Press release
Tire Cord Fabrics Market to Reach USD 8.37 Billion by 2028, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm, has launched a report on the global market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.
Request a free sample report: https://www.stratviewresearch.com/1521/tire-cord-fabrics-market.html
Market Statistics
• Market size (2021): USD 5.8 billion
• Forecast value (2028): USD 8.37 billion
• CAGR: 5.3%
• Forecast period: 2022-2028
• Base year: 2021
• Total number of segments: 5 segmentation categories
• Tables & figures: 100+
• Country-Level Market Assessment: 20
Market Segmentation
By Material Type
• Nylon
• Polyester
• Rayon
• Others
By Tire Type
• Radial Tires
• Bias Tires
By Application Type
• OEM
• Replacement
By Vehicle Type
• Passenger Cars
• Commercial Vehicles
By Region
• North America
• Europe
• Asia-Pacific
• Rest of the World
Segment Analysis
In material type, nylon is the dominant segment throughout the forecast period because its superior tensile strength, shock absorption, and wear resistance make it indispensable for reinforcing tires across passenger and heavy-duty vehicles; firms that prioritize nylon-based offerings are positioned to benefit from sustained demand in traditional and evolving vehicle segments.
Within tire type, radial tires retain dominance due to their widespread adoption in modern vehicles, especially passenger cars, bolstered by performance advantages such as improved fuel efficiency and handling, prompting suppliers to align product development with radialization trends in automotive manufacturing.
For application type, the replacement segment leads as the largest share, supported by an expanding global vehicle parc and frequent re-tire requirements over a vehicle's life cycle; this underscores aftermarket distribution and inventory strategies as pivotal for supply-chain stakeholders.
Regional Insights
Asia-Pacific is the fastest-growing region for tire cord fabrics during the forecast period, driven by rising automobile production and consumption in developing economies, notably China, India, and Indonesia, where rapid industrialization and automotive sector expansion create lucrative growth opportunities for manufacturers and investors.
Market Drivers
• Increase in global vehicle production raises demand for tire cord fabrics to support higher tire manufacturing volumes.
• Growth in replacement tire demand due to aging vehicle fleets fuels aftermarket consumption.
• Rising adoption of radial tires enhances the requirement for high-performance cord reinforcements.
• Technological advancements in tire reinforcement materials improve durability and performance, attracting OEM preference.
• Expansion of commercial vehicle markets in developing regions increases utilization of tire cord fabrics.
Competitive Landscape
Top Companies in the Market
• Century Enka Limited
• Cordenka GmbH & Co Kg
• Firestone Fibers & Textile Company
• Hyosung Corporation
• Indorama Ventures Public Company Limited
• Kolon Industries Inc.
• Kordsa Teknik Tekstil A.S.
• SRF Ltd.
• Teijin Ltd.
• Toray Industries Inc.
FAQs
1.What was the tire cord fabrics market size in 2021 and what is it expected to be by 2028?
The market was estimated at USD 5.8 billion in 2021 and is projected to reach USD 8.37 billion by 2028.
2.What market growth rate should industry participants anticipate through 2028?
The tire cord fabrics market is expected to grow at a CAGR of 5.3 % during 2022-2028.
3.Which material type holds the largest share in the tire cord fabrics market?
Nylon is projected to remain the largest material type segment through the forecast period.
4.What drives demand for replacement tire cord fabrics?
Replacement demand is driven by the increasing number of vehicles on the road and the aging of existing vehicle fleets.
5.Which region is growing fastest for tire cord fabrics demand?
Asia-Pacific is estimated to be the fastest-growing market for tire cord fabrics during the forecast period.
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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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