Market Overview:
The global steel tire cord market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for passenger cars and trucks, and the growing trend of off-road vehicles. In terms of type, normal tensile cord is expected to dominate the market during the forecast period, followed by high tensile cord and ultra high tensile cord. In terms of application, passenger car is expected to dominate the market during the forecast period, followed by truck and off-road vehicle. North America dominates the global steel tire cord market with a share of more than 30%, followed by Europe and Asia Pacific.
Product Definition:
A steel tire cord is a type of reinforcing material used in tires. It is made from high-quality steel wire, which is drawn through a series of dies to create the desired size and shape. Steel tire cord helps to improve the strength and durability of tires, making them less likely to break or tear. It also helps to maintain the shape of the tire over time, preventing it from becoming deformed or bulging.
Normal Tensile Cord:
Normal tensile cord is a type of steel tire cord that has been pre-cut to the proper length for installation in tires. It is available in three different forms including, normal untensiled, normal tensiled and fully Tensiled. The fully Tensiled form can be used as a substitute to wired ribbed tires but it comes with certain disadvantages such as heat buildup & stress corrosion which are not applicable with normal tensile cords.
High Tensile Cord:
High tensile cord is a type of steel tire cord that has high elongation and strength. It is used in the manufacturing of tires for heavy trucks, buses, agricultural vehicles & tractors and passenger cars. The use of high tensile cords in tires helps them to have longer life as well as provides better performance on roads.
The global market for High Tensile Cord (HTC) was valued at USD 856 million in 2016.
Application Insights:
Passenger car was the largest application segment in 2017 and is expected to continue its dominance over the forecast period. The growth of this segment can be attributed to increasing automobile production globally. In 2016, World Steel Tire Cord Association (WSTCCA) estimated that around 80% of steel tire cord produced is used for manufacturing passenger cars.
Truck tires are expected to witness significant growth over the forecast period owing to rising demand from construction and mining industries in developing countries including China, India and Brazil. Growing infrastructure spending in these countries has created a huge demand for trucks which are used both on road as well as off road applications with high tensile strength cables.
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 mainly in China, India, Japan, and South Korea. In addition, rising construction activities due to growing urbanization are also anticipated to drive product demand over the forecast period.
The European market was valued at USD X billion in 2017 and is projected to grow at a CAGR of XX% from 2018 to 2030 owing herringbone steel tire cord application segmentation wherein UHTC accounted for more than 50% share across all applications which include passenger cars as well as heavy commercial vehicles such as trucks.
Growth Factors:
- Increasing demand for steel tire cord from the automotive industry as a result of increasing production of passenger cars and commercial vehicles.
- Rising demand for high-performance tires in the developed countries due to growing awareness about safety and environment-friendly features of these tires.
- Growth in the construction sector, especially in developing countries, is expected to drive the demand for steel tire cord over the next few years.
- Increasing use of radial tires in automobiles is also projected to boost the market growth during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Steel Tire Cord Market Research Report
By Type
Normal Tensile Cord, High Tensile Cord, Ultra High Tensile Cord
By Application
Passenger Car, Truck, Off Road Vehicle, Others
By Companies
Bekaert, Sumitomo Electric Industries, Ltd, Xingda International Holdings, Tokusen, Formosa Taffeta Co., Ltd., Kolon Industries, Inc, SRF Ltd, Kordsa Global, Saarstahl
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
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Steel Tire Cord Market Report Segments:
The global Steel Tire Cord market is segmented on the basis of:
Types
Normal Tensile Cord, High Tensile Cord, Ultra High Tensile 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, Truck, Off Road Vehicle, Others
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
- Sumitomo Electric Industries, Ltd
- Xingda International Holdings
- Tokusen
- Formosa Taffeta Co., Ltd.
- Kolon Industries, Inc
- SRF Ltd
- Kordsa Global
- Saarstahl
Highlights of The Steel 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:
- Normal Tensile Cord
- High Tensile Cord
- Ultra High Tensile Cord
- By Application:
- Passenger Car
- Truck
- Off Road Vehicle
- Others
- 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 Steel 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
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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?
Steel tire cord is a type of wire used to secure objects together. It is made from a variety of metals, including steel, and has a diameter that ranges from 0.025 inches to 0.075 inches (0.6 mm to 1.9 mm).
Some of the major players in the steel tire cord market are Bekaert, Sumitomo Electric Industries, Ltd, Xingda International Holdings, Tokusen, Formosa Taffeta Co., Ltd., Kolon Industries, Inc, SRF Ltd, Kordsa Global, Saarstahl.
The steel tire cord market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Steel Tire Cord Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Steel Tire Cord Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Steel Tire Cord Market - Supply Chain
4.5. Global Steel Tire Cord Market Forecast
4.5.1. Steel Tire Cord Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Steel Tire Cord Market Size (000 Units) and Y-o-Y Growth
4.5.3. Steel Tire Cord Market Absolute $ Opportunity
5. Global Steel Tire Cord Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Steel Tire Cord Market Size and Volume Forecast by Type
5.3.1. Normal Tensile Cord
5.3.2. High Tensile Cord
5.3.3. Ultra High Tensile Cord
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Steel Tire Cord Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Steel Tire Cord Market Size and Volume Forecast by Application
6.3.1. Passenger Car
6.3.2. Truck
6.3.3. Off Road Vehicle
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Steel Tire Cord Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Steel Tire Cord Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Steel Tire Cord Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Steel Tire Cord Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Steel Tire Cord Demand Share Forecast, 2019-2026
9. North America Steel Tire Cord Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Steel Tire Cord Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Steel Tire Cord Market Size and Volume Forecast by Application
9.4.1. Passenger Car
9.4.2. Truck
9.4.3. Off Road Vehicle
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Steel Tire Cord Market Size and Volume Forecast by Type
9.7.1. Normal Tensile Cord
9.7.2. High Tensile Cord
9.7.3. Ultra High Tensile Cord
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Steel Tire Cord Demand Share Forecast, 2019-2026
10. Latin America Steel Tire Cord Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Steel Tire Cord Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Steel Tire Cord Market Size and Volume Forecast by Application
10.4.1. Passenger Car
10.4.2. Truck
10.4.3. Off Road Vehicle
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Steel Tire Cord Market Size and Volume Forecast by Type
10.7.1. Normal Tensile Cord
10.7.2. High Tensile Cord
10.7.3. Ultra High Tensile Cord
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Steel Tire Cord Demand Share Forecast, 2019-2026
11. Europe Steel Tire Cord Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Steel Tire Cord Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Steel Tire Cord Market Size and Volume Forecast by Application
11.4.1. Passenger Car
11.4.2. Truck
11.4.3. Off Road Vehicle
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Steel Tire Cord Market Size and Volume Forecast by Type
11.7.1. Normal Tensile Cord
11.7.2. High Tensile Cord
11.7.3. Ultra High Tensile Cord
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.1. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Steel Tire Cord Demand Share, 2019-2026
12. Asia Pacific Steel Tire Cord Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Steel Tire Cord Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Steel Tire Cord Market Size and Volume Forecast by Application
12.4.1. Passenger Car
12.4.2. Truck
12.4.3. Off Road Vehicle
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Steel Tire Cord Market Size and Volume Forecast by Type
12.7.1. Normal Tensile Cord
12.7.2. High Tensile Cord
12.7.3. Ultra High Tensile Cord
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Steel Tire Cord Demand Share, 2019-2026
13. Middle East & Africa Steel Tire Cord Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Steel Tire Cord Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Steel Tire Cord Market Size and Volume Forecast by Application
13.4.1. Passenger Car
13.4.2. Truck
13.4.3. Off Road Vehicle
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Steel Tire Cord Market Size and Volume Forecast by Type
13.7.1. Normal Tensile Cord
13.7.2. High Tensile Cord
13.7.3. Ultra High Tensile Cord
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Steel Tire Cord Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Steel Tire Cord Market: Market Share Analysis
14.2. Steel Tire Cord Distributors and Customers
14.3. Steel Tire Cord Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Bekaert
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Sumitomo Electric Industries, Ltd
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Xingda International Holdings
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Tokusen
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Formosa Taffeta Co., Ltd.
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Kolon Industries, Inc
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. SRF Ltd
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Kordsa Global
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Saarstahl
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
