The manufacturing and the sales of vehicles across the world are increasing which is going to continue at a significant rate each year.
Sarasota, FL -- (SBWIRE) -- 04/18/2017 -- Zion Market Research, the market research group announced the analysis report titled "Tire Cord and Tire Fabrics Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"
Global Tire Cord and Tire Fabrics Market: Overview
The basic tire reinforcement material is tire cord that helps maintain the dimensions of the tire under diverse physical conditions thus being helpful in comfortable riding. The nylon tire cord is produced from high tenacity continuous filament yarn by using the processes such as plying and twisting which results in providing high strength, impact resistance, fatigue resistance, and high adhesion. The growth of the automotive industry depends upon the increasing disposable income across the world and the rising population.
Global Tire Cord and Tire Fabrics Market: Segmentation
The global tire cord and tire fabrics market is segmented into vehicle type, product type, and geography. On the basis of vehicle type, the market is segregated into heavy commercial vehicles, off-road vehicles, bicycles, personal vehicles, light commercial vehicles, and two-wheelers. Based on the product, the market is categorized into primarily steel cords, nylon dipped cords, polyester cords, rayon cords, and others. Geographical segmentation of the tire cord and tire fabrics market is diversified into North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa.
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Global Tire Cord and Tire Fabrics Market: Growth Factors
The manufacturing and the sales of vehicles across the world are increasing which is going to continue at a significant rate each year. This growing requirement of vehicles of different types is a clear indication of the rising global population and improving income in the urban areas along with their lifestyles. With the thriving automotive sector, the demand for the tires is also increasing which in turn is increasing the demand for the global tire cord and tire fabrics. Recently, the demand for technologically advanced tires with improved comfort and ride quality has increased and the market players in this market who are keen to invest in the research and development of the advanced fabrics has also increased thus contributing to the market growth. The environmental issues that occur due to disposing of worn-out tires is a factor that is significantly challenging the growth rate of the market.
Global Tire Cord and Tire Fabrics Market: Regional Analysis
The U.S. is the most profitable country for the tire cord and tire fabrics market owing to the factor that more than half of vehicles that are sold in the region of North America is majorly from the U.S. The economic downturn in the U.S. automotive market has improved significantly thus expecting to stimulate business growth in the North America. Asia Pacific region has huge population base this acts favorable for the market players to invest in this regional market. Developing economies such as India, China, Japan, and South Korea are the prime country-wide markets. European automotive sales are reducing due to slow GDP growth, and hence the market for tire cord and tire fabrics in Europe remains moderate.
Global Tire Cord and Tire Fabrics Market: Competitive Players
Some of the key market players that are involved in the tire cord and tire fabrics market are Firestone Fibers & Textile, Kolon Industries, Inc., Cordenka GmbH., Tokusen USA, Kordsa Global, SRF Ltd., Milliken & Co. Inc., Bekaert, Hyosung Corporation, and Kordarna Plus A.S.
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Global Tire Cord and Tire Fabrics Market: Regional Segment Analysis
The Middle East and Africa
What Reports Provides
Full in-depth analysis of the parent market
Important changes in market dynamics
Segmentation details of the market
Former, on-going, and projected market analysis in terms of volume and value
Assessment of niche industry developments
Market share analysis
Key strategies of major players
Emerging segments and regional markets
Testimonials to companies in order to fortify their foothold in the market.
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