Tire Cord Fabrics Market Size (2024 - 2029)

The tire cord fabrics market is anticipated to experience growth driven by the increasing demand from the automotive sector, despite challenges such as raw material price volatility and the impact of the COVID-19 pandemic. The market size is expected to expand, particularly due to the rising interest in eco-friendly tires, which presents new opportunities. The automotive application is projected to lead the market, with the Asia-Pacific region being the largest and fastest-growing area, fueled by heightened consumption in countries like China, India, and Japan.

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Market Size of Tire Cord Fabrics Industry

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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

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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 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 Size Summary

The tire cord fabrics market is poised for significant growth, driven primarily by the increasing demand from the automotive sector. These fabrics, essential for reinforcing tires, offer critical properties such as high strength and abrasion resistance, which are vital for tire performance. The market is experiencing a surge in demand for eco-friendly tires, presenting new opportunities for expansion. However, challenges such as raw material price volatility and the lingering effects of the COVID-19 pandemic pose obstacles to market growth. The automotive application of tire cord fabrics is expected to maintain its dominance, supported by improving road infrastructure and rising disposable incomes in developing regions.

The Asia-Pacific region is anticipated to lead the tire cord fabrics market, both in size and growth rate, due to heightened consumption in countries like China, India, and Japan. This region is home to some of the largest producers of tire cord fabrics, including prominent companies such as Kolon Industries, Inc., Bekaert, and SRF Limited. The demand is further bolstered by the increasing need for commercial vehicles, driven by the expansion of e-commerce, construction, and mining industries. Additionally, the growing civil aircraft fleet in China is expected to contribute to the market's expansion. Despite being partially fragmented, the market is dominated by a few key players, ensuring competitive dynamics.

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Tire Cord Fabrics Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Demand of Tire Cord Fabrics from Automotive Sector

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Volatility in Raw Material Price

      2. 1.2.2 Fluctuating Growth of Automotive Sector

      3. 1.2.3 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Fiber

      1. 2.1.1 Nylon

      2. 2.1.2 Viscose Rayon

      3. 2.1.3 Polyester

      4. 2.1.4 Aramid

      5. 2.1.5 Glass

      6. 2.1.6 PVA

    2. 2.2 Tire Type

      1. 2.2.1 Diagonal Tire

      2. 2.2.2 Semi Radial Tire

      3. 2.2.3 Radial Tire

    3. 2.3 Application

      1. 2.3.1 Automotive

      2. 2.3.2 Aircrafts

      3. 2.3.3 Industrial Products

      4. 2.3.4 Others

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 France

        4. 2.4.3.4 Italy

        5. 2.4.3.5 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle-East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Rest of Middle-East and Africa

Tire Cord Fabrics Market Size 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.

Tire Cord Fabrics Market Report Snapshots

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