Industrial Yarn Products For V Belts And Industrial Hoses Market Share to Witness Steady Rise in the Coming Decade

Growing use of Industrial Yarn as Reinforcement in Various End-Use Industries to Drive Growth of Industrial Yarn Products for V-Belts & Industrial Hoses Market

Industrial Yarn Products for V-Belts & Industrial Hoses Market: Introduction

Industrial Yarn Products for V-Belts & Industrial Hoses are special type of yarns manufactured to be used as reinforcements in v-belts, hoses, tires, airbags, etc. Industrial yarn reinforcements add stability, flexibility, strength and durability to v-belts and hoses and thus, increase the life span and efficiency of final products. Given the wide applications of industrial hoses and v-belts across a number of manufacturing industries, Industrial Yarn Products for V-Belts & Industrial Hoses are expected to register significant demand in the coming years.

The global Industrial Yarn Products for V-Belts & Industrial Hoses market is estimated to grow at a CAGR of 4.4%, reaching a market value of US$ 4.8 Bn by the end of projected period. Growth in various end-use industries and growing applications are the two factors expected to create significant growth opportunities in the Industrial Yarn Products for V-Belts & Industrial Hoses market during the forecast period.

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Industrial Yarn Products for V-Belts & Industrial Hoses Market Analysis by Product Type

By product type, the dipped single end cords segment is expected to lead in terms of value and volume in the global Industrial Yarn Products for V-Belts & Industrial Hoses market. The segment is estimated to have accounted for approximately 83.2% share in the Industrial Yarn Products for V-Belts & Industrial Hoses market by the end of 2018 while the braiding yarns segment is projected to grow at a value CAGR of 4.3% during the forecast period. The demand for dipped single end cords in the Industrial Yarn Products for V-Belts & Industrial Hoses market is expected to be driven by the growing automotive and tire industries.

Industrial Yarn Products for V-Belts & Industrial Hoses Market Analysis by End-Use Industry

On the basis of application, the tires segment is expected to create very high demand in the Industrial Yarn Products for V-Belts & Industrial Hoses market. Production of tires is directly proportional to volume consumption of reinforcements. Thus, increasing production of tires will propel the growth of Industrial Yarn Products for V-Belts & Industrial Hoses during the forecast period.

Industrial Yarn Products for V-Belts & Industrial Hoses Market Analysis by Region

From a regional standpoint, China is poised to be a prominent region in the Industrial Yarn Products for V-Belts & Industrial Hoses market, in terms of market share. Growing end-use industries in the region are expected to drive the demand for Industrial Yarn Products for V-Belts & Industrial Hoses. India and Middle East & Africa are projected to register notably high CAGR in the Industrial Yarn Products for V-Belts & Industrial Hoses market during the forecast period.

industrial yarn products for v belts and industrial hoses market

Industrial Yarn Products for V-Belts & Industrial Hoses Market: Drivers

Rapid Industrialization to Promote End-Use Industries’ Growth and Drive Demand for Industrial Yarn Products for V-Belts & Industrial Hoses

Industrialization is one of the key driving factors for the growth of Industrial Yarn Products for V-Belts & Industrial Hoses market. Industrialization has been growing at a rapid pace across developing economies, such as China and India, due to the growing population and growing consumer needs. Growing use of industrial yarn products for v-belts & industrial hoses in end-use industries and growth in manufacturing sector are two important factors expected to contribute towards the growth of Industrial Yarn Products for V-Belts & Industrial Hoses market.

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Industrial Yarn Products for V-Belts & Industrial Hoses Market Structure

The global Industrial Yarn Products for V-Belts & Industrial Hoses market is a highly fragmented market. The presence of numerous domestic as well as global market leaders in the Industrial Yarn Products for V-Belts & Industrial Hoses market has led to the creation of a very competitive environment for the manufacturers. The tier-I players account for approximately 25%-35% of the Industrial Yarn Products for V-Belts & Industrial Hoses market, while the remaining players account for 65%-75% of the total market share. Few of the key global market leaders in the Industrial Yarn Products for V-Belts & Industrial Hoses market are Toray Group, SRF Limited, Teijin Frontier Co., Ltd, Cordenka GmbH & Co. KG, Glanzstoff, Kordsa Industries, R.D. Abbott Company, Inc., Olbo & Mehler Inc. and OC Oerlikon Management AG., among others.

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