+1-888-308-5802     
News Contact Us

Tire Cord And Tire Fabrics Market Report 2019 By Regional Revenue, Growth & Trends Analysis 2024

Author : Rahul Varpe | Published Date : 2019-08-08 

Tire Cord and Tire Fabrics Market revenue is expected to experience a significant upsurge over the coming years, augmented by mergers & acquisitions, joint ventures, and product innovations. Recently, Indorama Ventures, a petrochemical producing firm based in Thailand, has decided to acquire Glanzstoff, a leading European manufacturer of tire raw materials as well as its supplier to key tire manufacturing firms in Europe. 
 
Glazstoff collects a revenue of nearly USD 190 million annually and is ranked second in rayon tire cords production across the globe. By acquiring Glanzstoff, Indorama aims to enhance its nylon & polyester fiber production for high performing lightweight tires, most popularly used in self-driving automobiles and electric cars. It is predicted that the worldwide demand for high performing lightweight tires across luxury, self-driving, and electric cars sectors will grow at an annual rate of 4 % to 7% over the coming five years, thereby generating lucrative growth opportunities for tire cord and tire fabrics industry.

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

Rayon cord, steel cord, nylon dipped cord, and polyester are the major products of tire cord and tire fabrics market. Polyester tire cord and tire fabrics industry is projected to grow at a rate of 5% over the duration of 2016 to 2024, subject to enhanced product utilization in passenger car tires due to its low price and favorable physical characteristics.

Steel tire cord and tire fabrics market, worth USD 1 billion in 2015, is projected to observe the notable expansion over the coming seven years. The growth can be credited to a high inclination towards the use of radial tires across regions such as North America along with mushrooming product application in the production of commercial vehicles.

The thriving automotive sector is forecast to make notable contributions towards tire cord and tire fabrics industry size over the years ahead, driven by the growing use of the product in vehicle production. South Korea, Japan, China, U.S., and India, which accounted for over 50% of the total vehicle production in 2015, are expected to contribute significantly towards the global demand for vehicles over the next few years. According to Global Market Insights, Inc., “Tire cord and tire fabrics industry value, estimated at USD 3.85 billion in 2015, is slated to hit USD 6.4 billion by 2024.”

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

In 2015, the worldwide tire cord and tire fabrics industry was highly consolidated with only few leading players dominating the market share. Hyosung Corporation, Kolon Industries Incorporation, Firestone Fibers & Textile Company, SRF Limited, Bekaert, Kordsa Global Incorporation, Kordarna A.S., CORDENKA GmbH & Co. KG, Teijin Limited, Tokusen USA Incorporation, and Milliken & Company are the key participants of tire cord and tire fabrics industry.
 

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

Forklift Market Study by Trend Analysis and Growth Forecast during 2019 - 2025

Published Date: 2019-10-14         Author: Rahul Varpe

Forklift Market research report added by Global Market Insights provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The industry report lists the leading competitors and provides the insights stra... Read More

Concrete Cooling Market is projected to register healthy growth over 2019 - 2025

Published Date: 2019-10-14         Author: Rahul Varpe

Concrete Cooling Market research report added by Global Market Insights provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The industry report lists the leading competitors and provides the insig... Read More

Compressor Rental Market 2019 – 2025 | Global Industry Insights & Key Growth Drivers

Published Date: 2019-10-14         Author: Rahul Varpe

Compressor Rental Market research report added by Global Market Insights provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The industry report lists the leading competitors and provides the insi... Read More

© 2019 Fractovia. All Rights Reserved