Press release
Global Tire Cord Fabrics Market Trends, Business Overview, Industry Growth and Forecast to 2022-2028
The global tire cord fabrics market is anticipated to grow at a CAGR of 6.0% during the forecast period (2022-2028). Tire cord fabric is a type of industrial fabric that is constructed using high tenacity yarns. A tire cord coated fabric provides fundamental properties for tires used in the automotive industry such as controlled deformation, high strength, abrasion resistance, and so on. These are some driving factors for the growth of the global tire cord fabrics market. Additionally, improvement in road infrastructure and rising disposable income are further driving the growth of the market. The increasing focus on reducing the pollution and rising demand for economic fuel-efficient cars are some boosting factors for the growth of the market in the future.The market is segmented based on the fiber type, tire type, and application. Based on the fiber type, the market is sub-segmented into nylon, viscose rayon, polyester, aramid, glass, and PVA. Nylon fiber is used to make the tire plies in passenger tires. They serve as the primary reinforcing material in the tire casing and supports the tire to keep its shape in different road conditions which provides extra benefit and performance to the tire. Viscose rayon fiber ere used only for truck tires. The rayon cord tire had improved the performance. This fiber tire was used more in trucks than for passenger car tires. The polyester fiber in tires is used as it is particularly suitable for tires, due to its breakage resistance, toughness, and thermal stability.
Some major players in the market include Indorama Ventures Co. Ltd., Kolon Industries Inc., and Hyosung Corp., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in April 2021, Michelin announced that they are first to have produced and tested recycled technical fibers for tires. Additionally, in March 2022, the Government of Canada under the Incentives for the Zero-Emission Vehicles (ZEV) Program offers rebates up to $5,000 on the purchase of designated electric vehicle models.
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Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Fiber Type
o By Tire Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Indorama Ventures Co. Ltd., Kolon Industries Inc., and Hyosung Corp., among others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
A full report of Global Tire Cord Fabrics Market is available at:
https://orionmarketreports.com/global-tire-cord-fabrics-market/101257/
Global Tire Cord Fabrics Market Report by Segment
By Fibber Type
• Nylon
• Viscose Rayon
• Polyester
• Aramid
• Glass
• PVA
By Tire Type
• Diagonal Tire
• Semi Radial Tire
• Radial Tire
By Application
• Automotive
• Aircraft
• Industrial Products
• Others
Global Tire Cord Fabrics Market Report by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
Company name: Orion Market Reports
Contact person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
About us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
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