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Tire Cord - Market Analysis, Trends, and Forecasts

  • ID: 1227809
  • Report
  • 94 Pages
  • Global Industry Analysts, Inc
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Tire Cord market worldwide is projected to grow by US$1.9 Billion, driven by a compounded growth of 4.9%. Steel Tire Cord & Tire Fabrics, one of the segments analyzed and sized in this study, displays the potential to grow at over 4.7%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$3.7 Billion by the year 2025, Steel Tire Cord & Tire Fabrics will bring in healthy gains adding significant momentum to global growth.

Representing the developed world, the United States will maintain a 4.5% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$75.6 Million to the region's size and clout in the next 5 to 6 years. Over US$134.1 Million worth of projected demand in the region will come from Rest of Europe markets. In Japan, Steel Tire Cord & Tire Fabrics will reach a market size of US$224.4 Million by the close of the analysis period. As the world’s second largest economy and the new game changer in global markets, China exhibits the potential to grow at 6.6% over the next couple of years and add approximately US$493.5 Million in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders.

Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include:
  • CORDENKA GmbH & Co., KG
  • Hyosung Corporation
  • Kolon Industries, Inc.
  • Kordarna Plus A.S.
  • NV Bekaert SA
  • SRF Limited
  • Teijin Limited
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY AND REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

An Introduction to Vehicle Tire

Tire Composition: Percentage Breakdown of Components by Weight for Passenger Car and Truck Tires

Tire Cord: Key Reinforcement Material for Vehicle Tires

Global Tire Reinforcement Materials Market (2018): Percentage Breakdown of Dollar Sales by Segment

Bright Prospects Ahead for World Tire Cord Market

Fast Paced Growth Projected for Tire Cord Market in China and Other Developing Regions

World Tire Cord Market by Region: Percentage Breakdown of Revenues for China, Other Emerging Regions and Developed Regions for the Years 2019 & 2025

World Tire Cord Market - Geographic Regions Ranked by Value CAGR for 2018-2025: China, Asia-Pacific, Rest of World, Europe, USA, Japan, and Canada

Opportunities Remain Rife in Developed Regions

COMPETITIVE SCENARIO

Tire Cord: A Consolidated Marketplace

Strong Relationships with Tire Makers: Key to Market Success

Innovative Marketing Strategies Take Center Stage

Declining Captive Capacity Bodes Well for Tire Cord Manufacturers

Percentage Share of Captive Market as a Proportion of Total Tire Cord Market for the Years 2010, 2012, 2014, 2016 and 2018

Global Competitor Market Shares

Tire Cord Competitor Market Share Scenario Worldwide (in %): 2019

Global Competitor Market Shares by Segment

Steel Tire Cord & Tire Fabrics (Segment) Global Competitor Market Share Positioning for 2019

Polyester Tire Cord & Tire Fabrics (Segment) Market Share Breakdown of Key Players: 2019

Nylon Tire Cord & Tire Fabrics (Segment) Competitor Revenue Share (in %): 2019

2. FOCUS ON SELECT PLAYERS

Bekaert (Belgium)

Century Enka Limited (India)

CORDENKA GmbH & Co. KG (Germany)

FORMOSA TAFFETA CO., LTD. (Taiwan)

Hyosung Corporation (South Korea)

Indorama Ventures Public Company Limited (Thailand)

KORDÁRNA Plus a.s. (Czech Republic)

Kiswire Ltd. (South Korea)

Kolon Industries, Inc. (South Korea)

Kordsa Global Endüstriyel İplik ve Kord Bezi Sanayi ve Ticaret A.Ş. (Turkey)

Shenma Industrial Co., Ltd. (China)

SRF Limited (India)

Teijin Limited (Japan)

Xingda International (China)

3. MARKET TRENDS & DRIVERS

Northbound Trajectory in World Tire Industry Creates Fertile Environment for Growth of Tire Cord Market

World Market for Tires (2019 & 2024): Breakdown of Volume Sales of OEM & Replacement Tires in Thousand Units by Geographic Region/Country

Dynamics in Automotive Industry Inflate Demand for OEM Tires

Global Passenger Cars Production (In Million Units) by Geographic Region/Country for the Years 2017, 2019, 2022

Percentage Share of Small Cars in Global Light Vehicle Sales by Category for the Years 2015, 2018 & 2022

Global Penetration of SUVs (In %) by Country for the Year 2019

Electric Vehicles Emerge as New Flavor in World Automotive Industry: Global EV Sales (In Million Units) by Region for the Years 2019, 2025 & 2030

Expanding Base of Middle Class in the Asian Region Provides the Perfect Platform for Automotive Consumerism: Global Middle Class Spending (US$ Billion) by Region for the Years 2020, 2025, 2030

Sustained Expansion in Replacement Tire Segment

Increasing Average Vehicle Age Instigates Tire Replacement Demand: Average Service Life of Passenger Cars (in Years) in Select Countries for 2018

Tire Replacement Cycle (In Years) by Country/Region: 2018

Tire Industry CAPEX Programs Indicate High Growth Opportunities

Soaring Demand for Radial Tire: A Major Driver

Tire Radialization as a Percentage of Total Tire Population by Select Country/Region

Rising Demand for Steel Tire Cord Drives Overall Growth in Tire Cord Market

HMLS Yarns Widen Role of Polyester in Tire Cord Ecosystem

Growing Adoption of Nylon Tire Cord

Technology Advancements and Product Innovations Sustain Market Momentum

R&D Efforts Bring Forward the New ‘Green’ Tire Cord

Novel Tire Cords Improve Rolling Resistance and Fuel Efficiency

Nanotechnology Augments Tire R&D

Volatile Raw Material Costs: A Major Issue

Breakdown of Costs Involved in Steel Tire Cord Making

4. GLOBAL MARKET PERSPECTIVE

TABLE 1: Tire Cord Global Market Estimates and Forecasts in US$ Thousand by Region/Country: 2018-2025

TABLE 2: Tire Cord Global Retrospective Market Scenario in US$ Thousand by Region/Country: 2009-2017

TABLE 3: Tire Cord Market Share Shift across Key Geographies Worldwide: 2009 VS 2019 VS 2025

TABLE 4: Steel Tire Cord & Tire Fabrics (Segment) World Market by Region/Country in US$ Thousand: 2018 to 2025

TABLE 5: Steel Tire Cord & Tire Fabrics (Segment) Historic Market Analysis by Region/Country in US$ Thousand: 2009 to 2017

TABLE 6: Steel Tire Cord & Tire Fabrics (Segment) Market Share Breakdown of Worldwide Sales by Region/Country: 2009 VS 2019 VS 2025

TABLE 7: Polyester Tire Cord & Tire Fabrics (Segment) Potential Growth Markets Worldwide in US$ Thousand: 2018 to 2025

TABLE 8: Polyester Tire Cord & Tire Fabrics (Segment) Historic Market Perspective by Region/Country in US$ Thousand: 2009 to 2017

TABLE 9: Polyester Tire Cord & Tire Fabrics (Segment) Market Sales Breakdown by Region/Country in Percentage: 2009 VS 2019 VS 2025

TABLE 10: Nylon Tire Cord & Tire Fabrics (Segment) Geographic Market Spread Worldwide in US$ Thousand: 2018 to 2025

TABLE 11: Nylon Tire Cord & Tire Fabrics (Segment) Region Wise Breakdown of Global Historic Demand in US$ Thousand: 2009 to 2017

TABLE 12: Nylon Tire Cord & Tire Fabrics (Segment) Market Share Distribution in Percentage by Region/Country: 2009 VS 2019 VS 2025

TABLE 13: Rayon Tire Cord & Tire Fabrics (Segment) World Market Estimates and Forecasts by Region/Country in US$ Thousand: 2018 to 2025

TABLE 14: Rayon Tire Cord & Tire Fabrics (Segment) Market Historic Review by Region/Country in US$ Thousand: 2009 to 2017

TABLE 15: Rayon Tire Cord & Tire Fabrics (Segment) Market Share Breakdown by Region/Country: 2009 VS 2019 VS 2025

TABLE 16: Other Tire Cord & Tire Fabrics (Segment) World Market by Region/Country in US$ Thousand: 2018 to 2025

TABLE 17: Other Tire Cord & Tire Fabrics (Segment) Historic Market Analysis by Region/Country in US$ Thousand: 2009 to 2017

TABLE 18: Other Tire Cord & Tire Fabrics (Segment) Market Share Distribution in Percentage by Region/Country: 2009 VS 2019 VS 2025

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES

United States: An Important Consumer of Tire Cord

Onshoring of Tire Manufacturing to Infuse New Optimism

A Glimpse of Recent Tire CAPEX Announcements in the US

US Tire Market (2018): Percentage Share Breakdown of Consumer Sales by Brand Type

US Truck Tire Replacement Market (2018): Percentage Breakdown of Annual Revenue by Category

Market Analytics

TABLE 19: United States Tire Cord Market Estimates and Projections in US$ Thousand by Segment: 2018 to 2025

TABLE 20: Tire Cord Market in the United States by Segment: A Historic Review in US$ Thousand for 2009-2017

TABLE 21: United States Tire Cord Market Share Breakdown by Segment: 2009 VS 2019 VS 2025

CANADA

TABLE 22: Canadian Tire Cord Market Estimates and Forecasts in US$ Thousand by Segment: 2018 to 2025

TABLE 23: Canadian Tire Cord Historic Market Review by Segment in US$ Thousand: 2009-2017

TABLE 24: Tire Cord Market in Canada: Percentage Share Breakdown of Sales by Segment for 2009, 2019, and 2025

JAPAN

Overview of Japanese Tire Industry

Japanese Production of Automotive Tires (in Million Units) for the Period 2011-2018

Japanese Automotive Tire Industry: Percentage Breakdown of Production and Sales (OEM and Replacement) by Tire Type

Market Analytics

TABLE 25: Japanese Market for Tire Cord: Annual Sales Estimates and Projections in US$ Thousand by Segment for the Period 2018-2025

TABLE 26: Tire Cord Market in Japan: Historic Sales Analysis in US$ Thousand by Segment for the Period 2009-2017

TABLE 27: Japanese Tire Cord Market Share Analysis by Segment: 2009 VS 2019 VS 2025

CHINA

China Emerges as Dominant Consumer of Tire Cord

Tires Industry in China: A Macro Perspective

Intensified Automotive Production Extends Opportunities to Tire and Tire Cord Markets

Chinese Steel Tire Cord Market (2019): Percentage Breakdown of Revenues by Company

Market Analytics

TABLE 28: Chinese Tire Cord Market Growth Prospects in US$ Thousand by Segment for the Period 2018-2025

TABLE 29: Tire Cord Historic Market Analysis in China in US$ Thousand by Segment: 2009-2017

TABLE 30: Chinese Tire Cord Market by Segment: Percentage Breakdown of Sales for 2009, 2019, and 2025

EUROPE

Major Regional Market for Tire Cord

An Overview of European Tire Market

Market Analytics

TABLE 31: European Tire Cord Market Demand Scenario in US$ Thousand by Region/Country: 2018-2025

TABLE 32: Tire Cord Market in Europe: A Historic Market Perspective in US$ Thousand by Region/Country for the Period 2009-2017

TABLE 33: European Tire Cord Market Share Shift by Region/Country: 2009 VS 2019 VS 2025

TABLE 34: European Tire Cord Market Estimates and Forecasts in US$ Thousand by Segment: 2018-2025

TABLE 35: Tire Cord Market in Europe in US$ Thousand by Segment: A Historic Review for the Period 2009-2017

TABLE 36: European Tire Cord Market Share Breakdown by Segment: 2009 VS 2019 VS 2025

FRANCE

TABLE 37: Tire Cord Market in France by Segment: Estimates and Projections in US$ Thousand for the Period 2018-2025

TABLE 38: French Tire Cord Historic Market Scenario in US$ Thousand by Segment: 2009-2017

TABLE 39: French Tire Cord Market Share Analysis by Segment: 2009 VS 2019 VS 2025

GERMANY

Robust Automotive Industry Creates Opportunities

Market Analytics

TABLE 40: Tire Cord Market in Germany: Recent Past, Current and Future Analysis in US$ Thousand by Segment for the Period 2018-2025

TABLE 41: German Tire Cord Historic Market Analysis in US$ Thousand by Segment: 2009-2017

TABLE 42: German Tire Cord Market Share Breakdown by Segment: 2009 VS 2019 VS 2025

ITALY

TABLE 43: Italian Tire Cord Market Growth Prospects in US$ Thousand by Segment for the Period 2018-2025

TABLE 44: Tire Cord Historic Market Analysis in Italy in US$ Thousand by Segment: 2009-2017

TABLE 45: Italian Tire Cord Market by Segment: Percentage Breakdown of Sales for 2009, 2019, and 2025

UNITED KINGDOM

TABLE 46: United Kingdom Market for Tire Cord: Annual Sales Estimates and Projections in US$ Thousand by Segment for the Period 2018-2025

TABLE 47: Tire Cord Market in the United Kingdom: Historic Sales Analysis in US$ Thousand by Segment for the Period 2009-2017

TABLE 48: United Kingdom Tire Cord Market Share Analysis by Segment: 2009 VS 2019 VS 2025

REST OF EUROPE

TABLE 49: Rest of Europe Tire Cord Market Estimates and Forecasts in US$ Thousand by Segment: 2018-2025

TABLE 50: Tire Cord Market in Rest of Europe in US$ Thousand by Segment: A Historic Review for the Period 2009-2017

TABLE 51: Rest of Europe Tire Cord Market Share Breakdown by Segment: 2009 VS 2019 VS 2025

ASIA-PACIFIC

Uptrend in Automotive Industry Drives Growth in Tire Cord Market

India: A Niche Market for Tires and Tire Cord Materials

Indian Tires Market (2018): Percentage Breakdown of Volume Production by Vehicle Segment

Indian Nylon Tire Cord Fabric Market

India Emerges as a Hub for Radial Tire Manufacturing

Automobile Industry in India

Market Analytics

TABLE 52: Tire Cord Market in Asia-Pacific by Segment: Estimates and Projections in US$ Thousand for the Period 2018-2025

TABLE 53: Asia-Pacific Tire Cord Historic Market Scenario in US$ Thousand by Segment: 2009-2017

TABLE 54: Asia-Pacific Tire Cord Market Share Analysis by Segment: 2009 VS 2019 VS 2025

REST OF WORLD

Automobile Industry in Latin America: An Overview

Saudi Arabia: High Demand for Replacement Tires

Market Analytics

TABLE 55: Rest of World Tire Cord Market Estimates and Forecasts in US$ Thousand by Segment: 2018 to 2025

TABLE 56: Rest of World Tire Cord Historic Market Review by Segment in US$ Thousand: 2009-2017

TABLE 57: Tire Cord Market in Rest of World: Percentage Share Breakdown of Sales by Segment for 2009, 2019, and 2025

IV. COMPETITION

ASAHI KASEI CORPORATION FIBERS & TEXTILES SBU

BAYGOLD GROUP LTD.

CENTURY ENKA LTD.

CENTURY RAYON

COLMANT COATED FABRICS

CORDENKA GMBH & CO. KG

ENKA DE COLOMBIA SA

FIRESTONE FIBERS & TEXTILES COMPANY, LLC

FORMOSA TAFFETA CO., LTD.

GLANZSTOFF INDUSTRIES

HANOI INDUSTRIAL TEXTILE JSC

HENAN HENGXING SCIECNCE & TECHNOLOGY CO., LTD.

HL GROUP LTD.

HUAIAN NYLON CHEMICAL FIBRE CO., LTD.

HYOSUNG ADVANCED MATERIALS

INDORAMA VENTURES PUBLIC CO., LTD.

PERFORMANCE FIBERS (KAIPING)

JIANGSU HAIYANG CHEMICAL FIBER CO., LTD.

JIANGSU TAIJI INDUSTRY NEW MATERIALS CO., LTD.

JSC "GRODNO AZOT" - KHIMVOLOKNO PLANT

JUNMA TYRE CORD CO., LTD.

KISWIRE LTD.

KOLON INDUSTRIES, INC.

KORDARNA PLUS AS

KORDSA TEKNIK TEKSTIL AS

PJSC "KUIBYSHEVAZOT"

MADURA INDUSTRIAL TEXTILES (MITL)

MILLIKEN & COMPANY

NV BEKAERT SA

ORIENTAL INDUSTRIES (SUZHOU) LTD.

RUBBER INDUSTRIES INVESTMENT & DEVELOPMENT COMPLEX (SABA TIRE CORD)

SAARSTAHL AG

SENYU GROUP

SHANDONG HELON POLYTEX CHEMICAL FIBRE CO., LTD.

SHANDONG SHIFENG GROUP CO., LTD.

SHENMA INDUSTRIAL CO., LTD.

SHINKONG SYNTHETIC FIBERS CORPORATION

SOHRAB GROUP

SRF LTD.

SRI IMPEX PVT. LTD.

STAR POLYMERS INC.

SUMITOMO ELECTRIC INDUSTRIES LTD.

TEIJIN FRONTIER CO., LTD.

TEIJIN FRONTIER (THAILAND) CO., LTD.

TEIJIN LTD.

TOKUSEN U.S.A., INC.

TOKYO ROPE MANUFACTURING CO., LTD.

TORAY HYBRID CORD, INC.

ZHEJIANG HAILIDE NEW MATERIAL CO., LTD.

ZHEJIANG UNIFULL INDUSTRIAL FIBRE CO., LTD.

Note: Product cover images may vary from those shown
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