Tire Cord Fabrics Market Projected to Grow at a Steady Pace During 2021-2026

December 07, 2021

Stratview Research releases a new insightful report on the Tire Cord Fabrics Market, that makes efforts at providing deep insights into numerous factors that are vital to the growth of this industry.

The information presented in this report will outline the present and upcoming trends in the market, analyst opinions and views, competitive landscapes, and key regions from a systematic perspective. This report on the Tire Cord Fabrics Market provides an analysis of the key trends in business and forecasts the future directions of the market. The procedure and analysis used in this report assesses the strengths and weaknesses of market participants, key market drivers, and challenges. It identifies significant market players, provides split analyses, and forecasts, among other insights.

Market Dynamics

The market experts at Stratview Research identify and evaluate the criteria which are vital for studying a market: The key customers, product, affecting trends, pricing, competition, financing, and growth factors. The user can take a critical insight at how, why, and when the market is roaring high and also can find the loopholes in it.

 

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According to the present report, Tire Cord Fabrics Market is likely to witness an impressive CAGR of 5.6% during the forecast period. The major factor contributing to the growth of the market for tire cord fabrics is the increase in demand for vehicles across the globe.

  

Key players mentioned in the report are -

Some of the major players mentioned in the report are listed below-

• 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.

Market Segments' Analysis

Tire Cord Fabrics Market Share: By Material Type

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.

Tire Cord Fabrics Market Share: By Tire Type

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.

Tire Cord Fabrics Market Share: By Application Type

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.

Tire Cord Fabrics Market Share: By Region

In terms of regions, Asia-Pacific is estimated to be the fastest-growing market for tire cord fabrics during the forecast period, owing to the surge in production of cars in the developing economies, such as China, India, and Indonesia. North America and Europe are also expected to offer sizeable growth opportunities during the forecast period.

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Author : Harshad