Tire cords are reinforcing materials used to provide dimensional stability to tires hence their demand corresponds directly to the expansion of the automotive industry. The global tire cords and fabrics market therefore gains substantial impetus from the rising demand for vehicles across diverse sectors. Being home to emerging middle-class population, the demand for automotive is comparatively higher in developing economies. On the flip side, the sale of automotive plunged considerably during economic slowdown in major developed countries. However, Transparency Market Research (TMR) expects it to gain momentum with fresh demand for tire fabrics and cords, post economic revival of the U.S.

Bolstered by economic rebound, the sale of commercial vehicles and passenger vehicles surged across developed nation, thus boosting the global tire cord and tire fabrics market at 4.9% CAGR between 2015 and 2023. As per TMR analysis, the market, which stood at US$4.14 bn in 2015, is expected to reach US$6.37 bn by the end of 2023.

Rising Demand for Automotive Seals Asia Pacific’s Position as Dominant Regional Market

Regionally, Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa have emerged as the most lucrative markets for tire cords and tire fabrics. Among these regions, Asia Pacific accounted for the largest share in the global tire cord and tire fabrics market in 2014. Furthermore, healthy growth reported by the two-wheelers and automotive markets in the region will seal Asia Pacific’s dominance in the market even during the forecast period.

As per TMR, the Asia Pacific tire cord and tire fabrics market is expected to surge at a CAGR of 5.4% during the forecast period. India, China, and Japan are expected to exhibit the most lucrative opportunities for vendors of tire cord and tire fabrics in the region. The Asia Pacific tire cord and fabrics market is expected to reach US$3,472.4 mn in 2023 from US$2,168.2 mn in 2014. During the same period, the market is projected to exhibit a CAGR of 4.7% based on volume.

 

tire-cord-and-tire-fabrics-market

 

Prospects for Market in North America to Remain Lucrative Through Forecast Period

In 2014, North America emerged as the second-largest market for tire cord and fabrics. The U.S. accounted for the largest market share in North America, trailed by Mexico and Canada. Growth in sales witnessed in the region is significantly aided by the increasing demand for cross-over light duty trucks and large cars. The expansion of the personal vehicle segment in North America also contributed in positively influencing the tire cord and fabric sales in the region.

Europe accounted for the third-largest share in the overall market in 2014. Demand for tire cord and fabrics is steadily rising in Germany, Italy, France, Spain, and the U.K. Akin to North America, Europe has been successful in achieving an increasing radialization of tires. This has augured well for steel and polyester tire cords despite the overall slow growth rate exhibited by the region’s automotive industry.

Demand for Better Efficiency Driving Steel Tire Cord Segment

By product, the steel segment emerged dominant in the market. As per TMR, the segment held over 58% of the overall tire cord and tire fabrics market in 2014. The steel segment is expected to maintain its dominance in the market through the forecast period. Besides this, the usage of polyester tire cord and tire fabrics is also expected to rise in tire manufacturing. During the forecast period, the demand for nylon tire cords is also expected to increase.

As radial tires replace bias and cross-ply tires, demand for the steel tire cord segment is expected to increase in response. Radial tires have flexible sidewalls and ensures lesser fuel consumption by reducing rolling resistance, thus extending longevity of tires by producing lesser heat. These factors considerably contribute in boosting sales from the segment.

Some of the most prominent companies operating in the global tire cord and fabrics market include Kordarna Plus A.S., Hyosung Corporation, Cordenka GmbH & Co. KG, SRF Ltd., Kolon Industries, Kordsa Global, and Tokusen USA.

Rise in Passenger Vehicle Sales due to Urbanization to Indirectly Contribute to Growth in Tire Cord and Tire Fabric Market

The automobile industry is observing extensive prospects and has made large strides over the years. Tires form an important component of any vehicle and hence, the parts related to the tires have a crucial role in the overall functioning of a vehicle. The tire cords and tire fabrics are one of them. Thus, based on these factors the tire cord and tire fabric market is estimated to gain a good growth-share across the assessment period of 2013-2023.

  • Tire cords and tire fabrics are types of fabrics created using superior quality yarns. Properties of the cords and fabrics such as great tensile strength, excellent abrasion resistance, and controlled deformation will bring exponential growth opportunities for the tire cord and tire fabric market.
  • The concerns about environmental conservation are rising at a rapid rate across the globe. The materials used in the production of tire cord and tire fabrics can harm the environment to a considerable extent. Manufacturers in the tire cord and tire fabric market are focusing on developing the fabrics and cords from eco-friendly and bio-based materials due to a rise in the awareness among a large populace for using such materials. These aspects will help in increasing the growth rate.
  • Strategic collaborations form a major chunk of the growth cycle of the tire cord and tire fabric market. The players indulge in these activities for expanding their influence across the market, eventually resulting in boosting the growth prospects.
  • Rising urbanization levels have led to an increase in the demand for cars in the personal use segment. This factor will bode well for the growth of the tire cord and tire fabric market. The COVID-19 pandemic ruined the growth of the tire cord and tire fabric market to a great extent but the relaxations in the lockdown restrictions by numerous countries will serve as a boon for the tire cord and tire fabric market.

Table of Contents

Chapter 1 Preface

  • Report Description
  • Research Scope
  • Assumptions
  • Market Segmentation
  • Research Methodology

Chapter 2 Executive Summary

  • Global Tire Cord and Tire Fabrics Market, 2014 - 2025, (Kilo Tons) (US$ Mn)
  • Tire Cord and Tire Fabrics: Market Snapshot 

Chapter 3 Tire Cord and Tire Fabrics Market– Industry Analysis

  • Introduction
  • Value Chain Analysis
  • Market Drivers
  • Rising global demand for automotive, especially in Asia Pacific, to propel market for tire cord and tire fabrics
  • Revival of U.S. economy infuses fresh demand for tire cords and tire fabrics, especially steel and polyester tire cords
  • Restraints
  • Sharp decline in automotive demand in Europe lowers market attractiveness in the region
  • Overcapacity in Asia Pacific lowers market profitability
  • Opportunity
  • Hybrid tire cord technology offers potential to revolutionize tire cord market
  • Increasing demand for biobased and environmentally-sustainable alternatives to traditional tire cord materials
  • Porter’s Five Forces Analysis
  • Bargaining Power of Suppliers
  • Bargaining Power of Buyers
  • Threat of New Entrants
  • Threat of Substitutes
  • Degree of Competition
  • Tire Cord and Tire Fabrics: Market Attractiveness Analysis - By Product Segment
  • Tire Cord and Tire Fabrics: Market Attractiveness Analysis - By Country
  • Tire Cord and Tire Fabrics: Company Market Share Analysis, 2014

Chapter 4 Price Trend Analysis
Chapter 5 Tire Cord and Tire Fabrics Market – Product Analysis

  • Tire Cord and Tire Fabrics Market: Product Segement Overview
  • Global Steel Tire Cord and Tire Fabrics Market (Kilo Tons) (US$ Mn), 2013–2023
  • Global Conditioning Polymers Market for Personal Care Ingredients, 2014–2023 (Kilo Tons) (US$ Mn)
  • Global Polyester Tire Cord and Tire Fabrics Market (Kilo Tons) (US$ Mn), 2013–2023
  • Global Nylon Tire Cord and Tire Fabrics Market (Kilo Tons) (US$ Mn), 2013–2023
  • Global Rayon Tire Cord and Tire Fabrics Market (Kilo Tons) (US$ Mn), 2013–2023
  • Global Others Tire Cord and Tire Fabrics Market (Kilo Tons) (US$ Mn), 2013–2023

Chapter 6 Tire Cord and Tire Fabrics Market - Regional Analysis

  • Global Tire Cord and Tire Fabrics Market: Regional Overview
  • North America Tire Cord and Tire Fabrics Market – By Regional Sub-segment, 2014 - 2023
  • North America Tire Cord and Tire Fabrics Market
  • North America Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • North America Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • U.S. Tire Cord and Tire Fabrics Market
  • U.S. Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • U.S. Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • Canada Tire Cord and Tire Fabrics Market
  • Canada Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Canada Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • Mexico Tire Cord and Tire Fabrics Market
  • Mexico Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Mexico Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • Europe Tire Cord and Tire Fabrics Market – By Regional Sub-segment,  2014–2023
  • Europe Tire Cord and Tire Fabrics Market
  • Europe Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Europe Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • Germany Tire Cord and Tire Fabrics Market
  • Germany Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Germany Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • Chapter 6U.K. Tire Cord and Tire Fabrics Market
  • U.K. Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • U.K. Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • France Tire Cord and Tire Fabrics Market
  • France Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • France Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • Italy Tire Cord and Tire Fabrics Market
  • Italy Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Italy Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • Spain Tire Cord and Tire Fabrics Market
  • Spain Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Spain Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • Turkey Tire Cord and Tire Fabrics Market
  • Turkey Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Turkey Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • Rest of Europe Tire Cord and Tire Fabrics Market
  • Rest of Europe Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Rest of Europe Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • Asia Pacific Tire Cord and Tire Fabrics Market – By Regional Sub-segment, 2014–2023
  • Asia Pacific Tire Cord and Tire Fabrics Market
  • Asia Pacific Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023 
  • Asia Pacific Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • China Tire Cord and Tire Fabrics Market
  • China Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • China Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • Japan Tire Cord and Tire Fabrics Market
  • Japan Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Japan Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • India Tire Cord and Tire Fabrics Market
  • India Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • India Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023

Chapter 7 Pakistan Tire Cord and Tire Fabrics Market

  • Pakistan Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Pakistan Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • Indonesia Tire Cord and Tire Fabrics Market
  • Indonesia Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Indonesia Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • Taiwan Tire Cord and Tire Fabrics Market
  • Taiwan Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Taiwan Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • Vietnam Tire Cord and Tire Fabrics Market
  • Vietnam Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Vietnam Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • Rest of Asia Pacific Tire Cord and Tire Fabrics Market
  • Rest of Asia Pacific Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Rest of Asia Pacific Tire Cord and Tire Fabrics Market, Revenue by Product Segment(US$ Mn), 2013–2023
  • Latin America Tire Cord and Tire Fabrics Market – By Regional Sub-segment,  2014–2023
  • Latin America  Tire Cord and Tire Fabrics Market
  • Latin America Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Latin America Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • Brazil Tire Cord and Tire Fabrics Market
  • Brazil Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Brazil Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • Argentina Tire Cord and Tire Fabrics Market
  • Argentina Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Argentina Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • Rest of Latin America Tire Cord and Tire Fabrics Market
  • Rest of Latin America Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Rest of Latin America Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023

Chapter 8 Middle East & Africa (MEA) Tire Cord and Tire Fabrics Market – By  Regional Sub-segment, 2014–2023

  • Middle East & Africa Tire Cord and Tire Fabrics Market
  • Middle East & Africa Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Middle East & Africa Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • GCC Tire Cord and Tire Fabrics Market
  • GCC Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • GCC Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • South Africa Tire Cord and Tire Fabrics Market
  • South Africa Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • South Africa Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
  • Rest of Middle East & Africa Tire Cord and Tire Fabrics Market
  • Rest of Middle East & Africa Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
  • Rest of Middle East & Africa Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023

Chapter 9 Company Profiles

  • Kolon Industries, Inc. 
  • Kordsa Global, Inc. 
  • Hyosung
  • Century Enka Ltd. 
  • SRF Limited
  • Milliken & Company 
  • Firestone Fibers & textile 
  • Cordenka GmbH & Co. KG 
  • KORDÁRNA Plus A.S.
  • TEIJIN LIMITED 
  • Tokusen
  • FORMOSA TAFFETA CO.,LTD 
  • Gajah Tunggal Tbk 

Chapter 10 List of Potential Customers

Chapter 11 Primary Research – Key Findings

 

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Tire Cord And Tire Fabrics Market