Tire cords and tire fabrics are fabrics manufactured by using superior quality yarns. These cords and fabrics have better abrasion resistance, high tensile strength, controlled deformation, etc. They are majorly used across the tire industry especially in a rubber hose, air springs, and expansion joints. Polyester, steel, nylon, and rayon chords are some of the tire cords.

Robust growth in the automotive sector across the developing region due to the increasing production of automobiles is primarily fueling the market growth of tire cords and tire fabrics. According to the European Automobile Manufacturers Association, 98.1 million motor vehicles were produced around the world in 2018. More than 80 million passenger cars were produced around the world in 2017. Thus increasing production of automobiles is propelling the market growth.

The global tire coed and tire fabrics market is estimated to account for US$ 4,783.7 Mn in terms of value and 2,060.2 Kilo Tons in terms of volume by the end of 2019.

Top Key Players in Tire Chord and Tire Fabrics  market: Kolon Industries, Inc., Kordsa Global, Inc., Hyosung Corporation, SRF Ltd., Milliken & Company Inc., Firestone Fibers & Textile Company, Cordenka GmbH & Co. KG, Kordarna Plus A.S., Teijin Ltd., and Tokusen U.S.A., Inc.

The scope of the Report:

The report segments the global Tire Chord and Tire Fabrics Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of the market. A magnified look at the segment-based analysis is aimed at giving the readers a closer look at the opportunities and threats in the market. It also addresses political scenarios that are expected to impact the market in both small and big ways. The report on the global Tire Chord and Tire Fabrics Market examines changing regulatory scenarios to make accurate projections about potential investments. It also evaluates the risk for new entrants and the intensity of the competitive rivalry.

Regional Analysis:

Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Tire Chord and Tire Fabrics market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.

High demand for steel cords from the automotive industry is augmenting the market growth. Steel cords are produced from high steel that helps in reinforce radial tires in most sorts of vehicles. Moreover, steel cords provide higher strength and luxury during riding. This makes them ideal for private cars. Thus, the strong demand for steel cords is anticipated to stimulate the market growth over the forecast period.

Hybrid tire cord technology for the producing cords is expected to provide lucrative market opportunities in the near future. This helps in achieving the enhanced properties of the tire cords. Materials such as rayon, polyester, nylon, and aramid can be used to produce hybrid materials that can be further use in different vehicular performance needs. Thus, the use of different materials in combination for producing hybrid materials which helps in obtaining the desirable properties of the tire cords is propelling the market growth.

Manufacture are developing bio-based and eco-friendly materials for producing the tire cords due to growing awareness regarding the negative environmental impact of the raw materials used in manufacturing the tires. Nylon and polyester are two materials that are derived from crude oil. Due to rising awareness regarding the environmental hazards associated with petroleum-based products producers are developing bio-based materials for tire cords. This is projected to provide potential market opportunities over the forecast period.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: [email protected]