The eco-friendly green wave is spreading positively in the automotive industry. Technological innovations have made engines electric, and alternative fuels are also getting increasingly popular. Automotive manufacturers have been focusing on reducing their carbon footprint for several years, which has inadvertently shifted their focus towards making innovations in green tyre technology, that is, making tires ecofriendly. Major automakers such as Tesla have also begun adopting green tires.
The term ‘green tire,’ which refers to a form of environmentally safe rubber tires, has been gaining traction in recent times. Tires have a complex manufacturing process. Thus, their eco-friendliness can be measured by the environmental effects of tires during production, during its use, and during disposal.
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Eco-friendliness of a Green Tire during manufacture
One of the significant components of a green tire is the raw materials. Manufacturers have begun substituting rubber with a synthetic blend, often including silica. Besides rubber, manufacturers are also researching techniques to moderate the amount of petroleum used during the production process of a tire for more than a decade. Approximately 5 to 10 gallons of petroleum oil is needed to make a single tire. Making synthetic rubber is also hard on the environment, leading market players to try to cut synthetic rubber usage in half. Carbon black is used as a filler for treads, though, silica is more preferred as a substitute.
More sustainable plant-derived materials are making progress as substitutes for a range of tire components, such as soybean oil, sunflower oil in the place of petroleum, and flora-derived latex replacing rubber. Even oil extracted from orange peels has been used in place of more toxic chemicals. These materials, mainly silica, have notably improved the rolling resistance and wear, thus contributing longevity and durability to the tire lifespans. Major tire manufacturers are also trying to improve the green tire manufacturing process by purifying water pollutants produced as byproducts and reducing greenhouse gas emissions. Green tires can be made with more than 200 materials and more than 20 different types of rubber – each with their desirable characteristics.
Benefits of a Green Tire
Green tires employ a specific type of firmly bonded rubber in the tread blocks to preserve more energy while driving. This leads to relatively low rolling resistance, and consequently, less engine power exhausted in rotating the tire. Rolling resistance of a tire has been observed to account for up to 30% of a vehicle’s fuel consumption, and a fourth of its CO2 emissions. By reducing this, green tires can reduce a vehicle’s carbon footprint by up to 300kg a year. Simultaneously, the tires’ better fuel efficiency eases the strain on the environment and the driver’s budget. It has been noted that if all the vehicles were to be equipped with green tires, they would preserve up to 20 billion liters of fuel a year and reduce. Worldwide CO2 emissions by 50 million tonnes.
On the other hand, studies have also shown that low rolling resistance of green tires has not impacted negatively to the grip. They can notably perform better in specific tests than conventional tires. Their improved wet grip supports them to reduce the braking distance by several meters and consequently improves driving safety.
Worldwide Acceptance of Green Tires
Silica/Silane technology has mostly become the norm for vehicle tires in Europe. The new EU legislation has also made it compulsory to show an eco-rating on each new tire sold. The massive expansion of the automotive industry across advancing countries such as the US, China, India, and Japan, the green tires market worldwide, is also likely to expand considerably. This is due to the awareness among consumers as well as market players regarding global climate change and ecological issues.
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Key Questions Addressed by the Report
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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