Tire Cord Fabrics Market : Industry Development Scenario and Forecast

SDKI Inc. published a new report on the tire cord fabric market. This study includes the statistical and analytical approaches needed to grow the tire cord fabric market. The key industry insights provided in the report provide readers with better ideas about market overviews regarding existing market scenarios. In addition, the report contains a detailed discussion of current and future market trends related to market growth.

Report sample URL
https://www.sdki.jp/sample-request-113995

The tire cord fabric market is expected to grow at a CAGR of 5% or higher during the forecast period. Tire cord fabric is a type of industrial fabric composed of high-strength yarn in the warp direction and low resistance yarn in the warp direction, and is used to fix the warp. The tire cord coated fabric provides the basic properties of tires used in the automotive industry, including controlled deformation, high strength and wear resistance.

Increasing demand for automotive tire cord fabrics is a major driver of market growth. Increasing demand for vehicles around the world, especially small cars, has increased global vehicle production over the past few years. In addition, vehicle parks are increasing as vehicle sales increase. These factors indirectly drive the growth of the global tire cord fabric market. In addition, the growing demand for eco-friendly tires from automobiles is projected to provide various opportunities for market growth during the forecast period. In addition, increasing demand for passenger cars and durable fuel-efficient tires in developing countries is expected to drive product demand during the forecast period. However, fluctuations in raw material prices and the disadvantages of the outbreak of the new coronavirus infection (COVID-19) can hinder market growth.

Market segment

Tire code fabric market is by fiber (nylon, bisco rayon, polyester, aramid, glass, PVA), by tire type (diagonal tire, semi-radial tire, radial tire), by application (automobile, aircraft, industrial products). , Others) and by region. These segments are further subsegmented based on various factors and consist of some additional information about the market, such as the combined annual growth rate of each segment and subsegment, the market value and volume of the valuation period.

Based on usage, the automotive segment is expected to dominate the market during the forecast period. Tire cord fabric is used as a tire reinforcement and is designed to maintain the shape of the tire and support the weight of the vehicle, which has a significant impact on the performance of the tire. Improvements in road infrastructure and rising disposable income for middle-class consumers are driving the growth of the automotive segment in developing countries.

Regional Overview

Asia Pacific region is expected to dominate the tire code fabric market during the forecast period. Increasing demand for tire cord fabrics from automobiles and expanding applications in the industrial sector of countries such as China, Japan and India are expected to drive demand for tire cord fabrics in the region. The largest producers of tire cord fabrics are in the Asia Pacific region. Leading companies in the manufacture of tire cord fabrics include Kolon Industries, Inc, Bekaert, SRF Limited, Indorama Ventures Public Company Limited and HYOSUNG ADVANCED MATERIALS. In addition, the growth of e-commerce, construction and mining continues to increase the demand for commercial vehicles. Overall India's domestic vehicle sales also increased by 6.71% CAGR between 2013 and 2019, with 26.27 million vehicles sold in 2019.

These regional segments are North America (US and Canada); Asia Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, and other Asia Pacific); Latin America (Brazil, Mexico, Argentina, and other Latin). USA); Middle East and Africa (Israel, GCC [Saudi Arabia, Arab Emirates, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, and other Middle East and Africa) and Europe (UK, Germany, France, Italy, Spain) , Hungary, Belgium, Netherlands, Luxemburg, NORDIC, Poland, Turkey, Russia and other Europe) and more.

Key Players on the Market

Key players on the tire cord fabric market include Kolon Industries Inc, Bekaert, SRF Limited, Indorama Ventures Public Company Limited and HYOSUNG ADVANCED MATERIALS. This survey includes a detailed competitive analysis of these major companies in the tire code fabric market, corporate profiles, recent developments, and key market strategies.

Detailed contents of the survey report
https://www.sdki.jp/reports/tire-cord-fabrics-market/113995

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This release was published on openPR.