Sunday, 26 May 2019 07:43 GMT
img

Tire Cord Fabrics Market by Material, Tire Type, Application, Vehicle Type - Global Forecast to 2023




(MENAFN - iCrowdNewsWire) iCrowd Newswire - May 15, 2019

According to the new market research report " Tire Cord Fabrics Market by Material (Nylon, Polyester, Rayon, Aramid, Polyethylene Napthalate), Tire Type (Radial Tire, Bias Tire), Application (OEM, Replacement), Vehicle Type (Passenger Cars, Commercial Vehicles) - Global Forecast to 2023″, The tire cord fabrics market is projected to reach USD 6.4 billion by 2023, at a CAGR of 5.59% from USD 4.9 billion in 2018.


Don't miss out on business opportunities in Tire Cord Fabrics Market


Speak to our analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=107595988


The tire cord fabrics market size is projected to reach USD 6.4 billion by 2023, at a CAGR of 5.59% between 2018 and 2023. Tire cord fabrics are located in the inner part of the tire and are primarily used for the belt and carcass parts. They help in easing the pressure and shock and extending the life of tires. They are designed to keep tires in shape and support the vehicle weight. The use of these fabrics has a significant impact on tire performance. In the manufacturing process of tire cord fabrics, after polymerization and spinning, nylon and polyester yarns are twisted and woven into fabrics. After this, an adhesive solution called latex is added to the fabrics to increase bonding between the fabrics and the rubber. Finally, the textile is heat-treated to improve the dimensional stability of tire cord fabrics.


Consumers are increasingly concerned about worsening environmental conditions and global warming. The European and North American countries are following stringent emission regulations such as Euro VI and CAFE, which encourages the tire manufacturers to focus on the development of eco-friendly tire cord fabrics. Eco-friendly tire cord fabrics have low rolling resistance and also provide better grip, safety, mileage, durability, resistance to abrasion, and reduced noise. Tier-1 manufacturers are switching from petroleum-based materials to eco-friendly materials. Tire makers are using chemically manufactured natural fabrics, oil extracted from vegetables, and fibers derived from plant cellulose to save on the consumption of petroleum. The increasing demand for eco-friendly tire cord fabrics will provide opportunities to the tire cord manufacturers. Many players in the market are innovating to come up with eco-friendly tire cord fabrics. For instance, Kordsa developed eco-friendly tire cord with a technology, which enabled the use of more environment-friendly chemicals as compared to harmful chemicals such as resorcinol-formaldehyde, which has always been used in the production of tire cord fabrics.


Browseand in-depth TOC on "Tire Cord Fabrics Market"


100 Tables
46 Figures
129 Pages


View more detailed TOC @ https://www.marketsandmarkets.com/Market-Reports/tire-cord-fabrics-market-107595988.html


The tire cord fabrics market size is estimated to be USD 4.9 billion in 2018 and is projected to reach USD 6.4 billion by 2023, at a CAGR of 5.59% between 2018 and 2023. Increase in vehicle usage globally is contributing to the growth of the market. The cost-sensitiveness of the automotive industry is the key challenge in the tire cord fabrics market. On the other hand, growing demand for eco-friendly tire cord fabrics has created various opportunities for manufacturers.


The players in the tire cord fabrics market are mainly concentrating on new product launches, acquisitions, and expansions to meet the growing demand for tire cord fabrics from various applications. New product launches help companies strengthen their product portfolio and meet the specific demands of customers.


The growth of the tire cord fabrics market has been largely influenced by new product launches, acquisitions, and expansions that took place between 2014 and 2018. Companies such as Indorama Ventures Company Limited (Thailand), Kolon Industries Inc. (South Korea), Hyosung Corporation (South Korea), Kordsa Teknik Tekstil A.S. (Turkey), Teijin Limited (Japan), and Toray Industries Inc. (Japan) adopted acquisitions, expansions, and new product launches to enhance their product offerings.


Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=107595988


Indorama Ventures Public Company Limited is one of the leading players in the tire cord fabrics market. The company, through its wide range of product portfolio, is able to cater to specific needs of end customers. The company, through its innovative products & solutions, has been able to serve a wide range of end customers. The company has made a large number of acquisitions, which has enabled it to strengthen its position in the tire cord fabrics market. For instance, the company acquired Kordarna Plus S.A. The acquisition will help the companies broaden their product portfolio and strengthen their position in the market.


Kordsa is into developing eco-friendly products, which has enabled it to stay competitive and cater to the specific needs of customers and adhere to the regulations. For instance, Kordsa developed eco-friendly tire cord with a technology, which enabled the use of more environment-friendly chemicals as compared to harmful chemicals such as resorcinol-formaldehyde, which have always been used in the production of tire cord fabrics. The company is also continually expanding to widen its geographic reach. For instance, Kordsa established its second tire cord fabric and polyester yarn facility in Indonesia. It is opening two new plants including an 18-kiloton tire cord fabric plant and a 14-kiloton 3rd and 4th generation polyester HMLS yarn plant. This would enable the company to expand its geographic reach in the APAC region.


Browse Adjacent Markets @ Chemicals Market Research Reports & Consulting


About MarketsandMarkets™


MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.


Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.


MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


Contact:


Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/tire-cord-fabrics-market.asp
Visit Our Website: https://www.marketsandmarkets.com




Contact Information:
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

Email: [email protected]



MENAFN1505201900703403ID1098526220


Tire Cord Fabrics Market by Material, Tire Type, Application, Vehicle Type - Global Forecast to 2023

  Most popular stories  

Day | Week | Month