Tire Cord Fabrics Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Tire Cord Fabrics Market Analysis

The Tire Cord Fabrics Market is expected to register a CAGR of greater than 5% during the forecast period.

The tire cord fabrics industry is experiencing significant transformation driven by robust growth in global vehicle production, which reached 93.54 million units in 2023, marking a substantial increase of 10.26% compared to 2022. This surge in automotive manufacturing has catalyzed innovations in tire reinforcement materials technologies, with manufacturers focusing on developing advanced materials that offer superior strength, durability, and performance characteristics. The industry is witnessing a shift towards lightweight materials and sustainable manufacturing practices, as automotive manufacturers increasingly prioritize fuel efficiency and environmental sustainability in their production processes.

The aerospace sector is emerging as a crucial growth catalyst for specialized tire cord fabrics, with Boeing's Commercial Market Outlook 2023-2042 projecting demand for 48,575 new commercial jets by 2042. This long-term growth trajectory in commercial aviation is driving manufacturers to develop high-performance tire cord fabrics capable of withstanding extreme conditions and meeting stringent safety requirements. The industry is seeing increased investment in research and development of advanced materials that can handle the unique demands of aircraft tires, including high-speed operations and extreme temperature variations.

The electric vehicle (EV) revolution is reshaping the tire cord fabrics market, with EV sales projected to reach 31 million units by 2027 and 74.5 million units by 2035. This transition is driving innovation in tire cord fabric design, as EVs require specialized tires that can handle instant torque and heavier vehicle weights while maintaining optimal rolling resistance for maximum range. In March 2024, a significant industry advancement occurred when SK Chemicals, Hyosung Advanced Materials, and Hankook Tire collaborated to develop the 'iON' EV-exclusive tire incorporating circular recycled PET fiber tire cords.

The industry is witnessing substantial investments in manufacturing capacity and technological advancement, exemplified by Sumitomo Rubber Industries' September 2023 announcement of a USD 200 million investment in their Brazil factory expansion. This trend towards manufacturing modernization is accompanied by an increasing focus on sustainable production methods, as evidenced by Formosa Taffeta's September 2023 launch of Etycord, an eco-friendly tire cord fabric designed for bicycle tire production. These developments reflect the industry's commitment to meeting growing demand while addressing environmental concerns through innovative solutions and sustainable manufacturing practices.

Tire Cord Fabrics Market Trends

Growing Demand for Tire Cord Fabrics from the Automotive Sector

The automotive industry's robust growth continues to be a primary driver for tire cord fabrics demand, with global vehicle production reaching 93.54 million units in 2023, representing a significant increase of 10.26% compared to 2022. Tire cord fabrics play a vital role in automotive tires by providing essential properties such as controlled deformation, high tensile strength, and superior resistance to wear and abrasion. These reinforcement materials are crucial for maintaining tire shape, supporting vehicle weight, and ensuring optimal performance across various vehicle categories, including passenger cars, commercial vehicles, and two-wheelers. The transition toward electric vehicles (EVs) is further amplifying the demand for specialized tire cord fabrics, as EVs require tires with unique performance characteristics due to their instant torque generation and higher average weight.

The automotive sector's evolution toward electrification is creating new opportunities for tire cord fabric manufacturers, with global EV sales projected to reach 31 million units by 2027 and 74.5 million units by 2035. This transition is particularly significant for tire cord fabric demand as electric vehicles tend to wear tires approximately 30% faster than traditional internal combustion engine vehicles due to their instant torque generation capabilities. Major automotive manufacturers are making substantial investments in EV production, exemplified by Honda's commitment of USD 3.4 billion toward its electric motorcycle business through 2030, with plans to introduce 30 new electric motorbike models. These developments, coupled with improving road infrastructure and rising disposable income in developing countries, are creating sustained demand for vehicles and, consequently, tire cord fabrics.

Rise in Demand for Tire Replacement in Vehicles

The replacement tire market represents a substantial and growing driver for tire cord fabric demand, as evidenced by the US Tire Manufacturing Association's report of 334.2 million tire unit shipments in 2023, including 215.8 million units for passenger car tire replacements and 63.1 million units for light truck and truck tire replacements combined. Tire replacement demand is driven by various factors, including regular wear and tear, safety requirements, and the increasing average age of vehicles on the road. The replacement cycle has become more frequent due to factors such as harsh road conditions, changing weather patterns, and the growing emphasis on vehicle safety and performance optimization. Additionally, the rising adoption of high-performance vehicles and premium tires with specific performance requirements is creating demand for advanced tire cord fabrics in the replacement market.

The emergence of electric vehicles is creating new dynamics in the tire replacement market, as these vehicles require more frequent tire replacements due to their higher torque characteristics and increased weight from battery systems. This trend is complemented by the growing consumer awareness about tire safety and performance, leading to more regular tire replacements before reaching critical wear levels. Major tire manufacturers are responding to these trends by developing specialized tires with advanced cord fabric configurations, particularly for electric vehicles. For instance, in March 2024, SK Chemicals, Hyosung Advanced Materials, and Hankook Tire collaborated to develop the 'iON' tire specifically for electric vehicles, incorporating innovative tire cord technologies to meet the unique requirements of EVs while addressing sustainability concerns through the use of recycled materials.

Segment Analysis: By Fiber

Polyester Segment in Tire Cord Fabrics Market

The polyester tire cord segment dominates the global tire cord fabrics market, accounting for approximately 45% of the market share in 2024. Polyester tire cord fabrics have gained significant prominence due to their exceptional dimensional stability and adhesion properties, making them particularly suitable for reinforcing passenger car and light truck tires. These materials are extensively utilized in radial tires and high-speed tires for various applications, including passenger vehicles and light commercial vehicles. The segment's dominance is further strengthened by polyester's superior properties such as high tensile strength, outstanding dimensional stability, and excellent bearing performance, which contribute significantly to tire performance and durability. Major tire manufacturers globally have increasingly adopted polyester tire cord fabrics due to their cost-effectiveness and consistent performance characteristics, particularly in the growing electric vehicle segment where tire performance requirements are more demanding.

Growth Trajectory of Polyester Segment in Tire Cord Fabrics Market

The polyester segment is projected to maintain its growth momentum, exhibiting the highest CAGR of approximately 3% during the forecast period 2024-2029. This growth is primarily driven by the increasing adoption of radial tires in developing economies and the rising demand for high-performance tires in the automotive sector. The segment's expansion is further supported by technological advancements in tire fabric manufacturing, leading to enhanced product qualities and performance characteristics. The growing emphasis on fuel efficiency and vehicle performance has led to increased demand for lightweight and durable tire materials, where polyester tire cords excel. Additionally, the segment's growth is bolstered by the expanding electric vehicle market, which requires specialized tire solutions that can handle the unique torque and weight characteristics of EVs, making polyester tire cords an ideal choice for manufacturers.

Remaining Segments in Tire Cord Fabrics Market

The other significant segments in the tire cord fabrics market include nylon tire cord, rayon tire cord, aramid, and other specialized materials. Nylon tire cord fabrics, particularly Nylon 6 and Nylon 6,6 variants, continue to maintain a strong presence in the market, especially in heavy-duty applications and bias tires. Rayon tire cord fabrics have carved out a niche in high-performance and ultra-high-speed tire applications, particularly in the premium vehicle segment. Aramid fiber cords, known for their exceptional strength and heat resistance, are predominantly used in ultra-high-performance tires for sports and racing applications. The remaining specialized materials, including glass, PVA, and hybrid combinations, serve specific niche applications where unique performance characteristics are required, contributing to the overall diversity and technological advancement of the tire cord fabrics market.

Segment Analysis: Tire Type

Radial Tire Segment in Tire Cord Fabrics Market

The radial tire segment dominates the global tire cord fabrics market, commanding approximately 58% of the market share in 2024. Radial tires have become increasingly popular due to their superior performance characteristics, including better steering, improved road contact, and enhanced fuel efficiency due to lower rolling resistance. These tires generate less heat at high speeds compared to other tire types, making them ideal for modern vehicles requiring high-performance capabilities. The segment's dominance is further reinforced by its projected strong growth rate of around 3% from 2024 to 2029, driven by increasing adoption in passenger vehicles and light commercial vehicles. Radial tires are particularly preferred for high-speed driving applications as they provide smoother rides and better grip on the road, offering improved handling and stability. The segment's growth is also supported by major tire manufacturers increasingly focusing on radial tire production to meet the growing demand from the automotive sector, particularly in regions with developing automotive industries.

Diagonal (Bias) Tire Segment in Tire Cord Fabrics Market

The diagonal tire segment, also known as the bias tire segment, holds a significant position in the tire cord fabrics market, particularly in specific applications where their unique properties are advantageous. These tires offer various benefits such as enhanced operator comfort and superior load-bearing capabilities, making them particularly effective for machinery in ports and terminals. Diagonal tires are constructed with casing layers using nylon cords, typically placed diagonally across each other in the tread and sidewalls at approximately 55 degrees. This construction provides increased vehicle stability and higher resistance against sidewall damage, making them suitable for older vehicles and off-road applications. The segment continues to maintain its relevance in specific sectors such as agricultural vehicles, construction equipment, and certain vintage or classic vehicles where their robust construction and durability characteristics are particularly valued. Despite facing competition from radial tires in modern vehicle applications, diagonal tires maintain their importance in specialized applications where their unique structural benefits outweigh their limitations.

Segment Analysis: By Application

Automotive Segment in Tire Cord Fabrics Market

The automotive segment dominates the global tire cord fabrics market, accounting for approximately 88% of the total market volume in 2024, equivalent to 1,371.56 kilotons. This segment is also projected to witness the highest growth rate of around 3% during 2024-2029. The segment's dominance is primarily attributed to the increasing demand from passenger vehicles, commercial vehicles, and the growing electric vehicle sector. Tire cord fabrics play a vital role in automotive tires by providing resistance to wear and abrasion while contributing to an expanded lifespan. The material enhances impact resistance, reducing the risk of damage from road hazards, and provides essential support to the tire's tread, helping to resist wear and maintain a consistent contact patch with the road surface. The growth in this segment is further supported by the rising global automotive production, with major manufacturers expanding their production capacities and investing in new manufacturing facilities across various regions.

Remaining Segments in Tire Cord Fabrics Market by Application

The aircraft, industrial products, and other applications segments collectively represent important niches in the tire cord fabrics market. The aircraft segment serves the aviation industry's specific requirements for high-performance tires that can withstand extreme operating conditions and heavy loads during takeoff and landing. The industrial products segment caters to various equipment and machinery applications in mining, agriculture, and construction sectors, where tire cord fabrics are essential for manufacturing off-the-road tires that operate on uneven surfaces and tough terrain. The other applications segment includes specialized uses such as two-wheelers and three-wheelers, where tire cord fabrics contribute to tire performance and durability. These segments benefit from ongoing technological advancements in tire cord fabric manufacturing and the increasing focus on developing specialized solutions for specific end-use applications.

Tire Cord Fabrics Market Geography Segment Analysis

Tire Cord Fabrics Market in Asia Pacific

The Asia Pacific region represents the largest tire cord fabrics market globally, driven by significant growth in automotive manufacturing and increasing demand across various end-use industries. The region's dominance is supported by the presence of major tire manufacturers, extensive automotive production facilities, and growing industrialization across countries like China, India, Japan, and South Korea. Countries such as Malaysia, Thailand, Indonesia, and Vietnam are also contributing significantly to market growth through their expanding automotive and industrial sectors.

Tire Cord Fabrics Market in China

China dominates the Asia Pacific tire cord fabrics market, holding approximately 48% of the regional market share in 2024. The country's market leadership is driven by its position as the world's largest automotive manufacturer and the presence of numerous tire manufacturing facilities. The automotive industry in China continues to evolve with significant investments in electric vehicle production and expanding tire manufacturing capabilities. The country's robust supply chain infrastructure and strategic initiatives to boost domestic manufacturing have further strengthened its position in the tire cord fabrics market.

Tire Cord Fabrics Market in India

India emerges as the fastest-growing market in the Asia Pacific region, with a projected growth rate of approximately 4% during 2024-2029. The country's growth is fueled by increasing investments in automotive manufacturing, rising domestic demand for vehicles, and government initiatives promoting local manufacturing. India's tire industry is experiencing significant expansion with multiple tire manufacturers establishing new production facilities and expanding existing ones. The country's focus on electric vehicle manufacturing and infrastructure development is expected to further drive the demand for tire cord fabrics.

Tire Cord Fabrics Market in North America

The North American tire cord fabrics market is characterized by advanced manufacturing capabilities, a strong presence of automotive OEMs, and significant technological innovations. The region benefits from robust research and development activities, particularly in sustainable and high-performance tire materials. The market dynamics are influenced by the presence of major tire manufacturers and the growing demand for electric vehicles across the United States, Canada, and Mexico.

Tire Cord Fabrics Market in United States

The United States leads the North American market, commanding approximately 66% of the regional market share in 2024. The country's dominant position is supported by its large automotive manufacturing base, presence of major tire producers, and continuous technological advancements in tire manufacturing. The US market is characterized by significant investments in research and development, particularly in sustainable tire technologies and electric vehicle-specific tire solutions, which contribute to the overall tire cord fabrics market growth.

Tire Cord Fabrics Market in Canada

Canada represents the fastest-growing market in North America, with an expected growth rate of approximately 5% during 2024-2029. The country's market expansion is driven by increasing automotive production, growing adoption of electric vehicles, and rising demand for high-performance tires. Canada's focus on sustainable manufacturing practices and investments in tire technology innovation are contributing to its rapid market growth, positioning it as a key player in the automotive textile industry.

Tire Cord Fabrics Market in Europe

The European tire cord fabrics market is characterized by its strong focus on technological innovation, sustainable manufacturing practices, and high-quality standards. The region's market is driven by the presence of premium automotive manufacturers and advanced tire production facilities across Germany, the United Kingdom, France, Italy, Spain, Nordic countries, Turkey, and Russia. The market benefits from significant research and development activities in tire technology and materials science, contributing to the overall tire cord fabrics market size.

Tire Cord Fabrics Market in Germany

Germany maintains its position as the largest market for tire cord fabrics in Europe, supported by its robust automotive manufacturing sector and strong presence of premium vehicle manufacturers. The country's leadership is reinforced by its advanced manufacturing capabilities, significant investments in research and development, and strong focus on sustainable tire technologies. German tire manufacturers are at the forefront of developing innovative tire solutions for electric vehicles and high-performance applications, strengthening its role in the technical textile industry.

Tire Cord Fabrics Market in United Kingdom

The United Kingdom emerges as the fastest-growing market in Europe, driven by increasing investments in automotive manufacturing and rising demand for electric vehicles. The country's market growth is supported by ongoing developments in tire technology and manufacturing processes. The UK's focus on sustainable manufacturing practices and the presence of major tire manufacturers contribute to its market expansion.

Tire Cord Fabrics Market in South America

The South American tire cord fabrics market is experiencing steady growth, with Brazil, Argentina, and Colombia being the key markets in the region. Brazil emerges as both the largest and fastest-growing market in South America, driven by its substantial automotive manufacturing base and increasing demand for commercial vehicles. The region's market is characterized by growing investments in tire manufacturing facilities and increasing adoption of radial tires.

Tire Cord Fabrics Market in Middle East & Africa

The Middle East & Africa market demonstrates growing potential in the tire cord fabrics industry, with key markets including Saudi Arabia, Qatar, UAE, Nigeria, Egypt, and South Africa. South Africa represents the largest market in the region, while the UAE shows the fastest growth potential. The region's market is driven by increasing automotive sales, growing industrial activities, and rising investments in tire manufacturing facilities.