+1-888-308-5802     
News Contact Us

Tire Cord And Tire Fabrics Market Statistics 2019 | Trend & Growth Forecast To 2024

Author : Rahul Varpe | Published Date : 2019-06-06 

An analysis of Tire Cord And Tire Fabrics Market has been provided in the latest report introduced by Global Market Insights that primarily focuses on the market trends, demand spectrum, and future prospects of this industry over the forecast period. Furthermore, the report provides a detailed statistical overview in terms of trends outlining the geographical opportunities and contributions by prominent industry share contenders.

Tire Cord And Tire Fabrics Market to cross USD 6.40 billion by 2024. Robust growth in the automotive industry is the major factor for the global tire cord and tire fabrics market size. U.S., India, Japan, China and South Korea are the prominent countries for the automotive sector and accounts more than 50% of the global commercial and personal vehicle production in 2015. Growing middle class population along with rising consumer per capita disposable income in China and India will complement the automotive business growth by 2024.

Request for a sample copy of this report @    https://www.gminsights.com/request-sample/detail/850

In 2015, steel tire cords &tire fabrics market size generated revenue more than USD 1 billion. Escalating radial tires demand in North America is evaluated to be the prime factor for the product growth. Where, steel is primarily used in tire strengthening and extensively preferred across commercial vehicles owing to boost business growth.

Polyester is forecast to expand at over 5% CAGR by 2024. These are widely used in the passenger cars tires particularly due to their low cost along with preferred physical characteristics.

In 2015, North America, led by the U.S., was valued at over USD 800 million. Positive economic indicators along with enormous customer base for luxurious cars and SUVs will drive the regional tire cord and tire fabrics market share.

Global tire cord and tire fabrics market size is dominated by Asia Pacific; rising consumer spending capacity accompanied with drifting automotive manufacturing focus towards settings their business operations in India and China are the key factors for regional business growth.

U.S. plays a vital part in the automotive industry, as it accounts for over 65% of the total commercial &personal vehicles sales in North America. Elevating U.S. economy after 2008 economic downturn is likely to stimulate the industry growth by 2024. The commercial &personal automobiles sale is anticipated to exceed 12 million and 10 million units over the projected period owing to boost the global tire cord and tire fabrics market size by 2024.
 
European automotive sales are decreasing due to stagnant GDP growth. For example, in 2005, the total commercial vehicle sales were around 3 million units and marked close to 2,4 million units in 2013. Correspondingly, the personal automotive sales declined from approximately 15 million units to around 12 million units during the same period. This decline may hamper the global tire cord and tire fabrics market size by 2024. However, development of bio-based and environment friendly substitutes to traditional tire cord materials will open up new growth avenues for the industry participants, thereby pushing business growth.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/850

In 2015, the global tire cord and tire fabrics market share was highly consolidated. Some of the product manufacturer contributing the industry share are Bakaert, Hyosung Corp., SRF Ltd, Kordsa Global Inc., Kolon Industries, Milliken &Co. Inc., Firestone Fibers &textile Co., Kordarna plus A.S, Tokusen USA, Cordenka GmbH and Teijin Ltd.

Rrad More @ https://www.marketwatch.com/press-release/Flexographic-Printing-Inks-Market-Future-Challenges-and-Industry-Growth-Outlook-2024-2019-06-06
 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

Related News

Printed Cartons Market Analysis and Demand with Forecast Overview to 2024

Published Date: 2019-11-11         Author: Rahul Varpe

Global Market Insights, Inc. has announced the launch of Printed Cartons Market, a comprehensive study enumerating the latest price trends and pivotal drivers rendering a positive impact on the industry landscape. Further, the report is inclusive of the competitive terrain of this vertical in additi... Read More

Antibacterial Glass Market Analysis, Application, Regional Outlook, Competitive Strategies and Forecast to 2024

Published Date: 2019-11-11         Author: Rahul Varpe

Global Market Insights, Inc. added Antibacterial Glass Market Report provides an analytical assessment of the prime challenges faced by this Market currently and in the coming years, which helps Market participants in understanding the problems they may face while operating in this Market over a lon... Read More

Zeolite Molecular Sieve Market Report, Growth Forecast, Industry statistics Till 2024

Published Date: 2019-11-11         Author: Rahul Varpe

The latest Zeolite Molecular Sieve Market Research Report 2024 contains complete Industry outlook, market manufacturers and key statistics analysis. The industry sales & Share, trends are all discussed, explained and analyzed. It provides marketing strategy analysis, distributors/traders list, r... Read More

© 2019 Fractovia. All Rights Reserved