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Tire Cord & Tire Fabrics Market Share

Report ID: GMI850
Published Date: Aug 2022
Report Format: PDF

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Tire Cord & Tire Fabrics Market Share

Kemrock Industries and Exports Limited
Kordsa Global, Inc.
BASF SE
Arkema S.A
SGL Carbon SE
Solvay S.A.
Kolon Industries, Inc.
Mitsubishi Rayon Co. Ltd
Hyosung Corporation
Toray Industries Inc.

are some of the key tire cord & tire fabrics market players. Firms are engaging in profitable strategies, such as growth mergers, partnerships, research & development projects, and so forth, to boost their market position. For instance, Kolon Industries, Inc., a Korean textile and chemical manufacturing company, focuses on a growth strategy of responding to market demand for tire cords and fabrics. Recently, it systematically increased its production capacity in manufacturing plants at Nanjing and Gumi to cater to the rising demand for HVC in the regions.

Authors: Kiran Pulidindi

Frequently Asked Questions (FAQ) :

The market for tire cords & tire fabrics was valued at more than USD 4,600 million in 2021 and is set to progress at a CAGR of 6.4% over the forecast period.

The APAC market will be valued at more than USD 960 million by 2030 owing to the rapidly increasing demand for cars, two-wheelers, and heavy vehicles from countries including China, Japan, India, Indonesia, and Malaysia.

The steel cord segment is poised to grow at a CAGR of around 6.3% over the forecast period due to the increasing production of radial tires, which is the principal consumer of steel belts and steel cords in the automotive industry.

Some major companies in the tire cords & tire fabrics industry are BASF SE, Arkema S.A, SGL Carbon SE, Kemrock Industries and Exports Limited, Solvay S.A., Mitsubishi Rayon Co. Ltd, and Toray Industries Inc.