PBU. Both commenced in their new roles on 14 August 2024. Furthermore, Sujit Guha, who is currently Goodyear India’s Head-Supply Chain, India (Senior Management Personnel), is moving to a different role within the Goodyear group from 2 September 2024.
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