Tire Cord Fabric Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented 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

Industry : Chemicals
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Summary

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Report Description

Tire Cord Fabric market is anticipated to grow significantly through 2028 due to the growing demand for lightweight vehicles & 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 exports tire cord fabric of high tenacity yarn to Singapore worth USD50 Thousand in 2021.

Tire cord fabrics are used as a reinforcing element in the production of tires. 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 aeroplanes and this aspect is anticipated to be the main driver for the growth of the market 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 per kilograms of weight, whereas electric vehicles can save 7-8/kgs. 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 Global Tire Cord Fabric market in the upcoming years.

Growing Demand for Lightweight & 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 which are used in automobile parts provides greater fuel efficiency and reducing emissions. Due to its increased fuel economy, tire cord is considered a crucial component for vehicle's performance. The global tire cords 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 the production of automobiles results in increased demand for Global Tire Cord Fabric market in the forecast period.

Increasing Focus on Developing Eco-Friendly Tire

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

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

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.

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Market Segmentation

Global Tire Cord Fabric Market is segmented based on vehicle type, material, tire type, application, and region. 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, and By Company.

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.

Attribute	Details
Base Year	2022
Historic Data	2018 – 2021
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Revenue in USD Million, Volume in Units, and CAGR for 2018-2022 and 2023-2028
Report coverage	Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends
Segments covered	Vehicle Type Material Tire Type Application
Regional scope	North America, Europe, Asia Pacific, South America, Middle East & Africa
Country scope	United States, Mexico, Canada, France, Germany, United Kingdom, Spain, Italy, Switzerland, China, India, South Korea, Japan, Australia, Brazil, Argentina, South Africa, Saudi Arabia, UAE
Key companies profiled	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
Customization scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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
Other

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.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

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

Global Tire Cord Fabric Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected].

Table of content

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. Merger’s & 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

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Press Release

Tire Cord Fabric Market to be Dominated by Automotive Sector through 2028

May, 2023

Rising demand for lightweight vehicles & electric vehicles (EVs) is expected to drive the Tire Cord Fabric market in the forecast period 2024-2028.

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