Global Tire Cord Market Size is estimated to expand rapidly in the coming years, at a CAGR of xx.xx % from 2018 to 2025. In 2017, the global market valuation was USD xx.xx billion, and it is anticipated to be greater than USD xx.xx billion by 2025. The market for tire cords is immediately affected by the tire industry's development. The increasing manufacturing of vehicles worldwide is anticipated to boost tire sector development, which will probably have a beneficial effect on the market growth of tire cords as a result of altering customer lifestyles and development. In addition, the increasing supply for mining and building machinery, such as excavators, concrete mixers, highway rollers and crushers around the world, is probable, also over the prediction era, to boost business development.
The product is used as a pneumatic reinforcement fabric and is intended mainly to hold tires in form. These materials contribute to the effect of car weight, thereby considerably extending tire efficiency. It also helps to maintain tire dimensions and ensures pleasant riding under various negative physical circumstances. The major variables that affect the profit margins of competitors within the business space include the volatile costs of raw materials and heavy competition among main manufacturers. More advances in R&D are anticipated to unlock fresh ways of business development to enhance pneumatic efficiency and technology to manufacture biodegradable pneumatic material.
Global Market Growth Opportunities (Revenue, Growth) By 2018-2025
This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global tire cord market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global tire cord market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.
By Tire Type Insights: On the basis of tire type, global tire cord market has been segmented into bias tire, radial tires. Due to its higher productivity, the radial tire sector represented a large proportion of the industry's revenues. These tires give greater lives and less compaction and harm to the floor. In addition, these wheels assist to increase user convenience, increase traction and lower maintenance costs for the device. As a consequence, important development in this section will be anticipated over the forecast period.
By Application Insights: On the basis of application, global tire cord market has been segmented into replacement and OEM. Due to its higher productivity, the radial tire sector represented a large proportion of the industry's revenues. These tyres give greater lives and less compaction and harm to the floor. In addition, these wheels assist to increase user convenience, increase traction and lower maintenance costs for the device. As a consequence, important development in this section will be anticipated over the forecast period.
The tire cord market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. The Asia Pacific has appeared as a leading area and the largest development speed is anticipated in the prediction era. As passenger car production in India and China grows, the area is a major manufacturing center for the automotive sector. The manufacturing of vehicles in this region is increasing quickly due to the existence of important automakers such as Nissan, Honda, Hyundai and Toyota. Over the forecast period, the growing automotive industry, that needs improved quality tires, is expected to have a positive effect on tire cord growth.
North America is a significant commercial vehicle manufacturer and is anticipated to be the product's main customer. The United States is one of the world's largest manufacturers of heavy vehicles. However, declining statistics on vehicle production in the country may hamper demand for tires and have a negative impact on the industry. As the second-largest automotive manufacturer in the globe, Europe has appeared, with the key markets being Germany, France and Russia. The growing supply for luxury high performance vehicles is probable to grow in the region's propelling sector. Consumers are anticipated to pay high consideration to vehicle performances and durability over the anticipated time span.
Global Tire Cord Market Size, Share Analysis by Region 2018
Global Tire Cord Market Study Objective
1. To forecast the market size of tire cord market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.
2. Market analysis and forecast of tire cord market on the basis of region, substrate, and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.
3. To analyze and elaborate significant factors that will have a major impact on the growth of tire cord market, such as drivers, restraints, challenges, and opportunities.
4. The regional analysis of tire cord market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa, and the Asia Pacific.
5. Strategic analysis of micro-markets, in terms of individual prospects, opportunities, growth trends and their involvement in the overall market.
6. To provide detailed analysis of competitive and strategic developments in the tire cord market like a new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.
Key Players Landscape
Toray Industries Inc., Indorama Ventures Company Limited (IVL), Teijin Limited, Kolon Industries Inc., Kordsa Teknik Tekstil A.S., Hyosung Corporation, and SRF Limited are some of the key players in the market of tire cord. The participants in the industry will probably embrace merger and purchase approaches to incorporate into the firm.
Global Tire Cord Market Study Report Offer You!
The global tire cord market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end-user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.
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