"In-Depth Study on Executive Summary Tire Cord Market Size and Share

Data Bridge Market Research analyses that the tire cord market was valued at USD 7.76 billion in 2021 and is expected to reach the value of USD 13.53 billion by 2029, at a CAGR of 7.20% during the forecast period of 2022 to 2029.

Tire Cord Market research report contains a key data about the market, emerging trends, product usage, motivating factors for customers and competitors. Tire Cord Market is a detailed market research report that serves this purpose and gives your business a competitive advantage. This excellent market report evaluates the existing state of the market, market size and market share, revenue generated from the product sale, and essential changes required in the future products. The data included in Tire Cord Market report not only lends a hand to plan the investment, advertising, promotion, marketing and sales strategy more valuably but also assists in taking sound and efficient decisions.

A skilful set of analysts, statisticians, research experts, forecasters, and economists work carefully to build this Tire Cord Market research report for the businesses seeking a prospective growth. These parameters mainly include latest trends, market segmentation, new market opening, industry forecasting, target market analysis, future directions, opportunity identification, strategic analysis, insights and innovation. This market research report makes you knowledgeable about strategic analysis of mergers, expansions, acquisitions, partnerships, and investment. Tire Cord Market research analysis lends a hand to businesses for the planning of production, product launches, costing, inventory, purchasing and marketing strategies.

Uncover strategic insights and future opportunities in the Tire Cord Market. Access the complete report: https://www.databridgemarketresearch.com/reports/global-tire-cord-market

Tire Cord Market Landscape

Segments

- By Material Type: Nylon, Polyester, Rayon, Aramid, Others
- By Tire Type: Radial, Bias
- By Application: Passenger Cars, Commercial Vehicles, Two-Wheelers, Off-Road Vehicles, Others
- By Region: North America, Europe, Asia-Pacific, South America, Middle East and Africa

The global tire cord market is segmented based on material type, tire type, application, and region. In terms of material type, the market is categorized into nylon, polyester, rayon, aramid, and others. Nylon is widely used due to its high strength and durability, making it suitable for various applications. Polyester is also a popular choice for tire cord due to its abrasion resistance and low stretch characteristics. Radial and bias are the two main tire types where tire cord is used, with radial tires dominating the market due to their performance advantages. In terms of application, the market is segmented into passenger cars, commercial vehicles, two-wheelers, off-road vehicles, and others, with passenger cars being the major consumer of tire cords. Geographically, North America, Europe, Asia-Pacific, South America, and the Middle East and Africa are the key regions driving the growth of the tire cord market.

Market Players

- Hyosung Corporation
- Kolon Industries, Inc.
- Kordsa Global
- SRF Limited
- Toray Industries, Inc.
- Cordenka GmbH & Co. KG
- Firestone Fibers & Textiles Company
- Teijin Limited
- Junma Tyre Cord Company Limited
- Century Enka
- Milliken & Company

Key market players in the global tire cord industry include Hyosung Corporation, Kolon Industries, Inc., Kordsa Global, SRF Limited, Toray Industries, Inc., Cordenka GmbH & Co. KG, Firestone Fibers & Textiles Company, Teijin Limited, Junma Tyre Cord Company Limited, Century Enka, and Milliken & Company. These companies are actively involved in research and development activities to introduce innovative products and expand their market presence. Partnerships, collaborations, and mergers and acquisitions are also common strategies adopted by these players to strengthen their competitive position in the market. The increasing demand for high-performance tires and the growing automotive industry are propelling the growth of the tire cord market.

The global tire cord market is witnessing significant growth driven by various factors such as the increasing demand for high-performance tires, particularly in the automotive industry. As the automotive sector continues to expand globally, the need for durable and reliable tire cords made from materials like nylon, polyester, rayon, aramid, and others is on the rise. Nylon remains a popular choice due to its exceptional strength and longevity, ensuring that tires can withstand diverse road conditions. Polyester, with its abrasion resistance and low stretch properties, also plays a crucial role in enhancing the performance and longevity of tires. These material types cater to different requirements and preferences of end-users across various applications.

In terms of tire type segmentation, radial tires are dominating the market compared to bias tires, primarily due to their superior performance advantages. Radial tires are known for their better grip, handling, and fuel efficiency, making them a preferred choice for modern vehicles. The market segmentation by application highlights the major consumers of tire cords, with passenger cars leading the demand. Commercial vehicles, two-wheelers, off-road vehicles, and other segments also contribute to the growing consumption of tire cords in the market. Each application segment has specific requirements for tire cords in terms of strength, flexibility, and performance, driving the need for innovative solutions from market players.

Geographically, North America, Europe, Asia-Pacific, South America, and the Middle East and Africa are the key regions propelling the growth of the tire cord market. These regions offer significant opportunities for market players to expand their presence and tap into emerging markets with evolving automotive industries. Market players such as Hyosung Corporation, Kolon Industries, Inc., Kordsa Global, SRF Limited, and others are actively investing in research and development to introduce advanced tire cord solutions that meet the evolving demands of the industry. Collaborations, partnerships, and strategic acquisitions are common strategies employed by these players to enhance their competitive position and capture a larger market share.

Overall, the tire cord market is poised for substantial growth owing to the increasing focus on performance and durability in the automotive sector. With advancements in materials and manufacturing technologies, market players have the opportunity to innovate and cater to the diverse needs of customers across different regions. The tire cord industry is expected to witness further developments and innovations as players strive to meet the evolving demands of the global automotive market.The global tire cord market continues to experience significant growth driven by various factors such as the increasing demand for high-performance tires, particularly in the automotive industry. As automotive sectors expand globally, the need for durable and reliable tire cords made from materials like nylon, polyester, rayon, aramid, and others is on the rise. Market segmentation based on material types like nylon, polyester, and others caters to different requirements and preferences across various applications. Nylon, known for its strength, and polyester, with abrasion resistance and low stretch properties, play essential roles in tire cord production, ensuring tires can withstand diverse road conditions.

Radial tires, compared to bias tires, dominate the market due to their superior performance advantages such as better grip, handling, and fuel efficiency, making them the preferred choice for modern vehicles. The application segmentation reveals passenger cars as the major consumer of tire cords, followed by commercial vehicles, two-wheelers, off-road vehicles, and other segments. Each application segment has specific requirements for tire cords, driving the need for innovative solutions from market players to meet the diverse demands of customers across different regions.

Geographically, North America, Europe, Asia-Pacific, South America, and the Middle East and Africa are significant regions propelling the growth of the tire cord market. These regions present opportunities for market players to expand their presence and tap into emerging markets with evolving automotive industries. Key market players like Hyosung Corporation, Kolon Industries, Inc., and Kordsa Global are investing in research and development to introduce advanced tire cord solutions that align with the evolving demands of the industry. Collaborations, partnerships, and strategic acquisitions are strategies employed by players to enhance their competitive position and capture a larger market share.

Overall, the tire cord market is poised for substantial growth as the automotive sector emphasizes performance and durability. Ongoing advancements in materials and manufacturing technologies provide market players with opportunities to innovate and cater to the diverse needs of customers globally. The tire cord industry is expected to witness further developments and innovations as players strive to meet the evolving demands of the global automotive market, driving growth and competitiveness within the sector.

View comprehensive company market share data
https://www.databridgemarketresearch.com/reports/global-tire-cord-market/companies

Global Tire Cord Market: Strategic Question Framework

• What is the size of the Tire Cord Market in USD terms?
• What is the estimated annual growth rate of the Tire Cord Market?
• Which are the main categories studied in the Tire Cord Market report?
• Who are the primary stakeholders in the Tire Cord Market?
• Which countries contribute the most to the Tire Cord Market share?
• Who are the global leaders in the Tire Cord Market?

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