The global market for Tire Cord was valued at US$6.9 Billion in 2024 and is projected to reach US$8.9 Billion by 2030, growing at a CAGR of 4.3% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Technological advancements in tire cord manufacturing have led to the development of high-performance materials that offer superior strength, flexibility, and resistance to wear and tear. Innovations in polymer chemistry and fiber technology have resulted in tire cords that are lighter and more durable, contributing to the overall efficiency and performance of modern tires. Additionally, the introduction of environmentally friendly materials and manufacturing processes has reduced the environmental impact of tire cord production. Advanced manufacturing techniques, such as precision weaving and coating technologies, have also improved the uniformity and adhesion of tire cords, enhancing the overall quality and reliability of tires.
The growth in the tire cord market is driven by several factors, including the increasing demand for high-performance tires, advancements in tire manufacturing technologies, and the expansion of the automotive industry. The rising demand for fuel-efficient and durable tires has spurred the development of advanced tire cords that can meet the stringent performance requirements of modern vehicles. Technological advancements in tire manufacturing, such as the use of advanced materials and automation, have improved the quality and efficiency of tire production, driving the demand for high-quality tire cords. Additionally, the growth of the automotive industry, particularly in emerging markets, has increased the demand for tires, further boosting the tire cord market. The trend towards electric vehicles and the need for specialized tires to support their unique performance characteristics are also contributing to the market's expansion.
Global Tire Cord Market - Key Trends & Drivers Summarized
Tire cord is a crucial reinforcement material used in the construction of tires, providing strength, stability, and durability. Typically made from materials such as nylon, polyester, aramid, or steel, tire cord is embedded within the rubber matrix of the tire to enhance its performance and extend its lifespan. This reinforcement material helps the tire maintain its shape under the stress of driving, improving traction, handling, and overall safety. Tire cord is essential for various types of tires, including those used in passenger vehicles, commercial trucks, aircraft, and industrial equipment, ensuring that they can withstand the demands of different driving conditions and applications.Technological advancements in tire cord manufacturing have led to the development of high-performance materials that offer superior strength, flexibility, and resistance to wear and tear. Innovations in polymer chemistry and fiber technology have resulted in tire cords that are lighter and more durable, contributing to the overall efficiency and performance of modern tires. Additionally, the introduction of environmentally friendly materials and manufacturing processes has reduced the environmental impact of tire cord production. Advanced manufacturing techniques, such as precision weaving and coating technologies, have also improved the uniformity and adhesion of tire cords, enhancing the overall quality and reliability of tires.
The growth in the tire cord market is driven by several factors, including the increasing demand for high-performance tires, advancements in tire manufacturing technologies, and the expansion of the automotive industry. The rising demand for fuel-efficient and durable tires has spurred the development of advanced tire cords that can meet the stringent performance requirements of modern vehicles. Technological advancements in tire manufacturing, such as the use of advanced materials and automation, have improved the quality and efficiency of tire production, driving the demand for high-quality tire cords. Additionally, the growth of the automotive industry, particularly in emerging markets, has increased the demand for tires, further boosting the tire cord market. The trend towards electric vehicles and the need for specialized tires to support their unique performance characteristics are also contributing to the market's expansion.
Scope of the Study
The report analyzes the Tire Cord market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.Segments:
Material (Nylon, Polyester, Rayon, Other Materials); Application (Replacement, OEM).Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.Key Insights:
- Market Growth: Understand the significant growth trajectory of the Nylon Tire Cord segment, which is expected to reach US$5.4 Billion by 2030 with a CAGR of a 5.2%. The Polyester Tire Cord segment is also set to grow at 2.3% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $984.5 Million in 2024, and China, forecasted to grow at an impressive 5.9% CAGR to reach $1.8 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Asahi Kasei Corporation, Hyosung Corporation, Kolon Industries, Inc., NV Bekaert SA, Century Enka Ltd. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Tire Cord Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Tire Cord Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Tire Cord Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Some of the 57 major companies featured in this Tire Cord market report include:
- Asahi Kasei Corporation
- Hyosung Corporation
- Kolon Industries, Inc.
- NV Bekaert SA
- Century Enka Ltd.
- Indorama Ventures Public Company Limited
- CORDENKA GmbH & Co. KG
- Formosa Taffeta Co., Ltd.
- KISWIRE Ltd.
- C. A. Litzler Co., Inc.
- Jiangsu Xingda Steel Cord Co., Ltd.
- JSC Grodno Azot - Khimvolokno Plant
- Kordsa Teknik Tekstil A.S.
- Krishna Engineering Works
- Benninger
Table of Contents
I. METHODOLOGYMII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Asahi Kasei Corporation
- Hyosung Corporation
- Kolon Industries, Inc.
- NV Bekaert SA
- Century Enka Ltd.
- Indorama Ventures Public Company Limited
- CORDENKA GmbH & Co. KG
- Formosa Taffeta Co., Ltd.
- KISWIRE Ltd.
- C. A. Litzler Co., Inc.
- Jiangsu Xingda Steel Cord Co., Ltd.
- JSC Grodno Azot - Khimvolokno Plant
- Kordsa Teknik Tekstil A.S.
- Krishna Engineering Works
- Benninger
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 288 |
| Published | February 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 6.9 Billion |
| Forecasted Market Value ( USD | $ 8.9 Billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
