Home Press Releases Expanding Automotive Industry in Asia Pacific to Drive Global Tire Cord and Tire Fabrics Market
Expanding Automotive Industry in Asia Pacific to Drive Global Tire Cord and Tire Fabrics Market
In a recent market study from Transparency Market Research (TMR), titled “ Tire Cord and Tire Fabrics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”, the global tire cords and tire fabrics market will reach US$5.06 billion in 2020, increasing from US$3.48 billion in 2013 at a CAGR of 5.5% from 2014 to 2020. The report provides current and forecast demand analysis of tire cord and tire fabric products at both regional and global levels.TMR states that the tire cord and tire fabrics market has a direct and obvious correlation with the state of the automotive industry. Tire cords and tire fabrics are integral reinforcement materials in the manufacture of tires. Tire cord are the backbone of the tire carcass that provides the required safety, stability, and comfort to the vehicle.
Browse the full Tire Cord and Tire Fabrics (Steel, Polyester, Nylon, Rayon and Other Products) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020 report at http://www.transparencymarketresearch.com/tire-cord-tire-fabrics-market.html
Economic growth in emerging countries in Asia Pacific has led to higher personal vehicle ownership, which in turn has benefitted the tire cord and tire fabrics market. Additionally, with the reviving U.S. economy and improved job market, consumer spending is increasing, thus benefitting automobiles and its allied industries. By product type, the tire cord and tire fabrics market is segmented into steel cords, dipped nylon cords, polyester cords, rayon cords, and others (aramid cords, PEN cords, and fiberglass cords).Steel tire cords are the most popular choice due to their advantageous physical properties and extensive application in radial tires. For such reasons, steel cord held more than 55% of the overall tire cord and tire fabrics market in 2013. With the growing popularity of radial tires in Asia Pacific, the market share of steel cords is expected to be on the rise in the coming years.
However, nylon cords are anticipated to witness the fastest growth amongst all tire cord materials. Unfavorable road conditions and burgeoning production of commercial vehicles in Asia Pacific is spurring demand for nylon tire cords.In 2013, Asia Pacific held more than 45% of the global tire cord and tire fabrics market. In the region, high GDP growth, combined with increasing purchasing power in countries such as India, China, Indonesia, and Malaysia, has led to increasing demand for commercial and personal vehicles. This in turn has translated into increasing demand for ancillary products such as tire cords and tire fabrics.North America trails Asia Pacific in the demand for tire cord and fabrics and is followed by Europe. Though Europe is an established base of reputed automobile manufacturers, other regions, particularly Asia Pacific, are the major markets for European automobiles.
In 2012, the Rest of the World region accounted for the smallest market share in the tire cord and tire fabrics market. However, increasing demand for automobiles in the region will be beneficial for the tire cord and tire fabrics market in coming years. The report profiles major companies operating in the global tire cord and tire fabrics market, viz. Bekaert, Kordsa Global, Kolon Industries, Hyosung Corporation, and SRF Ltd.
The report divides the global tire cord and tire fabrics market into the following segments:
Tire Cord and Tire Fabrics Market - Product Segment Analysis
- Others (Including aramid, fiberglass, PEN, etc.)
Tire Cord and Tire Fabrics Market - Regional Analysis
- North America
- Rest of the World
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453
- Solder Paste Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
Solder paste, also known as solder cream is used to connect leads on surface mounted integrated circuit chips to the attachment points on the printed circuit boards, which are commonly used in all electronic devices. It is generally applied as a paste through stencil or dispensing tubes on the leads on printed circuit boards, followed by heating the paste in order for it to melt and fuse the connection. Soldering paste is an extremely important ingredient in the electronic circuit manufacturi...
- Methyl Red Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
Methyl red, which is also known as, C.I. Acid Red 2, is a chemical indicator dye, which turns red when it reacts with acidic solutions. Methyl red also called as an azo dye, is dark red and is found as a crystalline powder. Methyl red is one of the most popular pH indicators used to test pH of various chemical reactions. The indicator turns red under pH 4.4 and yellow over pH 6.2 and turns orange when the pH is in between the two values. Methyl red is soluble in water and in ethanol and has t...
- Ceramic Packing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
Ceramics are ideal material for packing because they are chemically, biologically and electrically inert and may be fabricated with 3-D structures. Ceramic surface of ceramic packing generates thin film, which can promote mixing of liquid and vapor and generate pressure drop at the same time. Ceramic packing cost less than metal packing and provides superior performance and protection of products. Ceramics are excellent electrical insulators and are less costly because the base material can b...