Tire Cord Fabrics Market was valued at US$ 5.86 Bn in 2022 and is expected to reach US$ 8.90 Bn by 2029, at a CAGR of 6.15% during a forecast period.
Tire Cord Fabrics Market Overview:
This study categorises the Tire Cord Fabrics Market in order to anticipate revenues and analyse trends in each of the sub-markets listed below.
The Competition Strategic Window investigates the competition landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their strengths and future growth possibilities.
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Tire Cord Fabrics Market Scope:
The Tire Cord Fabrics Industry research provides readers with a more in-depth insight of the market and competitive landscape, helping them to make better decisions on market growth and expansion. The study includes a participant summary, revenue figures, capital investment, and worldwide Tire Cord Fabrics market growth rates.
Tire Cord Fabrics Market Segmentation:
by Material
Nylon
Polyester
Rayon
Others
by Tire Type
Radial Tires
Bias Tires
by Application
OEM
Replacement
by Vehicle Type
Passenger Cars
Commercial Vehicles
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Tire Cord Fabrics Market Key Players: The key players are
by Material Nylon
Polyester
Rayon
Others
by Tire Type Radial Tires
Bias Tires
by Application OEM
Replacement
by Vehicle Type Passenger Cars
Commercial Vehicles
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Regional Analysis:
The Tire Cord Fabrics market prediction research is created after a thorough examination of many geographical areas, including Asia-Pacific, Europe, North America, and the rest of the globe. North America has the greatest power over the Tire Cord Fabrics market share and will continue to be a major shareholder in the global Tire Cord Fabrics market.
COVID-19 Impact Analysis on Tire Cord Fabrics Market: The COVID-19 impact on the Tire Cord Fabrics market is also included in the report
Key Questions Answered in the Tire Cord Fabrics Market Report are:
- What will be the CAGR of the Tire Cord Fabrics market during the forecast period?
- Which segment emerged as the Tire Cord Fabricsing segment in the Tire Cord Fabrics market?
- Which are the prominent players in the Tire Cord Fabrics market?
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Global Tire Cord Fabrics Market was valued at US$ 4.9Bn in 2019 and is expected to reach US$ 7.9Bn by 2027, at a CAGR of 6.15% during a forecast period.The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters.
Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments.
The growing demand for automotive all over the world, especially in the developing countries of Asia Pacific is likely to fuel the sales of tire cord and tire fabrics.
It meaningfully impacts the prospects for organizations production in tire cords and fabrics deal.The market experts are putting their bets on these nations.
The rise in the middle-class population in China and India has extensively contributed in the soaring demand for car in Asia Pacific, which makes the region the most appealing market for tire cord and tire fabrics.Based on application segment,the replacement segment is estimated to hold largest market share during forecast period.
Hence, replacement tires are a suitable choice for better performance and improved durability.
According to Stratistics MRC, the Global Tire Cord Fabrics Market is accounted for $4.15 billion in 2017 and is expected to reach $7.89 billion by 2026 growing at a CAGR of 7.4% during the forecast period.
Rise in vehicle usage and growth in the awareness for biodegradable products are some of the factors propelling the market growth.
However, fluctuating raw material prices is hindering the market growth.Tire cord fabric is an industrial grade fabric that is manufactured through the use of high persistence yarns.
It play the role of reinforcing materials in automotive and vehicle tires and are designed and used in a way that helps sustain the shape of tires, while concurrently following vehicle weight.
Tire cord fabrics impart critical performance related qualities to the tires such as abrasion resistance, increased strength, and deformation control.Based on Material Type, Nylon segment has witnessed the considerable growth during the forecast period due to its capability to offer high strength, tenacity, robustness, relatively superior fatigue resistance, and good adhesion to rubber.
By geography, Asia Pacific holds the highest market growth during the forecast period due to rising passenger vehicle production in China and India.
