Global Tire Reinforcement Materials Market 2017-2023| Key Players- Dunlop, Goodyear, Bridgestone
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Growth in the automotive industry, owing to the increase in sales of passenger and commercial vehicles majorly drives the market. Moreover, rise in use of rayon and steel in the belts of car by automobile manufacturers, further leads to market growth. In addition, apart from belt textile, rayon is widely used for carcass reinforcement (made up of one layer of metal reinforcing elements). However, volatile prices of raw materials, such as rubber (accounting for 60% composition) for tire manufacturing pose a major threat in the tire reinforcement materials market. In addition, the rise in crude oil prices is expected to deter the market growth as crude oil derivatives such as carbon black, and nylon are used in tire manufacturing.
The global tire reinforcement material market is segmented based on type, material, and geography. By type, the market is bifurcated into tire cord fabric and tire bead wire. By material, the market is divided into steel tire, polyester tire, rayon, nylon, and others (rubber, fabric, and carbon black). Geographically, the tire reinforcement material market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Key market players in this sector involve Dunlop, Goodyear, Bridgestone, Bekaert, Hyosung, Kolon Industries, Kordsa Global, Toray Industries, SRF, and Cordenka.
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Tire Reinforcement Material Market Key Segments:
•Tire Cord Fabric
•Tire Bead Wire
•Others (Rubber, Fabric, and Carbon Black)
oRest of Europe
oRest of Asia-Pacific
oRest of LAMEA
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