This report provides exclusive insights into the COVID-19 impact on the Tire Cord and Tire Fabrics Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Tire Cord and Tire Fabrics Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Tire Cord and Tire Fabrics Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on tire cord and tire fabrics market provides an in-depth analysis of segments and sub-segments in the global as well as regional tire cord and tire fabrics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional tire cord and tire fabrics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global tire cord and tire fabrics market. According to the report, the global tire cord and tire fabrics market is projected to grow at a CAGR of 4.5% over the forecast period of 2018-2024.
Tire cord fabrics are designed to retain tires in shape as
well as it supports vehicle weight that has a significant impact on the
performance of a tire. The tire cord fabrics are available in different types
such as Nylon tire cord fabrics (NTCF); Polyester tire cords fabrics (PTCF),
chafer fabrics, and cycle tire cord fabrics. Further, the tire cord fabric can
be comprised of two types one of them is warp cords that are oriented in the
longitudinal direction while another one is weft yarns that are oriented in the
lateral direction. Polyester tire cord gives high dimensional stability,
excellent heat resistance, few flat spots, and controllability. This is mainly
used in radial tires for passenger cars while hybrid tire cord made by
combining more than two materials used in premium tires that gives optimal
Rising demand for degradable tire materials drives the
growth of tire cord and tire fabrics market. As the degradable cords and tires
are strong as compared with the synthetic ones the demand for consumption has
increased in the manufacturing industry. They can also be reused. Furthermore,
growth in the sales of automobiles owing to stability, effectiveness, and
variety of materials that are used in the automotive tires fuels the growth of
tire cord and tire fabrics market. Moreover, raising awareness for biodegradable
products to reduce pollution boosts the growth of tire cord and tire fabrics
market. However, low demand for automobiles in some countries owing to economic
slowdown hampers the growth of tire cord and tire fabrics market. Rising demand
for biobased and environmentally sustainable alternatives to traditional tire
cord materials are providing beneficial opportunities for tire cord and tire
Among the geographies, Asia Pacific dominates the tire cord
and tire fabrics market followed by North America. The growth in Asia
Pacific region is due to the high demand in automotive sales for personal
vehicles as well as commercial vehicles in the region. The upsurge in the
middle-class population in China and India has extensively contributed to the
soaring demand for a car in the Asia Pacific region. Increasing middle-class
population, predominantly in China and India, have encouraged European and
American car manufacturers including Mercedes-Benz, Audi, and BMW to enter the
Asian market with small cars, designed specially to meet the requirements of
this region. Specific types of tire cord and tire fabric materials are used in
specific regions such as polyester tire cords are highly used in North America
and Europe. The sales of the automobiles in the North American region is
anticipated to reach 10-12 million units at the end of 2024. Moreover, In North
America and Europe, the region rate of radicalization of tires is increasing
rapidly that in turn is fuelling the growth of tire cord and tire fabrics
market in these regions.
The report on global tire cord and tire fabrics market covers segments such as vehicle type, application, and product. On the basis of vehicle type, the sub-markets include off-road vehicles, light commercial vehicles, bicycles, two-wheelers, personal vehicles, and other vehicle types. On the basis of application, the sub-markets include bias tire, radial tire, and other applications. On the basis of product, the sub-markets include polyester, nylon dipped, rayon, steel, and other products.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in this region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China.
The report provides profiles of the companies in the market such as HYOSUNG Corporation, Kolon Industries, Inc., Tokusen Inc, KORDÁRNA Plus AS, Kordsa Teknik Tekstil A.Ş., Firestone Fibers & Textiles Company, SRF Limited, FORMOSA TAFFETA CO.,LTD, Century Enka Limited., and Shandong Helon Polytex Chemical Fibre Co.,Ltd.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of tire cord and tire fabrics market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.