Steel Cords Market is driven by APAC more than U.S. & Europe, Report by 2024
With rising demand from the automotive industry and growing safety concerns, the global steel cords market is witnessing robust growth. Newer and developing technologies in the automotive industry are on the lookout for attention from the industry leaders. Their aim is to offer comfortable driving and experience of safety to their customers.
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1. Steel cords market size & share forecast by product & application
2. Growth drivers, pitfalls & industry challenges
3. Key steel cords market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles
The automotive tire industry is growing at a considerable pace for the past few years in terms of revenue as well as volume due to the rise in demand for OEM as well as replacement tires. These factors drive the global steel cords market strongly.
On the basis of product, the steel cords market can be segmented as brass coated and zinc coated cords. Brass alloy is most commonly used for coatings as it acts as a reinforcement material. The advantage in using zinc is that increase in the thickness of zinc coating leads to increase in corrosion resistance.
Based on the application, the steel cords market can be bifurcated into aircraft tires, heavy equipment tires, cargo truck tires, light truck tires, car tires, conveyer belts and other rubber framework materials. The product use in tires permits high resistance, durability, higher rubber penetration and adhesion.
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The steel cords market in Asia Pacific is likely to witness growth owing to the growing tire industry. Changing life style and increasing disposable income of people in Asia is driving the demand for luxury goods like cars, which in turn is leading to the demand for tires. This fast increasing tires demand is driving the steel cords market in this region. The tire industry in the U.S. and Europe is likely to register a slower growth rate owing to the stagnation phase. Latin America and Middle East are also set to witness an increase in steel cords market demand.
Primary players operating in the global steel cords market include Kordsa Global, Hyosung, DuPont, Bekaert, San Wu Rubber Mfg. Co. Ltd., Usha Martin, NRC., Desh Wire Products Private Limited, TOKUSEN KOGYO Co., Somi Conveyer Beltings Ltd., Forech, Apollo Conveyor Pvt. Ltd., OPiIT UM, Tyrepress and Xingda International Holdings to name some.
1. Methodology and Scope
2. Executive Summary
3. Steel cords Industry Insights
3.1 Industry segmentation
3.2. Industry size, forecast and growth expectations, 2012 - 2023
3.3. Industry ecosystem analysis
3.4. Raw material insights
3.5. Technology insights
3.6. Regulatory framework
3.7. Industry dynamics
3.8. Key growth opportunities
3.9. Porter's analysis
3.10. Company market share, 2015
3.11. PESTEL analysis
3.14. Regional price trends
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Tire Cord and Tire Fabrics Market size worth $6.4bn by 2024.
4. Steel cords Market Product Insights
5. Steel cords Market Application Insights
6. Steel cords Market Regional Insights
7. Competitor Profiles
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