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Global Tire Cord & Tire Fabrics Market Outlook Report: Latest Trends and Growth Opportunities by Region

Published On: Oct, 2024
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Pages: 154

"Innovations in Tire Reinforcement Materials Propel Growth in the Tire Cord & Tire Fabrics Market: A Shift Toward Performance and Sustainability"

Market Introduction and Overview

The Tire Cord & Tire Fabrics Market has experienced notable growth as the automotive industry increasingly demands high-performance materials to enhance tire strength, durability, and safety. Tire cords and fabrics, essential reinforcement materials embedded in tire structures, play a crucial role in maintaining the shape, reducing deformation, and ensuring tire longevity. These materials, primarily made from nylon, polyester, and steel, offer superior tensile strength and resistance to wear and tear. In 2024, the market has seen advancements in materials technology, focusing on lightweight, high-performance fabrics that meet the evolving needs of the automotive and aviation sectors.

Looking ahead, the Tire Cord & Tire Fabrics Market is expected to continue expanding in 2025, driven by growing vehicle production and the increasing emphasis on fuel efficiency. As electric vehicles (EVs) gain market share, manufacturers are seeking lightweight, high-strength tire reinforcement materials to improve overall vehicle efficiency and reduce rolling resistance. Additionally, the push toward sustainable materials is encouraging the adoption of eco-friendly fibers and recycling technologies in tire cord production. With advancements in both material innovation and manufacturing processes, the market is poised for strong growth in the coming years.

Latest Trends

The Tire Cord & Tire Fabrics Market is witnessing several emerging trends that are shaping its development. One of the most significant trends in 2024 is the shift toward sustainable and eco-friendly tire reinforcement materials. As global environmental regulations tighten and consumers demand greener products, tire manufacturers are increasingly adopting bio-based and recycled materials for tire cord and fabric production. This trend is being driven by the automotive industry's broader focus on sustainability, which is influencing the entire supply chain, including tire component materials.

Another key trend is the integration of advanced materials such as aramid fibers and high-modulus polyester into tire cords. These materials offer enhanced performance characteristics, including greater heat resistance, improved strength, and reduced weight, which are essential for high-performance and specialty tires. The demand for high-performance tires, especially in the automotive and aviation industries, is pushing manufacturers to innovate with these advanced materials. Additionally, the rise of electric vehicles (EVs) is driving demand for lightweight tire reinforcement materials that can reduce energy consumption and improve the range of EVs.

Future Market Drivers

Several factors are expected to drive the growth of the Tire Cord & Tire Fabrics Market in the future. One of the primary drivers is the increasing global demand for vehicles, particularly in emerging economies. Rapid urbanization and rising disposable incomes in regions such as Asia-Pacific and Latin America are leading to higher vehicle ownership rates, which in turn is boosting tire production and the demand for tire reinforcement materials. Furthermore, the ongoing recovery of the automotive industry post-pandemic is expected to fuel tire demand, driving growth in the tire cord and fabric market.

The transition toward electric vehicles (EVs) is another major driver of market growth. As governments worldwide push for the adoption of EVs to reduce carbon emissions, tire manufacturers are focusing on developing specialized tires that meet the unique requirements of EVs, such as low rolling resistance and improved energy efficiency. Tire cord and fabric manufacturers are adapting to these trends by producing lighter, stronger materials that can enhance EV performance. The growing use of radial tires, which require high-quality tire cords, is also expected to support market growth, particularly in the commercial vehicle segment.

Market Challenges

Despite its promising growth outlook, the Tire Cord & Tire Fabrics Market faces several challenges. One of the key challenges is the volatility of raw material prices, particularly for synthetic fibers such as nylon and polyester. Fluctuations in crude oil prices, which are closely linked to the production of synthetic materials, can significantly impact the cost structure of tire cord manufacturing. Manufacturers are seeking ways to mitigate these costs through alternative materials and recycling initiatives, but price volatility remains a major concern.

Another challenge is the increasing regulatory pressure to reduce the environmental impact of tire production. While there is a growing demand for sustainable and recyclable tire materials, developing eco-friendly alternatives to traditional synthetic fibers remains a complex and costly process. Manufacturers must invest in research and development to create bio-based or recyclable fibers that meet the stringent performance requirements of the automotive and aviation sectors. Additionally, global competition in the tire cord market is intensifying, putting pressure on companies to innovate while maintaining competitive pricing.

Competitive Landscape and Key Strategies

The competitive landscape of the Tire Cord & Tire Fabrics Market is marked by the presence of several leading global players, each striving to strengthen their market position through innovation, strategic partnerships, and sustainability initiatives. Key strategies among top companies include investments in research and development to create high-performance, lightweight tire cords that cater to the needs of electric vehicles and high-performance tires. Companies are also focusing on expanding their production capacities in key regions, such as Asia-Pacific, where vehicle production is rising rapidly.

Sustainability is becoming a central focus for many players, with several companies investing in the development of bio-based and recycled tire cords to reduce the environmental footprint of their products. Collaborative efforts between tire manufacturers and raw material suppliers are also emerging, aimed at creating eco-friendly tire components that meet regulatory requirements and consumer demand for greener products. By leveraging these strategies, companies are positioning themselves to capitalize on the growing demand for high-performance, sustainable tire reinforcement materials.

Market Players

Key companies operating in the Tire Cord & Tire Fabrics Market include:


1. Kolon Industries, Inc.
2. Hyosung Corporation
3. Kordsa Teknik Tekstil A.S.
4. SRF Limited
5. Teijin Limited
6. Toray Industries, Inc.
7. Cordenka GmbH
8. Indorama Ventures Public Company Limited
9. Michelin Group
10. Firestone Fibers & Textiles Company
11. Bekaert
12. Shenma Industrial Co., Ltd.
13. Century Enka Limited
14. Formosa Taffeta Co., Ltd.
15. Zhejiang Hailide New Material Co., Ltd.

Market Segmentation

By Type

  • Steel
  • Polyester
  • Nylon
  • Rayon
  • Glass
  • Others
  • By Tire type

  • Radial
  • Bias
  • Other
  • By Vehicle type

  • Passenger cars
  • Heavy Commercial Vehicles
  • Light Commercial Vehicles
  • Two Wheelers
  • Others
  • By Sales channel

  • OEM
  • Replacement
  • By Geography

  • North America (USA, Canada, Mexico)
  • Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Australia, Rest of APAC)
  • The Middle East and Africa (Middle East, Africa)
  • South and Central America (Brazil, Argentina, Rest of SCA)
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