Tire cords reinforce the tired used to maintain a tire’s shape. Tire cords are primarily made of nylon, aramid, polyester, steel, rayon, and hybrid. These materials offer several beneficial properties: controlled deformation and abrasion resistance and high tensile strength, contributing to their use as core components. The tire cord is crucial in providing strong support to rubber tires. It offers support and aids in the maintenance of tire form, handles a vehicle’s overall weight & provides elongation and absorption performance, thus, making it a crucial tire element.Based on material type, the tire cord market is segmented into Nylon, Polyester, Rayon, Hybrid, and PolyethyleneTerephthalate (PET). Nylon has shown the highest market growth potential due to its high tenacity, toughness, superior fatigue resistance, and good adhesion to rubber. Based on the Tire category, the Radial segment is growing at the fastest pace in the market owing to the rising production of passenger cars across the globe. Radial tires have different springiness characteristics than bias-ply tires and a different degree of steering slip.
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Market Dynamics
The demand for eco-friendly manufacturing is driving the global tire cord. Furthermore, Sustainable manufacturing technologies provide significant financial, environmental, and product quality benefits to many manufacturers. Therefore, leading companies such as Continental, Kordsa, and Teijin have been working on various sustainable practices to manufacture eco-friendly tires for sustainability and the environment and adhere to regulatory bodies.
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Segment Analysis
Nylon material offers excellent strength in tire cords which has escalated the product’s demand in the tire cord industry Based on material, the global tire cord market is segmented into polyester, nylon, rayon, aramid, polyethylene terephthalate (PET), steel, and hybrid. The nylon segment is a major type of tire cord market. The nylon tire cord fabric provides the necessary strength to a tire. The tire industry is the largest consumer and utilizes 98% of all nylon tire cords produced globally.
Competitive Landscape
The global tire cord market is highly competitive with local and global key players. The key players contributing to the market’s growth are Indorama Ventures, SRF Limited, Kolon Industries Inc, Tire Cord USA, TEIJIN LIMITED, HYOSUNG, Kordsa Teknik Tekstil A.S., Toray Hybrid Cord, Inc, Century Enka Limited, Firestone Fibers & Textile Company, among others.
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