Visiongain Publishes Tire Cord Market Report 2020-2030
28 September 2020
Visiongain has launched a new report Tire Cord Market Report : Forecasts by Product (Bias Tires and Radial Tires), by Material (Nylon, Polyester, Rayon, Others), End-use (OEM and Replacement), and Geography, and Profiles of Leading Companies.
The global Tire Cord market size is projected to cross in 2020, US$ xx billion and is anticipated to increase at a rate of xx per cent between 2020 and 2030. Strong growth for passenger vehicles in emerging economies combined with increased supply for resilient, fuel-efficient wheels is permitted to spur market over the forecast period. Increasing electric car concentration is believed to have a positive effect on demand. Conventional tires wear on electric vehicles (EV) about 30 per cent faster than conventional vehicles. Therefore, aramid fibers are used by producers to create highly light and wear-resistant tires unique to the electric vehicle industry. The fabric of nylon tire cords continues to dominate the US retail sector. Wide-ranging commodity use in the manufacture of light, wear-resistant passenger vehicle tyres, Sports Utility Vehicles (SUVs), pickups and aeroplanes is projected to be the primary engine of development in the years ahead.
Rising emphasis on reducing carbon emissions in combination with increased competition for economic-fuel-efficient cars are among the factors that will drive market growth during the forecast period. Nonetheless, the tendency for withdrawal in the segment of commercial vehicles over the forecast period is expected to have a negative effect on business development.
Nylon tire cord fibers are commonly used in the manufacture of high wear resistant tires needed for commercial usage. Aircraft tires, farm tires, truck tires are some of the types of tires that are made using nylon. In addition, due to its lower moisture it preferred the manufacture of wet condition tyres to reclaim the land.
OEM segment is expected to rise significantly over the forecast period. Increasing focus on reducing vehicle emissions coupled with the introduction of strict emission standards is driving demand for lower rolling resistance fuel-efficient tires. In addition, demand for motorcycles in continents of Asia and Africa is expected to further fuel the market. These players are competing based on the price of the goods and their geographical scope. In addition, these players are implementing formaldehyde-free adhesives to reduce their impact on the environment. The market 's key players are making significant investments in R&D activities to reduce the weight of the product and improve its wear resistance. They are working actively with major tire manufacturers to develop specific products for application. They also concentrate on acquiring smaller players, in order to increase their market share
Also, the research study offers market estimation and forecast for the period ranging 2020-2030 for global markets such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, India, Japan, China.
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