Stratview Research has published a new report on the Tire Cord Fabrics Market, segmented by Material Type (Nylon, Polyester, Rayon, and Others), by Tire Type (Radial Tires and Bias Tires), by Application Type (OEM and Replacement), by Vehicle Type (Passenger Cars and Commercial Vehicles), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global artificial intelligence as a service market.
Market Highlights
Tire Cord Fabrics Market is likely to grow from USD 5.8 billion in 2021 to USD 8.37 billion by 2028 at a CAGR of 5.3% during the forecast period of 2022-2028. The major factor contributing to the growth of the market for tire cord fabrics is the increase in demand for vehicles across the globe.
Covid Impact
Covid-19 has impacted the market dynamics, competition, and global supply chain of every possible market one can think of. The revenues for many, have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operations and strategy will sustain and beat the competition.
Segmentation –
This report studies the Tire Cord Fabrics Market and has segmented the market in a few ways, keeping in mind the concentration of all the stakeholders across the value chain. Following are the ways in which the market has been segmented in the report:
Based on the material type, the market is segmented as nylon, polyester, rayon, and others. Owning to the increase in demand for high-strength tire cord fabrics from different types of vehicles such as passenger cars, lightweight vehicles, and heavyweight vehicles, nylon is expected to remain the largest segment of the market during the forecast period.
Based on the tire type, the tire cord fabrics market is segmented as radial and bias. The radial segment accounted for the larger share of the market in 2020, owing to the increasing production of passenger cars. The segment is likely to maintain its dominance during the forecast period as well.
Based on the application type, the market is segmented as OEM and replacement. The replacement segment accounted for the larger share of the market in 2020, driven by the increasing number of vehicles on road and age of vehicles. The segment is expected to lead the market during the forecast period as well.
Following are the key players in the Tire Cord Fabrics Market:
- Indorama Ventures Public Company Limited
- Toray Industries Inc.
- Kolon Industries Inc.
- Hyosung Corporation
- SRF Ltd.
- Kordsa Teknik Tekstil A.S.
- Teijin Ltd.
- Cordenka GmbH Co Kg
- Century Enka Limited
- Firestone Fibers Textile Company.
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