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  • Tire Cord Fabrics Market Analysis | 2022-2028

    Tire Cord Fabrics Market Analysis | 2022-2028

    Tire Cord Fabrics Market Analysis | 2022-2028
    Report code - SRAM671 Delivery - 2 Weeks
    Tire Cord Fabrics Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Op See more...

    "The Tire Cord Fabrics Market is likely to grow from USD 5.8 billion in 2021 to USD 8.37 billion by 2028 at a CAGR of 5.3% during the forecast period of 2022-2028".

    Tire Cord Fabrics Market Size

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    Market Dynamics

    Introduction

    Tire cord fabrics are designed to keep tires in shape and support vehicle weight. They are used as reinforcing materials for tires and have a significant impact on tire performance. Tire cord fabrics are of different types, such as nylon, polyester, rayon, and others, that are used in a wide range of vehicles.

    All kinds of tire cord fabrics have their characteristic features like high tensile strength, wear and tear resistance, heat and fatigue safety, etc. For instance, nylon cords are prized for their tensile and shock absorbing properties while polyester cords offer stability and heat resistance. The make of the cord fabric depends on the overall performance characteristics of the tire such as load index, speed rating, and overall product life.

    Market Drivers

    The major factor contributing to the growth of the market for tire cord fabrics is the increase in demand for vehicles across the globe.  Besides, the global consumer spending on the tire cord fabric has increased from the rise in disposable income and increased focus towards urbanization which has increased the sales of passenger and commercial vehicles. Tire production technology, and fuel-efficient and durable tires campaigns keep on advancing further support this tendency.

    Segments Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Material -Type Analysis

    Nylon, Polyester, Rayon, and Others

    Nylon is projected to continue being the largest segment of the market throughout the forecast period.

     

    Tire-Type Analysis

     

    Radial Tires and Bias Tires

    The radial segment is expected to retain its dominance throughout the forecast period.

    Application-Type Analysis

    OEM and Replacement

    The replacement segment is anticipated to continue leading the market throughout the forecast period.

    Regional Analysis

    North America, Europe, Asia-Pacific, and Rest of the World

    Asia-Pacific is estimated to be the fastest-growing market during the forecast period.

     

    By Material Type

    “Nylon is projected to continue being the largest segment of the market throughout the forecast period”.

    The market is segmented as nylon, polyester, rayon, and others. Owning to the increase in demand for high-strength tire cord fabrics from different types of vehicles such as passenger cars, lightweight vehicles, and heavyweight vehicles, nylon accounted for more than 55% of the market share in 2021 and is expected to remain the largest segment of the market during the forecast period.

    By Tire Type

    “The radial segment is expected to retain its dominance throughout the forecast period”.

    The market is segmented into radial and bias tires. The radial segment accounted for the larger share of the market in 2021, owing to the increasing production of passenger cars. The segment is likely to maintain its dominance during the forecast period as well.

    By Application Type

    “The replacement segment is anticipated to continue leading the market throughout the forecast period”.

    The market is segmented into OEM and replacement. The replacement segment accounted for the largest share of more than 60% in 2021, driven by the increasing number of vehicles on the road and the age of vehicles. The segment is expected to lead the market during the forecast period.

    Regional Analysis

    “Asia-Pacific is estimated to be the fastest-growing market for tire cord fabrics during the forecast period”.

    The market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In terms of regions, Asia-Pacific is estimated to be the fastest-growing market for tire cord fabrics during the forecast period, owing to the surge in the production of cars in developing economies, such as China, India, and Indonesia. North America and Europe are also expected to offer sizeable growth opportunities during the forecast period.

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    Key Players

    The following are the key players in the Tire Cord Fabrics Market (arranged alphabetically)

    • Century Enka Limited
    • Cordenka GmbH & Co Kg
    • Firestone Fibers & Textile Company.
    • Hyosung Corporation
    • Indorama Ventures Public Company Limited
    • Kolon Industries Inc.
    • Kordsa Teknik Tekstil A.S.
    • SRF Ltd.
    • Teijin Ltd.
    • Toray Industries Inc.

    Note: The above list does not necessarily include all the top players in the market.

    Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    in-depth Analysis of the Tire Cord Fabrics Market

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research:

    Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The tire cord fabrics market is expected to grow at a CAGR pf 5.3% during 2022-2028.

    The tire cord fabrics market size is expected to reach USD 8.37 billion in 2028.

    The major factor contributing to the growth of the market is the increase in demand for vehicles across the globe.

    Asia-pacific is expected to be the fastest-growing market during the forecast period.

    Nylon is expected to remain the largest material type in the market in the coming years.

    Indorama Ventures Public Company Limited, Toray Industries Inc., Kolon Industries Inc., Hyosung Corporation, SRF Ltd., Kordsa Teknik Tekstil A.S., Teijin Ltd., Cordenka GmbH & Co Kg, Century Enka Limited, Firestone Fibers & Textile Company are among the key players in the market.

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