Tire Cord Fabrics Market by Material (Nylon, Polyester, Rayon, Aramid), Application (Passenger Cars, Commercial Vehicles, Two-Wheelers, Aircraft Tires) & Region for 2024-2031

Tire Cord Fabrics Market Valuation – 2024-2031

The tire cord textiles market is expanding rapidly, driven by increasing car production and rising demand for long-lasting, high-performance tires. These materials improve tire strength, durability and safety, making them ideal for both passenger and commercial vehicle tires. The global tire cord fabrics market size was valued at USD 6.6 Billion in 2023 and is projected to reach USD 10.5 Billion by 2031.

Technological breakthroughs and innovation in materials such as polyester, nylon and aramid fibres are driving market growth. Furthermore, the increased emphasis on fuel efficiency and environmentally friendly products is encouraging producers to create lighter, more sustainable tire cord textiles. The rising demand for Malaria Diagnostics is enabling the market grow at a CAGR of 6% from 2024 to 2031.

Tire Cord Fabrics MarketDefinition/ Overview

Tire cord fabrics are essential materials used in the manufacturing of tires to enhance their strength, durability, and performance. These fabrics, typically made from nylon, polyester, rayon, or aramid, reinforce the tire structure, providing it with the necessary support and flexibility. Tire cord fabrics play a critical role in maintaining tire shape, improving its resistance to punctures and abrasions, and ensuring optimal performance under various driving conditions.

Tire cord textiles are used to reinforce tires, increasing their strength, durability, and performance. They provide structural support, increase traction, minimize wear and improve overall vehicle safety and efficiency.

Future applications for tire cord fabrics include upgrading electric vehicle tires, providing more sustainable and environmentally friendly tire options, boosting tire performance for self-driving cars and constructing smart tires with embedded sensors.

Will Growing Vehicle Production Drive the Demand for Tire Cord Fabrics?

The tire cord fabrics market is witnessing substantial growth due to the increasing production of vehicles worldwide. The demand for high-performance and durable tires is rising as automakers focus on enhancing vehicle safety and efficiency. The adoption of advanced materials in tire manufacturing is expected to boost the market further. The growing popularity of electric vehicles (EVs) and the need for lightweight yet robust tire materials are also contributing to the market’s expansion. Additionally, advancements in tire technology, such as the development of eco-friendly and fuel-efficient tires, are driving the adoption of innovative tire cord fabrics. These advanced materials offer superior strength and durability while reducing the overall weight of the tires, thereby improving fuel efficiency and reducing carbon emissions.

The increasing focus on sustainability and environmental regulations is encouraging manufacturers to invest in research and development of tire cord fabrics that are not only high-performing but also environmentally friendly. This trend is expected to create new opportunities for market players and drive further growth in the tire cord fabrics market. Furthermore, the rising demand for premium and luxury vehicles, which require high-quality tires with enhanced performance characteristics, is also propelling the market. As consumers continue to prioritize safety, performance and sustainability, the tire cord fabrics market is poised for significant growth in the coming years.

Will Fluctuations in Raw Material Prices Hinder the Growth of The Tire Cord Fabrics Market?

Fluctuations in raw material prices present a significant challenge to the growth of the tire cord fabrics market. The production of tire cord fabrics heavily relies on raw materials such as nylon, polyester, rayon and aramid. These materials are derived from petrochemical products, which are subject to volatile price changes due to fluctuating oil prices, supply chain disruptions and geopolitical tensions. When raw material prices surge, manufacturers face increased production costs, which can lead to higher prices for tire cord fabrics. This price volatility can affect the profitability of manufacturers and may force them to adjust their pricing strategies, potentially reducing their competitive edge in the market. Additionally, sudden price increases can impact the procurement strategies of tire manufacturers, leading to reduced demand for tire cord fabrics.

Moreover, supply chain disruptions, such as shortages of raw materials or transportation delays, can further exacerbate the issue, causing production bottlenecks and delays in delivery schedules. These challenges necessitate manufacturers to develop efficient risk management and cost-control strategies to mitigate the impact of raw material price fluctuations. However, persistent volatility in raw material prices remains a critical barrier to the consistent growth of the tire cord fabrics market.

Category-Wise Acumens

Will Nylon Cord Fabrics Continue to Dominate the Tire Cord Fabrics Market?

Nylon cord fabrics are estimated to continue dominating the tire cord fabrics market over the forecast period. The superior strength, elasticity and resistance to heat and wear make nylon an ideal material for tire reinforcement. Its widespread use in passenger cars and commercial vehicles is driving its demand. Additionally, ongoing innovations in nylon manufacturing processes are expected to enhance its properties and applications in the tire industry.

Moreover, the increasing emphasis on vehicle performance and safety standards is bolstering the adoption of nylon cord fabrics. The automotive industry’s shift towards high-performance tires that offer better durability and fuel efficiency further supports the dominance of nylon in this market segment.

The growth of the automotive sector in emerging economies, where cost-effective and durable tire solutions are in high demand, is also contributing to the sustained use of nylon cord fabrics. As these markets expand, the demand for high-quality, reliable tire materials like nylon is expected to rise significantly. Furthermore, advancements in recycling technologies for nylon are promoting its sustainable use, aligning with global environmental goals and regulations. This eco-friendly aspect of nylon cord fabrics enhances their appeal, ensuring their continued dominance in the tire cord fabrics market.

Will The Increasing Demand for Aircraft Tires Influence the Tire Cord Fabrics Market?

The growing demand for aircraft tires significantly influences the tire cord fabrics market. As the aviation industry experiences robust growth due to rising passenger traffic and an expanding global fleet of commercial and military aircraft, the need for high-performance tires is increasing. Aircraft tires require advanced materials, such as tire cord fabrics, to enhance durability, strength and resistance to extreme conditions. Tire cord fabrics play a critical role in ensuring the structural integrity and safety of aircraft tires by providing necessary reinforcement. The continuous advancements in tire cord fabric technologies, including the development of high-strength, lightweight materials like aramid and polyester, are crucial in meeting the stringent safety and performance standards required for aviation applications.

Furthermore, the trend towards larger aircraft and the increase in aircraft production rates drive the demand for superior tire materials that can withstand higher loads and stresses. As a result, tire manufacturers are focusing on integrating advanced tire cord fabrics to enhance tire performance, reduce maintenance costs, and improve overall safety. The expansion of the global aviation industry, coupled with technological advancements in tire cord fabrics, is expected to propel the growth of the tire cord fabrics market, particularly within the aircraft tire segment. This trend underscores the importance of ongoing innovation and the development of new materials to meet the evolving demands of the aviation sector.

Gain Access into Tire Cord Fabrics Market Report Methodology

Country/Region Wise Acumens

Will Stringent Regulations and Technological Advancements Propel North America to Lead the Tire Cord Fabrics Market?

In North America, particularly in the U.S. and Canada stringent regulations regarding vehicle safety and performance are driving the adoption of advanced tire cord fabrics. The presence of leading tire manufacturers and ongoing investments in R&D are propelling market growth. The focus on producing high-performance and durable tires for both passenger and commercial vehicles is positioning North America as a dominant player in the tire cord fabrics market. Additionally, the region’s emphasis on innovation and technological advancements in tire manufacturing processes is enhancing the quality and performance of tire cord fabrics. The integration of smart technologies and advanced materials is further boosting the capabilities of tire manufacturers to meet stringent safety and performance standards.

Moreover, the increasing demand for electric vehicles (EVs) in North America is contributing to the growth of the tire cord fabrics market. EVs require specialized tires that are lightweight yet durable, driving the need for advanced tire cord fabrics. The presence of a robust automotive industry and the region’s commitment to sustainability and energy efficiency are also supporting market expansion.

Furthermore, collaborations between tire manufacturers and research institutions are fostering the development of new and improved tire cord fabrics, ensuring that North America remains at the forefront of the global tire cord fabrics market. These factors collectively reinforce the region’s leading position in the industry.

Will Expanding Automotive Industry Play a Role in the Asia-Pacific Tire Cord Fabrics Market?

The Asia-Pacific region is witnessing rapid growth in the tire cord fabrics market, driven by the expanding automotive industry in countries like China, India and Japan. The increasing production of vehicles, coupled with rising consumer demand for high-quality tires, is propelling market growth. Additionally, investments in advanced tire manufacturing technologies and the presence of major tire manufacturers are enhancing the region’s market position. Furthermore, government initiatives supporting automotive sector expansion and infrastructure development are bolstering the demand for tire cord fabrics. The rise of electric vehicles (EVs) in the Asia-Pacific region is also contributing to market growth, as these vehicles require specialized tires that use advanced cord fabrics for improved performance and efficiency.

The region’s strong economic growth and increasing urbanization are leading to higher vehicle ownership rates, which in turn drives the demand for tires and tire cord fabrics. Moreover, collaborations between local and international tire manufacturers are fostering innovation and technology transfer, enhancing the overall quality and competitiveness of tire cord fabrics produced in the region. With a robust supply chain and increasing investments in research and development, the Asia-Pacific region is well-positioned to become a key player in the global tire cord fabrics market. The focus on sustainability and the adoption of eco-friendly manufacturing processes are further expected to drive market growth in this region.

Competitive Landscape

The competitive landscape of the tire cord fabrics market is characterized by the presence of prominent players, innovative startups, and technology providers offering a range of solutions to meet the evolving needs of the automotive industry. Key players in the market are focusing on technological advancements, strategic partnerships, and expanding their product portfolios to maintain a competitive edge. Companies offering robust and high-performance tire cord fabrics are prominently positioned.

Some of the prominent players operating in the tire cord fabrics market include

Hyosung Corporation, Kordsa Teknik Tekstil A.S., Kolon Industries Inc., SRF Limited, Teijin Limited, Firestone Fibers & Textiles Company, Toray Industries Inc., Indorama Ventures Public Company Limited, Milliken & Company, Cordenka GmbH & Co. KG.

Latest Developments

• In June 2023, Kordsa Teknik Tekstil A.S. introduced a new range of eco-friendly tire cord fabrics made from recycled materials, aiming to enhance sustainability in the tire industry.
• In August 2023, SRF Limited launched advanced aramid tire cord fabrics designed for high-performance and heavy-duty tires, targeting commercial vehicles and aircraft applications.
• In October 2023, Teijin Limited developed a new polyester tire cord fabric with enhanced tensile strength and durability, suitable for electric vehicle tires.

Report Scope

Tire Cord Fabrics Market, By Category

Material

• Nylon
• Polyester
• Rayon
• Aramid

Application

• Passenger Cars
• Commercial Vehicles
• Two-Wheelers
• Aircraft Tires

Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

Research Methodology of Market Research

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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