Tire Cord Fabric Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,900	112 Pages	TechSci Research	August, 2023	TCSI18181489

Best Price Guarantee
Price	from $4,900
Length	112 Pages
Publisher	TechSci Research
Published Date	August, 2023
SKU	TCSI18181489

Tire Cord Fabric Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028FSegmented By Vehicle Type (ICE Vehicles, Electric Vehicles), By Material (Steel Cord, Polyester, Nylon, Aramid, Others), By Tire Type (Radial, Bias), By Application (Original Equipment Manufacturer (OEM), Replacement), By Region and Competition

The Global Tire Cord Fabric Market is anticipated to grow significantly through 2028 due to the growing demand for lightweight vehicles and electric vehicles (EVs). For instance, the production quantity of tire cords in the textile industry in Japan increased by 5.3 thousand tonnes in 2021.

Furthermore, South Korea exported tire cord fabric of high tenacity yarn to Singapore worth USD 50 thousand in 2021. Tire cord fabrics are used as reinforcing elements in tire production. These materials are made with the intention of supporting vehicle weight and maintaining the shape of tires, while also contributing to longer tire life. A variety of products are used in the production of lightweight, wear-resistant tires for passenger cars, trucks, SUVs, and airplanes, and this aspect is anticipated to be the main driver for market growth in the upcoming years.

Rising Demand for Electric Vehicles (EVs)

Several researchers estimate that the higher costs per kilogram of weight saved in vehicle weight reduction techniques will be feasible with electric cars. Regular IC engine-powered automobiles can only save 2-3 kilograms of weight, whereas electric vehicles can save 7-8 kilograms. Electric vehicle (EV) traditional tires deteriorate roughly 30% more quickly than conventional tires. As a result, producers are using aramid fibers to make incredibly light and durable tires for the electric car sector.

For instance, according to the Global EV Outlook 2022, consumers spent USD 250 billion on electric vehicle purchases in 2021. Furthermore, global sales of electric cars kept rising strongly in 2022, with 2 million sold in the first quarter, which is 75% up from the same period in 2021. Therefore, increasing demand for EVs led to the growth of the Global Tire Cord Fabric Market.

Growing Demand for Lightweight and Fuel-Efficient Vehicles

The automobile industry depends largely on tires and tire supplies for secure and safe transportation. Automobiles employ tire cord textiles to maintain the shape and longevity of the tires. Tire cords increase vehicle and fuel efficiency by absorbing more weight and pressure for a longer duration. The essential need for lightweight components used in automobile parts provides greater fuel efficiency and reduces emissions. Due to its increased fuel economy, tire cord is considered a crucial component for a vehicle's performance. The global tire cord fabric market is anticipated to grow as a result of rising consumer demand for fuel-efficient automobiles.

For instance, according to the International Organization of Motor Vehicle Manufacturers, the total number of vehicles produced in 2021 was more than 80 million. Therefore, an increase in automobile production results in increased demand for the Global Tire Cord Fabric Market in the forecast period.

Increasing Focus on Developing Eco-Friendly Tires

By forming alliances and introducing new products, the top players in the tire cord fabric market are focusing on creating durable tire cord fabric for environmentally friendly tires. This approach allows for the bonding of fabric to rubber without the use of resorcinol or formaldehyde and does not require any modifications to the process equipment, benefiting tire cord producers and the sustainable supply chain.

For instance, in 2020, a joint venture between Continental, a German automobile components producer, and Kordsa, a Turkish tire and construction reinforcement manufacturer, introduced the first series of tires with Cokoon Dip Technology. These tires use resorcinol and formaldehyde-free adhesion..

Recent Developments

In October 2022, Hyosung Advanced Materials acquired ISCC (International Sustainability & Carbon Certification) PLUS with its eco-friendly materials for developing Bio-based Nylon fiber yarns and tire cord.
Vinyl Pyridine Latex Business of Synthomer PLC was bought by Trinseo, a leading US-based maker of synthetic rubber, plastics, and latex binders in May 2020.
In October 2018, Kordárna Plus AS, the largest producer of tire cord fabrics in Europe, was purchased by Indorama Ventures Public Company Limited.
Hyosung Advanced Materials started the factory in Quang Nam Province, Vietnam to increase the production of tire cord fabrics in June 2018.

Market Segmentation

Global Tire Cord Fabric Market is segmented based on vehicle type, material, tire type, application, region and competitive landscape. Based on the vehicle type, the market is categorized into ICE vehicles and electric vehicles. Based on the material, the market is fragmented into steel cord, polyester, nylon, aramid, and others. Based on the tire type, the market is divided into radial and bias. Based on the application, the market is segmented into original equipment manufacturer (OEM) and replacement. Based on region, the market is divided into North America, Europe, Asia Pacific, South America, Middle East & Africa.

Market Players

Toray Hybrid Cord, Inc., Benninger AG, Century Enka Limited, Kolon Industries, Inc., SRF Ltd., Bekaert SA, Hyosung Advanced Materials Corp., Cordenka GmbH & Co KG, Madura Industrial Textiles Ltd., Junma Tyre Cord Company Limited are some of the key players of Global Tire Cord Fabric Market.

Report Scope:

In this report, Global Tire Cord Fabric Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

Tire Cord Fabric Market, By Vehicle Type:
ICE Vehicles
Electric Vehicles
Tire Cord Fabric Market, By Material:
Steel Cord
Polyester
Nylon
Aramid
Others
Tire Cord Fabric Market, By Tire Type:
Radial
Bias
Tire Cord Fabric Market, By Application:
Original Equipment Manufacturer (OEM)
Replacement
Tire Cord Fabric Market, By Region:
North America
United States
Mexico
Canada
Europe
France
Germany
United Kingdom
Spain
Italy
Switzerland
Asia-Pacific
China
India
South Korea
Japan
Australia
South America
Brazil
Argentina
Middle East & Africa
South Africa
Saudi Arabia
UAE

Competitive landscape

Company Profiles: Detailed analysis of the major companies present in the global tire cord fabric market.

Company Information

Detailed analysis and profiling of additional market players (up to five).

Please Note: Report will be updated with the latest data and delivered to you within 3-5 working days of order. Single User license will be delivered in PDF format without printing rights

1. Product Overview: 1.1. Market Definition; 1.2. Scope of the Market; 1.2.1. Markets Covered; 1.2.2. Years Considered for Study; 1.2.3. Key Market Segmentations
2. Research Methodology: 2.1. Objective of the Study; 2.2. Baseline Methodology; 2.3. Key Industry Partners; 2.4. Major Association and Secondary Sources; 2.5. Forecasting Methodology; 2.6. Data Triangulation & Validation; 2.7. Assumptions and Limitations
3. Executive Summary: 3.1. Overview of the Market; 3.2. Overview of Key Market Segmentations; 3.3. Overview of Key Market Players; 3.4. Overview of Key Regions/Countries; 3.5. Overview of Market Drivers, Challenges, Trends
4. Voice of Customer
5. Global Tire Cord Fabric Market Outlook: 5.1. Market Size & Forecast; 5.1.1. By Value & Volume; 5.2. Market Share & Forecast; 5.2.1. By Vehicle Type (ICE Vehicles, Electric Vehicles); 5.2.2. By Material (Steel Cord, Polyester, Nylon, Aramid, Others); 5.2.3. By Tire Type (Radial, Bias); 5.2.4. By Application (Original Equipment Manufacturer (OEM), Replacement); 5.2.5. By Region (North America, Europe, Asia Pacific, South America, Middle East & Africa); 5.2.6. By Company (2022); 5.3. Market Map; 5.3.1. By Vehicle Type; 5.3.2. By Material; 5.3.3. By Tire Type; 5.3.4. By Application; 5.3.5. By Region
6. North America Tire Cord Fabric Market Outlook: 6.1. Market Size & Forecast; 6.1.1. By Value & Volume; 6.2. Market Share & Forecast; 6.2.1. By Vehicle Type; 6.2.2. By Material; 6.2.3. By Tire Type; 6.2.4. By Application; 6.2.5. By Country; 6.3. Pricing Analysis; 6.4. North America: Country Analysis; 6.4.1. United States Tire Cord Fabric Market Outlook; 6.4.1.1. Market Size & Forecast; 6.4.1.1.1. By Value & Volume; 6.4.1.2. Market Share & Forecast; 6.4.1.2.1. By Vehicle Type; 6.4.1.2.2. By Material; 6.4.1.2.3. By Tire Type; 6.4.1.2.4. By Application; 6.4.2. Mexico Tire Cord Fabric Market Outlook; 6.4.2.1. Market Size & Forecast; 6.4.2.1.1. By Value & Volume; 6.4.2.2. Market Share & Forecast; 6.4.2.2.1. By Vehicle Type; 6.4.2.2.2. By Material; 6.4.2.2.3. By Tire Type; 6.4.2.2.4. By Application; 6.4.3. Canada Tire Cord Fabric Market Outlook; 6.4.3.1. Market Size & Forecast; 6.4.3.1.1. By Value & Volume; 6.4.3.2. Market Share & Forecast; 6.4.3.2.1. By Vehicle Type; 6.4.3.2.2. By Material; 6.4.3.2.3. By Tire Type; 6.4.3.2.4. By Application
7. Europe Tire Cord Fabric Market Outlook: 7.1. Market Size & Forecast; 7.1.1. By Value & Volume; 7.2. Market Share & Forecast; 7.2.1. By Vehicle Type; 7.2.2. By Material; 7.2.3. By Tire Type; 7.2.4. By Application; 7.2.5. By Country; 7.3. Pricing Analysis; 7.4. Europe: Country Analysis; 7.4.1. France Tire Cord Fabric Market Outlook; 7.4.1.1. Market Size & Forecast; 7.4.1.1.1. By Value & Volume; 7.4.1.2. Market Share & Forecast; 7.4.1.2.1. By Vehicle Type; 7.4.1.2.2. By Material; 7.4.1.2.3. By Tire Type; 7.4.1.2.4. By Application; 7.4.2. Germany Tire Cord Fabric Market Outlook; 7.4.2.1. Market Size & Forecast; 7.4.2.1.1. By Value & Volume; 7.4.2.2. Market Share & Forecast; 7.4.2.2.1. By Vehicle Type; 7.4.2.2.2. By Material; 7.4.2.2.3. By Tire Type; 7.4.2.2.4. By Application; 7.4.3. United Kingdom Tire Cord Fabric Market Outlook; 7.4.3.1. Market Size & Forecast; 7.4.3.1.1. By Value & Volume; 7.4.3.2. Market Share & Forecast; 7.4.3.2.1. By Vehicle Type; 7.4.3.2.2. By Material; 7.4.3.2.3. By Tire Type; 7.4.3.2.4. By Application; 7.4.4. Spain Tire Cord Fabric Market Outlook; 7.4.4.1. Market Size & Forecast; 7.4.4.1.1. By Value & Volume; 7.4.4.2. Market Share & Forecast; 7.4.4.2.1. By Vehicle Type; 7.4.4.2.2. By Material; 7.4.4.2.3. By Tire Type; 7.4.4.2.4. By Application; 7.4.5. Italy Tire Cord Fabric Market Outlook; 7.4.5.1. Market Size & Forecast; 7.4.5.1.1. By Value & Volume; 7.4.5.2. Market Share & Forecast; 7.4.5.2.1. By Vehicle Type; 7.4.5.2.2. By Material; 7.4.5.2.3. By Tire Type; 7.4.5.2.4. By Application; 7.4.6. Switzerland Tire Cord Fabric Market Outlook; 7.4.6.1. Market Size & Forecast; 7.4.6.1.1. By Value & Volume; 7.4.6.2. Market Share & Forecast; 7.4.6.2.1. By Vehicle Type; 7.4.6.2.2. By Material; 7.4.6.2.3. By Tire Type; 7.4.6.2.4. By Application
8. Asia-Pacific Tire Cord Fabric Market Outlook: 8.1. Market Size & Forecast; 8.1.1. By Value & Volume; 8.2. Market Share & Forecast; 8.2.1. By Vehicle Type; 8.2.2. By Material; 8.2.3. By Tire Type; 8.2.4. By Application; 8.2.5. By Country; 8.3. Pricing Analysis; 8.4. Asia-Pacific: Country Analysis; 8.4.1. China Tire Cord Fabric Market Outlook; 8.4.1.1. Market Size & Forecast; 8.4.1.1.1. By Value & Volume; 8.4.1.2. Market Share & Forecast; 8.4.1.2.1. By Vehicle Type; 8.4.1.2.2. By Material; 8.4.1.2.3. By Tire Type; 8.4.1.2.4. By Application; 8.4.2. India Tire Cord Fabric Market Outlook; 8.4.2.1. Market Size & Forecast; 8.4.2.1.1. By Value & Volume; 8.4.2.2. Market Share & Forecast; 8.4.2.2.1. By Vehicle Type; 8.4.2.2.2. By Material; 8.4.2.2.3. By Tire Type; 8.4.2.2.4. By Application; 8.4.3. South Korea Tire Cord Fabric Market Outlook; 8.4.3.1. Market Size & Forecast; 8.4.3.1.1. By Value & Volume; 8.4.3.2. Market Share & Forecast; 8.4.3.2.1. By Vehicle Type; 8.4.3.2.2. By Material; 8.4.3.2.3. By Tire Type; 8.4.3.2.4. By Application; 8.4.4. Japan Tire Cord Fabric Market Outlook; 8.4.4.1. Market Size & Forecast; 8.4.4.1.1. By Value & Volume; 8.4.4.2. Market Share & Forecast; 8.4.4.2.1. By Vehicle Type; 8.4.4.2.2. By Material; 8.4.4.2.3. By Tire Type; 8.4.4.2.4. By Application; 8.4.5. Australia Tire Cord Fabric Market Outlook; 8.4.5.1. Market Size & Forecast; 8.4.5.1.1. By Value & Volume; 8.4.5.2. Market Share & Forecast; 8.4.5.2.1. By Vehicle Type; 8.4.5.2.2. By Material; 8.4.5.2.3. By Tire Type; 8.4.5.2.4. By Application
9. South America Tire Cord Fabric Market Outlook: 9.1. Market Size & Forecast; 9.1.1. By Value & Volume; 9.2. Market Share & Forecast; 9.2.1. By Vehicle Type; 9.2.2. By Material; 9.2.3. By Tire Type; 9.2.4. By Application; 9.2.5. By Country; 9.3. Pricing Analysis; 9.4. South America: Country Analysis; 9.4.1. Brazil Tire Cord Fabric Market Outlook; 9.4.1.1. Market Size & Forecast; 9.4.1.1.1. By Value & Volume; 9.4.1.2. Market Share & Forecast; 9.4.1.2.1. By Vehicle Type; 9.4.1.2.2. By Material; 9.4.1.2.3. By Tire Type; 9.4.1.2.4. By Application; 9.4.2. Argentina Tire Cord Fabric Market Outlook; 9.4.2.1. Market Size & Forecast; 9.4.2.1.1. By Value & Volume; 9.4.2.2. Market Share & Forecast; 9.4.2.2.1. By Vehicle Type; 9.4.2.2.2. By Material; 9.4.2.2.3. By Tire Type; 9.4.2.2.4. By Application
10. Middle East and Africa Tire Cord Fabric Market Outlook: 10.1. Market Size & Forecast; 10.1.1. By Value & Volume; 10.2. Market Share & Forecast; 10.2.1. By Vehicle Type; 10.2.2. By Material; 10.2.3. By Tire Type; 10.2.4. By Application; 10.2.5. By Country; 10.3. Pricing Analysis; 10.4. MEA: Country Analysis; 10.4.1. South Africa Tire Cord Fabric Market Outlook; 10.4.1.1. Market Size & Forecast; 10.4.1.1.1. By Value & Volume; 10.4.1.2. Market Share & Forecast; 10.4.1.2.1. By Vehicle Type; 10.4.1.2.2. By Material; 10.4.1.2.3. By Tire Type; 10.4.1.2.4. By Application; 10.4.2. Saudi Arabia Tire Cord Fabric Market Outlook; 10.4.2.1. Market Size & Forecast; 10.4.2.1.1. By Value & Volume; 10.4.2.2. Market Share & Forecast; 10.4.2.2.1. By Vehicle Type; 10.4.2.2.2. By Material; 10.4.2.2.3. By Tire Type; 10.4.2.2.4. By Application; 10.4.3. UAE Tire Cord Fabric Market Outlook; 10.4.3.1. Market Size & Forecast; 10.4.3.1.1. By Value & Volume; 10.4.3.2. Market Share & Forecast; 10.4.3.2.1. By Vehicle Type; 10.4.3.2.2. By Material; 10.4.3.2.3. By Tire Type; 10.4.3.2.4. By Application
11. Market Dynamics: 11.1. Drivers; 11.1.1. Rising demand for lightweight and fuel-efficient vehicles; 11.1.2. Growing demand for radial tire; 11.1.3. Increasing uses by automotive and aerospace sector; 11.2. Challenges; 11.2.1. Increasing concern regarding recyclability; 11.2.2. Fluctuation in the raw material cost
12. Market Trends & Developments: 12.1. Product Launches; 12.2. Mergers & Acquisitions; 12.3. Technological Advancements
13. Global Tire Cord Fabric Market: SWOT Analysis
14. Porter’s Five Forces Analysis: 14.1. Competition in the Industry; 14.2. Potential of New Entrants; 14.3. Power of Suppliers; 14.4. Power of Customers; 14.5. Threat of Substitute Types
15. Competitive Landscape: 15.1. Business Overview; 15.2. Type Offerings; 15.3. Recent Developments; 15.4. Financials (As Reported); 15.5. Key Personnel; 15.6. SWOT Analysis; 15.6.1. Toray Hybrid Cord,Inc.; 15.6.2. Benninger AG; 15.6.3. Century Enka Limited; 15.6.4. Kolon Industries, Inc.; 15.6.5. SRF Ltd.; 15.6.6. Bekaert SA; 15.6.7. Hyosung Advanced Materials Corp.; 15.6.8. Cordenka GmbH & Co KG; 15.6.9. Madura Industrial Textiles Ltd.; 15.6.10. Junma Tyre Cord Company Limited
16. Strategic Recommendations