Key Factor Supporting Tire Cord Fabrics Market Development in 2025: Surge In Automobile Production Fuels Expansion Of The Tire Cord Fabrics Market

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What Will the Tire Cord Fabrics Industry Market Size Be by 2025?
The market scale for tire cord fabrics has seen robust growth in the past few years. It is projected to expand from $6.07 billion in 2024 to $6.41 billion in 2025, with a compound annual growth rate (CAGR) of 5.7%. Factors such as expansion in the automotive industry, increase in vehicle production, demand for replacement tires, enhancement in tire performance, and technological advancements in tire manufacturing contribute to the growth experienced in the historic period.

What's the Long-Term Growth Forecast for the Tire Cord Fabrics Market Size Through 2029?
It is anticipated that the tire cord fabrics market will experience robust growth in the upcoming years, reaching $8.02 billion by 2029 with a 5.8% compound annual growth rate (CAGR). This expansion during the forecast period can be attributed to factors such as the ongoing growth of the automotive industry, the emergence of green tire trends, the EV market, increased demand for specialty tires, the global spread of tire manufacturing, and more stringent regulations. Major trends to look out for within this forecast period include a heightened focus on sustainability, worldwide infrastructure development, resilience in the face of economic shifts, strategic alliances and partnerships, and investments in research and development to improve performance.

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What Are the Key Growth Drivers Fueling the Tire Cord Fabrics Market Expansion?
The tire cord fabrics market is being significantly influenced by the uptick in automobile production. These fabrics, which are useful in maintaining the shape of tires and extending their lifespan, find great applicability in the automobile sector. For example, the global production of motor vehicles registered at 85.4 million in 2022, up 5.7% from the previous year, as per data from the European Automobile Manufacturers Association, a primary automobile industry lobbying and standards organization in Europe, in May 2023. Thus, the projected escalation in automobile production is anticipated to stimulate the tire cord fabrics market in forthcoming years.

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What Are the Key Trends Driving Tire Cord Fabrics Market Growth?
An emergent trend in the tire cord fabric market is the increased concentration on creating eco-friendly tires. Major entities in this market are striving to invent sustainable tire cord fabrics for these green tires through strategic partnerships and creative product launches. As an example, in September 2023, Formosa Taffeta Co., Ltd., a firm based in Taiwan that manufactures tire cord fabrics, introduced Etycord to the market. This green tire cord material, produced by Seawastex, is manufactured from 100% repurposed discarded fishing nets which have undergone transformation into nylon via the FCFC chemical recycling method, notably the polyamide-6 (PA6) depolymerization process. This results in the creation of Seawastex, a nylon fiber recycled from the ocean. The material is then used by Formosa Taffeta to construct Etycord, presenting a more environmentally friendly alternative for the cycling industry in the production of bicycle tires. In collaboration with local governments and fishing communities, Formosa collects discarded fishing nets to repurpose into recycled nylon, negating the requirement for international shipping during the raw material collection and recycling phases. Consequently, Seawastex boasts an incredible 49% reduction in carbon impact when compared to conventional nylon production.

How Is the Tire Cord Fabrics Market Segmented?
The tire cord fabrics market covered in this report is segmented -

1) By Material: Nylon, Polyester, Rayon, Other Materials
2) By Vehicle Type: HCV, LCV, Passenger Cars, Off-Road Vehicles And Two-Wheelers
3) By Tire Type: Radial, Bias
4) By Application: Automotive, Aircrafts, Industrial Products, Other Applications

Subsegments:
1) By Nylon: Nylon 6, Nylon 66
2) By Polyester: PET (Polyethylene Terephthalate), PBT (Polybutylene Terephthalate)
3) By Rayon: High-Strength Rayon, Standard Rayon
4) By Other Materials: Steel, Aramid, Polypropylene

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Which Companies Are Leading the Charge in Tire Cord Fabrics Market Innovation?
Major companies operating in the tire cord fabrics market include Showa Denko K.K., Bridgestone Corporation, Asahi Kasei Corporation, Indorama Ventures Company Limited, Toray Industries Inc., Hyosung Corporation, Teijin Ltd., Bekaert Corporation, Kolon Industries Inc., Milliken & Company, Far Eastern Group, Kordsa Teknik Tekstil Company, SRF Ltd., Shenma Industrial Co Ltd., Formosa Taffeta Co Ltd., Henan Hengxing Science & Technology Co, Tokusen, Kusumgar Corporates, Cordenka GmbH & Co KG, Colmant Coated Fabrics, Century Enka Limited, Glanzstoff Textilcord, Hanoi Industrial Textile Jsc, Kordarna Plus A.S.

Which Regions Are Leading the Global Tire Cord Fabrics Market in Revenue?
Asia-Pacific was the largest region in the tire cord fabrics market in 2024 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the tire cord fabrics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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