Tire Cord Market: Company Profiles, Segments, and Recent Trends Forecast by 2031 | Indorama Ventures, SRF Limited, Kolon Industries Inc.

Tire Cord Market Research Report By DataM Intelligence: A comprehensive analysis of current and emerging trends provides clarity on the dynamics of the Tire Cord market. The report employs Porter's Five Forces model to assess key factors such as the influence of suppliers and customers, risks posed by different entities, competitive intensity, and the potential of emerging entrepreneurs, offering valuable insights. Additionally, the report presents research data from various companies, including their benefits, gross margins, and strategic decisions in the global market, all conveyed through tables, charts, and infographics.

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What is the projected growth rate (CAGR) of the Global Tire Cord market from 2024 to 2031?

Tire Cord Market is estimated to reach at a CAGR of 17.6% during the forecast period 2024-2031.

What is Tire Cord Market?

The tire cord market focuses on the production and distribution of reinforcing materials, primarily made from steel, polyester, nylon, and aramid, used in the manufacturing of tires for vehicles. These cords enhance tire strength, durability, and performance, contributing to vehicle safety and efficiency. Market growth is driven by the increasing demand for vehicles, particularly in emerging markets, as well as the rising focus on fuel-efficient and high-performance tires. Additionally, advancements in tire manufacturing technologies and the growing trend towards electric vehicles, which require specialized tire designs, further contribute to the expansion of the tire cord market. The emphasis on sustainability is also influencing the development of eco-friendly tire cord materials, adding to market dynamics.

Growth Driver

Increasing Demand for Eco-Friendly Manufacturing Boosts Tire Cord Market Share

The rising emphasis on eco-friendly manufacturing is significantly enhancing the global tire cord market. Sustainable manufacturing technologies offer manufacturers substantial financial, environmental, and quality advantages. As a result, major companies like Continental, Kordsa, and Teijin are actively implementing various sustainable practices to produce eco-friendly tires. This commitment not only supports sustainability and environmental initiatives but also ensures compliance with regulatory standards, further propelling the growth of the tire cord market.

Key Players:

Profiles of some of the major players in the global Tire Cord market, which include Indorama Ventures, SRF Limited, Kolon Industries Inc, Tire Cord USA, TEIJIN LIMITED, HYOSUNG, Kordsa Teknik Tekstil A.S., Toray Hybrid Cord, Inc, Century Enka Limited, Firestone Fibers & Textile Company, among others.

Industry Development:

On September 28, 2022, Kolon Industries Inc. announced the completion of the expansion of its tire cord production plant in Binh Duong Province, Vietnam. The company aims to accelerate operations to enhance its global competitiveness in the market.

The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global Tire Cord market.

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Market Segments:

The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviours.

By Material: Polyester, Nylon, Rayon, Aramid, Polyethylene terephthalate, Steel, Hybrid.

By Process: Fiber, Yarn Twisting, Weaving, Dipping.

By Tire: Radial, Biased.

By Application: Light Commercial Vehicles, Passenger Cars, Heavy-Duty Vehicles, Others.

Regional Break out:

☞ North America - US, Canada, Mexico

☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe

☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific

☞ South America- Brazil, Argentina, Colombia, Rest of South America

☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel

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Key Features:

➧ Gain deep insights into market dynamics, trends, and opportunities to stay ahead in a competitive landscape.

➧ Track competitor's movements in real time, allowing you to swiftly adapt strategies and remain competitive.

➧ Compare your performance with industry leaders to identify gaps, strengths, and areas for improvement.

➧ Stay updated with emerging market trends, technological advancements, and customer behaviour to refine your strategy.

➧ Receive actionable insights and recommendations to drive your business toward growth and long-term success.

➧ Tailor competitive intelligence to your unique business needs, ensuring relevant and focused analysis.

➧ Evaluate supply chain efficiency and logistics strategies to optimize operations and minimize disruptions.

➧ Understand key players, stakeholders, and partnerships to navigate the competitive landscape more effectively.

➧ Identify and target specific market segments with detailed intelligence on customer preferences and behaviours.

➧ Stay informed on regulatory changes and legal requirements impacting your industry to ensure compliance and mitigate risks.

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