Home » Tire Reinforcement Materials Market Report 2022-2027, Industry Analysis, and Forecast

Tire Reinforcement Materials Market Report 2022-2027, Industry Analysis, and Forecast

by janeausten
Tire Reinforcement Materials Market

Global Tire Reinforcement Materials Market Overview:

According to the latest report by IMARC Group, titled Tire Reinforcement Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022- 2027,” the global tire reinforcement materials market reached a value of US$ 14.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 19 Billion by 2027, exhibiting a CAGR of 4.45% during 2022-2027. Tire reinforcement materials are used for providing traction and handling vehicles while reducing the resistance for optimized fuel consumption. They are also used for stiffening the critical components of the car and are primarily used for cornering and handling. They also help ensure optimum performance for high fuel efficiency and operation in harsh and challenging environments.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.

Global Tire Reinforcement Materials Market Trends:

The market is primarily driven by the rising automotive industry due to the increasing sales of passenger and commercial vehicles. The improving economic conditions across various developing countries have increased the per capita expenditure among the middle-class population, which is propelling the growth of the market.

Besides this, the aviation sector is a significant end-user of tire reinforcement materials, which are employed in seat belts and carcass reinforcement. Various technological innovations such as the introduction of super high tensile bead wires are also positively impacting the market growth. Furthermore, the increasing cases of road accidents, coupled with the stringent regulations adopted by governing agencies to curb such mishaps, have facilitated the utilization of tire reinforcement materials for improving tire safety and performance.

Global Tire Reinforcement Materials Market 2022-2027 Analysis and Segmentation:

Competitive Landscape with Key Players:

  • Bridgestone Corporation
  • Century Enka Limited
  • Cordenka GmbH & Co. KG
  • Dupont De Nemours Inc.
  • Formosa Taffeta Co. Ltd.
  • Kolon Industries Inc.
  • Kordsa Teknik Tekstil AS (Haci Ömer Sabanci Holding AS)
  • NV Bekaert S.A.
  • SRF Limited (Kama Holdings Ltd.)
  • Teijin Limited
  • Toray Industries Inc.
  • Toyobo Co. Ltd.

Market Breakup by Product Type:

  • Tire Cord Fabric
  • Tire Bead Wire

Market Breakup by Material Type:

  • Steel
  • Polyester
  • Nylon
  • Rayon
  • Aramid
  • Others

Market Breakup by Tire Type:

  • Radial Tire
  • Bias Tire

Market Breakup by Vehicle Type:

  • Passenger Cars
  • Commercial Vehicle
  • Others

Market Breakup by Application:

  • OEMs
  • Aftermarket

 Market Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

  • Market Performance (2016-2021)
  • Market Outlook (2022- 2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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