Dublin, April 17, 2019 (GLOBE NEWSWIRE) -- The "Tire Cord Fabrics Market by Material (Nylon, Polyester, Rayon, Aramid, Polyethylene Napthalate), Tire Type (Radial Tire, Bias Tire), Application (OEM, Replacement), Vehicle Type (Passenger Cars, Commercial Vehicles) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The market size of tire cord fabrics is projected to reach USD 6,443.7 million by 2023, at a CAGR of 5.59%.

Tire cord fabrics are located in the inner part of the tire and are primarily used for the belt and carcass parts. They help in easing the pressure and shock and extending the life of the tire. They are designed to keep tires in shape and support the vehicle weight. In the manufacturing process of tire cord fabrics, after polymerization and spinning, nylon and polyester yarns are twisted and woven into fabrics.

After this, an adhesive solution called latex is added to the fabrics to increase bonding between the fabrics and the rubber. Finally, the textile is heat-treated to improve the dimensional stability of tire cord fabrics. There are various types of tire cord fabrics available in the market, including nylon, polyester, and rayon, among others.

The market is estimated to grow at the highest rate in APAC, in terms of both value and volume. The increased vehicle demand, especially light-duty vehicles, around the globe has increased the global vehicle production in the past few years. Subsequently, with growing vehicle sales, there is an increase in vehicle parc.

These factors have indirectly influenced the global tire cord fabrics market positively. The market growth is restrained by fluctuating raw material prices. However, cost sensitiveness of the automotive industry is the major challenge for the growth of the tire cord fabrics market.

Key market players profiled in the report include Kolon Industries (South Korea), Kordsa (Turkey), SRF Limited (India), and Hyosung Corporation (South Korea), Indorama Ventures Company Limited (Thailand)."

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Tire Cord Fabrics Market
4.2 Tire Cord Fabrics Market in APAC, By Application and Country
4.3 Tire Cord Fabrics Market, By Region
4.4 Tire Cord Fabrics Market, By Material
4.5 Tire Cord Fabrics Market Attractiveness

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increase in Vehicle Usage, Globally
5.2.1.2 Increasing Global Sales of Construction and Mining Equipment
5.2.2 Restraints
5.2.2.1 Fluctuating Raw Material Prices
5.2.3 Opportunities
5.2.3.1 Demand for Eco-Friendly Tire Cord Fabrics
5.2.4 Challenges
5.2.4.1 Cost-Sensitiveness of the Automotive Industry
5.3 Porter's Five Forces Analysis
5.4 Macroeconomic Indicators
5.4.1 GDP Trends and Forecast of Major Economies
5.4.2 Trends and Forecast of Automotive Industry and Its Impact on Tire Cord Fabrics Market

6 Tire Cord Fabrics Market, By Material
6.1 Introduction
6.2 Nylon
6.2.1 Nylon is Extensively Used in Various Automotive Applications
6.3 Polyester
6.3.1 High Mechanical Strength and Heat Resistance Properties are Boosting the Growth of the Polyester Segment
6.4 Rayon
6.4.1 Environmental Sustainability of New Types of Rayon Fibers is Expected to Drive This Segment
6.5 Others

7 Tire Cord Fabrics Market, By Tire Type
7.1 Introduction
7.2 Radial Tires
7.2.1 Growing Demand for Passenger Cars is Expected to Boost the Demand for Radial Tires
7.3 Bias Tires
7.3.1 Growth in Commercial Vehicles Demand is Likely to Drive the Tire Cord Fabrics Market in This Segment

8 Tire Cord Fabrics Market, By Application
8.1 Introduction
8.2 OEM
8.2.1 Rising Automobile Production is Expected to Drive the OEM Segment
8.3 Replacement
8.3.1 Replacement Segment is Likely to Dominate the Market

9 Tire Cord Fabrics Market, By Vehicle Type
9.1 Introduction
9.2 Passenger Cars
9.2.1 Growing Per Capita Income in Emerging Economies is Driving the Market
9.3 Commercial Vehicles
9.3.1 Increasing Industrialization and Growing Infrastructure Activities are Expected to Propel the Tire Cord Fabrics Market

10 Tire Cord Fabrics Market, By Region

11 Competitive Landscape
11.1 Overview
11.2 Competitive Leadership Mapping, 2018
11.2.1 Visionary Leaders
11.2.2 Innovators
11.3 Strength of Product Portfolio
11.4 Business Strategy Excellence
11.5 Competitive Leadership Mapping (SMSE)
11.5.1 Progressive Companies
11.5.2 Responsive Companies
11.6 Strength of Product Portfolio
11.7 Business Strategy Excellence
11.8 Market Share Analysis
11.8.1 Indorama Ventures Company Limited
11.8.2 Kolon Industries Inc.
11.8.3 Hyosung Corporation
11.8.4 SRF Limited
11.8.5 Kordsa Teknik Tekstil A.S.
11.9 Competitive Scenario

12 Company Profiles
12.1 Indorama Ventures Public Company Limited
12.2 Kolon Industries Inc.
12.3 Hyosung Corporation
12.4 SRF Ltd.
12.5 Kordsa Teknik Tekstil A.S.
12.6 Teijin Ltd.
12.7 Toray Industries Inc.
12.8 Century Enka Limited
12.9 Firestone Fibers & Textile Company
12.10 Cordenka GmbH & Co Kg
12.11 Shenma Industrial Co. Ltd.
12.12 Other Market Players
12.12.1 Saba Tire Cord Company
12.12.2 Madura Industrial Textiles Ltd.
12.12.3 Junma Group
12.12.4 Sohrab Group
12.12.5 Hanoi Industrial Textile Jsc (Haicatex)
12.12.6 Glanzstoff Industries
12.12.7 Kuibyshevazot Pjsc
12.12.8 Formosa Taffeta Co. Ltd.
12.12.9 Oriental Industries (Suzhou) Ltd.
12.12.10 Kian Cord Co.
12.12.11 Hangzhou Dikai Industrial Fabrics Co., Ltd.
12.12.12 Shandong Helon Polytex Chemical Fibre Co., Ltd.
12.12.13 Shenma Industrial Co., Ltd.
12.12.14 Dongping Jinma Tyre Cord Fabric Co., Ltd.
12.12.15 Zhejiang Hailide New Material Co., Ltd.
12.12.16 Colmant Coated Fabrics
12.12.17 Groz-Beckert
12.12.18 Milliken & Company

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Related Topics: Automotive Tires, Automotive Interior Components, Textiles, Automotive Materials