TMRR in its latest research report states that the global market size of Tire Cord and Tire Fabrics market was $XX million in 2018 with XX CAGR from 2014 to 2018, and is expected to reach $XX million by the end of 2029 with a CAGR of XX% from 2019 to 2029.
Global Tire Cord and Tire Fabrics Market Report 2019 – Market Size, Share, Price, Trend and Forecast is an intuitive and exhaustive study on the current and future prospects of the global Tire Cord and Tire Fabrics industry. The key insights are elucidated as under:
- The report postulates key numbers on the market status of the Tire Cord and Tire Fabrics market manufacturers and is a reliable and valuable source of market intelligence for companies and individuals interested in the industry.
- The report provides an intrinsic overview of the industry including its market definition, market overview and market executive summary.
- The report depicts an in-depth analysis on the company profiles, product specifications, capacity, production value, of leading stakeholders in the Tire Cord and Tire Fabrics market
- The Tire Cord and Tire Fabrics market is further scrutinized through the SWOT analysis of key players for the competitive landscape analysis.
- The report also brings forth important trends in the Tire Cord and Tire Fabrics market that are changing the dynamics of the market.
- A detailed scrutiny of upstream raw materials, downstream demand, and current market dynamics of Tire Cord and Tire Fabrics market helps stakeholders take strategic decisions
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There are 4 key segments covered in this report: machine segment, product type segment, end use segment and regional segment.
Competitive landscape of Tire Cord and Tire Fabrics market has tier 1, tier 2 and tier 3 players and provides a dashboard view of their strategies and intensity mapping.
In 2010, the number of vehicles across the world crossed one billion mark, and the number continues to grow at a significant rate each year. This escalating requirement of vehicles of various kinds is a clear reflection of mounting global population and improving income in the urban areas. With the flourishing automotive sector, for which tires are integral part of, the demand in the global tire cord and tire fabrics is consequently surging. Moreover, the demand for technologically tires with added comfort and ride quality is gaining pace, and urging players in this market to invest in research and develop advanced fabrics. Conversely, environmental issues pertaining to disposing of worn-out tires is one factor that is significantly challenging the growth rate of this market.
Based on product, the global tire cord and tire fabrics market can be segmented into steel, nylon dipped, polyester, rayon, and others including aramid, fiberglass, and PEN. Out of these, steel tire cord fabrics segment remains the backbone of the market with maximum demand. Steel cord not only improve the mechanical strength of the tie but also adds stability. The segment of polyester tire cord fabric is also expected to expand rapidly during the forecast period, as it is now extensively used in passenger car tires, gaining from its low cost and desirable physical properties.
Global Tire Cord and Tire Fabrics Market: Market Potential
Conventional tires are made of materials that take a very long time to biodegrade, and hence the disposable of worn-out tires has always been a striking issue for the manufacturers. With growing awareness to reduce pollution and consumer preference for products that are biodegradable, the market is opening new opportunities for the players to develop bio-based and other environment friendly alternatives to the conventional tire. Governments across the world are also expected to offer subsidies to innovative eco-friendly products, and in turn help the market’s growth rate.
Global Tire Cord and Tire Fabrics Market: Regional Outlook
The U.S. is the most lucrative country as far as tire cord and tire fabrics market is concerned, accounting for considerably more than half of vehicles sold in the region of North America. Since the 2008 economic downturn, the U.S. automotive market has recovered significantly and is expected to stimulate business growth in North America. Asia Pacific, with vast population base, is another important region for the players in this market. Emerging economies such as India, China, Japan, and South Korea are the primary country-wide markets. European automotive sales are declining due to sluggish GDP growth, and hence the market for tire cord and tire fabrics in this region is expected remain moderate during the forecast period.
Global Tire Cord and Tire Fabrics Market: Competitive Analysis
Although smaller regional players are constantly challenging their market share with cheaper products, the global tire cord and tire fabrics is largely consolidated with only a few companies owning most of the shares. Kolon Industries, Inc., Kordsa Global, Hyosung Corporation, SRF Ltd., and Bekaert are some of the key players operating in this market, while Kordarna plus A.S., Milliken & Co. Inc., Cordenka GmbH, Firestone Fibers & textile Co., Tokusen USA are other notable vendors of tire cord and tire fabrics.
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For regional segment, the following regions in the Tire Cord and Tire Fabrics market have been covered
- North America
- Asia Pacific
- Latin America
Reasons to Purchase this Report:
- Market dynamics scenario, along with growth opportunities of the market in the years to come
- Market segmentation analysis and strategies for growth including qualitative and quantitative research incorporating the micro and macro-economic factors of the Tire Cord and Tire Fabrics market
- Regional and country level analysis and the demand and supply factors which are influencing the growth of the market
- Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
- Competitive landscape which includes market share of leading stakeholders, along with key mergers, acquisitions and product offerings
- 1-year analyst support, along with the data support
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