GLOBAL TIRE REINFORCEMENT MATERIALS MARKET FORECAST 2019-2027

  • You are here:
  • Home
  • Reports
  • GLOBAL TIRE REINFORCEMENT MATERIALS MARKET FORECAST 2019-2027

GLOBAL TIRE REINFORCEMENT MATERIALS MARKET FORECAST 2019-2027

For operating in challenging environments, tires assist a vehicle by providing traction, wear, and handling, while simultaneously helping to provide reduced rolling resistance for optimized fuel consumption. Tire reinforcement is required for stiffening tire components critical to cornering and handling. Reinforced materials include steel, polyester, rayon, nylon, and others. Global tire reinforcement materials market is estimated to grow with 3.67% of CAGR during the year 2019-2027. The base year considered for the study is 2018, and the estimated period is between 2019 and 2027. The most important driver in the market is the growing automotive industry. The automotive industry is growing due to the increased sales of passenger and commercial vehicles worldwide.

GLOBAL TIRE REINFORCEMENT MATERIAL MARKET FORECAST 2019-2027

Global Tire Reinforcement Materials Market by Type (Tire Cord Fabric, Tire Bead Wire) by Material (Steel, Polyester, Rayon, Nylon, Others) by Geography.

Request free sample

For operating in challenging environments, tires assist a vehicle by providing traction, wear, and handling, while simultaneously helping to provide reduced rolling resistance for optimized fuel consumption. Tire reinforcement is required for stiffening tire components critical to cornering and handling. Reinforced materials include steel, polyester, rayon, nylon, and others. Global tire reinforcement materials market is estimated to grow with 3.67% of CAGR during the year 2019-2027. The base year considered for the study is 2018, and the estimated period is between 2019 and 2027.

The following factors drive the growth of this market:

  • Growth in the automotive industry
  • Economic growth in the Asia Pacific
  • Enhanced properties of reinforced tires

To know more about this report, request a free sample copy.

The most important driver in the market is the growing automotive industry. The automotive industry is growing due to the increased sales of passenger and commercial vehicles worldwide. In terms of units, an estimated 89.68 million vehicles were sold in 2015. The number is expected to rise to 108.31 million by 2020. Rising per capita income and population growth are expected to increase the acceptance of vehicles. The global market for passenger vehicles is expected to grow, primarily driven by the improved economic conditions in developed countries such as the US and developing countries such as China and India. In APAC, growth in the passenger car segment is attributable to the increase in middle-class population, high disposable income and rise in the population of employed individuals. The global two-wheeler market consists of motorcycles, scooters, and mopeds. It is expected to reach almost 700 million units by 2020, growing at a CAGR of over 7%. The parameters, like the growth of the young population and improved economic growth, are driving the growth of the market during the forecast period. India, Vietnam, and Brazil are the major countries that account for the most significant demand for two-wheeler vehicles.

The largest segment by materials is steel. Steel cord fabric and tire bead wires are widely used in tires for passenger cars, buses, and trucks. In passenger car tires, the steel cord is used in the belt. In truck radial tires, steel cord is used both in the belt and in the carcass, and in OTR tires, it is used as a breaker for puncture protection. The steel cord is a significant component of tire reinforcement. It is stronger than the fiber materials. It provides excellent resistance to heat and fatigue.

The fastest segment by materials is nylon. Nylon is one of the strongest of the materials used for reinforcement. Nylon tire cords provide better strength, better fatigue resistance, higher toughness, and enhanced adhesion to rubber. These are used for reinforcing passenger radial tires. They also offer excellent resistance to moisture, high tenacity, and increases the durability of tires. Nylon tire cords are used for carcasses of truck and bus tires, off-the-road equipment, aircraft, and motorcycle tires and also for cap ply layers for improving performance in high-speed tires, special tires for airplane and general tires. The demand for nylon tire cord is expected to increase, driven by its use in developing countries, including China and India.

The restraints and challenges of the tire reinforcement materials market are dynamic prices of raw materials, rigid government regulations, and excess production capabilities in China. The most important is the stringent government regulations. Various rules are imposed on tire manufacturing, especially in developed regions, which is hindering the growth of the tire reinforcement materials market. Tire manufacturers that do not comply with the regulations are often subjected to fines and other remedial measures. For instance, under 112(d) of the Clean Air Act (CAA), the National Emission Standards for Hazardous Air Pollutants (NESHAP), new and existing manufacturing facilities of tires used in agricultural equipment, airplanes, and road vehicles such as cars, buses, and trucks are levied for emission reduction. The primary sources regulated by this act are rubber processing, the use of cement, solvents, and other mixtures in tire production; tire cord production; and puncture sealant applications. The directive aims to reduce toxic air emissions from solvents, cement, and other coating materials used for manufacturing tires by almost 1,100 tons yearly.

The report on the global tire reinforcement materials market includes segmentation based on type and materials.

Type is sub segmented into:

  • Tire cord fabric
  • Tire bead wire

Materials are sub segmented into:

  • Steel
  • Polyester
  • Rayon
  • Nylon
  • Others

Geographically, the global tire reinforcement materials market has been segmented based on four major regions, which includes:

  • North America: the United States & Canada
  • Europe: United Kingdom, Germany, France, Italy, Spain, Russia and Rest of Europe
  • Asia Pacific: India, China, Japan, South Korea, Australia and Rest of Asia Pacific
  • Rest of World: Latin America, Middle East & Africa

The Asia Pacific is the largest as well as the fastest market. The tire market in South East Asia is dominated by India with its vast manufacturing capabilities. MRF, JK Tires, and Apollo Tires are the largest tire manufacturers of tires in India. In China and India, the upsurge in the population and automotive industry is anticipated to pilot the market for tire reinforcement. Japan has a sophisticated market for tires, with Bridgestone being the country’s major manufacturer.

South Korea is also an essential market for tire reinforcement materials in APAC. Hankook, Kumho Tire, and Nexen are the notable tire manufacturers in the country. Australia and Sri Lanka are also considered the potential markets for tires. The market in these countries will grow considerably during the forecast period.

The major market players of the global tire reinforcement materials market are:

  • Bekaert
  • Century Enka Limited
  • Michelin
  • Toray Industries Inc
  • Kordsa Global
  • Dupont
  • Others

Market analysis and company profiles cover the study of important players. These companies are using organic and inorganic strategies for growth. For instance, in June 2018, A 55.5/44.5% of ArcelorMittal’s joint venture, Bekaert, Belgo Mineira Bekaert Artefatos de Arame Ltda (BMB) through their management have declared their subject to the expansion of the Itaúna plant in Minas Gerais, Brazil. In December 2018, Michelin acquired Camso after obtaining all of the necessary approvals for the transaction. In December 2018, Toray Industries enhanced the production capacity of ABS resin TOYOLAC, manufactured at and distributed by Toray Plastics (Malaysia) Sdn. Berhad.

Key Findings of the global tire reinforcement materials market:

  • Increase in automotive sales across different segments
  • Fluctuating costs of raw material
  • The rise in competition among tire manufacturers
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • INCREASE IN AUTOMOTIVE SALES ACROSS DIFFERENT SEGMENTS
      • FLUCTUATING COSTS OF RAW MATERIAL
      • RISE IN COMPETITION AMONG TIRE MANUFACTURERS
  1. MARKET DYNAMICS
    • MARKET SCOPE & DEFINITION
    • MARKET DRIVERS
      • GROWTH IN AUTOMOTIVE INDUSTRY
      • ECONOMIC GROWTH IN THE ASIA PACIFIC
      • ENHANCED PROPERTIES OF REINFORCED TIRES
    • MARKET RESTRAINTS
      • STRINGENT GOVERNMENT REGULATIONS
    • MARKET OPPORTUNITIES
      • EVOLUTION OF HIGH-PERFORMANCE TIRES
    • MARKET CHALLENGES
      • EVER CHANGING RAW MATERIAL PRICES
      • EXCESS PRODUCTION CAPABILITIES IN CHINA
  1. MARKET BY TYPE
    • TIRE CORD FABRIC
    • TIRE BEAD WIRE
  2. MARKET BY MATERIAL
    • STEEL
    • POLYESTER
    • RAYON
    • NYLON
    • OTHERS
  3. KEY ANALYTICS
    • PORTER’S FIVE FORCE MODEL
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE
      • BARGAINING POWER OF SUPPLIERS
      • BARGAINING POWER OF BUYERS
      • INTENSITY OF COMPETITIVE RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • ITALY
      • SPAIN
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • INDIA
      • CHINA
      • JAPAN
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPANY PROFILES
    • BEKAERT
    • CENTURY ENKA LIMITED
    • MICHELIN
    • FORMOSA TAFFETA CO. LTD.
    • HYOSUNG CORPORATION
    • SHENMA INDUSTRIAL CO. LTD.
    • TORAY INDUSTRIES INC.
    • KOLON INDUSTRIES INC.
    • KORDSA GLOBAL
    • DUPONT
    • TEIJIN LIMITED
    • SRF LIMITED
    • TOYOBO
    • CORDENKA GMBH
    • SHINKONG

TABLE LIST

TABLE 1:       GLOBAL TIRE REINFORCEMENT MATERIALS MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 2:       GLOBAL TIRE REINFORCEMENT MATERIALS MARKET, BY TYPE, 2019-2027, (IN $ MILLION)

TABLE 3:       GLOBAL TIRE CORD FABRIC MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 4:       GLOBAL TIRE BEAD WIRE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 5:       GLOBAL TIRE REINFORCEMENT MATERIALS MARKET, BY MATERIAL, 2019-2027, (IN $ MILLION)

TABLE 6:       STEEL CORD FILAMENTS AND ITS TENSILE STRENGTHS

TABLE 7:       GLOBAL STEEL TIRE REINFORCEMENT MATERIALS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 8:       GLOBAL POLYESTER TIRE REINFORCEMENT MATERIALS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 9:       GLOBAL RAYON TIRE REINFORCEMENT MATERIALS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 10:     GLOBAL NYLON TIRE REINFORCEMENT MATERIALS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 11:     GLOBAL OTHERS TIRE REINFORCEMENT MATERIALS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 12:     OPPORTUNITY MATRIX

TABLE 13:     VENDOR LANDSCAPE

TABLE 14:     GLOBAL TIRE REINFORCEMENT MATERIALS MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 15:     NORTH AMERICA TIRE REINFORCEMENT MATERIALS MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 16:     EUROPE TIRE REINFORCEMENT MATERIALS MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 17:     ASIA PACIFIC TIRE REINFORCEMENT MATERIALS MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 18:     REST OF WORLD TIRE REINFORCEMENT MATERIALS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

FIGURE LIST

FIGURE 1:     GLOBAL TIRE REINFORCEMENT MATERIALS MARKET, BY MATERIAL, 2018 & 2027 (IN %)

FIGURE 2:     GLOBAL MOTOR VEHICLE SALES 2015-2020 (MILLIONS OF UNITS)

FIGURE 3:     GLOBAL PASSENGER VEHICLE SALES 2015-2020 (MILLIONS OF UNITS)

FIGURE 4:     GLOBAL COMMERCIAL VEHICLE SALES 2015-2020 (MILLIONS OF UNITS)

FIGURE 5:     DEMAND FOR MOTORCYCLE TIRES BY VOLUME 2016-2021(%)

FIGURE 6:     GLOBAL MARKET ESTIMATES FOR HYBRID, PLUG-IN HYBRID, AND ELECTRIC VEHICLES 2015 AND 2020 (UNITS)

FIGURE 7:     REAL GDP GROWTH RATE FOR MAJOR COUNTRIES IN ASIA PACIFIC 2014 AND 2015 (%)

FIGURE 8:     PRICE OF RUBBER JANUARY 2016 TO JULY 2016 (US CENTS PER POUND)

FIGURE 9:     GLOBAL TIRE REINFORCEMENT MATERIALS MARKET, BY TIRE CORD FABRIC, 2019-2027 (IN $ MILLION)

FIGURE 10:  GLOBAL TIRE REINFORCEMENT MATERIALS MARKET, BY TIRE BEAD WIRE, 2019-2027 (IN $ MILLION)

FIGURE 11:  GLOBAL TIRE REINFORCEMENT MATERIALS MARKET, BY STEEL, 2019-2027 (IN $ MILLION)

FIGURE 12:  GLOBAL TIRE REINFORCEMENT MATERIALS MARKET, BY POLYESTER, 2019-2027 (IN $ MILLION)

FIGURE 13:  GLOBAL TIRE REINFORCEMENT MATERIALS MARKET, BY RAYON, 2019-2027 (IN $ MILLION)

FIGURE 14:  GLOBAL TIRE REINFORCEMENT MATERIALS MARKET, BY HARDWARE, 2019-2027 (IN $ MILLION)

FIGURE 15:  GLOBAL TIRE REINFORCEMENT MATERIALS MARKET, BY OTHERS, 2019-2027 (IN $ MILLION)

FIGURE 16:  PORTER’S FIVE FORCE ANALYSIS

FIGURE 17:  GLOBAL TIRE REINFORCEMENT MATERIALS MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)

FIGURE 18:  UNITED STATES TIRE REINFORCEMENT MATERIALS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 19:  CANADA TIRE REINFORCEMENT MATERIALS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 20:  UNITED KINGDOM TIRE REINFORCEMENT MATERIALS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 21:  GERMANY TIRE REINFORCEMENT MATERIALS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 22:  FRANCE TIRE REINFORCEMENT MATERIALS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 23:  ITALY TIRE REINFORCEMENT MATERIALS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 24:  SPAIN TIRE REINFORCEMENT MATERIALS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 25:  RUSSIA TIRE REINFORCEMENT MATERIALS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 26:  REST OF EUROPE TIRE REINFORCEMENT MATERIALS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 27:  INDIA TIRE REINFORCEMENT MATERIALS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 28:  CHINA TIRE REINFORCEMENT MATERIALS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 29:  JAPAN TIRE REINFORCEMENT MATERIALS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 30:  SOUTH KOREA TIRE REINFORCEMENT MATERIALS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 31:  AUSTRALIA TIRE REINFORCEMENT MATERIALS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 32:  REST OF ASIA PACIFIC TIRE REINFORCEMENT MATERIALS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 33:  LATIN AMERICA TIRE REINFORCEMENT MATERIALS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 34:  MIDDLE EAST & AFRICA TIRE REINFORCEMENT MATERIALS MARKET, 2019-2027 (IN $ MILLION)

  1. MARKET BY TYPE
    • TIRE CORD FABRIC
    • TIRE BEAD WIRE
  2. MARKET BY MATERIAL
    • STEEL
    • POLYESTER
    • RAYON
    • NYLON
    • OTHERS
  3. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • ITALY
      • SPAIN
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • INDIA
      • CHINA
      • JAPAN
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

To request a free sample copy of this report, please complete the form below :

We offer 10% free customization including country-level data, niche applications and competitive landscape with every report.

Choose License Type

Buy Now