Tire cord fabrics are a type of tyre reinforcing material made from high-quality yarns that is designed to support the vehicle's weight and keep the tyres in good condition. Polyester and nylon yarns of high quality are spun and polymerized before being twisted into S and Z twists and woven into fabrics.Tire cord fabrics are commonly used as reinforcing materials in the tyre manufacturing process to provide controlled deformation, high strength, and abrasion resistance to the end product. Rubber tubing, air springs, expansion joints, and conveyor belts are all made from these materials.
Tire Cord Fabrics Market Report Scope and Research Methodology
The goal of the market report is to provide a current and future market scenario. The market report contains data on demand, income generation, sales, and revenue. Clients are informed about various growth components that are likely to be similar across the Tire Cord Fabrics industry by segmenting the market into different segments and sub-segments. The report also includes the industry's top players, such as market leaders, new entrants, and followers. The Tire Cord Fabrics market study provides one-of-a-kind guidance in thoughtful details about the development factors, and it was created with the help of a To ensure accuracy, use a top-down and bottom-up approach. accurate. The Tire Cord Fabrics market report from SMR is the result of a study that used a variety of methodologies, including the PESTLE, PORTER, and SWOT analysis. The use of these methodologies provides insight into the Tire Cord Fabrics market's strengths and weaknesses, as well as macroeconomic and microeconomic factors.
Tire Cord Fabrics Market Report Overview:
The report includes information about Tire Cord Fabrics Market key players, as well as a detailed analysis of their growth strategies, financial data and capacity, geographical presence, and product portfolio. The report describes the fundamental dynamics of the Tire Cord Fabrics market, such as market drivers, opportunities, challenges, and restraints.
Tire Cord Fabrics Market Size was valued at USD 6.30 bn. in 2021. The Global Tire Cord Fabrics Market is estimated to grow at a CAGR of 3.9% and expected to reach USD 7.92 bn. over the forecast period.
Tire Cord Fabrics Market Regional Analysis
The report includes information on the Tire Cord Fabrics Market's key players, as well as a detailed analysis of their growth strategies, financial information and capacity, geographical presence, and product portfolio. The report explains the fundamental dynamics of the Tire Cord Fabrics market, such as the drivers, opportunities, challenges, and restraints.
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Tire Cord Fabrics Market Dynamics:
The increasing demand for tire cord fabrics in the automotive industry is a major driver of the Tire Cord Fabrics Market. Market growth, on the other hand, is being hampered by raw material price volatility and poor conditions caused by the COVID-19 outbreak. Rising demand for eco-friendly tires from the automotive industry is expected to provide a variety of opportunities for market growth over the forecasted period.Tire cord fabrics for automotive applications are expected to dominate the market during the forecast period. The Asia-Pacific region is the largest market and is expected to grow at the fastest rate during the forecast period, owing to rising consumption in countries such as China, India, and Japan.
Tire Cord Fabrics Market Segmentation:
According to material, the nylon segment of the tire cord fabric market is expected to grow the fastest. The rising demand for high-strength tire cord fabrics from a variety of vehicle types, such as passenger cars, lightweight vehicles, and heavyweight vehicles, is expected to keep the nylon segment growing during the forecast period. Some of the primary factors driving the segment share are nylon's excellent fatigue resistance, high tenacity, and improved adhesion to rubber properties. Furthermore, the lower moisture regain characteristic favored the production of wet condition tires.
Polyester accounted for a sizable portion of the tire cord fabric market in 2021. Polyester tire cords have a wide range of applications in the production of passenger car tires due to their low shrinkage, high strength, and low cost. The product is also gaining popularity as a component in the manufacture of hybrid tire cord fabric.According to vehicle type: On the basis of vehicle type, the Tire Cord Fabric market is divided into Passenger Cars and Commercial Vehicles. The passenger car segment has emerged as the market leader in tire cord fabric. The segment's growth is primarily due to factors such as rising demand for passenger automobiles in developing countries, as well as increased demand for long-lasting, fuel-efficient tires.
The commercial vehicle segment is expected to grow at a CAGR of 3.3% over the forecast period. Tire replacement rates are higher in commercial vehicles carrying heavy loads, such as buses, trucks, and trailers. As a result, the longer lifecycle and durability of tire cord fabric are expected to drive product adoption in the commercial vehicle category.
On the basis of tire type, the Tire Cord Fabric market is divided into Radial Tire and Bias Tire. Radial tires are gaining popularity due to their improved durability, stability, temperature performance, wear resistance, and fuel efficiency. Radial tires are common in passenger vehicles and light commercial vehicles.
Bias tires are widely used in the building, agricultural, and maritime industries. The bias tire segment is expected to grow at a CAGR of 3.2% over the forecast period due to its low cost, adaptability for difficult terrain, and capacity to carry heavy loads. However, the product's high rolling resistance, decreased wear resistance, and sensitivity to overheating features are likely to limit the segment's growth.By application: The tire cord fabric market is divided into OEM and replacement segments. The replacement segment is expected to dominate the tire cord fabric market during the forecast period. The dominance of the replacement segment can be attributed to the increasing number of vehicles on the road as well as their increasing age.
Tire Cord Fabrics Market Key Players: Indorama Ventures Company Limited (Thailand) Kolon Industries Inc. (South Korea) Hyosung Corporation (South Korea) SRF Limited (India) Kordsa Teknik Tekstil A.S. (Turkey) Teijin Limited (Japan) Toray Industries Inc. (Japan) Century Enka Limited (India) KORDÁRNA Plus a.s. (Czech Republic) Madura Industrial Textiles Ltd. (India) Cordenka GmbH & Co KG (Germany) Firestone Fibers & Textiles (USA) Shenma Industrial Co., Ltd. (China) Milliken & Company (US) Sohrab Group (India)
Key Questions answered in the Tire Cord Fabrics Market Report are:
- What is Tire Cord Fabrics Market?
- Who are the top Tire Cord Fabrics Market players?
- What was the Tire Cord Fabrics Market size in 2021?
- What is the expected Tire Cord Fabrics Market size by 2029?
- What will be the CAGR of the Tire Cord Fabrics market during the forecast period?
- Which region held the largest market share in the Tire Cord Fabrics Market?
- Which regional Tire Cord Fabrics market is expected to grow at a high rate during the forecast period?
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis of segments and sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
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