The tire cord fabrics are majorly used as a reinforcement material within tires of buses, tractors, trucks, and off-the-road vehicles. These are developed for both commercial and passenger vehicles. The use of cord fabrics in tire helps in maintaining the shape of the tire while supporting the weight of the vehicle.
MARKET SCOPE
The "Global Tire Cord Fabrics Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the tire cord fabrics market with detailed market segmentation by tire type, material, distribution channel, vehicle type, and geography. The report provides key statistics on the market status of the leading tire cord fabrics market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on tire type, the global tire cord fabrics market is segmented into radial tires and bias tires.
- On the basis of material, the market is segmented into rayon, nylon, polyethylene, napthalate, polyester and others.
- Based on distribution channel, the global tire cord fabrics market is segmented into OEMs and aftermarket.
- Based on vehicle type, the global tire cord fabrics market is segmented into passenger cars, light commercial vehicles and heavy commercial vehicles.
MARKET DYNAMICS
Drivers:
- Due to an upsurge in vehicle production from the last few years owing to the rising disposable income of individuals is responsible for driving the growth of the tire cord fabrics market.
- Nevertheless, an increase in demand for bio-degradable tire cord fabrics is expected to gain high momentum in the future and so will provide healthy opportunities to the players operating in the tire cord fabrics market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The tire cord fabrics market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the tire cord fabrics market in these regions.
IMPACT OF COVID-19 ON TIRE CORD FABRICS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the tire cord fabrics market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from tire cord fabrics market are anticipated to lucrative growth opportunities in the future with the rising demand for tire cord fabrics in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the tire cord fabrics market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Cordenka GmbH and Co KG
- Century Enka Limited
- Firestone Fibers and Textiles
- HYOSUNG
- Indorama Ventures Public Company Limited (Indorama Ventures)
- KOLON Industries, Inc.
- Kordsa Teknik Tekstil A.-.
- SRF Limited
- TEIJIN LIMITED
- Toray Hybrid Cord,Inc (Toray Industries, Inc.)