Jan. 06, 2025
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Global Polyester Tire Cord Fabrics Market Overview
The Polyester Tire Cord Fabrics Market Size was estimated at 4.01 (USD Billion) in .The Polyester Tire Cord Fabrics Industry is expected to grow from 4.09(USD Billion) in to 4.87 (USD Billion) by . The Polyester Tire Cord Fabrics Market CAGR (growth rate) is expected to be around 1.97% during the forecast period ( - ).
There is a continuous change in automotive practices through technological advances and consumer demand for lightweight, fuel-efficient vehicles that require the use of polyester tire cord fabrics. Also, environmental sustainability awareness and strict emission regulations have boosted their adoption.Polyester tire cord fabrics are increasingly being used in specialty tires like those of off-road vehicles and heavy machinery. Hence, there are many opportunities in the market. Moreover, expanding the automobile industry in developing countries also offers significant growth prospects for the market.Furthermore, new trends in this market include the fabrication of high-performance materials with increased tensile strength, durability, and resistance to heat. At the same time, innovations in production techniques, as well as the adoption of advanced technology such as automation processes and data analytics, have changed the direction of business operations. Alternatively, increasing emphasis on lowering manufacturing costs while enhancing efficiency has created space for cheap, eco-friendly solutions by players in this market segment.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The automotive industry is continuously striving to reduce the weight of vehicles to improve fuel efficiency and reduce emissions. Polyester tire cord fabrics are significantly lighter than traditional materials such as steel, making them an attractive option for manufacturers. The increasing demand for lightweight vehicles is expected to drive the growth of the Polyester Tire Cord Fabrics Market Industry over the forecast period.
As a result of their environmental advantages and reduced running costs, electric vehicles are increasing in popularity. These polyester tire cord fabrics for electric cars have a low rolling resistance that can help extend the vehicle&#;s single-charge range. The increased acceptance of electric vehicles is anticipated to create substantial demand for polyester tire cord fabrics in the near future.
Safety is a paramount concern in the automotive industry. Polyester tire cord fabrics offer superior strength and durability compared to traditional materials, making them an ideal choice for tires that need to withstand high loads and speeds. The rising safety concerns among consumers are expected to drive the demand for polyester tire cord fabrics in the Polyester Tire Cord Fabrics Market Industry.
The Polyester Tire Cord Fabrics Market is segmented by raw material into Polyethylene Terephthalate (PET), Polyethylene Naphthalate (PEN), Polybutylene Terephthalate (PBT), and Polytrimethylene Terephthalate (PTT). Within these, PET is the most widely used raw material for polyester tire cord fabrics in , representing over 90% of the market share. The reason behind this dominance is its higher strength, durability, and cheaper cost. This synthetic polymer results from a condensation reaction between terephthalic acid and ethylene glycol.
It has excellent mechanical properties, which make it suitable for application in high-performance products such as tire reinforcement. Tire cords made of PET have high tensile strength, modulus, and impact resistance, which allows them to endure the severe conditions involved in operating a tire. In addition, it is inexpensive to produce, contributing to its extensive use in the tire industry. However, PEN offers greater strength and modulus than PET and costs more than it does. Tires made of PEN-based tire cord fabrics are thus very durable, making them ideal for racing or performance passenger car applications.
However, PEN is more costly than PET; hence, it finds niches where superior performance is demanded only. Polyester tire cord fabrics rely on other synthetic polymers called PBT and PTT. PBT provides moderate strength at a moderate cost when compared with both PET & PEN.PTT, however, uses bio-based polymers obtained from renewable sources while having properties similar to PET and with lower environmental impact. Tire cord fabric containing PBT or PTT is expected to grow soon due to environmental concerns and community sensitization towards green materials.
In the next few years ahead, the Polyester Tire Cord Fabrics Market will experience steady growth due to rising demand for automotive industry tires. Companies producing electric vehicles will also boost demand for polyester tire cords by requiring tires that possess low rolling friction and are highly durable. This result may also be supported by the growing use of polyester tire cord fabrics among emerging economies, especially where there are increasing demand rates for cheap but long-lasting tires.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
As we move to , the Construction segment is targeted to gain a considerable percentage of the Polyester Tire Cord Fabrics Market and continue growing through the forecasted period. The growth of this market segment is facilitated by an increasing demand for new construction projects, particularly in developing regions. Twisted Polyester Tire Cord Fabrics are created by twisting together multiple filaments of polyester.
They have high strength and durability, which makes them ideal for use in demanding applications such as bridges and skyscrapers. When manufacturing Parallel Polyester Tire Cord Fabrics, polyester filaments are aligned parallel to each other. They possess low elongation yet high modulus; therefore, they can be used where dimensional stability is important, like on roads or pavements. Cross-ply polyester tire cord fabrics involve weaving polyester filaments in a criss-cross manner to make it a compact fabric. As a result, they combine both strength and elasticity, which makes them useful for walls or roofs.
Different types of polyester, such as twisted filaments that enhance breaking strength coupled with parallel filaments that enhance modulus properties, might be brought together to achieve some hybrid properties. A case in point is where the hybrid fabric may contain twisted filaments for strength and parallel ones for modulus. Henceforth, robustness will grow within the Construction segment due to the escalating need for durable building materials at cost-effective prices. Moreover, increasing preference towards green buildings will further drive the need for polyester tire cord fabric since it has excellent mechanical properties and is eco-friendly.
The Titer segment of the Polyester Tire Cord Fabrics Market is expected to grow significantly in the coming years. The market is segmented based on titer, which refers to the thickness of the yarn. The key titer segments in the Polyester Tire Cord Fabrics Market include: 800- Denier - Denier - Denier Over Denier The - Denier segment is expected to hold the largest share of the Polyester Tire Cord Fabrics Market in , and is projected to continue its dominance throughout the forecast period. This segment is used in the production of radial tires for passenger cars and light trucks, which are expected to witness high demand in the coming years due to the increasing popularity of these vehicles.The 800- Denier segment is expected to experience steady growth over the forecast period. This segment is used in the production of bias tires for off-road vehicles and industrial applications. The increasing demand for off-road vehicles and the growing construction industry are expected to drive the growth of this segment. The - Denier and Over Denier segments are expected to witness moderate growth over the forecast period. These segments are used in the production of high-performance tires for heavy-duty vehicles and aircraft.The increasing demand for heavy-duty vehicles and the growing aviation industry are expected to drive the growth of these segments. Overall, the Polyester Tire Cord Fabrics Market is expected to witness steady growth in the coming years, driven by the increasing demand for tires from various industries.
The application segment is very important to the market as every application has its unique contribution to the market growth. Radial Tires make up a significant portion of the market. For example, they are mainly used in passenger cars and light trucks since they are long-lasting, more economical on fuel, and have excellent on-road grip. On the other hand, Bias Tires are usually employed in offroad vehicles, industrial machinery, and agricultural equipment because of their strong construction and puncture resistance. Belts and Hoses is an emerging sector that is utilized in automotive power transmission systems, conveying fluids and gases, and industrial machinery.
Polyester tire cord fabrics have various industrial applications, such as conveyor belts and safety clothing made from composite materials, among others, which make up polyester tire cord fabrics in different industries.
Exhibiting different market dynamics and growth patterns across key regions, the Polyester Tire Cord Fabrics Market is regionally segmented. North America, Europe, APAC, South America, and MEA contribute collectively to the market growth. North America has a significant market share because of a well-established automotive and tire industry. High-performance tires are in high demand in this area, which fuels the polyester tire cord fabrics market. Europe follows closely with leading tire manufacturers present and increasing focus on fuel efficiency and safety regulations.
The APAC region is expected to grow at the fastest rate over the forecast period due to the expanding automotive sector and rising demand for passenger vehicles. China, India, and Japan dominate regional markets. South America, as well as the MEA, also has growing potential due to increasing urbanization rates, rising disposable income levels, and higher vehicle ownership rates. Nonetheless, geopolitical issues and economic swings can affect market growth in these areas.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Major players in the polyester tire cord fabric market are continuously focusing on new product development and innovation. Leading Polyester Tire Cord Fabrics Market players are adopting various growth strategies such as partnerships, collaborations, joint ventures, and acquisitions to strengthen their position in the market. The Polyester Tire Cord Fabrics Market industry is characterized by intense competition among existing players. Key Polyester Tire Cord Fabrics Market players are investing heavily in research and development to improve their product portfolio and gain a competitive edge in the market.Hyosung is a leading supplier of tire cord fabrics and other industrial materials. The company has a strong presence in the Asia-Pacific region and is expanding its operations in other parts of the world. Hyosung is focused on providing innovative and high-quality products to its customers. The company's tire cord fabrics are used by major tire manufacturers around the world.Toray Industries is another major player in the polyester tire cord fabric market. The company is headquartered in Japan and has a presence. Toray Industries is a diversified company with a wide range of businesses, including textiles, chemicals, and electronics. The company's tire cord fabrics are known for their durability and performance. Toray Industries is a major supplier to the automotive industry.
Toray Industries
Tongkun Group
Sinopec Group
Teijin Limited
Dongyang Yichuan
Zhejiang Rongsheng
Jiangyin Yuanhua
Mitsubishi Chemical Holdings
Kuraray Co.
India Poly Combine
Jiangsu Hengli Group
Hyosung Advanced Materials
Zhejiang Yisheng
Quanzhou Yinjia
Renuka Polymers
The Polyester Tire Cord Fabrics Market is expected to grow from USD 4.09 billion in to USD 4.87 billion by , at a CAGR of 1.97% over the forecast period. The growth of the market is attributed to the increasing demand for polyester tire cord fabrics from the automotive industry. Polyester tire cord fabrics are used in the production of tires for passenger cars, light trucks, and heavy-duty vehicles. The increasing production of vehicles, particularly in emerging economies, is driving the demand for polyester tire cord fabrics.Recent news developments in the Polyester Tire Cord Fabrics Market include the expansion of production capacity by major manufacturers. For instance, in , Hyosung announced plans to invest USD 100 million in expanding its polyester tire cord fabric production capacity in China. This expansion is in response to the growing demand for polyester tire cord fabrics from the automotive industry in China.
Polyester Tire Cord Fabrics Market Segmentation Insights
Polyester Tire Cord Fabrics Market Raw Material Outlook
Polyethylene Terephthalate (PET)
Polyethylene Naphthalate (PEN)
Polybutylene Terephthalate (PBT)
Polytrimethylene Terephthalate (PTT)
Polyester Tire Cord Fabrics Market Construction Outlook
Twisted
Parallel
Cross-ply
Hybrid
Polyester Tire Cord Fabrics Market Titer Outlook
800- Denier
- Denier
- Denier
Over Denier
Polyester Tire Cord Fabrics Market Application Outlook
Radial Tires
Bias Tires
Belts and Hoses
Other Industrial Applications
Polyester Tire Cord Fabrics Market Regional Outlook
North America
Europe
South America
Asia Pacific
Middle East and Africa
Frequently Asked Questions (FAQ) :
&#; The Polyester Tire Cord Fabrics Market is expected to reach a valuation of USD 4.87 billion by , expanding at a CAGR of 1.97% from to .
North America is anticipated to dominate the Polyester Tire Cord Fabrics Market owing to the presence of major automotive manufacturing hubs in countries such as China, India, and Japan.
Polyester Tire Cord Fabrics are primarily used in the manufacturing of radial tires for passenger cars, light trucks, and heavy-duty vehicles.
Major players in the Polyester Tire Cord fabric market include Hyosung, Kolon Industries, Teijin Aramid, Toray Industries, and DuPont.
Increasing demand for lightweight and fuel-efficient vehicles, coupled with growing automotive production, is driving the growth of the Polyester Tire Cord Fabrics Market.
Fluctuations in raw material prices and intense competition from alternative materials, such as nylon and steel, pose challenges to the Polyester Tire Cord Fabrics Market.
The incorporation of advanced technologies, such as nanotechnology and smart materials, is creating new opportunities in the Polyester Tire Cord Fabrics Market.
The Polyester Tire Cord Fabrics Market is projected to expand at a CAGR of 1.97% from to .
Rising environmental concerns and government regulations promoting fuel efficiency are positively influencing the growth of the Polyester Tire Cord Fabrics Market.
The COVID-19 pandemic led to a temporary decline in demand for Polyester Tire Cord Fabrics due to disruptions in automotive production. However, the market is expected to recover as economic activities resume.
Insightful Trends in the Global Tyre Cord Fabrics Market by Region: What You Need to Know
Insightful Trends in the Global Tyre Cord Fabrics Market by Region: What You Need to Know
The Tyre Cord Fabrics Market is witnessing transformative trends across various regions, driven by increasing demand for high-performance tires and advancements in material technologies. Understanding these regional dynamics is crucial for industry stakeholders.
North America: A Hub for Innovation
In North America, the Tyre Cord Fabrics Market is booming due to a growing emphasis on fuel efficiency and eco-friendly solutions. The adoption of high-strength polyester and aramid fibers is becoming widespread as manufacturers aim to enhance performance while reducing weight.
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Europe: Sustainability at the Forefront
Europe is leading the charge in sustainable manufacturing practices. Countries like Germany and France are focusing on the circular economy, pushing for the use of recycled materials in tyre production. The demand for lightweight and durable tyre cord fabrics is soaring, with projections suggesting a market growth rate of over 5% annually.
Asia-Pacific: Rapid Expansion
The Asia-Pacific region, particularly China and India, is experiencing rapid growth in the Tyre Cord Fabrics Market. With the automobile industry booming, the demand for various types of tyre fabrics&#;such as nylon and polyester&#;has escalated. Market analysts expect a surge, with China alone forecasted to contribute over 30% of global market share by .
Latin America: Emerging Opportunities
Latin America is starting to see growth in tyre cord fabrics as a result of increasing vehicle production. Brazil and Mexico are expected to become key players in the market, driven by investments in local manufacturing facilities.
Middle East and Africa: Untapped Potential
The Middle East and Africa present significant untapped potential in the Tyre Cord Fabrics Market. The roll-out of infrastructure projects is anticipated to boost demand for commercial vehicles, thereby increasing the demand for tyre cord fabrics. Experts predict a gradual upward trend as local manufacturers look to fulfill the market gap.
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Provides high-level overview of key insights, growth plans, offering expansion and much more about the economy in 110+ foreign nations, meaningful competitors, Fortune 500 etc companies The report further presents the best possible strategies when entering the global Tyre Cord Fabrics Market business domain as well as a detailed analysis of market size, market opportunities, and outlooks. The Global Commercial Tyre Cord Fabrics Market Analysis report highlights the factors which influences the market&#;s growth drivers, growth opportunities, certain difficulties and risks cannot
Top Tyre Cord Fabrics Market Companies
Global Tyre Cord Fabrics Market Segmentation:
Tyre Cord Fabrics Market By Type
Regarding product segmentation, the report divides the Global Tyre Cord Fabrics Market with the majority into several types, each having distinct features and uses. This segmentation serves to explain what products are becoming more popular, the reasons for their acceptance, and the changes that are likely to occur in these products during the forecast period. With the help of detailed description of product&#;s patterns of activity, innovations and market competition, the report presents a broad picture that can be used for development of products, marketing and investment strategies. In the case of companies that want to create something new or change the range of offered goods, it is required to comprehend the issues of the products dynamics in order to remain competitive in a particular market.
Tyre Cord Fabrics Market By Applications
GlobalTyre Cord Fabrics Market is also divided into applications, which allows you to explore how different industries and sectors use the offers of the market. This segmentation highlights the main demand drivers, new applications, and potential areas for market expansion. By analyzing the usage patterns in different industries, the authors of the report identify the main areas of application that should contribute to growth, as well as the challenges and opportunities specific to each sector. For example, the development of certain applications may be motivated by technological advances or legislative changes, which gives companies a clear way to adapt their strategies to market needs.
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What to expect in our report?
&#; The detailed section of the global Tyre Cord Fabrics Market report discusses the market dynamics, including influential factors, market drivers, challenges, opportunities and trends.
Another important part of the study focuses on the regional analysis of Global Tyre Cord Fabrics Market, which evaluates the key regions and countries in terms of growth potential, consumption, market share and other relevant factors indicating their growth in the market.
&#; Players can use the competitor analysis provided in the report to create new strategies or improve existing ones in order to meet market challenges and increase the global market share of Tyre Cord Fabrics Market.
&#; The report also analyzes the competitive situation and the trends that highlight the company's expansion and the current mergers and acquisitions in global Tyre Cord Fabrics Market. It also shows the degree of market concentration and the market shares of the 3 and 5 largest players.
&#; The results of the study and the conclusions of the Tyre Cord Fabrics Market global market report are presented to the readers.
Tyre Cord Fabrics Market magnitude, trends and future prospects [-]
The future scale of Tyre Cord Fabrics Market seems promising, with a projected average growth rate of xxx% from to . The growing consumer demand, technological progress and the expansion of the scope of application will stimulate the growth of the market. The sales ratio is expected to evolve towards emerging markets, thanks to the growth of disposable income and urbanization. In addition, sustainability trends and regulatory support will further stimulate demand, making the market a key target for investors and industry players in the coming years.
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1. What are tyre cord fabrics?
Tyre cord fabrics are high-strength reinforcement materials used in the production of tires.
2. What are the key applications of tyre cord fabrics?
Tyre cord fabrics are used in passenger car tires, light truck tires, heavy truck tires, and off-road vehicle tires.
3. What is the current size of the global tyre cord fabrics market?
The global tyre cord fabrics market was valued at $4.23 billion in .
4. What is the expected growth rate of the global tyre cord fabrics market?
The global tyre cord fabrics market is projected to grow at a CAGR of 3.7% from to .
5. What are the key factors driving the growth of the tyre cord fabrics market?
The increasing demand for high-performance tires, growth in the automotive industry, and rising investments in tire manufacturing facilities are driving the growth of the market.
6. Which region holds the largest market share in the tyre cord fabrics market?
Asia Pacific holds the largest market share in the global tyre cord fabrics market, driven by the presence of major tire manufacturing hubs in countries like China, India, and Japan.
7. What are the major challenges faced by the tyre cord fabrics market?
The volatility in raw material prices, stringent government regulations related to tire labeling and manufacturing, and the emergence of alternative materials are some of the key challenges faced by the market.
8. What are the different types of tyre cord fabrics available in the market?
The different types of tyre cord fabrics include nylon, polyester, rayon, and aramid.
9. Who are the key players in the tyre cord fabrics market?
Some of the key players in the global tyre cord fabrics market include Hyosung Corporation, Kordsa Global, Kolon Industries, Cordenka GmbH & Co. KG, SRF Limited, and Junma.
10. What are the opportunities for growth in the tyre cord fabrics market?
The increasing demand for eco-friendly and sustainable tire cord fabrics, technological advancements in tire reinforcement materials, and the growth of the automotive aftermarket sector are creating new opportunities for growth in the market.
11. How are tyre cord fabrics manufactured?
Tyre cord fabrics are manufactured through a process called dipping, which involves coating the yarn with a special adhesive and then curing it to achieve the desired strength and adhesion properties.
12. What are the technical specifications of tyre cord fabrics?
Tyre cord fabrics are known for their high tensile strength, excellent adhesion to rubber, and resistance to heat, abrasion, and fatigue.
13. What are the trends shaping the tyre cord fabrics market?
The adoption of advanced weaving and dipping technologies, the development of lightweight and high-performance tire cord fabrics, and the focus on sustainability and recyclability are some of the key trends shaping the market.
14. What is the competitive landscape of the tyre cord fabrics market?
The market is highly competitive, with a few key players dominating the global landscape through strategic partnerships, acquisitions, and product innovations.
15. What are the regulatory standards and certifications governing the tyre cord fabrics market?
The tyre cord fabrics market is governed by industry standards such as ISO , ISO/TS , and ASTM D885. Compliance with these standards is essential for manufacturers to meet the quality requirements of tire producers.
16. What is the impact of the COVID-19 pandemic on the tyre cord fabrics market?
The COVID-19 pandemic has had a mixed impact on the market, with disruptions in the supply chain and production activities, but also an increased focus on product innovation and sustainability in the post-pandemic recovery phase.
17. What are the cost factors influencing the tyre cord fabrics market?
The cost of raw materials, energy, labor, and compliance with environmental regulations are some of the key cost factors influencing the tyre cord fabrics market.
18. How are the technological advancements influencing the tyre cord fabrics market?
Technological advancements such as the development of high-strength fibers, advanced weaving techniques, and innovative dipping processes are enhancing the performance and quality of tyre cord fabrics, driving market growth.
19. How is the market for eco-friendly tyre cord fabrics evolving?
The market for eco-friendly tyre cord fabrics is evolving rapidly, with increasing emphasis on sustainable sourcing, manufacturing processes, and recyclability of materials to meet the growing demand for greener automotive products.
20. What are the future prospects for the tyre cord fabrics market?
The future prospects for the tyre cord fabrics market look promising, driven by the growing demand for high-performance tires, technological advancements, and the expansion of the automotive industry in emerging economies.
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