Market Overview:
The global tire cord market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for passenger cars and commercial vehicles, and the growing trend of lightweighting vehicles. Steel tire cord is expected to dominate the market during the forecast period, owing to its high strength-to-weight ratio and durability. Polyester tire cord is projected to be the fastest-growing segment during the forecast period, due to its low weight and high strength properties. North America accounted for majority of the share in 2017, followed by Europe and Asia Pacific.
Product Definition:
A cord is a unit of measurement, typically for rope or cable. A tire cord is a type of rope or cable used in the manufacturing of tires. Tire cords are usually made from high-quality synthetic fibers, such as nylon or polyester. They are often braided together to form a strong, durable rope.
Steel Tire Cord:
Steel tire cord is a steel wire, which is wound around the tire and attached to the rim. The steel tire cord acts as an excellent reinforcement for tires and provides it with additional strength. As compared to nylon or polyester cords, steel ones are thicker hence providing more support to the tires. Also, they do not break easily when caught by obstacles hence increasing its life span in comparison with other counterparts.
Polyester Tire Cord:
Polyester tire cord is a synthetic rubber compound, which is manufactured from chemicals that are derived from crude oil. Polyester resin or polyethylene terephthalate is the main raw material used in the manufacturing of polyester tire cords. The other raw materials include ethylene glycol, antimony trioxide and bisphenol A as processing aids.
Application Insights:
Commercial vehicles segment held the largest share of over 70.0% in 2017. The growth can be attributed to the increasing demand for commercial vehicles, such as trucks, vans and buses, in developing countries including India and China. In addition, growing emphasis on fuel efficiency by manufacturers is likely to result in increased utilization of nylon tire cords over the forecast period.
Passenger car tires are expected to witness significant growth owing to rising disposable income among consumers coupled with an increase in per capita ownership rate of passenger cars across various regions including Europe and Asia Pacific since past few years. This trend is projected to continue over the forecast period thus driving market growth for passenger car tires at a CAGR of XX% from 2018 to 2030 globally.
Regional Analysis:
Asia Pacific dominated the global market in terms of revenue with a share of over 40.0% in 2017. The region is expected to witness significant growth over the forecast period owing to increasing automotive production and sales, coupled with rising investments by international manufacturers for manufacturing vehicles on a large scale.
The growing demand for passenger cars and commercial vehicles is also anticipated to drive regional product demand over the forecast period. In addition, favorable government regulations aimed at promoting new investments are likely to contribute toward increased vehicle production, thereby driving tire cord consumption as well.
Europe accounted for more than 20% share of global revenue in 2017 owing to high demand from several major markets including Germany, France and U-K.
Growth Factors:
- Increasing demand for lightweight and fuel-efficient vehicles
- Rising disposable income of consumers in developing countries
- Stringent government regulations on vehicle emissions
- Technological advancements in tire cord manufacturing process
- Growing popularity of electric vehicles
Scope Of The Report
Report Attributes
Report Details
Report Title
Tire Cord Market Research Report
By Type
Steel Tire Cord, Polyester Tire Cord, Nylon Tire Cord
By Application
Passenger Car, Commercial Vehicle
By Companies
Bekaert, Century Enka, CORDENKA, FORMOSA TAFFETA, Hyosung, Indorama Ventures Public, Kolon Industries, SRF, Teijin, Xingda International, Bekaert
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
245
Number of Tables & Figures
172
Customization Available
Yes, the report can be customized as per your need.
Global Tire Cord Market Report Segments:
The global Tire Cord market is segmented on the basis of:
Types
Steel Tire Cord, Polyester Tire Cord, Nylon Tire Cord
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Car, Commercial Vehicle
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Bekaert
- Century Enka
- CORDENKA
- FORMOSA TAFFETA
- Hyosung
- Indorama Ventures Public
- Kolon Industries
- SRF
- Teijin
- Xingda International
- Bekaert
Highlights of The Tire Cord Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Steel Tire Cord
- Polyester Tire Cord
- Nylon Tire Cord
- By Application:
- Passenger Car
- Commercial Vehicle
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Tire Cord Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Tire cord is a thin, flexible cord that is used to secure tires and wheel rims. Tire cords are typically made of nylon or polyester and have a diameter of about 1 inch. They are often wrapped around the tire and rim several times to create a tight fit.
Some of the major companies in the tire cord market are Bekaert, Century Enka, CORDENKA, FORMOSA TAFFETA, Hyosung, Indorama Ventures Public, Kolon Industries, SRF, Teijin, Xingda International, Bekaert.
The tire cord market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Tire Cord Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Tire Cord Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Tire Cord Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Tire Cord Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Tire Cord Market Size & Forecast, 2020-2028
4.5.1 Tire Cord Market Size and Y-o-Y Growth
4.5.2 Tire Cord Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Steel Tire Cord
5.2.2 Polyester Tire Cord
5.2.3 Nylon Tire Cord
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Passenger Car
6.2.2 Commercial Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Tire Cord Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Tire Cord Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Steel Tire Cord
9.6.2 Polyester Tire Cord
9.6.3 Nylon Tire Cord
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Passenger Car
9.10.2 Commercial Vehicle
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Steel Tire Cord
10.6.2 Polyester Tire Cord
10.6.3 Nylon Tire Cord
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Passenger Car
10.10.2 Commercial Vehicle
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Steel Tire Cord
11.6.2 Polyester Tire Cord
11.6.3 Nylon Tire Cord
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Passenger Car
11.10.2 Commercial Vehicle
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Steel Tire Cord
12.6.2 Polyester Tire Cord
12.6.3 Nylon Tire Cord
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Passenger Car
12.10.2 Commercial Vehicle
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Steel Tire Cord
13.6.2 Polyester Tire Cord
13.6.3 Nylon Tire Cord
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Passenger Car
13.10.2 Commercial Vehicle
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Tire Cord Market: Competitive Dashboard
14.2 Global Tire Cord Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Bekaert
14.3.2 Century Enka
14.3.3 CORDENKA
14.3.4 FORMOSA TAFFETA
14.3.5 Hyosung
14.3.6 Indorama Ventures Public
14.3.7 Kolon Industries
14.3.8 SRF
14.3.9 Teijin
14.3.10 Xingda International
14.3.11 Bekaert
