Sri Lanka News Search:
Stay Connected
Sponsored Links
Sri Lanka Explorer
Subscribe our Newsletter and receive great deals.


Increasing Demand for Sustainable Alternatives to Boost Sales of Tire Cord and Tire Fabric, TMR

With only a few companies raking in the highest revenues, the global tire cord and tire fabrics market exhibits a consolidated vendor landscape, observes Transparency Market Research (TMR) in a new report. Small players operating in the market pose considerable threat to the leading players, as they provide cheaper alternatives to products manufactured by bigger companies. Nevertheless, large players usually capitalize on supply agreements and their goodwill in the market.

However, if demand for tire cord and fabrics rises at a lower rate than capacity addition, even the large players stand a chance of losing their profitability marginally. Among the most prominent companies, Hyosung Corporation holds the dominant share of 15.8% in the market. The company owes much of its lead to the fact that it produces more than one kind of tire cords. Other leading players such as Bekaert are exclusively engaged in the manufacture of steel cords. As per TMR, Hyosung Corporation, Kordsa Global, Bekaert, Kolon Industries, Inc., and SRF Ltd. together holds 59.2% of the global tire cord and tire fabrics market.

Get PDF Brochure for more Professional and Technical insights :

Growth in Tire Cord and Tire Fabrics Sales Directly Corresponds to Expansion of Automotive Industry

The rising demand for automotive globally, particularly in the emerging nations of Asia Pacific is expected to considerably boost sales of tire cord and tire fabrics. Since, the market is directly related to conditions in the automotive industry, volatility in macro-economic conditions affecting auto manufacturers also adversely influences the prospects for enterprises engaged in tire cords and fabrics sale.

India and China have emerged as lucrative domestic markets for tire cord and fabrics. Experts are touting these countries to be the market leaders of the future. “The emerging middle-class population in India and China has considerably contributed in the rising demand for automotive in Asia Pacific, which makes the region the most attractive market for tire cord and tire fabrics,” said a lead analyst in TMR.

Revival of the U.S. Economy Provides Fresh Growth Opportunities to Market

“The revival of the U.S. economy will also infuse fresh demand for tire cords and fabrics,” he added. As per TMR, the U.S. accounts for over 60% of all commercial and passenger vehicles sold in North America. Therefore economic rebound post-recession in 2008-2009, will fuel opportunities for the tire cord and tire fabrics manufacturers in the U.S. This is expected to be a major factor fuelling demand for tire cords and fabrics globally.

On the contrary, despite being home to the most prominent brands in the automotive industry, Europe witnessed a sharp decline in demand for vehicles during economic slowdown. This however is the only region that is yet to recover from effects of the global recession. The road to recovery has been sluggish in Europe due to the slow GDP growth reported in the region. The decreasing demand in the region is hampering the overall prospects for the global tire cord and fabrics market.

Asia Pacific Emerges as Lucrative Market for Sale of Tire Cord and Tire Fabrics

The overcapacity of Asia Pacific, especially in China, also negatively influences the market’s trajectory. Nevertheless, manufacturers are projected to gain significantly from the launch of hybrid tire technologies. The increasing demand for environmentally sustainable and bio-based alternatives also bodes well for the market.

Browse Market Research Report with ToC & Analysis :

Regionally, the rising demand for automotive has sealed Asia Pacific’s dominance in the global tire cord and tire fabrics market. North America has emerged as the second-largest regional market for tire cord and tire fabrics.In terms of products, the market witnesses the highest demand for steel tire cords.Based on in-depth research, TMR has pegged the overall value of the global tire cord and tire fabrics market at US$4.14 bn in 2015. Rising at a CAGR of 4.9% between 2015 and 2023, the market is expected to reach US$6.37 bn by the end of 2023.

This review is based on TMR’s report, titled “Tire Cord and Tire Fabrics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2023.”

The report segments the global tire cord and tire fabrics market as:

Tire Cord and Tire Fabrics Market - Product Segment Analysis


  • Steel
  • Polyester
  • Nylon dipped
  • Rayon
  • Others (Including aramid, fiberglass, PEN, etc.) 


About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. 

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.


Transparency Market Research

90 State Street, Suite 700

Albany, NY 12207

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.


Visit Blog :

Add comment

Security code

AddThis Social Bookmark Button

Event Calendar

June 2021
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3
Select Category
No events
No events
No events