Global Tire Cord Fabrics Market Drivers, Trends And Restraints For 2022-2031
The Business Research Company’s Tire Cord Fabrics Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON , UK, September 30, 2022 /EINPresswire.com/ -- As per The Business Research Company's "Tire Cord Fabrics Global Market Report 2022”, the tire cord fabrics market size is expected to grow from $5.17 billion in 2021 to $5.40 billion in 2022 at a compound annual growth rate (CAGR) of 4.51%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global tire cord fabric market size is expected to reach $6.54 billion in 2026 at a CAGR of 4.88%. The increasing production of automobiles is significantly driving the growth of the tire cord fabrics market.
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Key Trends In The Tire Cord Fabrics Market
The rise in the focus for developing more eco-friendly tires is a key trend gaining popularity in the tire cord fabrics market. The major players in the tire cord fabric market are focusing on developing sustainable tire cord fabrics for eco-friendly tires through partnerships and product launches. For instance, in February 2020, Kordsa, a Turkey based tire and construction reinforcement manufacturer, and Continental, a Germany based automotive parts manufacturing company collaborated to launch the First Series Tires with Cokoon Dip Technology that uses resorcinol and formaldehyde-free adhesion. Tire cord manufacturers and the sustainable supply chain benefit from the replacement of resorcinol and formaldehyde with new environmentally friendly alternatives, which makes it possible to bond textiles to rubber without using these two substances, and the technology does not require any changes to the process equipment.
Overview Of The Tire Cord Fabrics Market
The tire cord fabrics market consists of the sales of tire cord fabrics by entities (organizations, partnerships, and sole proprietors) that are designed to keep tires in shape, support vehicle weight and enhance durability of tires. Tire cord fabrics are used as reinforcing materials for tires and are treated with a coating mixture that makes it easier to absorb rubber impregnation and become a part of a rubber tire.
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Tire Cord Fabrics Global Market Report 2022 from TBRC covers the following information:
Market Size Data
• Forecast period: Historical and Future
• By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Market Segmentation
• By Material: Nylon, Polyester, Rayon, Others
• By Vehicle Type: HCV, LCV, Passenger Cars, Off-Road Vehicles and Two-Wheelers
• By Tire Type: Radial, Bias
• By Application: Automotive, Aircrafts, Industrial Products, Others
• By Geography: The global tire cord fabrics market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America holds the largest share in the market.
Major market players such as Indorama Ventures Company Limited, Kolon Industries, Hyosung Corporation, SRF Ltd., Kordsa Global, Teijin Ltd, Century Enka Limited, Toray Hybrid Cord, Bekaert Corporation, Cordenka GmbH & Co. KG, Firestone Fibers & Textile Company, Shenma Indstrial Co. Ltd, Far Eastern Group, Teijin Aramid B.V., Hyosung Advanced Materials, Tokusen U.S.A., Asahi Kasei Corporation, Baygold Group Ltd., Colmant Coated Fabrics, Formosa Taffeta Co., Ltd., Glanzstoff Textilcord, Hanoi Industrial Textile Jsc, and Henan Hengxing Science & Technology Co.
Trends, opportunities, strategies and so much more.
Tire Cord Fabrics Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides an overview of tire cord fabrics market. The market report analyzes tire cord fabrics market size, tire cord fabrics global market growth drivers, tire cord fabrics global market segments, tire cord fabrics global market major players, tire cord fabrics global market growth across geographies, and tire cord fabrics market competitors’ revenues and market positioning. The tire cord fabrics market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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