Tire Cord Fabrics Market Research Report—Global Forecast till 2027

Global Tire Cord Fabrics Market Research Report: Information by By Material (Naylon, Polyester, Rayon), By Tire Type (Radial Tires, Bias Tires), By Vehicle Type (Passenger cars, Commercials Cars), By Application (OEM, Replacement) Forecast till 2028

ID: MRFR/CnM/9063-HCR | April 2021 | Region: Global | 180 pages

Market Synopsis

According to MRFR analysis, the global tire cord fabrics market is projected toregister a CAGR of 3.9% to reach USD 7,923.5 million by the end of 2027.

Tire cord fabrics are used as a reinforcing material in the tire production process. These fabrics are specifically designed to keep tires in shape and support vehicle weight. Additionally, they help increase tire life. These fabrics are generally made from synthetic fibers such as polyester and nylon. Fibers are first twisted and woven into fabrics. These fabrics are then dipped into latex adhesive solution to improve their bonding ability with the rubber.

Rising demand for long-lasting, fuel-efficient tires is proving to be the principal factor driving the market growth. Additionally, the growing demand for passenger cars in the emerging economies of India, China, Indonesia, and Brazil is also expected to generate significant demand for radial tires over the forecast period and thereby the demand for tire cord fabrics. Tires on electric vehicles tend to wear out about 30% faster than traditional vehicles. Thus, manufacturers utilize novel materials such as aramid fibers to develop wear-resistant tires specifically for the electric vehicle industry. Thus, the increasing sales of electric vehicles arealso expected to positively impact the product demand in the near future.

In October 2018, Indorama Ventures Public Company Limited completed the acquisition of Kordárna Plus a.s. This acquisition has helped the company reinforce its position as a leading supplier of tire cord fabrics and technical fabrics worldwide.

Standardization Analysis

The International Organization for Standardization (ISO)and the ASTM International have developed various standards to determine the tensile strength of tire cord fabrics and their adhesion to vulcanized rubber. The ASTM D885 / D885M - 10A(2014)e1 standard provides the standard test methods to measure the breaking strength and tenacity of tire cord fabrics meant to be used in pneumatic tires. The ISO 4647:2010 specifies a method for determining the static adhesion of the textile cord to vulcanized rubber using the H‑pull test. It applies to cords made from natural or artificial fibers.

Market Drivers

  • Growing automotive sales in the emerging economies.

  • Growing demand for high performance tires.

Market Restraints

  • Fluctuations in the raw material prices


By Material

  • Nylon: The nylon segment accounted for the largest market share in 2019 andis expected to maintain its leading position over the forecast period. Nylon tire cord fabrics are widely used inheavy-duty wear-resistant tires due to their superior fatigue resistance and high tenacity. Additionally, nylon fabrics are preferred in the production of wet condition tires owing to their lower moisture regain the property.

  • Polyester:The passenger car segment held a significant share of the global tire cord fabrics market in 2019. Polyester fabrics are widely used in the mass production of passenger car tires owing to their lower costs. Furthermore, there is growing adoption of hybrid tire cord fabrics because of their low shrinkage and high strength properties.

  • Rayon:Rayon tire cord fabrics are mainly used in the production of high-speed car tires. These tires are made to be performance-oriented and tend to have a high replacement rate. Thus, the growing popularity of high-speed cars is expected to drive the demand for rayon tire cord fabrics over the forecast period.

  • Others: The other segment includessteel and aramid-based tire cord fabrics, among others.

By Tire Type

  • Radial Tires:The replacement segment dominated the global tire cord fabrics market in 2019. Radial tires exhibit superior durability, stability, temperature performance, wear resistance compared to the bias tires. The widespread adoption of radial tires in the passenger car application is expected to drive the growth of the radial tires segment in the upcoming period.

  • Bias Tires:The bias tires segment is expected to grow at a robust pace over the forecast period. Bias tires are highly suitable for rough terrain and exhibit a superior ability to carry heavy loads. As a result, thecontinued preference for bias tires in commercial vehicles application is expected to propel segment growth.

By Vehicle Type

  • Passenger cars:The passenger car segment is expected to dominate the global tire cord market throughout the forecast period. Rising demand for passenger vehicles in emerging economies of India, China, Indonesia, and Brazil are expected to provide a significant boost to the demand for passenger car tires over the forecast period.

  • Commercial Vehicles: The commercial vehicles segment is expected to grow at a healthy pace over the forecast period. The emergence of the E-commerce industry has provided a major impetus to the demand for light commercial vehicles (LCV) to ensure last-mile deliveries. The continued growth of the e-commerce sector is expected to impact the segment in the future positively.

  • Others: The other segment includes aircraft, electric vehicles, motorbikes, and high-performance bicycles.

By Application

  • OEM:OEM segment is expected to grow at asignificant pace over the forecast period. Growing demand for passenger cars and electric vehicles is expected to be the primary factor driving the market growth.

  • Replacement: The demand from commercial vehicles mainly drives the replacement segment growth. Commercial vehicles carry heavier loads over longer distances and thus exhibit more wear ratio than passenger vehicles.

By Region

  • North America

  • Europe

  • Asia-Pacific

  • Latin America

  • Middle East & Africa

Regional Analysis

  • North America:The electric vehicle tires exhibit a significantly higher wear-out rate than the normal passenger vehicles. The growing adoption of electric vehicles in the North American region is expected to be one of the major factors driving the North American tire cord fabrics market. Various national and state governments in the region are providing incentives to increase the penetration of electric vehicles in the region. For instance, the Province of British Colombia in Canada provides up to USD 2,500 rebate on the purchase of a plug-in electric vehicle.

  • Europe:The adoption of strict fuel efficiency and emissioncontrolnorms is expected to drive the demand for durable, lightweight radial tires in the region.Additionally, the presence of a well-established automotive industry in Germany and France is expected to boost the product demand significantly.

  • Asia-Pacific:Asia Pacific region held the largest market share, over 45%, in 2019 and is projected to retain its leading position during the forecast period. The presence of a sizeable vehicular population and local availability of natural rubber,a key raw material required for tire production, have been the two factors that led the Asia Pacific region to emerge as a global tire production hub.

  • Latin America:A significant but low growth market owing to the economic slowdown in the key economies of Brazil, Argentina, and Chile.

  • Middle East & Africa:The Middle East & Africa region is expected to grow at a robust pace over the forecast period.An expected rise in per capita income is projected to drive the demand for passenger cars and thereby demand for tire and tire cord fabrics in the future.

Key Players

  • Indorama Ventures Public Company Limited

  • Kolon Industries Inc.

  • SRF Ltd.

  • Teijin Ltd.

  • Century Enka Limited

  • Toray Hybrid Cord, Inc

  • KORDÁRNA Plus a.s.

  • Hyosung Corporation

  • Madura Industrial Textiles Ltd.

  • Cordenka GmbH & Co KG

  • Firestone Fibers & Textiles

  • Shenma Industrial Co., Ltd.

  • Milliken & Company

  • JunmaTyre Cord Company Limited

  • Sohrab Group