Tire Cord Fabrics Market was valued at USD 7.06 Bn. in 2023. The Global Tire Cord Fabrics Market is estimated to grow at a CAGR of 3.9% and expected to reach USD 9.23 Bn. over the forecast period.
Tire Cord Fabrics Market Overview
The tire cord fabrics market is a vital component of the automotive industry, providing reinforcement materials that enhance tire durability, strength, and performance. These fabrics, typically made from polyester, nylon, aramid, and steel, are essential for maintaining tire shape and withstanding high levels of stress during operation. The market is driven by increasing vehicle production, rising demand for high-performance and durable tires, and the growing adoption of electric vehicles. Additionally, advancements in tire technology, such as lightweight and eco-friendly materials, are further boosting market growth as manufacturers seek to improve fuel efficiency and reduce carbon emissions.
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Market Forecast and Key Dynamics:
The tire cord fabrics market is poised for steady growth, driven by increasing global vehicle production and rising demand for high-performance tires in both passenger and commercial vehicles. Key dynamics influencing the market include the shift toward electric vehicles (EVs), which require specialized tires with enhanced durability and efficiency, and growing demand for lightweight, fuel-efficient tires. Innovations in materials, such as eco-friendly and high-strength synthetic fibers, are further boosting market expansion.
Tire Cord Fabrics Market Regional Insights
The tire cord fabrics market exhibits strong regional diversity, with Asia-Pacific leading the market due to its large automotive manufacturing base, particularly in countries like China, India, and Japan. Rapid urbanization, rising vehicle ownership, and increasing demand for high-performance tires are key drivers in this region. North America and Europe follow closely, fueled by steady demand from the automotive sector, particularly for premium and electric vehicles, which require specialized tire cord fabrics. In Europe, stringent environmental regulations are also pushing the adoption of eco-friendly materials.
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Tire Cord Fabrics Market Segmentation
By Material Type
Nylon
Polyester
Rayon
Aramid
Polyethylene Napthalate
By Vehicle Type
Radial Tire
Bias Tire
By Tire Type
Thin Gauge
Thick Gauge
By Application
OEM
Replacement
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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 are:
- What is Tire Cord Fabrics?
- What was the Tire Cord Fabrics market size in 2021?
- What is the growth rate of the Tire Cord Fabrics Market?
- Which are the factors expected to drive the Tire Cord Fabrics market growth?
- What are the different segments of the Tire Cord Fabrics Market?
- What growth strategies are the players considering to increase their presence in Tire Cord Fabrics?
- What are the upcoming industry applications and trends for the Tire Cord Fabrics Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Tire Cord Fabrics Market?
- What segments are covered in the Tire Cord Fabrics Market?
- Who are the leading companies and what are their portfolios in Tire Cord Fabrics Market?
- What segments are covered in the Tire Cord Fabrics Market?
- Who are the key players in the Tire Cord Fabrics market?
Key Offerings:
- 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 | 2022-2027
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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