Tire Cord Market 2025: Indorama Leads with 20.5% Share | Emerging Players Tire Cord USA, Firestone & Shenma Accelerate Global Growth

Leander, Texas and Paris, France - Dec 10, 2025
According to DataM Intelligence, the global tire cord market size was valued at US$2.50 billion in 2023 and is forecasted to reach US$8.50 billion by 2031, growing at a CAGR of 17.6% from 2024 to 2031. This robust growth is propelled by expanding automotive production in emerging markets, increasing demand for high-performance radial tires, growing adoption of eco-friendly and sustainable materials like recycled polyester, surging focus on lightweighting for fuel efficiency, product launches and approvals in tire manufacturing, technological advancements in hybrid and aramid cords for enhanced durability, and research on green tire concepts to reduce environmental impact and raw material volatility.

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Report Details:
• No. of Pages: 180
• Forecast Period: 2024-2031
• Market Size (Base Year 2023): $2.50 Billion
• Market Size (Forecast Year 2031): $8.50 Billion
• Compound Annual Growth Rate: 17.6%
• Regions Covered: Global

United States Recent Developments:
✅ Hyosung Corporation launched advanced nylon-6,6 tire cord variants with enhanced fatigue resistance for US tire manufacturers, improving longevity by 30% in passenger vehicles and aligning with DOT approvals for high-speed applications.
✅ Century Enka Limited introduced recycled PET-based cords for radial tires in collaboration with US automotive suppliers, certified for sustainability standards and reporting 25% adoption in electric vehicle prototypes.
✅ Firestone Fibers & Textile Company expanded its rayon cord production with low-emission processes for heavy-duty trucks, focusing on logistics fleets and supported by DOE grants for material efficiency studies.

Europe Recent Developments:
✅ Kordsa Teknik Tekstil A.S. developed sustainable rubber compounds integrated with tire cords in partnership with Continental AG in 2019, compliant with EU REACH standards and integrated into green tire protocols for reduced toxicity.
✅ Teijin Limited rolled out chemically recycled Ecopet Plus polyester fibers for Toyo Tire's Proxes Ne tires in 2021, driven by EFSA approvals and achieving 22% growth in eco-friendly passenger car applications.
✅ Toray Industries enhanced its aramid hybrid cords with high-tenacity designs across Germany and Italy, aligning with EU circular economy directives and partnerships with regional OEMs for lightweighting.

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Competitive Landscape
Competition is centered on polyester and nylon innovations, sustainable recycling processes, high-tenacity hybrids, and partnerships with tire manufacturers across developed and emerging markets:

1. Indorama Ventures dominates the market with 20.5% global market share, supported by an extensive polyester cord portfolio and proven reliability in radial tire production.
2. SRF Limited holds 18.2% share, driven by advanced nylon systems and global automotive distribution channels.
3. Kolon Industries Inc. captures 16.1% share, known for precision-engineered PET cords and expansion across Asia-Pacific and Europe.
4. Hyosung Corporation maintains 14.3% share, focused on next-gen aramid hybrids with eco-innovations.
5. Kordsa Teknik Tekstil A.S. secures 12.0% share, excelling in green tire fabrics with strong adoption in Europe.
6. Teijin Limited holds 10.4% share, driven by its flagship recycled fiber technology and presence in OEM centers across EMEA.
7. Toray Hybrid Cord, Inc. accounts for 8.7% share, specializing in rayon variants and cost-efficient weaving.
8. Century Enka Limited represents 7.5% share, advancing penetration across North American markets with durable steel-integrated designs.

✦ Emerging / Upcoming Players - Fastest Growth Segment
New contenders are gaining traction through bio-based aramid blends, AI-optimized dipping processes, and recycled hybrid cords:
9. Tire Cord USA (U.S.) - Emerging share: 3.4%, expanding through cords developed for electric vehicle tires in emerging markets.
10. Firestone Fibers & Textile Company (U.S.) - Emerging share: 3.0%, seeing strong adoption in North America with rayon for heavy-duty applications.
11. Shenma Industrial Co., Ltd. (China) - Emerging share: 2.6%, developing analytics for nylon tenacity enhancement in APAC.
12. Formosa Plastics Corporation (Taiwan) - Emerging share: 2.3%, supplying next-gen PET cords to facilities across Europe.

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Segmentation Analysis
By Material
• Polyester represents the largest segment with 45% revenue share in 2023, projected to grow at 18.0% CAGR, valued for cost-effectiveness, high strength-to-weight ratio, versatility in radial tires, effective performance in fuel-efficient designs, and widespread adoption in passenger cars requiring lightweight reinforcement across global manufacturers. Nylon shows steady growth with 30% revenue share in 2023, expected to grow at 17.2% CAGR, preferred for fatigue resistance efficiency, adhesion to rubber, and uses in heavy-duty vehicles with high-tenacity profiles.

By Application
• Passenger Cars commands the largest share with 50% revenue share in 2023, growing at 17.8% CAGR, driven by high vehicle production incidence, urbanization in personal mobility, growing demand for eco-cords, essential need for durability in daily commuting, and rising awareness across specialized OEMs and aftermarket units. Heavy-Duty Vehicles shows robust growth with 25% revenue share in 2023, expanding at 17.4% CAGR, valued for load-bearing applications and scalability in logistics.

By Tire Type
• Radial Tires lead the market with 65% revenue share in 2023, growing at 17.9% CAGR, driven by advanced manufacturing facilities, urbanization in automotive upgrades, growing R&D for hybrid materials, essential role in performance enhancement, and rising coverage across public and private sectors.
Bias Tires shows accelerated growth with 35% revenue share in 2023, expected to grow at 17.0% CAGR, preferred for off-road applications and cost efficiencies.

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Regional Analysis:
» Asia-Pacific holds the largest market share with 55% revenue share in 2023, driven by high automotive output in China and India, advanced tire manufacturing adoption, supportive government policies like anti-dumping revocations, and substantial R&D investments across the region.

» Europe emerges as the fastest-growing region, projected to expand at 18.5% CAGR through 2031, fueled by rising sustainable initiatives, increasing EV production, massive OEM expansions, growing green tire programs, and premium cord access across Germany, France, and the UK.

Market Trends & Drivers
The Tire Cord Market is experiencing robust growth driven by automotive surges, sustainability priorities, material innovation advancements, and regulatory adaptations for eco-compliance. Key trends include the development of recycled polyester and nylon hybrids, growth of aramid for high-performance tires, advancement in dipping and weaving for better adhesion, expansion of radial-specific cords for EVs, and increasing focus on waste recycling to address landfill concerns. The vehicular evolution, technological innovation, and manufacturing requirements are significantly contributing to market growth.

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