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Tire Cord Market to Grow at a Stayed 7.20% CAGR with Huge Profits by 2029 | Growth, Latest Trends and Forecast

Tire cord is a type of fabric made from high-quality fabric yarn. It has high tensile strength, abrasion resistance, and controlled deformations

Tire Cord Market

Market Analysis and Size

Tire cord is essential for providing strong support to rubber tires. Tire cord provides support and aids in the preservation of the tire’s shape. It absorbs the overall weight of a vehicle and provides elongation and absorption performance. Tire cords are substantial structural components of a tire.

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.

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Market Definition

Tire cord is a type of fabric made from high-quality fabric yarn. It has high tensile strength, abrasion resistance, and controlled deformations. Steel polyester, nylon, and rayon chords are the most common types of tire cord. Tire chords are made using a variety of processes such as yarn twisting, dipping, and weaving. During on-road performance, tire cord provides impact resistance from extreme pressure, weight, and force.

With the winning Tire Cord market report study, key opportunities in the market and influencing factors are provided which is useful to take the business to the highest level. By including detailed statistics and market research insights, this business report is generated which results in high growth and thriving sustainability in the market for the businesses. This all inclusive market survey report additionally encompasses predictions utilizing a practical arrangement of uncertainties and techniques. An expert team analyses and forecasts market data using well established market statistical and rational models to make Tire Cord report outstanding.

Competitive Landscape and Tire Cord Market Share Analysis

The tire cord market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to tire cord market.

Some of the major players operating in the tire cord market are:

  • WABCO (Belgium)
  • EnPro Industries (US)
  • MICHELIN. (France)
  • The Goodyear Tire & Rubber Company (US)
  • Dana Incorporated (US)
  • SAF-HOLLAND (Luxembourg)
  • IDEX Corporation (US)
  • The Boler Company (US)
  • PERIA TECHNOLOGIES, INC. (US)
  • Bridgestone Corporation (Japan)
  • Continental AG (Germany)
  • Meritor, Inc. (US)
  • CODA Development (US)
  • Hendrickson USA, L.L.C. (US)
  • Pirelli and C. S.p.A. (Italy)
  • STEMCO Products Inc. (US)
  • Hankook Tire (South Korea)
  • Pressure Systems International, Inc. (US)
  • DENSO CORPORATION (Japan)
  • Haltec Corporation (US)
  • Michelin North America Inc. (US)
  • ti.systems GmbH (Germany)
  • PressureGuard (US)

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COVID-19 Impact on Tire Cord Market

The global economy has been severely harmed by the coronavirus pandemic. The COVID-19 pandemic has had a negative impact on demand for all types of vehicles. As a result, the demand for tire cords has declined. However, demand for automobiles has gradually returned to normalcy following the lockdowns. This is expected to boost tire cord sales during the forecast period.

Recent Development

  • Indorama Ventures Company Limited (IVL) purchased Kordarna Plus S.A. in October 2020. The acquisition will allow the companies to broaden their product portfolio and strengthen their market position.
  • Indorama Ventures Company Limited (IVL) purchased the tire cord and single-end cord businesses of Glanzstoff Group (Netherlands) in June 2019. The acquisition will allow the company to strengthen its position in the auto segment’s rayon, nylon 6.6, and polyester businesses.
  • Indorama Ventures Company Limited (IVL) expanded its tire cord manufacturing line at its Performance Fibers facility in Kaiping, Guangdong Province, China, in January 2021. The company’s presence in the high-value-added automotive safety market will be strengthened as a result of the expansion.

    Global Tire Cord Market Scope

The tire cord market is segmented on the basis of material, tire type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material

  • Steel Cord
  • Polyester
  • Nylon
  • Rayon
  • Aramid
  • Others

Tire Type

  • Radial tire
  • Biased tire

Application

  • Aerospace
  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Duty Vehicles
  • Two Wheelers
  • Tractors
  • Others
  • 3 wheelers
  • Mining machinery

In this report, researchers focused on social media sentiment analysis and consumer sentiment analysis. For the social media sentiment analysis, they focused on trending topics, mentions on social media platforms including the percentage of mentions, trending brands, and consumer perception of products on social media platforms including negative and positive mentions. As part of the consumer sentiment analysis, they examined the impact of certifications, claims, and labels, factors influencing consumer preferences, key trends, consumer preferences including the futuristic approach and historical scenarios, influential social and economic factors, specification development, and consumers. Buying habits.

Geographic Segment Covered in the Report:

The Tire Cord report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.

  • North America (the USA and Canada)
    • Europe (UK, Germany, France, and the rest of Europe)
    • Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
    • Latin America (Brazil, Mexico, and the rest of Latin America)
    • the Middle East and Africa (GCC and the rest of the Middle East and Africa)

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Table of Contents:

 Tire Cord Market Research Report

 

Chapter 1 Tire Cord Market Overview

 

Chapter 2 Global Economic Impact on Industry

 

Chapter 3 Global Market Competition by Manufacturers

 

Chapter 4 Global Production, Revenue (Value) by Region

 

Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions

 

Chapter 6 Global Production, Revenue (Value), Price Trend by Type

 

Chapter 7 Global Market Analysis by Application

 

Chapter 8 Manufacturing Cost Analysis

 

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

 

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

 

Chapter 11 Market Effect Factors Analysis

 

Chapter 12 Tire Cord Market Forecast

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