Tire Cord Fabrics Market Analysis 2022– Overview, Major Players, COVID-19 Impact Business Status and Forecast 2030

 Market Synopsis

According to the MRFR analysis, the global Tire Cord Fabrics Market size is expected to reach over USD 7,923.5 million by the end of 2030 at a CAGR of 3.9%.

Tire cord fabrics undertake the key function of providing reinforcement to the tire structure. The use of tire cord fabrics helps improve the strength, abrasion resistance, and durability of the tires. Nylon and polyester are two of the most commonly used fibers for weaving tire cord fabrics. Tire cord fabrics help reduce the tire weight and fuel efficiency of the vehicles. Additionally, they are widely used in the production of passenger car radial tires. Thus, an increase in demand for passenger cars in the developing economies including India, China, and Brazil is expected to drive the demand for radial tires and thereby market for tire cord fabrics in the upcoming period.

Get Free Sample PDF Brochure @ https://www.marketresearchfuture.com/sample_request/10544

Segmentation

By Material

This segment is divided into nylon, polyester, rayon, and others.

Nylon: Nylon has emerged as the material of choice for the production of tire cord fabrics. Nylon fabrics exhibit superior fatigue resistance, high tenacity. As a result, they are widely used in the production of heavy-duty wear resistant tires. Furthermore, their low moisture regain makes them suitable for use in wet condition tires

Polyester: The polyester segment is expected to account for a significant share in the global tire cord fabrics market by 2027. Growing demand for polyester tire cord fabrics in the production of passenger car radial tires is expected to be primary factor for the segment growth.

Rayon: Rayon fabrics exhibit superior adhesion to the rubber and thus offer increased stability and tire performance at higher speeds. Thus, the rising demand for high-performance tires is anticipated to boost the market for rayon tire cord fabrics over the forecast period.

Others: The other segment comprises steel and aramid-based tire cord fabrics among others.

Speak To Analyst @ https://www.marketresearchfuture.com/ask_for_schedule_call/10544

By Vehicle Type

This segment is classified into passenger cars, commercial vehicles, and others.

Passenger Cars: This segment is expected to dominate the market throughout the forecast period. Ever rising demand for passenger cars in the developing economies of India, China, Indonesia, Vietnam, and Brazil is expected to be the major force driving the segment growth during the projected duration.

Commercial Vehicles: The commercial vehicles segment is expected to grow at a robust pace. Commercial vehicle tires exhibit a higher replacement ratio and thereby higher demand for tires. Thus, an increase in sales of light commercial vehicles is projectedto provide a major boost to the segment growth.

Others: The others segment include medical institutions, educational institutions, and public utility spaces.

By Tire Type

This segment is bifurcated into radial tires and bias tires.

Radial Tires: Radial tire segment emerged as the leader in the global market in 2019. Wide ranging use of radial tires in passenger cars was the primary factor for the segment growth. Moreover, the rising use of radial tires in two-wheelers is expected to propel the segment growth in the upcoming period.

Bias Tires: Bias tires segment is expected to account for a significant share of the market by the year 2027. The continued preference for bias tires in commercial vehicles owing to their higher load carrying capacity is anticipated to be the primary driving factor over the forecast period.

By Application

This segment is divided into OEM and replacement.

OEM: The OEM segment is projected to account for a significant share of the market in the upcoming period. Growing automotive sales across the world coupled with the growing demand for fuel efficient cars is anticipated to the demand for tire cord fabrics in the OEM segment.

Replacement: The replacement segment dominated the global tire cords fabrics market in 2019. Wide ranging demand for aftermarket tires from passenger cars and commercial vehicles was the primary factor driving the segment growth.

Request for Customization @ https://www.marketresearchfuture.com/ask_for_customize/10544

By Region

North America: Growing trend of trend toward incentivizing the adoption of electric vehicles is expected to be the key factor driving the market growth.

Europe: Strict adoption of pollution control norms coupled with the presence of a well-established automotive industry is expected to drive regional growth.

Asia-Pacific: Continuous increase in vehicular population coupled with the rapid adoption of electric vehicles in China are projected to provide a major boost to the product demand.

Latin America: Economic slowdown and decline in automotive sales were the key factors responsible for lower market share in 2019.

Middle East & Africa: Expected rise in per capita income and rise in economic activities are the factors driving the demand for passenger and commercial vehicles in the region and thereby the demand for tire cord fabrics.

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Contact:

Market Research Future

Phone:

+1 628 258 0071(US)

+44 2035 002 764(UK)

Email: sales@marketresearchfuture.com

Browse Related Reports:

2-D Materials Market- https://www.marketresearchfuture.com/reports/2-d-materials-market-1135

Automotive Wheel Coating Market- https://www.marketresearchfuture.com/reports/automotive-wheel-coating-market-3144

Cellulose Esters Market- https://www.marketresearchfuture.com/reports/cellulose-esters-market-6981

Construction Additives Market- https://www.marketresearchfuture.com/reports/construction-additives-market-5170

 

Comments

Post a Comment

Popular posts from this blog

Melamine-Based Adhesives Market Global Business Growing Strategies, Technological Innovation and Emerging Trends Of Outlook To 2030

  Market Overview: Melamine adhesives are synthesized by combination of melamine with formaldehyde. Characteristic features exhibited by melamine adhesives such as high moisture durability, greater flexibility, and fire & heat resistance make it more preferable over its counterparts. In addition to this, relatively low cost of the melamine based adhesives increases its competitiveness in the adhesives market. Melamine based adhesives find their applications in vast number of industries, wherein the key industries are building & construction, automotive, household, packaging, and others. Among these, the building & construction industry is driving the growth of market due to rising demand of adhesives for making construction materials. During the forecast period the demand from construction industry estimated to head north. Apart from building & construction industry, global automotive industry production is growing at Y-o-Y of 9%, fueled by rising light weight vehicle
Read more

Polyethylene Naphthalate Market Exclusive Report Study with Forecast to 2030

 Polyethylene Naphthalate (PEN) is a polyester that exhibits superior properties such as high mechanical strength, dielectric strength, and excellent resistance to temperature, solvents, and chemicals. PEN, due to its high thermal and mechanical properties, is widely used in films and pellet form to manufacture electronic parts. Due to the growth in the electronics products, the demand for PEN is increasing too. Additionally, PEN also witnesses an increasing demand in solar panels for the solar cell protection. Apart from electronics parts, polyethylene naphthalate is extensively used in packaging applications including food packaging to improve the thermal and barrier properties.  A number of regulatory, worldwide, such as the U.S. FDA and the Japanese Ministry of Health, Labor & Welfare (MHLW) approve the use of recycled plastic products such as polyethylene terephthalate (PET) and polyethylene naphthalate (PEN) in food packaging. Owing to the wide application area, PEN witnesses
Read more

Light Olefins Market Global Business Growing Strategies, Technological Innovation and Emerging Trends Of Outlook To 2030

  Market Synopsis  The global Light Olefins Market 2023 was previously valued at USD 254.6 billion in 2020 and is poised to secure up to USD 475.8 million by 2030 at a CAGR of 5.58% over the review period. Segmental Analysis The market for light olefins is categorized according to the application, type of product, derivatives, and region. The market is bifurcated into ethylene and propylene-based upon the product type. Ethylene accounted for 60 percent of the largest market share in 2016, with a market valuation of USD 152.7 billion and is anticipated to grow at a CAGR of 5.78 percent over the forecast period. The market is segmented in based on the derivatives into styrene, propylene oxide, acrylonitrile, acrylic acid, cumene, oxo alcohols, polyethylene, ethylene oxide/ glycol, EDC/ VCM/ PVC, polypropylene, alpha-olefins, and acetate monomer. By the application, the market is sub-bifurcated into chemical commodities and refinery. Get Sample @   https://www.marketresearchfuture.com/sa
Read more