P&S Intelligence published a new research report, titled, “Tire Mold Market: Global Industry Analysis and Forecast till 2030, Tire molding is the process of shaping raw rubber structure into a functional tire of specified dimensions and properties. The process includes designated pressure for the green tire in a mold to give it final shape, and heat energy to stimulate the chemical reaction between the rubber and other materials. The global tire mold market is expected to witness considerable growth during the forecast period (2020–2030), on account of rise in automotive ownership pattern, industrialization, population growth, and urbanization.
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The tire mold market on the basis of product is classified into segmented molds, and two-piece molds. Between these, the two-piece mold category dominated the market during the historical period (2014–2019), owing to the ease of operation and lesser complexity. Whereas, the segmented mold category is projected to witness faster growth during the forecast period, owing to higher efficiency in curing and molding of green tires.
The burgeoning demand for tire molds is attributed to increasing global sales of automobiles and tire replacement rate in vehicles. Tires are also considered a necessity for a heavy and oversized object to be portable. The increase in portability of objects has driven a considerable demand for the tires and subsequently tire molds. Recent growth in transportation, logistics, and mobility sectors is another major push for the tire mold market.
Global Tire Mold Market Size Breakdown by Segment
Based on Product
Segmented Molds
Two-Piece Molds
Based on Application
Passenger Car Radial (PCR)Tires
Truck & Bus Radial (TBR)Tires
Off-The-Road (OTR)Tires
