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Tire market forecast to reach $30.26 billion by 2021  

Thursday, March 23, 2017

Pune, India - The tires market for original equipment (OE) is projected to grow at a CAGR of 5.48 percent from 2016 to 2021, to reach a market size of $30.26 billion by 2021, according to the latest report by MarketsandMarkets. The OE market is primarily driven by the demand for improved fuel economy, low rolling resistance tires, eco-friendly and smart tires, and other factors. Passenger cars are expected to dominate the tires market for OE and replacement. According to OICA, the passenger car sales around the globe increased from 55.6 million units in 2010 to 66.3 million units in 2015. According to the same publication, the passenger car sales were ~73 percent of the total vehicle sales in 2015. With an increase in sales and increased average life of passenger cars, the passenger car fleet has also risen over the period of time. Based on another report from OICA, the passenger car fleet has risen from 776 million units in 2010 to 907 million units in 2014-2015. This rise in sales of passenger cars has influenced the demand for tires in the OE as well as in the replacement market. However, factors such as increased average replacement life of tires with advancement in technologies, and unawareness or unwillingness to replace the tires have been creating a minor influence on the tire replacement market. Light commercial vehicles are estimated to witness the highest growth in the retreading tires market. According to the Rubber Manufacturers Association, light truck retread accounted for only 1.67 percent of the tires aftermarket, in terms of volume. Retreading of tires has always been a popular concept with heavy commercial vehicles, but with time the potential benefits of using it for light commercial vehicles has been noticed. In a light duty vehicle, single tire manufacturing consumes, on an average, 26.4 liters of oil. However, retreading of the same tire consumes only 9 liters of oil, which is almost 34 percent of the new manufacturing process. On the other hand, according to the Retread Tire Association, the cost for a set of four large SUV tires is around $1,000. Almost 50 percent of the cost is saved by adopting retreading for light duty vehicles. Thus, retreading suppliers are now focusing on light duty vehicle retreading. Certain tire manufacturers are also entering the retreading business, such as The Goodyear Tire & Rubber Company (U.S.), which has more than 1,700 tire retreading and service centers for commercial vehicles. Asia-Oceania is estimated to dominate the tires market for OE and replacement. The growth in Asia-Oceania can be attributed to increasing vehicle production in countries such as China, India, Japan and South Korea. These Asian countries contributed ~46 percent of the global vehicle production in 2015. The increase in sales of the vehicles is owing to various factors such as increasing per capita income, increased infrastructure spending, attractive FDI from governments, economic production cost, lenient environment regulations, and so on. Additionally, the number of vehicles on the road is increasing owing to the improving road infrastructure, rising consumer awareness regarding vehicle maintenance, and stringent fuel economy norms. This positively affects the replacement market for tires. - * Email

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Final day to use $100 discount for the Rubber Division, ACS, online courses  

Thursday, March 23, 2017

Akron, OH - The Rubber Division, ACS, reminds rubber industry personnel that today is the final day to use the $100 discount off their online courses. The special offer runs through March 23 at www.rubber.org. Receive $100 off online courses with promo code: 100-Course. Enter promo code upon check-out when registering. This offer is only valid on the Division's online courses, not on-site courses or webinars. Online courses include Basic Rubber Technology; Intermediate Rubber Technology; and Advanced Rubber Technology. Upcoming courses taking place at the Rubber Division's Elastomer Training Center in Akron, OH, include: An Introduction to Continuous Vulcanization (March 28); An Introduction to Flexible Cellular Rubber (March 29-30); Tire Safety and Tear Strength (April 11); Tire Recycling/Repurposing (April 12); and Intermediate to Advanced Compounding and Testing of Rubber (May 9-12). Contact Christie Robinson, M.Ed., training and development director, at crobinson@rubber.org for more information. Visit www.rubber.org/upcoming-training to see more training opportunities through Rubber Division, ACS. - * Email

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McLube

Omnova Solutions announces price increase for Wingstay antioxidants  

Thursday, March 23, 2017

Beachwood, OH - Omnova Solutions announced a global price increase of $150 per metric ton for Wingstay L antioxidants. The increase is effective April 1, 2017. This pricing action is necessary to offset the cost of raw materials, which have been rising steadily since the beginning of the year, and to help ensure the long-term sustainability of Omnova’s antioxidant business. “Omnova is committed to remaining a leading, long-term supplier of Wingstay L products,” emphasized Veronique Le Du, Omnova’s business director, performance additives. “Our company is taking various actions to control costs and improve operational efficiencies in order to better support long-term market growth.” - * Email

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Mikael Fryklund appointed president and CEO of Hexpol AB  

Thursday, March 23, 2017

Malmo, Sweden - The board of directors of Hexpol AB has appointed Mikael Fryklund to president and CEO of Hexpol AB. The nomination committee of Hexpol AB will, as earlier announced, propose Georg Brunstam, present president and CEO of Hexpol AB, to become the new chairman of the board of Hexpol AB at the annual general meeting on April 28. Mikael Fryklund is at present, and since 2012, business area president within Trelleborg AB, and is part of the group management. Prior to holding his present position, Mikael Fryklund has experience in other management positions within the Trelleborg Group (since 2002) and the Bosch Group. Mikael Fryklund, born in 1963, holds an M.Sc. Eng., and also a B.Sc. in Business Administration. ”With the recruitment of Mikael Fryklund, Hexpol will have a CEO with broad international experience in the rubber and plastic industry. Mikael has, since 2012, successfully developed Trelleborg Industrial Solutions with strengthened global positions, organically as well as through acquisitions. I am confident that Mikael with his industry and acquisition experience will continue to develop Hexpol positively.” Mikael Fryklund assumes the position of president and CEO preliminarily on July 1, 2017. - * Email

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Firestone Building Products to acquire Gaco Western  

Thursday, March 23, 2017

Indianapolis, IN - Firestone Building Products Company announced that it has reached a definitive agreement to acquire Gaco Western, a leader in innovative silicone roofing systems and provider of top-tier waterproofing and spray foam insulation solutions for a variety of commercial and residential applications. The acquisition strengthens Firestone’s industry leadership in commercial roofing and offers positions in residential and commercial building products, reinforcing its commitment to be a leader in the building envelope solution. Firestone Building Products is part of Bridgestone Americas, the largest subsidiary of Bridgestone Corporation, the world’s largest tire and rubber company. “This acquisition supports our strategic plan to penetrate high-growth adjacent product segments,” said Tim Dunn, president of Firestone Building Products. “Adding Gaco’s product portfolio will expand our offering, broaden our customer base and reaffirm our commitment to being a total solutions provider. We are now also in a position to better capitalize on rapidly growing demand for liquid coating products and are excited about the opportunity to unearth the long-term value that exists in the combination of the two businesses.” Financial details of the transaction are not being disclosed. The acquisition is expected to be completed before the end of the first quarter 2017, subject to regulatory approvals and other customary closing conditions. Founded in 1955, Gaco is privately-owned and headquartered in Seattle, WA. With brands including GacoFlex, GacoRoofFoam and GacoWallFoam, the company produces silicone polyurethanes, epoxies and acrylic liquid coatings for roofs; decking and waterproofing products that protect pedestrian surfaces, concrete, metal and plywood; and open- and closed-cell foam products, which protect and insulate buildings. All Gaco products are made at its state-of-the-art manufacturing, research and development facility in Waukesha, WI. The combination will allow Firestone to provide customers with additional flexible and cost-effective products for their roofing needs. By delivering a high-quality repair product at a competitive price point, Gaco’s portfolio of silicone and acrylic liquid coatings offers an alternative for situations when full roof tear-off and rebuild are not an available solution. For contractors, these products allow for easier and less labor-intensive installation, significantly reducing costs. Additionally, the transaction enables Firestone to offer its customers access to Gaco’s unparalleled waterproofing solutions. “With over 60 years’ experience providing high quality products to our customers, we have successfully built a leading position in the silicone roofing and waterproofing segments,” said Peter Davis, Gaco chairman and CEO. “Firestone is the clear leader within the roofing industry and has a strong vision for the broader building envelope, combining best-in-class service, product and innovation, with a substantial distribution platform. We are excited at the prospects of joining Firestone as it allows us to continue to drive R&D, deliver innovative products to our customers and offer additional career opportunities to our employees.” - * Email

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Featured Website

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Interbusiness Group is a UNI EN ISO 9001:2008 certified leader in the manufacture and distribution of INTERCURE® accelerators, vulcanizing agents and curing agents for special elastomers. Family-owned and founded in 1985 to cater to a niche market, we are headquartered in Milan, Italy (Interbusiness S.r.l.), with a technical operations facility in Brindisi, Italy (IB Chem S.r.l.), and a network of globally positioned independent distributors. Our sister company in New York (INTERBUSINESS U.S.A., INC.) distributes throughout North America. Interbusiness is dedicated to excellence in products and services, manufacturing efficiencies, quality systems, increasing value to our customers, and environmental protection.

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