Global Tire Cord Market By Material (Steel Cord, Polyester, Nylon, Rayon, Aramid, Others), Tire Type (Radial Tire, Biased Tire), Application (Aerospace, Passenger Cars, Light Commercial Vehicles, Heavy Duty Vehicles, Two Wheelers, Tractors, Others) – Industry Trends and Forecast to 2029
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Data Bridge Market Research analyses that the tire cord market was valued at USD 7.76 billion in 2021 and is expected to reach the value of USD 13.53 billion by 2029, at a CAGR of 7.20% during the forecast period of 2022 to 2029.
**Segments**
- Material: The tire cord market can be segmented based on the material used, such as polyester, nylon, rayon, aramid, and others. Each material offers different characteristics in terms of strength, durability, and heat resistance, catering to various requirements in the tire industry.
- Product Type: Another segmentation factor is the product type, which includes steel tire cord and fabric tire cord. Steel tire cord provides high strength and resistance to punctures, while fabric tire cord offers flexibility and impact resistance.
- Application: The market can also be segmented based on application, including passenger vehicles, commercial vehicles, two-wheelers, and off-road vehicles. Different types of vehicles require tire cords with specific attributes to ensure optimal performance and safety on the road.
**Market Players**
- Hyosung Corporation: As a leading player in the tire cord industry, Hyosung Corporation offers a wide range of high-quality tire cord products catering to different material and application requirements. With a strong global presence, the company has established itself as a key supplier in the market.
- Kordsa Global: Kordsa Global is another prominent market player known for its innovative tire cord solutions. The company focuses on research and development to introduce advanced materials that enhance the performance and durability of tires, meeting the evolving needs of the automotive sector.
- SRF Limited: SRF Limited is a key player in the tire cord market, providing innovative solutions for various applications in the automotive industry. With a focus on sustainability and quality, the company delivers reliable tire cord products that meet stringent industry standards.
- Bekaert: Bekaert is a renowned manufacturer of tire cord products, offering a diverse portfolio of materials and technologies for the tire industry. The company's expertise in steel wire and fiber reinforcement ensures durable and high-performance tire solutions for different vehicle types.
The tire cord market is witnessing significant growth due to increasing demand for lightweight and high-performance tires in the automotive sector. Key market players are focusing on researchThe tire cord market is experiencing substantial growth driven by the rising demand for lightweight and high-performance tires in the automotive industry. This growth can be attributed to factors such as increasing vehicle production, expanding transportation infrastructure, and growing emphasis on fuel efficiency and safety standards. The segmentation of the tire cord market into material, product type, and application allows manufacturers to tailor their offerings to meet specific requirements of different segments within the automotive sector.
In terms of material segmentation, the use of different materials such as polyester, nylon, rayon, aramid, and others provides manufacturers with the flexibility to develop tire cords with varying attributes such as strength, durability, and heat resistance. This enables them to cater to diverse needs in the tire industry, ensuring that the tires produced are suitable for different vehicle types and operating conditions. For instance, polyester tire cords may be preferred for their high tensile strength and resistance to abrasion, while aramid tire cords offer exceptional heat resistance and dimensional stability.
Product type segmentation, which includes steel tire cord and fabric tire cord, further enhances the market's ability to address specific requirements of different vehicle segments. Steel tire cords are known for their superior strength and resistance to punctures, making them ideal for heavy-duty applications in commercial vehicles and off-road vehicles where durability is paramount. On the other hand, fabric tire cords provide flexibility and impact resistance, making them suitable for passenger vehicles and two-wheelers where comfort and ride quality are critical factors.
The application-based segmentation of the tire cord market offers insights into the unique demands of various vehicle categories such as passenger vehicles, commercial vehicles, two-wheelers, and off-road vehicles. Each application requires tire cords with specific characteristics to ensure optimal performance and safety on the road. For example, passenger vehicles may require tire cords that offer a balance of comfort, traction, and durability, while commercial vehicles may prioritize load-bearing capacity and wear resistance.
Key market players such as Hyosung Corporation, Kordsa Global, SRF Limited, and Beka**Global Tire Cord Market Analysis**
The global tire cord market is experiencing substantial growth driven by the rising demand for lightweight and high-performance tires in the automotive industry. Factors such as increasing vehicle production, expanding transportation infrastructure, and growing emphasis on fuel efficiency and safety standards are contributing to market expansion. The segmentation of the tire cord market into material, product type, and application allows manufacturers to tailor their offerings to meet specific requirements of different segments within the automotive sector.
**Segments:**
- Material: The use of different materials such as steel cord, polyester, nylon, rayon, aramid, and others provides manufacturers with the flexibility to develop tire cords with varying attributes such as strength, durability, and heat resistance.
- Tire Type: The classification into radial tire and biased tire types further refines the market segmentation, catering to different tire construction methods and applications.
- Application: The segmentation based on application, including aerospace, passenger cars, light commercial vehicles, heavy-duty vehicles, two-wheelers, tractors, and others, highlights the diverse needs of various vehicle categories in terms of tire performance and safety.
Companies like Hyosung Corporation, Kordsa Global, SRF Limited, and Bekaert are prominent players in the tire cord market, offering innovative solutions and high-quality products to meet the evolving demands of the automotive industry. These market leaders focus on research and development to introduce advanced materials that enhance tire performance, durability, and safety.
The market analysis indicates a growing trend towards the
Key Coverage in the Tire Cord Market Report:
- Detailed analysis of Global Tire Cord Market by a thorough assessment of the technology, product type, application, and other key segments of the report
- Qualitative and quantitative analysis of the market along with CAGR calculation for the forecast period
- Investigative study of the market dynamics including drivers, opportunities, restraints, and limitations that can influence the market growth
- Comprehensive analysis of the regions of the Tire Cord industry and their futuristic growth outlook
- Competitive landscape benchmarking with key coverage of company profiles, product portfolio, and business expansion strategies
Table of Content:
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Global Tire Cord Market Landscape
Part 04: Global Tire Cord Market Sizing
Part 05: Global Tire Cord Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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