Tire Cord & Tire Fabrics Market Size to Surpass US$ 9 billion by 2032 | Persistence Market Research
Market Study on Tire Cord & Tire Fabrics Market: Manufacturers Keep up with the Innovation to Create Opportunities
The global tire cord & tire fabrics market was estimated at US$ 4.9 Billion in 2021. The global tire cord & tire fabrics market is expected to garner 𝐔𝐒$ 𝟗 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟐. The global tire cord & tire fabrics market likely 𝐠𝐫𝐨𝐰 𝐚𝐭 𝐚 𝐫𝐚𝐭𝐞 𝐨𝐟 𝟔.𝟑% 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝟐𝟎𝟑𝟐. The growth in the market is attributed to the increasing demand for vehicles, rising urbanization, and the growth of the automotive industry.
Asia Pacific is projected to be the best performing regional tire cord & tire fabrics market. The passenger car segment contributes for more than 65% of the market share.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭@https://www.persistencemarketresearch.com/samples/33215
The tire cord and tire fabrics market is influenced by several trends, drivers, and challenges. Some of the key trends in the market include the increasing adoption of high-performance tires, the development of eco-friendly tires, and the use of advanced materials in tire production.
The key drivers of the tire cord and tire fabrics market include the growth of the automotive industry, the increasing demand for vehicles, and the need for fuel-efficient and low-emission vehicles. However, the market is also faced with several challenges such as the volatility of raw material prices and the stringent government regulations related to tire production.
• Kemrock Industries and Exports Limited
• Kordsa Global, Inc.
• BASF SE
• Arkema S.A
• SGL Carbon SE
• Solvay S.A.
• Kolon Industries, Inc.
• Mitsubishi Rayon Co. Ltd
• Hyosung Corporation
• Toray Industries Inc.
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The tire cord and tire fabrics market can be segmented based on material type, product type, application, and region.
Based on material type, the market can be classified into nylon, polyester, rayon, and others.
Based on product type, the market can be divided into tire cord, chafer fabric, and others.
Based on application, the market can be segmented into passenger cars, commercial vehicles, and others.
The tire cord and tire fabrics market can be analyzed based on the following regions: North America, Europe, Asia-Pacific, and Rest of the World (RoW). The Asia-Pacific region is expected to dominate the market during the forecast period due to the growth of the automotive industry and the increasing demand for vehicles in countries such as China and India.
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In conclusion, the tire cord and tire fabrics market is expected to grow at a steady rate in the coming years due to the increasing demand for vehicles and the growth of the automotive industry. However, the market is also faced with several challenges such as the volatility of raw material prices and the stringent government regulations related to tire production. The key players in the market are focusing on product innovation, expansion, and acquisition strategies to strengthen their market position.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐲𝐨𝐮 𝐭𝐨 𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞-
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