Tire Sealant Market Size, Share, Growth, and Industry Analysis, By Type (Latex-based Sealant, Latex-free Sealants and Others), By Application (Bicycle, ATV, Wheelbarrow, Scooter, Moto, Auto, Truck and Others), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

tire sealant market REPORT OVERVIEW

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The global tire sealant market size was USD 1398 million in 2021 and is projected to touch USD 1892 million by 2027, exhibiting a CAGR of 5.17% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

tire sealant is a substance used to fill punctures in tire treads. It is often formed of latex or similar polymer and can be applied to tires using a specific pump or syringe. Some sealants also contain an anti-corrosion ingredient to assist prevent rusting inside the tire. While most are intended to be used only temporarily, other products claim to be able to heal tire damage permanently. The sealant can be an effective strategy to extend the life of your tires and avoid costly repairs or replacements.

The increasing need for sealants in various applications such as bicycles, ATVs, Wheelbarrows, scooters, mopeds, and motorcycles is driving the growth of this market. The increased demand for these products is also attributed to the increasing number of automobiles on the world's roads and highways. The increased number of vehicles and the resulting increase in tire failures are also attributable to market growth. Furthermore, increased end-user awareness of vehicle safety has resulted in an increase in demand for the market of sealants of tire.

COVID-19 Impact: Decreased Automotive Use and COVID-19 Impact on Commercial Fleets Deflated the Market Share

Many regions saw a decrease in car use due to lockdowns, travel restrictions, and economic instability. Fewer individuals were driving their vehicles, which may have resulted in a decline in the market demand. Automotive-related products, such as the sealants for tires, underwent a shift in sales channels. With more consumers turning to online purchasing during lockdowns, online sales of the sealants may have increased while brick-and-mortar retailers had difficulties. Commercial vehicle fleets, such as those utilised for delivery services, were affected differently by the epidemic. Some saw increasing demand due to an increase in e-commerce delivery, while others saw decreased activity. The impact on the commercial vehicle sector may have influenced the market demand.

LATEST TRENDS

"Growing Interest in Eco-Friendly Solutions and Advanced Formulations to Drive the Market Share Potentially"

Environmental concerns and laws fueled a trend for eco-friendly and non-toxic tire sealants. Consumers and businesses were increasingly looking for environmentally friendly items that were also safe for tires. The sealant formulation advancements targeted at enhancing performance, such as improved sealing capabilities, longer-lasting effects, and compatibility with a broader range of tire types.

tire sealant market SEGMENTATION

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• By Type

Based on type the tire sealant market is classified as latex-based sealant, latex-free sealants and others.

• By Application

Based on application the tire sealant market share is classified as bicycle, ATV, wheelbarrow, scooter, moto, auto, truck and others.

DRIVING FACTORS

"Various Benefits and Applications in Automotive Sector to Boost the Market Growth "

The sealants for tire are often used by motorists as a quick and convenient method for fixing punctures caused by nails, screws and other sharp things. They are frequently used in emergency situations to maintain tire pressure and avoid flat tires. The market has grown steadily over the years, owing to reasons such as increased vehicle ownership, the demand for tire care solutions, and a growing knowledge of the benefits of utilising the sealants for tires. The sealants have various advantages, including convenience of use, quick tire inflation, and the capacity to fix several punctures with a single application. They are also thought to be a more cost-effective alternative to typical spare tires.

"Extended Applications Beyond Automotives and Online Sales to Multiply the Production and Market Growth"

Beyond automotive uses, the sealant for tire market was increasing with products tailored for bicycles, motorbikes and off-road vehicles. The sealant can be used on bicycle tires for a variety of purposes, including filling the air cavity, mending punctures and leaks, and lowering weight. The sealant can also be used to increase tire grip on the road. It is simple to apply and can be used straight on the tires. Some benefits of utilising the sealant include the fact that it is less untidy than traditional procedures such as patch kits or tube replacement. Many people purchase tire sealant products through e-commerce platforms, indicating a move towards online sales and distribution networks.

RESTRAINING FACTORS

"Limited Effectiveness and Compatibility Issues to Restrain the Market Growth"

Tire sealants are generally used to seal minor punctures caused by nails or screws. They are often ineffective for fixing larger or more severe tire damage, such as cuts, gashes, or blowouts. Not all tire sealants are suitable for all types of tires. Before using the sealant, ensure that it is compatible with your specific tire type. Using an incompatible sealant could cause damage to the tire or render it unrepairable. As a result, the compatibility issues and limited effectiveness stifle the tire sealant market growth.

tire sealant market REGIONAL INSIGHTS

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"North American Region to Dominate the Market with Major Production and Multiplying Manufacturers"

Tire sealants market share have long been a substantial business in North America, particularly in the United States and Canada. The region boasts a thriving automotive industry with a significant emphasis on vehicle maintenance and safety. Commercial trucks and off-road vehicles have been significant categories boosting the market demand. Because of the increasing number of vehicles on the road and the growing demand for automotive maintenance goods, the area has seen significant expansion in the tire sealants market.  All these factors combined are significantly contributing in the regions tire sealant market share.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The market is highly competitive and has both international and local participants. The introduction of new and improved products, collaborations, mergers and acquisitions, joint ventures, and other strategies include major actors.The report is a thorough investigation of a list of market participants who support market growth. The information is a synthesis of the most recent trends, mergers and acquisitions in the manufacturing industry, market research, and technological advancements. To comprehend the market share, product growth, revenue growth, and other elements during the anticipated term, further factors like regional and segmental analysis are also taken into consideration.

List of Market Players Profiled

• Bikeradar (U.S.)
• Canadian Tire (Canada)
• Casite (U.S.)
• Slime (U.S.)
• Fix-A-Flat (U.S.)
• Berryman (India)
• LiquiTube (U.S.)
• Mavic (France)
• Royal Oil Co (U.S.)
• Ride-On (U.S.)
• REI Co-op (U.S.)
• Orange Seal (U.S.)
• Hopkins (U.S.)
• Quadboss (U.S.).

REPORT COVERAGE

This report covers a comprehensive backdrop analysis, an assessment of the parent market, intensive study in the market dynamics. Past historical, current, and projected size of the market from the point of both value and volume. Researching  of recent industry developments,  deep study on market shares and strategies of major players and the emerging niche segments and regional market areas are covered in the report.