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Tire Cord Fabric Market to Record a CAGR of 6.8%, Valuation to Reach US$ 9.4 Billion by the end of 2032

Tire Cord Fabric Market

Tire Cord Fabric Market- Analysis, Outlook, Growth Trends, and Forecast

NEWARK, DELAWARE, UNITED STATES OF AMERICA, June 17, 2022 /EINPresswire.com/ — Tire cord fabric is an industrial grade fabric that is manufactured through the use of high tenacity yarns. Tire cord fabrics play the role of reinforcing materials in automotive and vehicle tires and are designed and used in a way that helps maintain the shape of tires, while simultaneously supporting vehicle weight. Tire cord fabrics impart critical performance related qualities to the tires such as abrasion resistance, increased strength, and deformation control.

Tire cord fabrics are manufactured from high quality yarns such as nylon, polyester, polyamide, aramid and many others. Post the polymerization process, the yarn is spun, twisted and then woven into fabric form. The tire cord fabric is then treated with a solution consisting of latex, which enhances its ability to bond with rubber tires. The tire cord fabric is then heat treated to provide it with dimensional stability. The exact specifications of the tire cord fabric in terms of length, cord density, width, and pick count etc. is managed by manufacturers as per the needs of end use customers.

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Tire Cord Fabric Market: Dynamics

Tire cord fabric is used extensively in the tire industry for application in automotive, aircraft and other vehicle tires. Moreover, tire cord fabric is also used in the manufacture of some other industrial products such as rubber hoses, expansion joints and air springs. The scope of this study on tire cord fabric market however limits itself to tire industry applications. Vehicle tires face different types of external conditions that have an impact on the life of the product. Tire cord fabric reinforces the structure of the tire and provides additional strength, resistance to harsh environments and thus improves the overall performance, reliability and life of tires.

Manufacturers of tires source tire cord fabric based made of the material that is best suited to the application the tire is intended to be used for. For example, light commercial vehicle tires commonly use polyester tire cord fabric. Technology improvements are playing a role in creating new demand for tire cord fabric. For example, the use of cap plies in radial tires that are steel belted, use an additional layer of fabric to hold the steel belts in place, thus increasing demand for tire cord fabric.

The primary demand driver for tire cord fabric is the growing production of automotive, aircraft and vehicle tires. Increasing demand for passenger, commercial vehicles, along with continually rising end user demands for higher quality are projected to drive market growth for tire cord fabrics.

Tire Cord Fabric Market: Regional Outlook

Asia Pacific is a key regional market for tire cord fabric, with robust demand for automotive sector in the emerging countries of the region. China accounts for a substantial share of the Tire Cord Fabric market, given the large automotive sector in the country, with strong OEM as well as aftermarket sales of tires. Countries such as South Korea and China are key manufacturing hubs for tire cord fabric and the textile raw material used for its production.

Europe and North America are stable demand markets for Tire Cord Fabric, with a sizeable automotive industry, well developed aviation industry and highest quality standards for tires among all regions. China, South Korea, Japan, India, Germany, USA are some of the key countries which will influence demand patterns of tire cord fabric in their respective regions.

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Tire Cord Fabric Market: Market Participants

Examples of some of the market participants identified in the Tire Cord Fabric market include,

• Kordsa Teknik Tekstil

• Shenma Industrial Co., Ltd

• Hyosung Advanced Materials Corporation

• Indorama Ventures

• Kolon Industries

• Far Eastern New Century Corporation

• Zhejiang Hailide New Material Co., Ltd.

• KORDÁRNA Plus a.s.

• Oriental Industries (Suzhou) Ltd.

• Zhejiang Unifull Industrial Fibre Co., Ltd

• Wuxi Taiji industry Co., Ltd.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry.

Regional analysis includes:

• North America (U.S., Canada)

• Latin America (Mexico, Brazil, Argentina, Chile, Peru)

• Western Europe (Germany, Italy, France, U.K., Spain, BENELUX, Nordic, Eastern Europe)

• CIS and Russia

• Asia-Pacific (China, India, ASEAN, South Korea)

• Japan

• Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)

The Tire Cord Fabric report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Tire Cord Fabric Market: Segmentation

On the basis of material type,

• Polyester Tire Cord Fabric

• Nylon Tire Cord Fabric

• Polyamide Tire Cord Fabric

• Aramid Tire Cord Fabric

• Rayon Tire Cord Fabric

On the basis of application,

• Radial Tires

• Bias Tires

• High Performance Tires

On the basis of end use,

• Passenger cars

• SUVs

• MUVs

• Light commercial vehicles

• Heavy commercial vehicles

• Military vehicles

• Mining vehicles

• Aircrafts

• Motorbikes

• Bicycles

• Agricultural Vehicles

• Other Vehicles

On the basis of tire sales channel

• OEM

• Aftermarket

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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