Reinforced Green Tire Cord Fabric Market To Grow With 12% CAGR
Passenger cars to dominate
the Global Reinforced Green Tire Cord Fabric Market, 2027F growth.
According to TechSci Research
report, “Reinforced Green Tire
Cord Fabric Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2017-2027” Global reinforced green tire
cord fabric market is expected to grow with a double digit CAGR of 12% during
the forecast period, 2023-2027F whereas the market value in the year 2021 was
USD125 Million. Rising demands for the higher strength and stability in the
vehicle tires drive the growth of the global reinforced green tire cord fabric
market in the upcoming five years. Growing sales and the demands for the
automotives like passenger cars, light commercial vehicle, medium & high
commercial vehicle, two-wheelers, etc. also support the growth of the global
reinforced green tire cord fabric market in the next five years. Higher sales
of the tires, supported by OEM and replacement demands aiding the sales,
further aid the growth of the global reinforced green tire cord fabric market
in the future five years. Sales of electric vehicles, growing concerns among
the populations regarding environmental depletion, coupled with active
participation by the government enforcing favorable regulations regarding use
of green vehicles and green products also substantiates the growth of the
global reinforced green tire cord fabric market in the forecast years through
2027.
Rapidly growing adaptations
of the recycled products and material for the manufacturing of the various
products including automotive parts such as tires, is expected to further fuel
the growth of the global reinforced green tire cord fabrics market in the
forecast period. Recent technological advancement and growing finances invested
in the research and innovative product development coupled with the expanding
automotive industry that fuels the demand for the innovative green items and
car parts add to the market growth. Tire cords fabric reinforcement are used to
maintain the shape of a tire. They are made
primarily of polyester, nylon, aramid and rayon. These material structures
provide higher rigidity to the tires thus giving the vehicles better handling
and stability. Use of such material is with the purpose to reduce the consumption
of plastics and polymers that may harm the environment and thus using recycled
products decreasing the pollutants and thus aiding to the concept of green
environment.
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The global reinforced green
tire cord fabric market segmentation is based on material type, application,
distribution channel, regional distribution, and competitive landscape. Based
on material type, the market is further segmented into recycle PET, recycle
nylon 66, recycle aramid, and others. Recycle nylon 66 is anticipated to hold
the largest revenue shares of the market and dominate the market segment in the
upcoming five years on the grounds of superior fatigue resistance, high
tenacity, and improved adhesion to rubber attributes offered by the material to
the tire. The material is beneficial in terms of manufacturing high wear
resistance tires that are required for commercial applications such as Aircraft tires, agricultural
tires,
truck tires, etc.
By application, the market is
fragmented into passenger car, light commercial vehicle, medium & heavy
commercial vehicle, two wheeler, three wheeler, and others. Based on
distribution channel, the market is differentiated between direct and indirect
channels. The market analysis also studies the regional segmentation, divided among
Asia-Pacific region, North American region, European & CIS region, South
American region, and Middle East & African region.
Some of the market players,
dominating the global reinforced green tire cord fabric market are
·
Kordsa
Teknik Tekstil AS
·
Indorama
Ventures Ltd
·
SRF
Ltd
·
Century
Enka Ltd
·
Hyosung
Industries Co. Limited
·
Hengli
Group
·
Shinkong
Synthetic Fibers Corporation
·
Kolon
Industries Inc.
·
Toray
Industries Inc
·
Teijin
Ltd
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“Asia Pacific region is
anticipated to hold the largest market for the reinforced green tire cord
fabric in the future years due to local availability of major raw materials.
Higher population in the region due to growing population in the large
economies like China, India, further fuels the growing demand for the passenger
cars and thus aiding the growth of the global reinforced green tire cord fabric
market in the future years. With dedicated research and development sector and
growing number of the market players actively investing in the development of
the innovative reinforced green tire cord fabric also play favorable roles in
the growth of the global reinforced green tire cord fabric market in the next
five years. New market players are advised to focus on the research and
investing in the research and product development to enter the market with the
advanced product thereby aiding their brand establishment in the future years,”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Reinforced Green Tire
Cord Fabric Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2017-2027 Segmented By Material Type (Recycle PET, Recycle Nylon 66,
Recycle Aramid, Others), By Application (Passenger Car, Light Commercial Vehicle,
Medium & Heavy Commercial Vehicle, Two Wheeler, Three Wheeler, Others), By
Distribution Channel (Direct Vs Indirect), By Region”, has evaluated the future
growth potential of global reinforced green tire cord fabric and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global reinforced green tire cord fabric
market.
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