Increased Automotive Demand Spurs Growth of Global Tire Cord and Tire Fabrics Market

Transparency Market
Research
Tire Cord and Tire Fabrics Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast,
2014 - 2020

Published Date
24-July-2014

80 Page Report

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Expanding Automotive Industry in Asia Pacific to Drive
Global Tire Cord and Tire Fabrics Market : TMR
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Tire Cord and Tire Fabrics Market

REPORT DESCRIPTION
Tire Cord and Tire Fabrics Market - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast, 2014 - 2020
The global tire cord and tire fabrics market owes its development mainly to the burgeoning automobile industry,
especially in Asia Pacific. The revival of the US economy has also had a positive impact on the demand for and
sales of personal and commercial vehicles, fueling the demand for steel and polyester tire cords. This in turn,
has propelled the global tire cord and tire fabrics market. Registering a modest CAGR of 5.50% from 2014
to 2020, the tire cord and tire fabrics market is anticipated to rise from a value of US$3.4 bn in 2013 to US$5
bn in 2020.
There has been increasing pressure on manufacturers to replace traditional tire cord materials with
environmentally-sustainable and bio-based alternatives, which present strong potential for growth. In addition,
hybrid tire technology possesses the ability to completely revolutionize the tire cord market.
High Rate of Radialization Boosts Demand for Steel Tire Cord
The tire cord and tire fabrics market is segmented on the basis of product into polyester, steel, rayon, nylon,
and others including fiberglass, aramid cords, and polyethylene naphthalate (PEN). Accounting for a share of
55.0% in 2013, steel tire cords formed the largest product segment of the tire cord and tire fabrics market. The
advantageous physical properties of steel cord make it...