Report Description
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.
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.
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.
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.
Segments
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
Competitive Landscape
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.
Table Of Content
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)