Tire Industry Project (TIP), the tyre industry’s primary global forum on sustainability topics operating under the umbrella of the World Business Council for Sustainable Development, has launched its first Open Call for Projects (OCP). This is in line with the forum’s mission to anticipate, understand and address global environmental, social and governance issues relevant to the tyre industry and its value chain.

The OCP is an important component of TIP’s workplan for 2024 and 2025 with a focus on research and action for sustainability in the tyre lifecycle. In order to promote sustainable practices and environmental stewardship in the tyre business globally, the initiative is looking for project submissions that help define new research areas and objectives. Applications will be reviewed and chosen by an assessment committee made up of TIP Members and outside specialists. The deadline for proposal submission is 17 January 2025 (17:00 CET).

As part of the first OCP, TIP will provide financial support to research projects focused on the assessment and measurement of tyre wear emissions, as well as projects involved in the development of mitigation measures to advance the evaluated technologies towards demonstration in the relevant environment. In addition to integrating activities such as field sampling campaigns, chemical and particle characterisation of emissions, data analysis and modelling of tyre wear emissions distribution in the environment and development of TRWP and leachate mitigation measures and/or advancement of the evaluated mitigation technologies, participants are expected to introduce novel research concepts that will ideally lead to publication in peer-reviewed scientific journals.

Larisa Kryachkova, Executive Director, TIP, said, “The Open Call for Projects attests to TIP’s commitment to supporting high quality scientific research and evidence-based progress focused on the mitigation of tyre wear emissions and their diverse impact. We are reaching out to further broaden TIP’s relationships with researchers and experts in this field.”

Tolins Tyres Ltd, a Kerala-based manufacturer of tyres and precured tread rubber, reported a 1.3 percent increase in third-quarter profit despite revenue headwinds while announcing a significant supply agreement with Apollo Tyres and detailing ambitious expansion plans.

Net profit rose to INR 108.9 million in the quarter that ended 31 December, from INR 107.5 million a year earlier, while revenue declined 7.6 percent to INR 697.4 million. The company's EBITDA margin improved to 18.07 percent from 15.62 percent year-over-year, despite industry-wide cost pressures.

The company's manufacturing footprint spans three facilities covering 221,214 square feet, with two plants strategically located in Kalady, Kerala. The first Kerala facility focuses on tyre and PCTR (Precured Tread Rubber) production, while the second specializes in rubber compound manufacturing. A third facility, operated by wholly-owned subsidiary Tolins Tyres LLC in Ras Al Khaimah, UAE, specialises in PCTR production.

In terms of production capacity, Tolins maintains an annual manufacturing capability of 1.51 million tyres, 12,486 tonnes of tread rubber, and 17,160 tonnes of rubber compounds. The company has shown strong financial performance for the nine months ended December 2024, with revenue increasing 4.56 percent to INR 2.23 billion and PAT surging 54.65 percent to INR 294 million. EBITDA grew 31.55 percent to INR 426.4 million, with margins expanding to 19.13 percent from 15.20 percent.

"Despite seasonal fluctuations affecting Q3 revenue, we maintained strong profitability through strategic cost optimization and operational efficiency," said Chairman and Managing Director K V  Tolin. "The Apollo Tyres Offtake Agreement represents a significant milestone for enhancing capacity utilisation,” said he.

Operational metrics reveal that tyre segment capacity utilization reached 35.79 percent for 9MFY25, while PCTR utilisation stood at 38.51 percent in India and 55.60 percent in UAE operations. The company has successfully reduced its export dependency, with export contribution decreasing to 5.60 percent in 9MFY25 from 17 percent in FY24. Customer concentration has improved, with the top 10 customers now accounting for 48.85 percent of revenue.

The company's comprehensive product portfolio includes light commercial vehicle tyres, agricultural and off-the-road tyres, two/three wheeler tyres, precured tread rubber and ancillary products such as bonding gum and vulcanizing solutions. Looking ahead, Tolins aims to increase capacity utilisation to 75 percent over the next few years while expanding its market presence both domestically and internationally.

Apollo Tyres Ltd plans to increase its capital expenditure in fiscal year 2026 to address capacity constraints, particularly in its passenger car segment, as the Indian tyre maker sees raw material costs stabilising after recent pressures.

The company expects to spend approximately INR 8 billion on growth capital expenditure in FY26, above its capex of INR 7-7.5 billion for FY 25, Chief Financial Officer Gaurav Kumar told investors during an earnings call.

"We are extremely tight on passenger car tyre capacity," Kumar said, adding that the expansion would increase capacity by about 7-8% in India and slightly more in Europe, with the European growth focused on the Hungarian plant.

Raw material costs, which rose 15 percent year-on-year and 2 percent sequentially in the third quarter to INR 175.5 per kg, are expected to plateau in the fourth quarter. Natural rubber prices stood at 215 rupees per kg during Q3, while synthetic rubber and carbon black were at INR 195 and INR 125 per kg, respectively.

The tyre maker is targeting expansion in new markets, with Managing Director Neeraj Kanwar identifying the United States and Saudi Arabia as key growth areas. The company's European operations are running at over 90 percent capacity utilisation, while Indian passenger car tyre operations are in the high 80s.

Despite cost pressures, Apollo maintained its EBITDA margin at 13.7 percent in Q3, though management indicated these weren't satisfactory levels. The company is holding off on price increases in the near term due to competitive market conditions.

"We expect recovery in operating performance held by higher top-line momentum across both India and Europe," Kanwar said, citing early signs of demand improvement in the current quarter.

Japanese tyre major the Yokohama Rubber Co., has begun supplying its Advan Sport EV tyres as original equipment for the new Leapmotor C16 SUV. The EV was first introduced by China-headquartered Zhejiang Leapmotor Technology Co., in June 2024.

Yokohama will supply 245/45R21 104V XL tyres for the front and 255/45R21 106V XL tyres for the rear. It shared that the Advan Sport EV is an ultra-high performance summer tyre for premium EVs.

Based on Yokohama Rubber’s Advan Sport V107 tyre for high-performance cars, the Advan Sport EV was developed to meet the needs of EVs. The company uses a compound proven to reduce tyre rolling resistance and a tread pattern that enhances drainage. This it shared enables in reducing energy usage all the while improving wet performance appropriate for premium EVs.

The C16 is a six-passenger SUV flagship model from Leapmotor and features the company’s proprietary ‘Four-Leaf Clover’ electrical/electronic (E/E) architecture, which integrates and efficiently controls various vehicle systems.

Bekaert has officially announced its active partnership in the ECO2Fuel project, a groundbreaking initiative aimed at addressing climate change and at advancing decarbonisation efforts.

Bekaert's vast experience in creating Porous Transport Layers (PTLs) has proven crucial for the ECO2Fuel project. A high-performing part of the CO₂ electrolyser system, its Nickel Porous Transport Layer adds to the 50-kW system's efficacy and efficiency. Upscaling to a 1-MW system by 2026 is a significant milestone ahead for the ECO2Fuel project.

At the vanguard of innovation, the ECO2Fuel project is expanding the capabilities of CO₂ conversion technology. The project is increasing the scalability and efficiency of sustainable fuel generation by creating one of the biggest 50-kW CO₂ stack electrolysers. The increased performance and gas reuse made possible by this state-of-the-art system's greater operating pressures are crucial in increasing the viability of carbon capture utilisation in industrial settings.

The project has effectively included cutting-edge components that improve durability and efficiency in addition to scaling up electrolyser technology. These advancements, which range from next-generation catalysts and membranes to high-performance porous transport layers, guarantee the system's dependability in trying circumstances.

By concentrating on carbon capture and utilisation (CCU), the initiative aims to produce synthetic fuels from collected CO2 in order to establish a circular economy. In addition to lowering emissions, this creative strategy enhances renewable energy sources. For sectors like steel and cement that are difficult to decarbonise, the ECO2Fuel project is important. Due to their high energy requirements and heavy reliance on fossil fuels, these industries make it challenging to reach carbon neutrality with just renewable energy. The ECO2Fuel project provides a workable way to cut emissions in these hard-to-electrify industries by turning CO₂ into useful e-fuels.