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

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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 ideal for application in radial tires. Radial tires have
been rapidly replacing bias ply tires in most commercial and private vehicles. The high degree of automotive
radialization in Europe and North America has spurred the demand for steel cords.
Nylon cords, on the other hand, are likely to emerge as the most rapidly developing product segment of the tire
cord and tire fabrics market. Increased volume of heavy vehicle production and unfavorable road conditions in
Asia Pacific drive the demand for nylon cords.
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Asia Pacific Dominates Global Tire Cord and Tire Fabrics Market
Geographically, the worldwide market for tire cord and tire fabrics is divided into Asia Pacific (APAC), Europe,
North America, and Rest of the World (RoW). Asia Pacific has emerged as the leading regional segment,
accounting for a market share of more than 45.0% in 2013 in terms of demand. Growing purchasing power of
consumers and high GDP in countries such as India, China, Indonesia, and Malaysia has spurred the demand
for commercial as well as personal vehicles in Asia Pacific. This in turn, fuels the demand for ancillary
automotive products, which has positively impacted the APAC tire cord and tire fabrics market.
North America and Europe are the second and third-largest regional segments of the global tire cord and tire
fabrics market. Even though the Rest of the World region presently holds the smallest share of the overall
market, growing demand for automobiles in many emerging countries is sure to drive the RoW market for tire
cord and tire fabrics in the coming years.
Kolon Industries, Inc., Teijin Ltd., Kordsa Global, Inc., SRF Ltd., Firestone Fibers & Textile Company, Milliken &
Company Inc., Cordenka GmbH & Co. KG, Hyosung Corporation, Kordarna Plus A.S., and Tokusen U.S.A.,
Inc. are the some of the notable players competing in the global tire cord and tire fabrics market.
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TABLE OF CONTENT
Chapter 1 Preface
1.1 Research description
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Tire Cord and Tire Fabrics Market
1.2 Market segmentation
1.2.1 Global tire cord and tire fabric market segmentation by product segment and region
1.3 Research scope
1.3.1 Assumptions
1.4 Research methodology
1.4.1 Abbreviations
Chapter 2 Executive Summary
2.1 Global tire cord and tire fabrics market, 2013 – 2020 (Kilo Tons) (USD Million)
Chapter 3 Tire Cord and Tire Fabrics Market - Industry Analysis
3.1 Introduction
3.2 Value chain analysis
3.3 Market drivers
3.3.1 Growing global automotive demand, especially from Asia Pacific to propel market for tire cord and tire
fabrics
3.3.1.1 Global vehicle production statistics, 2011 - 2013
3.3.1.2 Production comparison of leading automotive manufacturers (2011 & 2012)
3.3.2 Revival of U.S. economy infuses fresh demand for tire cords and tire fabrics, especially steel and
polyester tire cords
3.3.2.1 Personal vehicle and commercial vehicle sales in the U.S. (2006-2020)
3.4 Market restraints
3.4.1 Sharp decline in automotive demand in Europe reduces the market attractiveness in the region
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3.4.1.1 Personal vehicle sales in Europe, 2005 - 2013
3.4.1.2 Commercial vehicle sales in Europe, 2005 - 2013
3.4.2 Overcapacity in Asia Pacific reduces market profitability
3.5 Opportunities
3.5.1 Hybrid tire cord technology has the potential to revolutionize the tire cord market
3.5.2 Increasing demand for bio-based and environmentally-sustainable alternatives to traditional tire cord
materials
3.6 Porter’s Five Forces analysis
3.6.1 Bargaining power of suppliers
3.6.2 Bargaining power of buyers
3.6.3 Threat of new entrants
3.6.4 Threat from substitutes
3.6.5 Degree of competition
3.7 Tire cord and tire fabrics: Market attractiveness analysis
3.7.1 Global tire cord and tire fabrics market: Market attractiveness analysis
3.8 Tire cord and tire fabrics: Company market share analysis
3.8.1 Global tire cord and tire fabrics market: Company market share analysis, 2013
Chapter 4 Tire Cord and Tire Fabrics Market – Product Segment Analysis
4.1 Global tire cord and tire fabrics market: Product segment overview
4.1.1 Global tire cord and tire fabrics market share, by product segment, 2013 & 2020
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4.2 Steel
4.2.1 .Global demand for steel tire cords and tire fabrics, 2013 - 2020 (Kilo Tons) (USD Million)
4.3 Polyester
4.3.1 Global demand for polyester tire cord and tire fabrics, 2013 - 2020 (Kilo Tons) (USD Million)
4.4 Nylon
4.4.1 Global demand for nylon tire cord and tire fabrics, 2013 - 2020 (Kilo Tons) (USD Million)
4.5 Rayon
4.5.1 Global demand for rayon tire cord and tire fabrics, 2013 - 2020 (Kilo Tons) (USD Million)
4.6 Others
4.6.1 Global demand for other tire cord and tire fabrics, 2013 - 2020 (Kilo Tons) (USD Million)
Chapter 5 Tire Cord and Tire Fabrics Market - Regional Analysis
5.1 Global tire cord and tire fabrics market: Regional overview
5.1.1 Global tire cord and tire fabrics market share, by region, 2013 & 2020
5.2 North America
5.2.1 North America tire cord and tire fabrics market volumes, by product segment, 2013 - 2020 (Kilo Tons)
5.2.2 North America tire cord and tire fabrics market revenue, by product segment, 2013 - 2020 (USD
Million)
5.3 Europe
5.3.1 Europe tire cord and tire fabrics market volumes, by product segment, 2013 - 2020 (Kilo Tons)
5.3.2 Europe tire cord and tire fabrics market revenue, by product segment, 2013 - 2020 (USD Million)
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5.4 Asia Pacific
5.4.1 Asia Pacific tire cord and tire fabrics market volume, by product segment, 2013 - 2020 (Kilo Tons)
5.4.2 Asia Pacific tire cord and tire fabrics market revenue, by product segment, 2013 - 2020 (USD Million)
5.5 Rest of the World (RoW)
5.5.1 RoW tire cord and tire fabrics market volume, by product segment, 2013 - 2020 (Kilo Tons)
5.5.2 RoW tire cord and tire fabrics market revenue, by product segment, 2013 - 2020 (USD Million)
Chapter 6 Company Profiles
6.1 Kolon Industries, Inc.
6.1.1 Company overview
6.1.2 Product portfolio
6.1.3 Financial overview
6.1.4 Business strategy
6.1.5 SWOT analysis
6.1.6 Recent developments
6.2 Kordsa Global, Inc.
6.2.1 Company overview
6.2.2 Product portfolio
6.2.3 Financial overview
6.2.4 Business strategy
6.2.5 SWOT analysis
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6.2.6 Recent developments
6.3 Hyosung Corporation
6.3.1 Company overview
6.3.2 Product portfolio
6.3.3 Financial overview
6.3.4 Business strategy
6.3.5 SWOT analysis
6.3.6 Recent development
6.4 SRF Ltd.
6.4.1 Company overview
6.4.2 Product portfolio
6.4.3 Financial overview
6.4.4 Business strategy
6.4.5 SWOT analysis
6.5 Milliken & Company Inc.
6.5.1 Company overview
6.5.2 Product portfolio
6.5.3 Business strategies
6.5.4 SWOT analysis
6.5.5 Recent development
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6.6 Firestone Fibers & Textile Company
6.6.1 Company overview
6.6.2 Product portfolio
6.6.3 Business strategy
6.6.4 SWOT analysis
6.7 Cordenka GmbH & Co. KG
6.7.1 Company overview
6.7.2 Product portfolio
6.7.3 Business strategy
6.7.4 SWOT analysis
6.7.5 Recent development
6.8 Kordarna Plus A.S.
6.8.1 Company overview
6.8.2 Product portfolio
6.8.3 Financial overview
6.8.4 Business strategy
6.8.5 SWOT analysis
6.9 Teijin Ltd.
6.9.1 Company overview
6.9.2 Product portfolio
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6.9.3 Financial overview
6.9.4 Business strategy
6.9.5 SWOT analysis
6.9.6 Recent development
6.10 Tokusen U.S.A., Inc.
6.10.1 Company overview
6.10.2 Product portfolio
6.10.3 Business strategy
6.10.4 SWOT analysis
6.10.5 Recent developments
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The Tire Cord and Tire Fabrics Market was valued at USD 3.48 billion in 2013 and is expected to reach USD 5.06 billion in 2020, growing at a CAGR of 5.5% between 2014 and 2020

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