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

Transparency Market
Research
Tire Cord and Tire Fabrics Market - Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast
2013 - 2023
Published Date
04-March-2016
175 Page Report
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Press Release
Increasing Demand for Sustainable Alternatives to Boost
Sales of Tire Cord and Tire Fabric, Finds 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 2013 - 2023
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.
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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
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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.
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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.
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.
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Tire Cord and Tire Fabrics Market
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$6.37 bn by the end of 2023.
This review is based on TMR’s report, titled “Tire Cord and Tire Fabrics Market - Global Industry Analysis, Size,
Share, Growth, Trends, and Forecast 2013 - 2023?.”
The report segments the global tire cord and tire fabrics market as:
Tire Cord and Tire Fabrics Market - Product Segment Analysis
•
Steel
•
Polyester
•
Nylon dipped
•
Rayon
•
Others (Including aramid, fiberglass, PEN, etc.)
Tire Cord and Tire Fabrics Market - Regional Analysis
North America
•
U.S.
•
Canada
•
Mexico
Europe
•
Germany
•
Italy
•
France
•
U.K.
•
Spain
•
Turkey
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Tire Cord and Tire Fabrics Market
•
Rest of Europe
Asia Pacific
•
China
•
Japan
•
India
•
Pakistan
•
Indonesia
•
Taiwan
•
Vietnam
•
Rest of Asia Pacific
Latin America
•
Brazil
•
Argentina
•
Rest of Latin America
Middle East & Africa
•
GCC Countries
•
South Africa
•
Rest of Middle East & Africa
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TABLE OF CONTENT
Chapter 1 Preface
Report Description
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Tire Cord and Tire Fabrics Market
Research Scope
Assumptions
Market Segmentation
Research Methodology
Chapter 2 Executive Summary
Global Tire Cord and Tire Fabrics Market, 2014 - 2025, (Kilo Tons) (US$ Mn)
Tire Cord and Tire Fabrics: Market Snapshot
Chapter 3 Tire Cord and Tire Fabrics Market– Industry Analysis
Introduction
Value Chain Analysis
Market Drivers
Rising global demand for automotive, especially in Asia Pacific, to propel market for tire cord and tire fabrics
Revival of U.S. economy infuses fresh demand for tire cords and tire fabrics, especially steel and polyester tire
cords
Restraints
Sharp decline in automotive demand in Europe lowers market attractiveness in the region
Overcapacity in Asia Pacific lowers market profitability
Opportunity
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Hybrid tire cord technology offers potential to revolutionize tire cord market
Increasing demand for biobased and environmentally-sustainable alternatives to traditional tire cord materials
Porter’s Five Forces Analysis
Bargaining Power of Suppliers
Bargaining Power of Buyers
Threat of New Entrants
Threat of Substitutes
Degree of Competition
Tire Cord and Tire Fabrics: Market Attractiveness Analysis - By Product Segment
Tire Cord and Tire Fabrics: Market Attractiveness Analysis - By Country
Tire Cord and Tire Fabrics: Company Market Share Analysis, 2014
Chapter 4 Price Trend Analysis
Chapter 5 Tire Cord and Tire Fabrics Market – Product Analysis
Tire Cord and Tire Fabrics Market: Product Segement Overview
Global Steel Tire Cord and Tire Fabrics Market (Kilo Tons) (US$ Mn), 2013–2023
Global Conditioning Polymers Market for Personal Care Ingredients, 2014–2023 (Kilo Tons) (US$ Mn)
Global Polyester Tire Cord and Tire Fabrics Market (Kilo Tons) (US$ Mn), 2013–2023
Global Nylon Tire Cord and Tire Fabrics Market (Kilo Tons) (US$ Mn), 2013–2023
Global Rayon Tire Cord and Tire Fabrics Market (Kilo Tons) (US$ Mn), 2013–2023
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Tire Cord and Tire Fabrics Market
Global Others Tire Cord and Tire Fabrics Market (Kilo Tons) (US$ Mn), 2013–2023
Chapter 6 Tire Cord and Tire Fabrics Market - Regional Analysis
Global Tire Cord and Tire Fabrics Market: Regional Overview
North America Tire Cord and Tire Fabrics Market – By Regional Sub-segment, 2014 - 2023
North America Tire Cord and Tire Fabrics Market
North America Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
North America Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
U.S. Tire Cord and Tire Fabrics Market
U.S. Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
U.S. Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Canada Tire Cord and Tire Fabrics Market
Canada Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
Canada Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Mexico Tire Cord and Tire Fabrics Market
Mexico Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
Mexico Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Europe Tire Cord and Tire Fabrics Market – By Regional Sub-segment, 2014–2023
Europe Tire Cord and Tire Fabrics Market
Europe Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
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Europe Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Germany Tire Cord and Tire Fabrics Market
Germany Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
Germany Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Chapter 6U.K. Tire Cord and Tire Fabrics Market
U.K. Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
U.K. Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
France Tire Cord and Tire Fabrics Market
France Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
France Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Italy Tire Cord and Tire Fabrics Market
Italy Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
Italy Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Spain Tire Cord and Tire Fabrics Market
Spain Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
Spain Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Turkey Tire Cord and Tire Fabrics Market
Turkey Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
Turkey Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Rest of Europe Tire Cord and Tire Fabrics Market
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Rest of Europe Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
Rest of Europe Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Asia Pacific Tire Cord and Tire Fabrics Market – By Regional Sub-segment, 2014–2023
Asia Pacific Tire Cord and Tire Fabrics Market
Asia Pacific Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
Asia Pacific Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
China Tire Cord and Tire Fabrics Market
China Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
China Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Japan Tire Cord and Tire Fabrics Market
Japan Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
Japan Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
India Tire Cord and Tire Fabrics Market
India Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
India Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Chapter 7 Pakistan Tire Cord and Tire Fabrics Market
Pakistan Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
Pakistan Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Indonesia Tire Cord and Tire Fabrics Market
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Indonesia Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
Indonesia Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Taiwan Tire Cord and Tire Fabrics Market
Taiwan Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
Taiwan Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Vietnam Tire Cord and Tire Fabrics Market
Vietnam Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
Vietnam Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Rest of Asia Pacific Tire Cord and Tire Fabrics Market
Rest of Asia Pacific Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
Rest of Asia Pacific Tire Cord and Tire Fabrics Market, Revenue by Product Segment(US$ Mn), 2013–2023
Latin America Tire Cord and Tire Fabrics Market – By Regional Sub-segment, 2014–2023
Latin America Tire Cord and Tire Fabrics Market
Latin America Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
Latin America Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Brazil Tire Cord and Tire Fabrics Market
Brazil Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
Brazil Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Argentina Tire Cord and Tire Fabrics Market
Argentina Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
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Argentina Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Rest of Latin America Tire Cord and Tire Fabrics Market
Rest of Latin America Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
Rest of Latin America Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Chapter 8 Middle East & Africa (MEA) Tire Cord and Tire Fabrics Market – By Regional Sub-segment, 2014–
2023
Middle East & Africa Tire Cord and Tire Fabrics Market
Middle East & Africa Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
Middle East & Africa Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
GCC Tire Cord and Tire Fabrics Market
GCC Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
GCC Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
South Africa Tire Cord and Tire Fabrics Market
South Africa Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons), 2013–2023
South Africa Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn), 2013–2023
Rest of Middle East & Africa Tire Cord and Tire Fabrics Market
Rest of Middle East & Africa Tire Cord and Tire Fabrics Market, Volume by Product Segment (Kilo Tons),
2013–2023
Rest of Middle East & Africa Tire Cord and Tire Fabrics Market, Revenue by Product Segment (US$ Mn),
2013–2023
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Chapter 9 Company Profiles
Kolon Industries, Inc.
Kordsa Global, Inc.
Hyosung
Century Enka Ltd.
SRF Limited
Milliken & Company
Firestone Fibers & textile
Cordenka GmbH & Co. KG
KORDÁRNA Plus A.S.
TEIJIN LIMITED
Tokusen
FORMOSA TAFFETA CO.,LTD
Gajah Tunggal Tbk
Chapter 10 List of Potential Customers
Chapter 11 Primary Research – Key Findings
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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.