Polyester Tire Cord Fabrics Market Size (2024 - 2029)

Market Size of Polyester Tire Cord Fabrics Industry

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Study Period - Base Year For Estimation Forecast Data Period - CAGR 4.00 % Fastest Growing Market Asia-Pacific Largest Market Asia-Pacific Market Concentration High

Major Players

*Disclaimer: Major Players sorted in no particular order

Polyester Tire Cord Fabric Market Analysis

The Global Polyester Tire Cord Fabrics Market accounted for around 650 kilo tons in and the market is projected to register a CAGR of over 4% during the forecast period (-). 

The market was negatively impacted by COVID-19 in . Due to the COVID-19 outbreak in the first half of , the automotive industry was significantly affected. This, in turn, has unfavorably impacted the consumption of polyester tire cord fabrics. The market is projected to grow steadily as vehicle production observed growth in .

• Over the short term, growing adoption of polyester tire cord fabrics in passenger cars, coupled with increasing preference for fuel efficient tires in the emerging economies are some of the driving factors which are stimulating the market demand.
• However, fluctuating prices of raw materials for polyester tire cord fabrics and high costs associated with the installed and maintenance of production facility are major factors hindering growth of the target market.
• Nevertheless, increasing demand for eco-friendly polyester tire cord fabrics from automotive are likely to create lucrative growth opportunities for the global market over the forecast period.
• Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period. This growth is attributed to rise in the production of cars in China, India, and Japan.

Polyester Tire Cord Fabric Industry Segmentation

Polyester tire cord fabrics are a class of reinforcing materials produced with superior quality yarns. It is manufactured by various processes, including polymerization, extraction, drying, melt spinning to produce tire yarn, and preparation of cord from tire yarn by twisting and plying. Polyester tire cord fabrics are incorporated into the production processes to reinforce all types of radial and biased tires, including medium, heavy-duty, and light commercial tires. The polyester tire cord fabrics market is segmented by tire type, application, and geography. By tire type, the market is segmented into radial tires and biased tires. By application, the market is segmented into passenger cars, commercial vehicles, and other applications. The report also covers the market size and forecasts for the polyester tire cord fabrics market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on volume (kilo tons) and value (USD Million).

Tire Type

Radial Tire

Biased Tire

Application

Passenger Cars

Commercial Vehicles

Other Applications

Geography Asia-Pacific China India Japan South Korea Rest of Asia-Pacific North America United States Canada Mexico Europe Germany United Kingdom Italy France Rest of Europe South America Brazil Argentina Rest of South America Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa

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Polyester Tire Cord Fabrics Market Size Summary

The polyester tire cord fabrics market is experiencing a steady growth trajectory, driven by the increasing adoption of these materials in passenger cars and the rising demand for fuel-efficient tires, particularly in emerging economies. The market, which faced challenges due to the COVID-19 pandemic, is rebounding as vehicle production picks up. Polyester tire cord fabrics are valued for their superior properties, such as high dimensional stability, heat resistance, and controllability, making them ideal for enhancing tire strength and efficiency. The passenger car segment remains the dominant application, with the growing penetration of electric vehicles and rising disposable incomes further fueling demand. However, the market faces challenges from fluctuating raw material prices and high production costs, which could hinder growth.

The Asia-Pacific region is poised to maintain its dominance in the polyester tire cord fabrics market, driven by robust demand from the automotive sector in countries like China, India, and Japan. The region's growth is supported by the increasing production of fuel-efficient and electric vehicles, along with a strong replacement tire industry. Key players in the region are expanding their production capacities to meet the rising demand, with significant investments in new facilities. The market's consolidated nature sees major companies like Kordsa Teknik Tekstil A.S., Indorama Ventures Public Company Limited, and Kolon Industries Inc. leading the charge. These developments, coupled with favorable regulatory frameworks and growing consumer preferences for sustainable automotive solutions, are expected to propel the market's growth over the forecast period.

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Polyester Tire Cord Fabrics Market Size - Table of Contents

1. 1. MARKET DYNAMICS

   1. 1.1 Drivers

      1. 1.1.1 Rising Demand for Passenger Cars in the Emerging Economies

      2. 1.1.2 Increasing Preference for Fuel Efficient Tires

   2. 1.2 Restraints

      1. 1.2.1 The Fluctuating Prices of Raw Materials

      2. 1.2.2 Other Restraints

   3. 1.3 Industry Value-Chain Analysis

   4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

2. 2. MARKET SEGMENTATION

   1. 2.1 Tire Type

      1. 2.1.1 Radial Tire

      2. 2.1.2 Biased Tire

   2. 2.2 Application

      1. 2.2.1 Passenger Cars

      2. 2.2.2 Commercial Vehicles

      3. 2.2.3 Other Applications

   3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

         1. 2.3.1.1 China

         2. 2.3.1.2 India

         3. 2.3.1.3 Japan

         4. 2.3.1.4 South Korea

         5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

         1. 2.3.2.1 United States

            Further reading:
            Are You Struggling with Polyester Yarn's Durability and Maintenance Issues?

            If you want to learn more, please visit our website sft.

         2. 2.3.2.2 Canada

         3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

         1. 2.3.3.1 Germany

         2. 2.3.3.2 United Kingdom

         3. 2.3.3.3 Italy

         4. 2.3.3.4 France

         5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

         1. 2.3.4.1 Brazil

         2. 2.3.4.2 Argentina

         3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

         1. 2.3.5.1 Saudi Arabia

         2. 2.3.5.2 South Africa

         3. 2.3.5.3 Rest of Middle-East and Africa

Polyester Tire Cord Fabrics Market Size FAQs

What is the current Polyester Tire Cord Fabrics Market size?

The Polyester Tire Cord Fabrics Market is projected to register a CAGR of greater than 4% during the forecast period (-)

Who are the key players in Polyester Tire Cord Fabrics Market?

Kordsa Teknik Tekstil A.S., Indorama Ventures Public Company Limited, Kolon Industries Inc., HYOSUNG and SRF Limited are the major companies operating in the Polyester Tire Cord Fabrics Market.

DUBLIN , Jan. 2, /PRNewswire/ -- The "Global Tire Cord Fabrics Market Size, Share & Trends Analysis Report by Material (Nylon, Polyester), Tire Type (Radial, Bias), Vehicle Type, Application, Region, and Segment Forecasts, -" report has been added to ResearchAndMarkets.com's offering.

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The global tire cord fabrics market size is expected to reach USD 6.94 billion by , expanding at a CAGR of 3.3% from to , according to the report. Growing product utilization to reduce the overall weight of the tire and to improve its wear resistance and dimensional stability are projected to drive the market growth.

Emerging economies such as India, China, Vietnam, and Indonesia are generating a huge demand for passenger cars and thereby tires, owing to rising per capita income levels in these countries. Moreover, the presence of major tire manufacturing capacities in these countries is further driving the market for tire cord fabrics in these countries.

Nylon, polyester, and rayon are some of the most commonly used materials for manufacturing of tire cord fabrics. Tire cord fabric reinforced rubber plies provide superior dimensional stability, durability, and load-carrying capacity to the tires. However, aramid fiber-based fabrics are witnessing rising adoption owing to its higher strength and low weight.

Major manufacturers are making increasing use of hybrid cord fabrics that comprise two different materials with different initial tangent modulus. These fabrics are progressively replacing steel cord based fabrics in the high-performance tires owing to their comparable performance characteristics and relatively lightweight property.

Tire Cord Fabrics Market Report Highlights

• The commercial vehicle type segment is projected to expand at a notable CAGR over the projected period. on account of increasing product use in the production of wear resistant tires with superior load carrying capacity

• The passenger cars segment accounted for the largest revenue share of 78.6% in and is further expected to expand at the fastest CAGR of 3.5% through

• Increased consumer awareness about the rolling resistance and growing demand for radial tires are some of the major factors driving segment growth.

• Manufacturers are continually expanding their geographic footprint in the major tire manufacturing countries across the world and cater to the just-in-time manufacturing needs of the tire manufacturing companies

Company Profiles

• Indorama Ventures Public Company Limited

• Kolon Industries Inc.

• SRF Ltd.

• TEIJIN LIMITED

• Century Enka Limited

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights

Chapter 3. Tire Cord Fabrics Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Value Chain Analysis
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market driver analysis
3.5.2. Market restraint analysis
3.5.3. Industry opportunities & challenges
3.6. Tire Cord Fabrics Market Analysis Tools
3.6.1. Industry analysis - Porter's Five Forces
3.6.2. PESTEL analysis

Chapter 4. Supplier Portfolio Analysis
4.1. List of Suppliers
4.2. Kraljic Matrix
4.3. Sourcing Best Practices
4.4. Negotiation Strategies

Chapter 5. Tire Cord Fabrics Market: Material Estimates & Trend Analysis
5.1. Tire Cord Fabrics Market: Key Takeaways
5.2. Tire Cord Fabrics Market: Material Movement & Market Share Analysis, &
5.3. Nylon
5.3.1. Nylon market estimates and forecasts, to (Kilo Tons, USD Million)
5.4. Polyester
5.5. Rayon
5.6. Others

Chapter 6. Tire Cord Fabrics Market: Tire Type Estimates & Trend Analysis
6.1. Tire Cord Fabrics Market: Key Takeaways
6.2. Tire Cord Fabrics Market: Tire Type Movement & Market Share Analysis, &
6.3. Radial
6.4. Bias

Chapter 7. Tire Cord Fabrics Market: Vehicle Type Estimates & Trend Analysis
7.1. Tire Cord Fabrics Market: Key Takeaways
7.2. Tire Cord Fabrics Market: Vehicle Type Movement & Market Share Analysis, &
7.3. Passenger Cars
7.4. Commercial Vehicles

Chapter 8. Tire Cord Fabrics Market: Application Estimates & Trend Analysis
8.1. Tire Cord Fabrics Market: Key Takeaways
8.2. Tire Cord Fabrics Market: Application Movement & Market Share Analysis, &
8.3. OEM
8.4. Replacement

Chapter 9. Tire Cord Fabrics Market: Regional Estimates & Trend Analysis
9.1. Regional Outlook
9.2. Tire Cord Fabrics Market by Region: Key Takeaways

Chapter 10. Competitive Landscape
10.1. Recent Developments & Impact Analysis, By Key Market Participants
10.2. Market Participant Categorization
10.2.1. Company overview
10.2.2. Financial performance
10.2.3. Product benchmarking
10.2.4. Strategic initiatives

For more information about this report visit https://www.researchandmarkets.com/r/orrhio

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