Tire Reinforcement Materials Market Report by Product Type (Tire Cord Fabric, Tire Bead Wire), Material Type (Steel, Polyester, Nylon, Rayon, Aramid, and Others), Tire Type (Radial Tire, Bias Tire), Vehicle Type (Passenger Cars, Commercial Vehicle, and Others), Application (OEMs, Aftermarket), and Region 2024-2032
The global tire reinforcement materials market size reached US$ 16.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 22.1 Billion by 2032, exhibiting a growth rate (CAGR) of 3.6% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 16.0 Billion
Market Forecast in 2032
US$ 22.1 Billion
Market Growth Rate 2024-2032
3.6%
Tire reinforcement materials, such as beads and fabric cords, are widely utilized to provide high durability, stiffness, tensile strength, adhesion to rubber and compression modulus. These materials are employed depending on their cost, construction, chemical composition and the number of plies in tires. For instance, steel cords find application in passenger car and truck radial tires to generate handling force, improve traction and enhance the overall tire performance. Moreover, beads manufactured using steel wires and additives are used as reinforcement materials. They are coated with alloys to provide resistance against load distortion, rim slippage and breakage during mounting. At present, the demand for tire reinforcement materials is increasing worldwide as they keep tires in shape, support vehicle weight and improve the functionality of tires.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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The escalating demand for run-flat and ultra-high-speed tires is positively influencing the adoption of textile cords in bicycles, earthmovers, heavy-duty trucks and space shuttle landing gear. Moreover, as steel cords help reduce rolling resistance, increase tread life and improve fuel efficiency, they find application in sport utility vehicles (SUVs) and light truck (LT) tires. Furthermore, the growing number of construction and mining activities are promoting the usage of tire reinforcement materials as they provide protection against punctures in off-the-road (OTR) vehicles. The rising sales of automobiles, the introduction of super high tensile bead wires and stringent regulations implemented by governing agencies of various countries on the fuel economy of vehicles are some of the other factors anticipated to drive the market in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global tire reinforcement materials market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product type, material type, tire type, vehicle type and application.
Breakup by Product Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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. and Toyobo Co. Ltd.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Billion
Segment Coverage
Product Type, Material Type, Tire Type, Vehicle Type, Application, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
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.
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3899
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Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global tire reinforcement materials market was valued at US$ 16.0 Billion in 2023.
We expect the global tire reinforcement materials market to exhibit a CAGR of 3.6% during 2024-2032.
The rising demand for tire reinforcement materials in maintaining the shape, supporting vehicle weight, improving overall tire functionality, etc., is primarily driving the global tire reinforcement materials market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous production activities for tire reinforcement materials.
Based on the product type, the global tire reinforcement materials market can be segmented into tire cord fabric and tire bead wire. Currently, tire cord fabric holds the majority of the total market share.
Based on the material type, the global tire reinforcement materials market has been divided into steel, polyester, nylon, rayon, aramid, and others. Among these, steel currently exhibits a clear dominance in the market.
Based on the tire type, the global tire reinforcement materials market can be categorized into radial tire and bias tire. Currently, radial tire accounts for the majority of the global market share.
Based on the vehicle type, the global tire reinforcement materials market has been segregated into passenger cars, commercial vehicle, and others, where passenger cars currently hold the largest market share.
Based on the application, the global tire reinforcement materials market can be bifurcated into OEMs and aftermarket. Currently, aftermarket exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global tire reinforcement materials market include 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., and Toyobo Co. Ltd.
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