ID: MRFR/CnM/9063-HCR | February 2023 | Region: Global | 180 Pages
The Tire Cord Fabrics Market is projected to register a CAGR of 3.9% to reach USD 7,923.5 million by the end of 2027.
$7,923.5 million
3.9%
Asia-Pacific
2020-2027
According to MRFR analysis, the 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
Market Restraints
Segmentation
By Material
By Tire Type
By Vehicle Type
By Application
By Region
Regional Analysis
Key Players
Report Attribute/Metric | Details |
---|---|
Market Size |
|
CAGR | 3.9% (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022 to 2030 |
Historical Data | 2019 & 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Material, Tire Type, Vehicle Type, Application, and Region |
Geographies Covered | North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. |
Key Vendors | 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 |
Key Market Opportunities | They are widely used in the production of passenger car radial tires |
Key Market Drivers |
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Tire Cord Fabrics Market is predicted to grow at 3.9% through forecast period of 2020-2027.
The forecast period for Tire Cord Fabrics Market research report is 2020-2027.
Tire Cord Fabrics Market is dominated by North America region.
The major players are 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