Tire cord and tire fabrics are used as reinforcement for various types of tires which include passenger car tire, light and heavy vehicle tire and off the road tires among others. This kind of reinforcement is used to increase the strength and durability of the tires. Tire cord and tire fabrics include nylon & dipped fabric, polyester cord fabric, rayon, polyethylene and aramid among others.
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The major driving factor for the tire cord and tire fabrics market is the increasing demand for automobiles. Depending on the vehicle type, different types of tire cord and fabrics are used to provide require strength. There has been an increase in the demand for the automobiles owing to increasing populations and growing disposable income of consumers. Tire cords are increasingly replacing steel cords to increase the efficiency and reduce the weight of vehicles. The various applications which include tires as an integral part of machineries from the industrial sector is another driving factor for the growth of the market. The major restraint for the tire cord and tire fabric market is availability of the raw materials and the complex processing for manufacturing the reinforced cords and fabrics.
Asia Pacific is the largest market for the tire cord and tire fabric due to increase in the demand for automobiles. Europe is being the second largest market for this market. Research and developments to improve the efficiencies automobiles and reducing the weight automobiles is driving the market in Europe. Growing demand for automobiles in developing economies such as Brazil, Russia and South Africa is expected to fuel the growth of the market over the forecast period.
The tire cord and tire fabric market is fragmented in nature and few key players of the market include HYOSUNG, Zhejiang Hailide, SRF, KOLON , Shenma Group, Enka de Colombia S.A, Albany International Corp., Tokusen U.S.A., Inc., Invista and Firestone Fibers & Textiles Division among others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
· North America
· Asia Pacific
· Rest of the World
This report provides comprehensive analysis of
· Market growth drivers
· Factors limiting market growth
· Current market trends
· Market structure
· Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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