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Tire Cord Fabrics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Tire Cord Fabrics Market Growth and it is segmented by Fiber (Nylon, Viscose Rayon, Polyester, Aramid, Glass, and PVA), Tire Type (Diagonal Tire, Semi Radial Tire, and Radial Tire), Application (Automotive, Aircrafts, Industrial Products, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

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Tire Cord Fabrics Market Size

Tire Cord Fabrics Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 5.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Tire Cord Fabrics Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Tire Cord Fabrics Market with other markets in Chemicals & Materials Industry

Plastics, Polymers, and Elastomers

Adhesives and Sealants

Commodity Chemicals

Water and Wastewater Treatment

Advanced Materials

Construction Chemicals and Materials

Tire Cord Fabrics Market Analysis

The tire cord fabrics market is expected to grow at a CAGR of over 5% during the forecast period. Major factor driving the market studied is growing demand of tire cord fabrics from automotive. On the flip side, volatility in raw material price and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.

  • Growing demand of eco-friendly tires from automotive is forecasted to offer various opportunities for the growth of the market over the forecast period.
  • Tire cord fabrics from automotive application is expected to dominate the market studied over the forecast period.
  • Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.

Tire Cord Fabrics Market Trends

This section covers the major market trends shaping the Tire Cord Fabrics Market according to our research experts:

Growing Demand of Tire Cord Fabric from Automotive Sector

  • Tire cord fabric is a type of industrial fabric which is constructed using high tenacity yarns in the warp direction and yarns of negligible resistance in weft direction which is used to hold warn yarns locked in their position.
  • A tire cord coated fabric provides fundamental properties for tyres used in automotive industry such as controlled deformation, high strength, abrasion resistance, etc.
  • Tire cord fabrics are used as reinforcing materials for tires and designed to keep tires in shape and support vehicle weight, having a significant impact on tire performance.
  • Improving road infrastructure and rising disposable income of the middle-class consumers are driving the vehicles market in the developing countries.
  • Hence, owing to the above-mentioned factors, the application of tire cord fabrics from automotive is likely to dominate during the forecast period.
Tire Cord Fabrics Market Trends

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region is expected to dominate the market for tire cord fabrics during the forecast period. The rising demand of tire cord fabrics from automotive and growing application in industrial sector in countries like China, Japan and India is expected to drive the demand for tire cord fabrics in this region.
  • The largest producers of tire cord fabrics are located in Asia-Pacific region. Some of the leading companies in the production of tire cord fabrics are Kolon Industries, Inc, Bekaert , SRF Limited, Indorama Ventures Public Company Limited and HYOSUNG ADVANCED MATERIALS among others.
  • Additionally, the demand for commercial vehicles has been continually increasing owing to the growing e-commerce (resulting in growth in the logistics industry), construction, and mining industries.
  • Overall India domestic automobiles sales increased at 6.71% CAGR between FY13-19 with 26.27 million vehicles getting sold in FY19.
  • Increasing civil aircraft fleet steadily boosts the demand of tire cord fabric in China. Moreover, in the next 20 years, the Chinese airline companies are planning to purchase about 7,690 new aircraft, which are valued at about USD 1.2 trillion.
  • Owing to the above-mentioned factors, the market for tire cord fabrics in the Asia-Pacific region is projected to grow significantly during the study period.
Tire Cord Fabrics Market Analysis

Tire Cord Fabrics Industry Overview

The global tire cord fabrics market is partially fragmented in nature with only few major players dominating the market. Some of the major companies are Kolon Industries, Inc, Bekaert , SRF Limited, Indorama Ventures Public Company Limited and HYOSUNG ADVANCED MATERIALS among others.

Tire Cord Fabrics Market Leaders

  1. Indorama Ventures Public Company Limited

  2. Kolon Industries, Inc

  3. SRF Limited

  4. Bekaert

  5. HYOSUNG ADVANCED MATERIALS.

*Disclaimer: Major Players sorted in no particular order

Indorama Ventures Public Company Limited, Kolon Industries, Inc, SRF Limited, Bekaert, HYOSUNG ADVANCED MATERIALS.
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Tire Cord Fabrics Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand of Tire Cord Fabrics from Automotive Sector

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Volatility in Raw Material Price

      2. 4.2.2 Fluctuating Growth of Automotive Sector

      3. 4.2.3 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Fiber

      1. 5.1.1 Nylon

      2. 5.1.2 Viscose Rayon

      3. 5.1.3 Polyester

      4. 5.1.4 Aramid

      5. 5.1.5 Glass

      6. 5.1.6 PVA

    2. 5.2 Tire Type

      1. 5.2.1 Diagonal Tire

      2. 5.2.2 Semi Radial Tire

      3. 5.2.3 Radial Tire

    3. 5.3 Application

      1. 5.3.1 Automotive

      2. 5.3.2 Aircrafts

      3. 5.3.3 Industrial Products

      4. 5.3.4 Others

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Bekaert

      2. 6.4.2 Century Enka Limited

      3. 6.4.3 Cordenka GmbH & Co KG

      4. 6.4.4 Far Eastern Group

      5. 6.4.5 Firestone Fibers & Textiles

      6. 6.4.6 HYOSUNG ADVANCED MATERIALS

      7. 6.4.7 Indorama Ventures Public Company Limited

      8. 6.4.8 Kolon Industries, Inc.

      9. 6.4.9 KORDRNA Plus a.s

      10. 6.4.10 Milliken & Company

      11. 6.4.11 SRF Limited

      12. 6.4.12 TEIJIN LIMITED

      13. 6.4.13 TORAY INDUSTRIES, INC

    5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Demand of Eco Friendly Tires from Automotive

    2. 7.2 Other Opportunities

**Subject to Availability
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Tire Cord Fabrics Industry Segmentation

The tire cord fabrics market report includes:

Fiber
Nylon
Viscose Rayon
Polyester
Aramid
Glass
PVA
Tire Type
Diagonal Tire
Semi Radial Tire
Radial Tire
Application
Automotive
Aircrafts
Industrial Products
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Tire Cord Fabrics Market Research FAQs

The Tire Cord Fabrics Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Indorama Ventures Public Company Limited, Kolon Industries, Inc, SRF Limited, Bekaert and HYOSUNG ADVANCED MATERIALS. are the major companies operating in the Tire Cord Fabrics Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Tire Cord Fabrics Market.

The report covers the Tire Cord Fabrics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Tire Cord Fabrics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Tire Cord Fabrics Industry Report

Statistics for the 2024 Tire Cord Fabrics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Tire Cord Fabrics analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Tire Cord Fabrics Market Report Snapshots

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Tire Cord Fabrics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)