Global Single End Cord Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Single End Cord Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Single End Cord is made from synthetic yarns such as nylon, polyester, aramid, and rayon. These yarns are twisted into single or multi-ply cords, then cured to physical properties according to customer requirements, and packaged on spools as single ends, rather than rolled into a roll-like fabric. Single End Cord with high fracture toughness and low creep for excellent stability. Single End Cord is commonly used in tires, belts, hoses, cables, and ropes.

Market Overview:

The latest research study on the global Single End Cord market finds that the global Single End Cord market reached a value of USD 199.36 million in 2022. It’s expected that the market will achieve USD 254.91 million by 2028, exhibiting a CAGR of 4.18% during the forecast period.

Increased demand in the conveyor belt industry

Conveyor belts are widely used, including all aspects of processing and manufacturing. Due to the growing consumer demand for consumer goods, various industries are building automated assembly lines using standard conveyor belt systems to increase the productivity of manufacturing facilities. Using conveyor belts to move products along the production line is more efficient than physically transporting products to each station, reducing labor costs and overall turnaround time required for specific procedures. Emerging trends in industrial automation, resulting in the growing demand for advanced conveyor belts with self-cleaning properties, reduced operating costs, and high energy efficiency, are driving the conveyor belt market to upgrade. The expansion of warehousing and distribution facilities across the globe due to the continuous growth of the e-commerce industry has led to an increase in the demand for lightweight conveyor belts in the logistics industry. The growth of supermarkets and retail chains has also driven the expansion of the application of conveyor belts in the warehouses of these merchants, thereby driving the demand of the entire consumer goods industry. The booming e-commerce industry presents huge opportunities for material handling and storage in warehouses. Attracted by home delivery, attractive discounts, aggressive marketing, and favorable government initiatives, buyers' consumption behavior is gradually shifting from offline to online. Consumer goods makers have also increased partnerships with shopping sites such as Amazon to cater to a larger customer base. Overall, conveyor belt manufacturers are continually improving product performance and materials to ensure that belts are safer, more efficient, and more durable. With the gradual acceleration of the automation process in various industries, the market for conveyor belt products continues to expand, which will also drive the increasing demand for SEC.

The rapid development of the automotive industry

The automotive industry is one of the largest industries in the world. It has become the pillar industry of the national economy of the United States, Japan, Germany, France and other developed countries. It has the characteristics of high industrial correlation, wide coverage, high technical requirements, strong comprehensiveness, many parts and components, and high added value. Automobile single-ended wire is a kind of wire widely used in the automobile industry and is used to manufacture automobile rubber hoses, automobile tires, automobile belts, etc. Automobile single-ended wires are favored by people for their low cost and high strength. Among them, tire cords are an important part of vehicle performance. Tire cords provide support and help maintain the tire's shape. It improves vehicle performance and fuel consumption by absorbing greater weight and stress over a longer period. It absorbs the gross weight of the vehicle and provides elongation and absorption properties, and is an important structural component of the tire. Moreover, metal chains in tires are gradually being replaced by belts to reduce CO2 emissions. Global demand for energy-efficient vehicles is expected to drive the global tire cord market. In recent years, increasing production of passenger cars, trucks, buses, and other commercial vehicles has driven the growth of the automotive market. Increasing road conditions and the development of new roads along with increasing infrastructure development plans have positively impacted the automotive market. The increasing adoption of electric vehicles is expected to drive up the demand. The global single-ended wire rod market for the automotive industry is indirectly driven by the rising sales of automobiles. Therefore, the rapid expansion of the automotive industry will increase the demand for tires and tire components such as SEC.

Market competition intensifies

At present, the downward pressure on the global economy is increasing, the uncertainty of trade disputes is increasing, and the economic growth of many countries is slowing down. The SEC industry is less concentrated and more competitive. On a global scale, international leading companies have certain technological advantages and can provide global patent protection, but their disadvantages lie in product cost and customer service. Because the product prices of large companies are generally higher, the pressure is greater under the fierce market competition. At present, foreign SEC companies are beginning to choose transformation and adjustment, and their production capacity is gradually shifting to developing countries. SEC's low-end application product industry has a low threshold and does not require high technology and capital. There are many small and medium-sized manufacturers, and the competition is fierce. Due to the large number of players, the SEC market is constantly launching new products, further intensifying the competition. Moreover, fluctuations in raw material prices and preference for retreaded treads in the commercial vehicle segment are expected to negatively impact SEC market growth. These unfavorable factors make the development of SEC companies face huge challenges, and SEC companies need to comprehensively improve their strengths to continue to develop.

Region Overview:

In 2022, the share of the Single End Cord market in Asia Pacific stood at 38.89%.

Company Overview:

The major players operating in the Single End Cord market include Indorama Ventures (Glanzstoff), SKS Textiles, Kordsa, Shakti Cords, Zhejiang Unifull, etc. Among which, Indorama Ventures (Glanzstoff) ranked top in terms of sales and revenue in 2023.

Indorama Ventures (Glanzstoff)

Indorama Ventures is a world-class sustainable chemistry company with a global leadership position in PET and fibers, serving key customers in diverse end-use markets.

SKS Textiles

SKS was founded in 1918 as a viscose spinner and has developed over the decades towards a dedicated converter for High-Performance Yarns. Today SKS is an internationally operating company that supplies customers throughout the world with high-performance yarns and cords for MRG, Tire, and Paper Felt applications. As an important link in the value chain for automotive and industrial manufacturers, SKS services these markets with a global sales and marketing approach.

Segmentation Overview:

By type, Polyester Cord segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Conveyor Belts segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Single End Cord market covered in Chapter 3:

Cordus
Zhejiang Unifull
Qingdao Tipont Cord Co., Ltd
SKS Textiles
Indorama Ventures (Glanzstoff)
SANWU TEXTILE CO., LTD.
Kordsa
Shakti Cords

In Chapter 4 and Chapter 14.2, on the basis of types, the Single End Cord market from 2018 to 2029 is primarily split into:

Polyester Cord
Nylon Cord
Aramid Cord
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Single End Cord market from 2018 to 2029 covers:

Conveyor Belts
Hose
Tire
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)