Tire Reinforcement Material Market Report: Trends, Forecast and Competitive Analysis to 2030

Tire Reinforcement Material Market Report: Trends, Forecast and Competitive Analysis to 2030

Tire Reinforcement Material Trends and Forecast

The future of the global tire reinforcement material market looks promising with opportunities in the automobile carcass, belt ply, and cap ply applications. The global tire reinforcement material market is expected to reach an estimated $18.7 billion by 2030 with a CAGR of 3.6% from 2024 to 2030. The major drivers for this market are growing automotive industry, rising demand for fuel-efficient and sustainable tires, and advancements in tire technology and the use of high-performance materials.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Tire Reinforcement Material by Segment

The study includes a forecast for the global tire reinforcement material by type, material type, technology, application, and region.

Tire Reinforcement Material Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Tire Cord Fabric
• Tire Bead Wire

Tire Reinforcement Material Market by Material Type [Shipment Analysis by Value from 2018 to 2030]:

• Steel
• Polyester
• Nylon
• Rayon
• Aramid
• Others

Tire Reinforcement Material Market by Technology [Shipment Analysis by Value from 2018 to 2030]:

• Drawing
• Melt Spinning
• Solution Spinning

Tire Reinforcement Material Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Automobile Carcasses
• Belt Ply
• Cap Ply
• Others

Tire Reinforcement Material Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Tire Reinforcement Material Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies tire reinforcement material companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the tire reinforcement material companies profiled in this report include-

• Bridgestone
• Century Enka
• Cordenka
• DuPont De Nemours
• Formosa Taffeta
• Kolon Industries
• KORDSA Teknik Tekstil
• NV Bekaert
• SRF
• Teijin

Tire Reinforcement Material Market Insights

Lucintel forecasts that tire cord fabric will remain the largest segment over the forecast period due to its qualities, including its resistance to abrasion, high strength, and controlled deformation.

Within this market, cap ply is expected to witness the highest growth over the forecast period.

APAC will remain the largest region over the forecast period due to rising automotive production and expanding adoption of automobiles among population in the region.

Features of the Global Tire Reinforcement Material Market

Market Size Estimates: Tire reinforcement material market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Tire reinforcement material market size by various segments, such as by type, material type, technology, application, and region in terms of value ($B).

Regional Analysis: Tire reinforcement material market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, material types, technologies, applications, and regions for the tire reinforcement material market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the tire reinforcement material market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the tire reinforcement material market size?

Answer: The global tire reinforcement material market is expected to reach an estimated $18.7 billion by 2030.

Q2. What is the growth forecast for tire reinforcement material market?

Answer: The global tire reinforcement material market is expected to grow with a CAGR of 3.6% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the tire reinforcement material market?

Answer: The major drivers for this market are growing automotive industry, rising demand for fuel-efficient and sustainable tires, and advancements in tire technology and the use of high-performance materials.

Q4. What are the major segments for tire reinforcement material market?

Answer: The future of the tire reinforcement material market looks promising with opportunities in the automobile carcass, belt ply, and cap ply applications.

Q5. Who are the key tire reinforcement material market companies?

Answer: Some of the key tire reinforcement material companies are as follows:

• Bridgestone
• Century Enka
• Cordenka
• DuPont De Nemours
• Formosa Taffeta
• Kolon Industries
• KORDSA Teknik Tekstil
• NV Bekaert
• SRF
• Teijin

Q6. Which tire reinforcement material market segment will be the largest in future?

Answer: Lucintel forecasts that tire cord fabric will remain the largest segment over the forecast period due to its qualities, including its resistance to abrasion, high strength, and controlled deformation.

Q7. In tire reinforcement material market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to rising automotive production and expanding adoption of automobiles among population in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the tire reinforcement material market by type (tire cord fabric and tire bead wire), material type (steel, polyester, nylon, rayon, aramid, and others), technology (drawing, melt spinning, and solution spinning), application (automobile carcasses, belt ply, cap ply, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?