The global tire reinforcement materials market grew at a CAGR of around 5% during 2015-2020. Looking forward, the global tire reinforcement materials market to exhibit moderate growth during the next five years.
Tire reinforcement materials, such as beads and fabric cords, are widely utilized to provide high durability, stiffness, tensile strength, adhesion to rubber and compression modulus. These materials are employed depending on their cost, construction, chemical composition and the number of plies in tires.
For instance, steel cords find application in passenger car and truck radial tires to generate handling force, improve traction and enhance the overall tire performance. Moreover, beads manufactured using steel wires and additives are used as reinforcement materials. They are coated with alloys to provide resistance against load distortion, rim slippage and breakage during mounting.
At present, the demand for tire reinforcement materials is increasing worldwide as they keep tires in shape, support vehicle weight and improve the functionality of tires.
The escalating demand for run-flat and ultra-high-speed tires is positively influencing the adoption of textile cords in bicycles, earthmovers, heavy-duty trucks and space shuttle landing gear.
Moreover, as steel cords help reduce rolling resistance, increase tread life and improve fuel efficiency, they find application in sport utility vehicles (SUVs) and light truck (LT) tires.
Furthermore, the growing number of construction and mining activities are promoting the usage of tire reinforcement materials as they provide protection against punctures in off-the-road (OTR) vehicles.
The rising sales of automobiles, the introduction of super high tensile bead wires and stringent regulations implemented by governing agencies of various countries on the fuel economy of vehicles are some of the other factors anticipated to drive the market in the coming years.
Key Questions Answered in This Report:
How has the global tire reinforcement materials market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global tire reinforcement materials market?
What are the key regional markets?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the material type?
What is the breakup of the market based on the tire type?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global tire reinforcement materials market and who are the key players?
What is the degree of competition in the industry?
The competitive landscape of the industry has also been examined along with the profiles of the key players being
Century Enka Limited
Cordenka GmbH & Co. KG
Dupont De Nemours Inc.
Formosa Taffeta Co. Ltd.
Kolon Industries Inc.
Kordsa Teknik Tekstil
NV Bekaert S.A.
SRF Limited (Kama Holdings Ltd.)
Toray Industries Inc.
Toyobo Co. Ltd.
Key Market Segmentation
Breakup by Product Type:
Tire Cord Fabric
Tire Bead Wire
Breakup by Material Type:
Breakup by Tire Type:
Breakup by Vehicle Type:
Breakup by Application:
Breakup by Region:
Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/jdu1rs
View source version on businesswire.com: https://www.businesswire.com/news/home/20211202005614/en/
Laura Wood, Senior Press Manager
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