Tire Cord Fabric Market Size, Share & Forecast 2025–2035
Tire Cord Fabric 2025 to 2035
The global tire cord fabric market is forecasted to reach a valuation of USD 9.1 billion by 2025 and expand further to USD 18.3 billion by 2035, reflecting a robust CAGR of 8.1% during the forecast period. This growth is underpinned by increasing demand in the automotive industry, advancements in tire manufacturing technologies, and the rising emphasis on sustainability.
Key Market Trends and Drivers
- Automotive Industry Growth: The expanding global automotive sector continues to be the primary driver, with tire cord fabric playing a crucial role in ensuring tire durability and performance.
- Technological Innovations: The development of high-performance materials such as aramid, hybrid fibers, and eco-friendly options enhances tire durability, safety, and fuel efficiency.
- Sustainability Focus: Rising environmental concerns have led manufacturers to adopt sustainable production methods, including the use of recycled and low-emission materials.
- Electric Vehicle (EV) Adoption: The growing popularity of EVs necessitates tires with specialized properties, fueling demand for advanced tire cord fabrics.
Market Segmentation of Tire Cord Fabric
| Category | Segment | CAGR (2025-2035) | Market Drivers |
|---|---|---|---|
| By Material Type | Polyester, Nylon, Rayon | 8.3% | Superior durability and cost-effectiveness. |
| By Application | Radial Tires, Bias Tires | 8.1% | Increased preference for fuel-efficient tires. |
| By End-Use | Passenger Cars, Commercial Vehicles | 8.0% | Rising vehicle production and ownership. |
| By Region | Asia-Pacific, North America | 8.5% | Industrialization and technological advancements. |
Regional Insights
- Asia-Pacific: Dominating the global market with a CAGR of 8.5%, driven by strong growth in automotive manufacturing in China, India, and Southeast Asia.
- North America: Expected to reach USD 6 billion by 2035, supported by advancements in EV and tire technologies.
- Europe: Growth is fueled by the adoption of sustainable practices and eco-friendly materials.
Challenges and Opportunities
- Raw Material Price Volatility: Fluctuations in the costs of nylon, polyester, and rayon affect profit margins.
- Eco-Friendly Innovations: Opportunities lie in the development of sustainable tire cord fabrics to meet regulatory requirements and consumer preferences.
Competitive Landscape
The tire cord fabric market is highly competitive, with key players focusing on innovation, strategic partnerships, and geographical expansion. Leading companies include:
- Kolon Industries, Inc.
- Kordsa Global, Inc.
- Hyosung Corporation
- Indorama Ventures
- SRF Ltd.
Competitive Analysis Includes:
- Market share and revenue insights.
- Evaluation of start-ups and SMEs.
- Strategic mergers and acquisitions.
Contact our advisory team to explore more about established and emerging players.
Frequently Asked Questions for Tire Cord Fabric
- What is the projected market size of the tire cord fabric industry by 2035?
- The market is expected to reach USD 18.3 billion.
- Which regions dominate the tire cord fabric market?
- Asia-Pacific and North America are leading growth regions.
- What are the primary applications of tire cord fabric?
- Radial tires, bias tires, and high-performance tire applications.
- Which materials are most commonly used?
- Polyester, nylon, and rayon dominate due to their superior performance characteristics.
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