Tire Cords Market

Tire Cords Market By Types (Polyester Tire Cord, Hybrid Tire Cord, And Others), Applications (Radial Tires for Passenger Cars, Premium Tires, And Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021–2028

  • Report ID: AL-249
  • Author: Growth Market Reports
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  • No. Of Pages: 196
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The global tire cords market is anticipated to expand at a substantial CAGR during the forecast period, 2021–2028. Tire chords are essential parts of a tire, which are primarily used as reinforcing materials for tires and designed to keep tires in shape and enhance durability. In early days, cotton was used to be a key reinforcing material but, nowadays, steel, nylon, rayon, and polyester are widely adopted as the core materials. Tire cords act as reinforcing materials, is mainly applied for dimensional stability of a tire. The choice of tire cords mostly depends upon vehicle type and their load bearing requirement. Tire cords with higher rigidity offer excellent stability and handling, while cords with lower rigidity help in a comfortable ride.

Tire Cords Market By key Players

Market Drivers, Restraints, Trends, and Opportunities

  • Increase in demand for electric vehicles in the automotive industry in both developed and developing economies is a key driving factor for the market growth.
  • Rising demand for fuel efficient and durable tires is expected to drive the product demand.
  • Adoption of new technology in the automotive industry especially in the manufacturing of tires is anticipated to drive the market expansion.
  • Increasing price of raw material from natural rubbers to tire cords and chemicals is a key challenge that can hamper the market development.
  • Growing demand for passenger car and rapid development of the transport industry globally are expected to boost the market.
  • Growing demand for eco-friendly tire cords is projected to provide various immense opportunities for the market growth.

Scope of the Report

The report on the global tire cords market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
 

Attributes Details
Report Title Tire Cords Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
Base Year 2020
Historic Data 2018–2019
Forecast Period 2021–2028
Segmentation Types (Polyester Tire Cord, Hybrid Tire Cord, And Others), Applications (Radial Tires for Passenger Cars, Premium Tires, And Others)
Regional Scope Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
Report Coverage Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered Kolon Industries, Oriental Industries, Toray Hybrid Cord, Inc, Bekaert, Century Enka Limited, Cordenka GmbH and Co Kg, Formosa Taffeta Co., Ltd, Hyosung Corporation, Indorama Ventures Public Company Limited, and Xingda International.


Global Tire Cords Market Segment Insights

In terms of types, the tire cords market is divided into polyester tire cord, hybrid tire cord, and others. The polyester tire cord segment is likely to account for major share of the tire cord market during the forecast period. Polyester tire cord is a prominent material widely used in the automotive industry due to its high strength and excellent mechanical compatibility to absorb weight at extreme conditions. These key benefits are projected to boost the demand for tire cords during the forecast period. Aerospace and automotive industries are key consumers of the type of tire products.

Tire Cords Market By Types


Based on applications, the global tire cords market is segmented into radial tires for passenger cars, premium tires, and others. The radial tires for passenger cars segment is anticipated to account for a major share during the forecast period owing to increasing demand of car and consumer. Radial tires are various types of fabric cords that reinforce the tire. Tire fabric cords provide dimensional stability and help support the vehicle weight. These textiles are polyester cord fabrics, rayon cord fabric, nylon cord fabric, and aramid cord fabric. They are used to make the tire plies in passenger tires.

Tire Cords Market By Applications


In terms of regions, the tire cords market is broadly classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific constituted a major share of the tire cords market, followed by North America and Europe. Rise in demand for automotive vehicles in China, Japan, and South Korea is anticipated to augment the demand for tire cords in Asia Pacific during the forecast period. The market in North America and Europe is projected to expand at a moderate pace in the future due to the presence of well-established automotive suppliers and manufacturers in region.

Tire Cords Market By Regions

 

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Tire Cords Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Tire Cords Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Tire Cords Market - Supply Chain
  4.5. Global Tire Cords Market Forecast
     4.5.1. Tire Cords Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Tire Cords Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Tire Cords Market Absolute $ Opportunity
5. Global Tire Cords Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Tire Cords Market Size and Volume Forecast by Types
     5.3.1. Polyester Tire Cord
     5.3.2. Hybrid Tire Cord
     5.3.3. Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Tire Cords Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Tire Cords Market Size and Volume Forecast by Applications
     6.3.1. Radial Tires for Passenger Cars
     6.3.2. Premium Tires
     6.3.3. Others
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Tire Cords Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Tire Cords Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Tire Cords Demand Share Forecast, 2019-2026
8. North America Tire Cords Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Tire Cords Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Tire Cords Market Size and Volume Forecast by Types
     8.4.1. Polyester Tire Cord
     8.4.2. Hybrid Tire Cord
     8.4.3. Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Tire Cords Market Size and Volume Forecast by Applications
     8.7.1. Radial Tires for Passenger Cars
     8.7.2. Premium Tires
     8.7.3. Others
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Tire Cords Demand Share Forecast, 2019-2026
9. Latin America Tire Cords Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Tire Cords Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Tire Cords Market Size and Volume Forecast by Types
     9.4.1. Polyester Tire Cord
     9.4.2. Hybrid Tire Cord
     9.4.3. Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Tire Cords Market Size and Volume Forecast by Applications
     9.7.1. Radial Tires for Passenger Cars
     9.7.2. Premium Tires
     9.7.3. Others
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Tire Cords Demand Share Forecast, 2019-2026
10. Europe Tire Cords Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Tire Cords Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Tire Cords Market Size and Volume Forecast by Types
     10.4.1. Polyester Tire Cord
     10.4.2. Hybrid Tire Cord
     10.4.3. Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Tire Cords Market Size and Volume Forecast by Applications
     10.7.1. Radial Tires for Passenger Cars
     10.7.2. Premium Tires
     10.7.3. Others
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Tire Cords Demand Share Forecast, 2019-2026
11. Asia Pacific Tire Cords Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Tire Cords Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Tire Cords Market Size and Volume Forecast by Types
     11.4.1. Polyester Tire Cord
     11.4.2. Hybrid Tire Cord
     11.4.3. Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Tire Cords Market Size and Volume Forecast by Applications
     11.7.1. Radial Tires for Passenger Cars
     11.7.2. Premium Tires
     11.7.3. Others
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Tire Cords Demand Share Forecast, 2019-2026
12. Middle East & Africa Tire Cords Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Tire Cords Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Tire Cords Market Size and Volume Forecast by Types
     12.4.1. Polyester Tire Cord
     12.4.2. Hybrid Tire Cord
     12.4.3. Others
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Tire Cords Market Size and Volume Forecast by Applications
     12.7.1. Radial Tires for Passenger Cars
     12.7.2. Premium Tires
     12.7.3. Others
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Tire Cords Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Tire Cords Market: Market Share Analysis
  13.2. Tire Cords Distributors and Customers
  13.3. Tire Cords Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)

Types

  • Polyester Tire Cord
  • Hybrid Tire Cord
  • Others

Applications

  • Radial Tires for Passenger Cars
  • Premium Tires
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

 

Major players competing in the global tire cords market include Kolon Industries, Oriental Industries, Toray Hybrid Cord, Inc, Bekaert, Century Enka Limited, Cordenka GmbH and Co Kg, Formosa Taffeta Co., Ltd, Hyosung Corporation, Indorama Ventures Public Company Limited, and Xingda International.

The tire cords market is extremely fragmentated by the existence of numerous manufacturers, especially in developing regions. Manufacturers working in the tire cords market are gradually participating in research activities to find new and advanced techniques to develop advanced tire cords. The tire design represent as the main feature which is acting to increase the demand for the products at large scale.

Tire Cords Market By Key Players

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