Tire Cord Fabrics Market to Grow at a Robust Pace During 2021-2026

Stratview Research has published a new report titled “Tire Cord Fabrics Market” which is segmented by Material Type (Nylon, Polyester, Rayon, and Others), by Tire Type (Radial Tires and Bias Tires), by Application Type (OEM and Replacement), by Vehicle Type (Passenger Cars and Commercial Vehicles), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

As per the study, tire Cord Fabrics Market is likely to witness an impressive CAGR of 5.6% during the forecast period. The major factor contributing to the growth of the market for tire cord fabrics is the increase in demand for vehicles across the globe.

Report Highlights

This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides thorough analysis of the market segments which include products, applications, and competitor analysis.

The market is bifurcated into various segments. Below given is the segment-wise analysis -

Based on the material type, the market is segmented as nylon, polyester, rayon, and others. Owning to the increase in demand for high-strength tire cord fabrics from different types of vehicles such as passenger cars, lightweight vehicles, and heavyweight vehicles, nylon is expected to remain the largest segment of the market during the forecast period.

Based on the tire type, the tire cord fabrics market is segmented as radial and bias. The radial segment accounted for the larger share of the market in 2020, owing to the increasing production of passenger cars. The segment is likely to maintain its dominance during the forecast period as well.

Based on the application type, the market is segmented as OEM and replacement. The replacement segment accounted for the larger share of the market in 2020, driven by the increasing number of vehicles on road and age of vehicles. The segment is expected to lead the market during the forecast period as well.

Which Region is expected to remain the largest market?

In terms of regions, Asia-Pacific is estimated to be the fastest-growing market for tire cord fabrics during the forecast period, owing to the surge in production of cars in the developing economies, such as China, India, and Indonesia. North America and Europe are also expected to offer sizeable growth opportunities during the forecast period.

Who are the Key Players in the Market?

This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen in the Tire Cord Fabrics Market:

• Indorama Ventures Public Company Limited
• Toray Industries Inc.
• Kolon Industries Inc.
• Hyosung Corporation
• SRF Ltd.
• Kordsa Teknik Tekstil A.S.
• Teijin Ltd.
• Cordenka GmbH & Co Kg
• Century Enka Limited
• Firestone Fibers & Textile Company.

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