Tire Reinforcement Materials Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The market for tire reinforcement materials is expected to register a CAGR of more than 6% during the forecast period.
Tire reinforcement materials had a growth in 2021, with the increase in automotive production across the globe. According to OICA data, automotive production across the world increased by a slight value of 3% in 2021 compared to 2020. In the coming years, with the increase in industrial applications and growth in the automotive industry, the market is expected to grow in the coming years.
Key HighlightsThe tire reinforcement materials market is partially consolidated in nature. Some of the major players (not in any particular order) in the market include DuPont, Hyosung, SRF Limited, Teijin Ltd, and Toray Hybrid Cord Inc.
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