Tire Cord and Tire Fabrics Consumption Market Synopsis:
In this report, LP Information covers the present scenario with the base year being 2017 and the growth prospects of global Tire Cord and Tire Fabrics market for 20182023.
Tire is one of the most complex engineered products requiring a range of raw materials such as natural rubber, artificial rubber, carbon black, cord fabric, steel and different chemicals.
Tire Cord and Tire Fabrics are reinforcing materials in the tire, providing it with dimensional stability and acting as supports for the vehicle weight. These also help to keep tires in shape in different road conditions. Tire Cord and Tire Fabrics are very important for the performance of a tire, and as a result for the vehicle as well. Different types of reinforcement constructions are required for different types of vehicles, and this depends on their respective uses and loadbearing requirements.
Economic growth in emerging countries in Asia Pacific has led to higher personal vehicle ownership, which in turn has benefitted the tire fabrics market. Additionally, with the reviving U.S. economy and improved job market, consumer spending is increasing, thus benefitting automobiles and its allied industries.
Unfavorable road conditions and burgeoning production of commercial vehicles in Asia Pacific is spurring demand for nylon tire fabrics. In 2015, Asia Pacific held more than 66%of the global tire fabrics production market and over 45%of the consumption market. In the region, high GDP growth, combined with increasing purchasing power in countries such as India, China, Indonesia, and Malaysia, has led to increasing demand for commercial and personal vehicles. This in turn has translated into increasing demand for ancillary products such as tire fabrics. North America trails Asia Pacific in the demand for tire fabrics and is followed by Europe. Though Europe is an established base of reputed automobile manufacturers, other regions, particularly Asia Pacific, are the major markets for European automobiles.
In 2015 the Rest of the World region accounted for the smallest market share in the tire fabrics market. However, increasing demand for automobiles in the region will be beneficial for the tire fabrics market in coming years.
Over the next five years, LPILP Information projects that Tire Cord and Tire Fabrics will register a 2.4% CAGR in terms of revenue, reach US$ 5630 million by 2023, from US$ 4890 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Tire Cord and Tire Fabrics market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Nylon Tire Cord and Fabrics
Polyester Tire Cord and Fabrics
Segmentation by application:
Radial Tire semisteel
This report also splits the market by region:
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
Kordarna Plus A.S.
Milliken & Company
Far Eastern Group
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Tire Cord and Tire Fabrics consumption value & volume by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Tire Cord and Tire Fabrics market by identifying its various subsegments.
Focuses on the key global Tire Cord and Tire Fabrics manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Tire Cord and Tire Fabrics with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market growth potential, opportunities, drivers, industryspecific challenges and risks.
To project the consumption of Tire Cord and Tire Fabrics submarkets, with respect to key regions along with their respective key countries.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.