TABLE 1 Global Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 2 Global Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 3 Global Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 4 Global Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 5 North America Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 6 North America Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 7 North America Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 8 North America Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 9 U.S. Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 10 U.S. Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 11 U.S. Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 12 U.S. Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 13 Canada Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 14 Canada Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 15 Canada Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 16 Canada Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 17 Rest of North America Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 18 Rest of North America Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 19 Rest of North America Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 20 Rest of North America Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 21 UK and European Union Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 22 UK and European Union Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 23 UK and European Union Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 24 UK and European Union Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 25 UK Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 26 UK Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 27 UK Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 28 UK Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 29 Germany Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 30 Germany Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 31 Germany Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 32 Germany Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 33 Spain Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 34 Spain Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 35 Spain Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 36 Spain Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 37 Italy Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 38 Italy Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 39 Italy Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 40 Italy Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 41 France Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 42 France Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 43 France Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 44 France Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 45 Rest of Europe Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 46 Rest of Europe Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 47 Rest of Europe Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 48 Rest of Europe Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 49 Asia Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 50 Asia Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 51 Asia Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 52 Asia Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 53 China Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 54 China Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 55 China Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 56 China Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 57 Japan Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 58 Japan Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 59 Japan Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 60 Japan Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 61 India Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 62 India Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 63 India Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 64 India Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 65 Australia Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 66 Australia Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 67 Australia Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 68 Australia Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 69 South Korea Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 70 South Korea Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 71 South Korea Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 72 South Korea Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 73 Latin America Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 74 Latin America Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 75 Latin America Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 76 Latin America Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 77 Brazil Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 78 Brazil Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 79 Brazil Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 80 Brazil Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 81 Mexico Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 82 Mexico Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 83 Mexico Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 84 Mexico Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 85 Rest of Latin America Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 86 Rest of Latin America Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 87 Rest of Latin America Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 88 Rest of Latin America Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 89 Middle East and Africa Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 90 Middle East and Africa Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 91 Middle East and Africa Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 92 Middle East and Africa Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 93 GCC Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 94 GCC Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 95 GCC Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 96 GCC Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 97 South Africa Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 98 South Africa Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 99 South Africa Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 100 South Africa Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 101 North Africa Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 102 North Africa Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 103 North Africa Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 104 North Africa Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 105 Turkey Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 106 Turkey Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 107 Turkey Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 108 Turkey Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
TABLE 109 Rest of Middle East and Africa Tire Cord Fabric Market By Material Type, 2022-2032, USD (Million)
TABLE 110 Rest of Middle East and Africa Tire Cord Fabric Market By Application, 2022-2032, USD (Million)
TABLE 111 Rest of Middle East and Africa Tire Cord Fabric Market By End Use, 2022-2032, USD (Million)
TABLE 112 Rest of Middle East and Africa Tire Cord Fabric Market By Sales Channel, 2022-2032, USD (Million)
Market Overview
The tire cord fabric market pertains to the realm of specialized fabrics used primarily as reinforcing materials in tires. These fabrics enhance the tire's performance characteristics by providing dimensional stability and controlling the deformation shape of tires under different conditions. Generally manufactured from high-strength materials such as nylon, polyester, rayon, and others, tire cord fabrics are essential for ensuring safety, performance, and longevity of tires. Tire Cord Fabric Market is estimated to grow at a CAGR of 6.9% from 2024 to 2032, influenced by evolving vehicle designs, sustainability drives, material cost dynamics, and technological innovations.
Tire Cord Fabric Market Dynamics
Driver: Growing Automotive Industry
The undeniable surge in the global automotive industry has been the main driver for the tire cord fabric market. As per World Bank data, the number of vehicles per 1,000 people has seen a consistent rise in the last two decades. With the mushrooming middle class in emerging economies, there has been a pronounced demand for passenger cars and other vehicles. This demand directly correlates with the need for high-quality tires, and by extension, tire cord fabrics. Additionally, the evolution of vehicles in terms of weight, speed, and design requires tire reinforcement to be stronger and more flexible. This has led manufacturers to invest more in R&D to create advanced tire cord fabrics that can withstand these demands. For instance, in 2019, a leading tire manufacturer introduced a new range of tires that boasted advanced cord fabric design, ensuring 15% more longevity than its predecessors.
Opportunity: Shift Towards Eco-friendly Materials
The global push towards sustainability has opened up significant opportunities in the tire cord fabric market. There has been a discernible shift in consumer preference towards eco-friendly vehicles, including electric and hybrid cars. These vehicles demand tires with different stress-resistance, flexibility, and performance characteristics. Recognizing this, manufacturers are exploring eco-friendly materials for tire cord fabrics that not only meet the performance requirements but also align with the sustainability ethos. A European tire company recently introduced a line of eco-friendly tires reinforced with sustainable tire cord fabrics made from recycled materials, receiving a positive market response.
Restraint: Volatility in Raw Material Prices
One of the primary restraints for the tire cord fabric market has been the volatility in raw material prices. Materials like nylon and polyester are derived from petrochemicals, the prices of which are notoriously unstable, given their link to crude oil prices. For instance, between 2017 and 2018, there was a 10% increase in nylon prices due to a spike in caprolactam costs, a key raw material. This kind of unpredictability often disrupts the production chain, making it challenging for manufacturers to maintain steady profit margins or predict costs.
Challenge: Emergence of Airless Tires
A noteworthy challenge emerging on the horizon is the development and potential mainstreaming of airless or non-pneumatic tires. These tires, made from advanced polymers, are designed to be puncture-proof, reducing the need for regular maintenance. Michelin, a prominent tire company, has been at the forefront of this innovation, unveiling its airless tire prototype recently. The proliferation of such tires could diminish the demand for traditional tire cord fabrics. Moreover, with big players investing in this technology, there's potential for a market shift, pressuring traditional tire cord fabric manufacturers to innovate or diversify.
Material Type Insights
By Material Type, in terms of revenue, Polyester remained dominant, credited to its properties of high tenacity, fatigue resistance, and its cost-effective nature compared to other materials. It's been a staple for standard passenger vehicle tires for decades. However, Aramid, with its exceptional strength-to-weight ratio and resistance to high temperatures, witnessed the Highest CAGR. This surge can be attributed to its increasing use in high-performance and off-road vehicle tires where durability and performance are paramount. Nylon and Polyamide followed closely due to their excellent abrasion resistance and flex fatigue properties. Rayon, once a dominant material in the sector, observed a decline due to the rise of other synthetics, although it's still preferred for certain high-speed applications due to its adhesion qualities.
Application Insights
In the Application segment, Radial Tires accounted for the highest revenue. Their construction provides them better durability and fuel efficiency, making them a favored choice for passenger cars and light trucks. On the other hand, High-performance Tires, designed for sports cars and high-speed applications, are expected to exhibit the highest CAGR from 2024 to 2032. The increasing popularity of motorsports and luxury vehicles, coupled with advancements in tire technology, is driving this growth. Bias Tires, with their rugged design, are predominantly used in heavy-duty applications, but their market share is on a gradual decline due to the advent and popularity of radial tires.
Regional Insights
Geographically, the Asia-Pacific region was the standout in 2023 in terms of revenue, primarily due to the expansive automotive industry in countries like China, India, and Japan. The presence of key tire manufacturers, combined with growing automotive demand, reinforces the region's dominance. Europe followed closely, with countries like Germany leading the charge, driven by its luxury car segment and their need for high-quality tire cord fabrics. However, in terms of CAGR from 2024 to 2032, the Middle East & Africa is expected to take the lead. This growth anticipation comes from its booming automotive market and increasing investments in infrastructural developments which would necessitate heavy-duty vehicles and, in turn, specialized tires.
Competitive Trends
In the competitive landscape, the market had been a playground for heavyweights like Indorama Ventures, Kordsa Teknik Tekstil, Hyosung Advanced Materials Corporation, Zhejiang Hailide New Material Co., Ltd., Shenma Industrial Co., Ltd., Zhejiang Unifull Industrial Fibre Co., Ltd., Kolon Industries, Wuxi Taiji Industry Co., Ltd., Far Eastern New Century Corporation, Oriental Industries (Suzhou) Ltd., KORDÁRNA Plus a.s. In 2023, strategies like mergers, acquisitions, and expansion of production capacities were evident. Kordsa Teknik Tekstil, for instance, expanded its operations in the Asia-Pacific region to cater to the growing demand. Moreover, there's been a notable push towards sustainable and eco-friendly tire cord fabrics, with companies investing heavily in R&D to derive materials from sustainable sources without compromising on quality. Moving forward, from 2024 to 2032, companies are expected to intensify their focus on sustainability, technology integrations, and cater to the demand from emerging markets.
