Market Overview:
The global tire reinforcement 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 tires from the automotive industry and rising awareness about safety features in tires. The global tire reinforcement market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into steel, polyester, rayon, nylon, and others. Polyester dominates the global tire reinforcement market due to its properties such as high strength-to-weight ratio and resistance against abrasion and chemicals. On the basis of application,the market is divided into tire cord fabricandtire bead wire.
Product Definition:
Tire reinforcement is a material or structure used to increase the strength of a tire. Tire reinforcement can be made from metal wires, fabrics, or plastics. It is used to improve the durability and resistance to wear of tires.
Steel:
Steel is one of the important materials used in the manufacturing of tires. It is a metal that has high malleability and can be easily molded into various shapes. Steel reinforcement provides additional strength to a tire, which helps it to carry more load without failure or breakage. The addition of steel also reduces rolling resistance, which results in lower fuel consumption and reduced emissions from vehicles.
The global market for steel reinforcement was estimated at USD 3,486 million in 2016.
Polyester:
Polyester is a synthetic fiber that is used in the manufacturing of various products such as films, fibers, tapes, and spandex. It offers several beneficial properties such as high strength and abrasion resistance which makes it suitable for use in tire reinforcement.
The global polyester market size was estimated at USD 22.91 billion in 2015.
Application Insights:
Tire cord fabric application dominated the global market in terms of revenue share in 2017. This is attributed to its rising use for manufacturing a variety of products including automobile parts, textile and clothing, home furnishing items, etc. Tire cord fabric reinforcement provides high tensile strength and excellent resistance to abrasion & cutting which makes it suitable for various applications including automotive body panels and interior trim components.
The tire bead wire segment is expected to witness the fastest growth over the forecast period owing to its increasing use in manufacturing tires for several vehicles on roads around the world. The growing popularity of tubeless tires due to their ease of installation along with low air loss properties are also likely drive demand globally over the forecast period. Increasing demand from end-users coupled with strong production capacities across key economies such as China India Japan South Korea Taiwan Thailand Malaysia Indonesia Philippines Brazil Argentina Mexico Venezuela Colombia etc.
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 rapid industrialization and increasing automotive production, especially in China, India, Japan and South Korea. In addition, rising disposable income levels are anticipated to fuel product demand further.
The growing population coupled with increased consumer spending on automobiles is projected to drive tire production across Asia Pacific thereby driving the market for tire reinforcement materials as well as manufacturing methods used across various applications such as passenger cars and commercial vehicles including buses and trucks.
Europe was estimated at USD X million in 2017 owing to high demand from major application sectors such as passenger cars tires along with an increase in R&D activities by key players for development of new products that meet evolving industry standards & requirements are expected boost growth prospects over the coming years.
Growth Factors:
- Increasing demand for lightweight and fuel-efficient vehicles
- Rising disposable income of consumers in developing countries
- Stringent emission norms by regulatory authorities across the globe
- Proliferation of electric and hybrid vehicles
- Growing popularity of radial tires
Scope Of The Report
Report Attributes
Report Details
Report Title
Tire Reinforcement Market Research Report
By Type
Steel, Polyester, Rayon, Nylon
By Application
Tire Cord Fabric, Tire Bead Wire
By Companies
Bekaert, Kolon Industries, Toray Industries, Milliken & Company, CORDENKA, Tokusen Kogyo
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
202
Number of Tables & Figures
142
Customization Available
Yes, the report can be customized as per your need.
Global Tire Reinforcement Market Report Segments:
The global Tire Reinforcement market is segmented on the basis of:
Types
Steel, Polyester, Rayon, Nylon
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
Tire Cord Fabric, Tire Bead Wire
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
- Kolon Industries
- Toray Industries
- Milliken & Company
- CORDENKA
- Tokusen Kogyo
Highlights of The Tire Reinforcement 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
- Polyester
- Rayon
- Nylon
- By Application:
- Tire Cord Fabric
- Tire Bead Wire
- 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 Reinforcement 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 reinforcement is a system of reinforcing fibers embedded in the rubber of a tire. The reinforcement helps to prevent punctures and tears in the tire, which can lead to decreased fuel efficiency and increased wear on the vehicle's suspension.
Some of the major companies in the tire reinforcement market are Bekaert, Kolon Industries, Toray Industries, Milliken & Company, CORDENKA, Tokusen Kogyo.
The tire reinforcement 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 Reinforcement 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 Reinforcement Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Tire Reinforcement 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 Reinforcement 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 Reinforcement Market Size & Forecast, 2020-2028
4.5.1 Tire Reinforcement Market Size and Y-o-Y Growth
4.5.2 Tire Reinforcement 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
5.2.2 Polyester
5.2.3 Rayon
5.2.4 Nylon
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 Tire Cord Fabric
6.2.2 Tire Bead Wire
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Tire Reinforcement 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 Reinforcement 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
9.6.2 Polyester
9.6.3 Rayon
9.6.4 Nylon
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 Tire Cord Fabric
9.10.2 Tire Bead Wire
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
10.6.2 Polyester
10.6.3 Rayon
10.6.4 Nylon
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 Tire Cord Fabric
10.10.2 Tire Bead Wire
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
11.6.2 Polyester
11.6.3 Rayon
11.6.4 Nylon
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 Tire Cord Fabric
11.10.2 Tire Bead Wire
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
12.6.2 Polyester
12.6.3 Rayon
12.6.4 Nylon
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 Tire Cord Fabric
12.10.2 Tire Bead Wire
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
13.6.2 Polyester
13.6.3 Rayon
13.6.4 Nylon
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 Tire Cord Fabric
13.10.2 Tire Bead Wire
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 Reinforcement Market: Competitive Dashboard
14.2 Global Tire Reinforcement Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Bekaert
14.3.2 Kolon Industries
14.3.3 Toray Industries
14.3.4 Milliken & Company
14.3.5 CORDENKA
14.3.6 Tokusen Kogyo
