Key Insights
The global steel tire cord market is projected to reach 5.19 million by 2033, expanding at a Compound Annual Growth Rate (CAGR) of 4.02% from the base year 2025. This growth is primarily propelled by the expanding automotive sector, especially the increasing production of light and heavy vehicles. The widespread adoption of radial tires, offering enhanced fuel efficiency and extended durability, is also a significant market driver. Innovations in steel cord manufacturing, focused on improving tensile strength, fatigue resistance, and corrosion protection, further contribute to market expansion. Leading companies like Bekaert, Bridgestone, and Sumitomo Electric Industries are actively investing in research and development and strategic alliances to maintain market leadership and address evolving automotive industry needs. Despite challenges posed by raw material price volatility and potential economic slowdowns, sustained global vehicle production growth and the continuous demand for superior tire performance ensure a positive long-term market outlook.
Steel Tire Cord Market Market Size (In Million)
Market segmentation highlights regional disparities in growth, influenced by infrastructure development, economic factors, and automotive manufacturing concentration. Regions with substantial automotive production, such as Asia-Pacific (notably China and India), North America, and Europe, are anticipated to hold the largest market shares. The competitive environment features a mix of established global entities and regional enterprises, indicating a competitive landscape where innovation, cost-efficiency, and robust supply chain management are paramount for success. Future expansion will be shaped by the increasing adoption of electric vehicles (EVs), necessitating tire cords with specialized properties, and a growing emphasis on sustainability within the automotive industry.
Steel Tire Cord Market Company Market Share
Steel Tire Cord Market: Comprehensive Report 2019-2033
This in-depth report provides a comprehensive analysis of the global Steel Tire Cord Market, covering the period 2019-2033. With a focus on market structure, competitive dynamics, industry trends, and future outlook, this report is an essential resource for industry professionals, investors, and anyone seeking to understand this dynamic sector. The study utilizes 2025 as the base year, with estimations for 2025 and a forecast period spanning 2025-2033. The historical period analyzed is 2019-2024.
Steel Tire Cord Market Market Structure & Competitive Dynamics
The Steel Tire Cord market exhibits a moderately concentrated structure, with several major players holding significant market share. The competitive landscape is characterized by intense rivalry, driven by factors such as technological advancements, price competition, and varying levels of vertical integration. Market concentration is estimated at xx%, with the top five players accounting for approximately xx% of the global market share in 2024. Innovation ecosystems play a crucial role, with companies continuously investing in R&D to develop high-performance tire cords that meet evolving industry demands. Regulatory frameworks, particularly those related to environmental sustainability and material safety, significantly impact the market. The presence of substitute materials, such as aramid and polyester cords, presents competitive pressure. End-user trends, particularly towards higher fuel efficiency and improved tire performance, are shaping product development strategies. M&A activities within the sector have been relatively moderate in recent years, with a total deal value of approximately USD xx Million over the period 2019-2024. Key observed M&A activities include:
- Strategic acquisitions focused on expanding geographical reach and enhancing production capabilities.
- Joint ventures aimed at developing innovative tire cord technologies.
- Consolidation among smaller players to improve market competitiveness.
Steel Tire Cord Market Industry Trends & Insights
The global Steel Tire Cord market is experiencing robust growth, driven by several key factors. The increasing demand for passenger cars and commercial vehicles, particularly in developing economies, is a primary driver. The expanding automotive industry, fueled by rising disposable incomes and urbanization, contributes significantly to the market's expansion. Technological advancements, such as the development of high-strength, lightweight tire cords, are enhancing tire performance and fuel efficiency, further stimulating market growth. Consumer preferences are shifting towards enhanced tire durability and longer lifespan, which is driving demand for premium tire cords. Intense competition among manufacturers is leading to continuous innovation and product diversification. The market's Compound Annual Growth Rate (CAGR) is projected to be xx% during the forecast period (2025-2033). Market penetration in key regions is expected to increase, driven by infrastructure development and economic growth. The adoption of advanced manufacturing techniques, such as automation and precision engineering, is improving production efficiency and reducing costs. However, fluctuations in raw material prices, particularly steel prices, pose a challenge to market growth.
Dominant Markets & Segments in Steel Tire Cord Market
The Asia-Pacific region dominates the global Steel Tire Cord market, driven by rapid industrialization, booming automotive production, and a large pool of tire manufacturers. China, in particular, holds a significant share owing to its vast automotive sector and substantial domestic production capacity.
- Key Drivers in Asia-Pacific:
- Rapid urbanization and increasing vehicle ownership.
- Extensive infrastructure development projects.
- Favorable government policies supporting the automotive industry.
- Growing presence of major tire and steel cord manufacturers.
The dominance of Asia-Pacific is further reinforced by the presence of several key steel tire cord manufacturers. The region's significant manufacturing base, coupled with supportive government initiatives, contributes to its continued leadership in the global market. Other regions, such as North America and Europe, are also experiencing steady growth, albeit at a slower pace compared to Asia-Pacific. The market segmentation by tire type (radial, bias), vehicle type (passenger car, truck, etc.), and end-use application (automotive, industrial) also shows significant variations in growth rates. Radial tires represent the largest segment, reflecting the increasing popularity of radial tire technology due to its superior performance characteristics.
Steel Tire Cord Market Product Innovations
Recent advancements in steel tire cord technology focus on enhancing strength, durability, and flexibility while simultaneously reducing weight. Innovations include the development of high-tensile strength steel wires, advanced coating technologies, and improved manufacturing processes. These improvements lead to better tire performance, fuel efficiency, and extended tire lifespan, thereby creating a significant competitive advantage. The market is witnessing the increasing adoption of advanced materials and sophisticated manufacturing techniques, including high-speed drawing and annealing processes, that enhance the quality and performance of steel tire cords.
Report Segmentation & Scope
This report segments the Steel Tire Cord market based on several key parameters:
By Product Type: This segment categorizes the market into different types of steel tire cords, based on their composition, strength, and other characteristics. Growth projections vary across these segments, with high-tensile strength cords experiencing faster growth.
By Vehicle Type: This segment analyzes the market based on the type of vehicles using steel tire cords, such as passenger cars, light trucks, heavy trucks, and other vehicles. The passenger car segment is currently the largest, but the heavy truck segment is projected to have faster growth.
By Region: The report comprehensively covers key regions globally, including North America, Europe, Asia-Pacific, and the rest of the world. The Asia-Pacific region is currently dominant, however, other regions are showing promising growth potential.
Key Drivers of Steel Tire Cord Market Growth
The Steel Tire Cord market is propelled by several key factors:
Expanding Automotive Industry: The continuous growth in global vehicle production, particularly in developing economies, directly fuels the demand for steel tire cords.
Technological Advancements: Innovations in steel cord manufacturing and design result in higher-performance products with enhanced durability and fuel efficiency.
Infrastructure Development: Government investments in road infrastructure in several emerging economies increase the demand for vehicles and, consequently, for steel tire cords.
Challenges in the Steel Tire Cord Market Sector
Several factors pose challenges to the Steel Tire Cord market:
Fluctuating Raw Material Prices: Steel price volatility significantly impacts production costs and profitability.
Stringent Environmental Regulations: Compliance with environmental norms necessitates investments in cleaner production technologies, adding to operational expenses.
Intense Competition: The presence of numerous established players and new entrants creates a competitive environment that impacts pricing and market share.
Leading Players in the Steel Tire Cord Market Market
- Bekaert
- Bridgestone (SHENYANG) Steelcord Co Ltd
- Henen Hengxing Technology Co Ltd
- Hyosung Corporation
- Jiangsu Xingda Steel Tyre Cord Co Ltd
- Saarstahl
- Shandong Hualian Group Co Ltd
- Sumitomo Electric Industries Ltd
- Tokusen Kogyo Co Ltd
- HL Group Ltd
- Tokyo Rope Mfg Co Ltd
- List Not Exhaustive
Key Developments in Steel Tire Cord Market Sector
- September 2021: Bekaert S.A. invested USD 23 Million in its tire cord production plant in Lipetsk, Russia, to meet increasing regional demand. This expansion underscores the company's commitment to meeting the growing needs of the market.
Strategic Steel Tire Cord Market Market Outlook
The Steel Tire Cord market is poised for continued expansion, driven by the sustained growth of the automotive sector, particularly in emerging markets. Technological advancements and innovations in materials science will further enhance product performance and efficiency. Strategic opportunities exist for companies to expand their geographic reach, enhance product portfolios, and leverage technological advancements to gain a competitive edge. The focus on sustainability and the development of eco-friendly tire cord materials will also present significant growth prospects in the coming years.
Steel Tire Cord Market Segmentation
-
1. Type
- 1.1. Brass Coated
- 1.2. Zinc Coated
- 1.3. Copper Coated
- 1.4. Other types
-
2. Application
- 2.1. Passenger Vehicle Tires
- 2.2. Commercial Vehicle Tires
- 2.3. Two Wheeler Tires
- 2.4. Aircraft Tires
- 2.5. Industrial Tires
Steel Tire Cord Market Segmentation By Geography
-
1. Asia Pacific
- 1.1. China
- 1.2. India
- 1.3. Japan
- 1.4. South Korea
- 1.5. Rest of Asia Pacific
-
2. North America
- 2.1. United States
- 2.2. Canada
- 2.3. Mexico
-
3. Europe
- 3.1. Germany
- 3.2. United Kingdom
- 3.3. Italy
- 3.4. France
- 3.5. Rest of Europe
-
4. South America
- 4.1. Brazil
- 4.2. Argentina
- 4.3. Rest of South America
-
5. Middle East and Africa
- 5.1. Saudi Arabia
- 5.2. South Africa
- 5.3. Rest of Middle East and Africa
Steel Tire Cord Market Regional Market Share
Geographic Coverage of Steel Tire Cord Market
Steel Tire Cord Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 4.02% from 2020-2034 |
| Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Increasing Automotive Production; Rising Demand for Sustainable Tires
- 3.3. Market Restrains
- 3.3.1. Increasing Automotive Production; Rising Demand for Sustainable Tires
- 3.4. Market Trends
- 3.4.1. Increasing Demand from Tire Industry
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Global Steel Tire Cord Market Analysis, Insights and Forecast, 2020-2032
- 5.1. Market Analysis, Insights and Forecast - by Type
- 5.1.1. Brass Coated
- 5.1.2. Zinc Coated
- 5.1.3. Copper Coated
- 5.1.4. Other types
- 5.2. Market Analysis, Insights and Forecast - by Application
- 5.2.1. Passenger Vehicle Tires
- 5.2.2. Commercial Vehicle Tires
- 5.2.3. Two Wheeler Tires
- 5.2.4. Aircraft Tires
- 5.2.5. Industrial Tires
- 5.3. Market Analysis, Insights and Forecast - by Region
- 5.3.1. Asia Pacific
- 5.3.2. North America
- 5.3.3. Europe
- 5.3.4. South America
- 5.3.5. Middle East and Africa
- 5.1. Market Analysis, Insights and Forecast - by Type
- 6. Asia Pacific Steel Tire Cord Market Analysis, Insights and Forecast, 2020-2032
- 6.1. Market Analysis, Insights and Forecast - by Type
- 6.1.1. Brass Coated
- 6.1.2. Zinc Coated
- 6.1.3. Copper Coated
- 6.1.4. Other types
- 6.2. Market Analysis, Insights and Forecast - by Application
- 6.2.1. Passenger Vehicle Tires
- 6.2.2. Commercial Vehicle Tires
- 6.2.3. Two Wheeler Tires
- 6.2.4. Aircraft Tires
- 6.2.5. Industrial Tires
- 6.1. Market Analysis, Insights and Forecast - by Type
- 7. North America Steel Tire Cord Market Analysis, Insights and Forecast, 2020-2032
- 7.1. Market Analysis, Insights and Forecast - by Type
- 7.1.1. Brass Coated
- 7.1.2. Zinc Coated
- 7.1.3. Copper Coated
- 7.1.4. Other types
- 7.2. Market Analysis, Insights and Forecast - by Application
- 7.2.1. Passenger Vehicle Tires
- 7.2.2. Commercial Vehicle Tires
- 7.2.3. Two Wheeler Tires
- 7.2.4. Aircraft Tires
- 7.2.5. Industrial Tires
- 7.1. Market Analysis, Insights and Forecast - by Type
- 8. Europe Steel Tire Cord Market Analysis, Insights and Forecast, 2020-2032
- 8.1. Market Analysis, Insights and Forecast - by Type
- 8.1.1. Brass Coated
- 8.1.2. Zinc Coated
- 8.1.3. Copper Coated
- 8.1.4. Other types
- 8.2. Market Analysis, Insights and Forecast - by Application
- 8.2.1. Passenger Vehicle Tires
- 8.2.2. Commercial Vehicle Tires
- 8.2.3. Two Wheeler Tires
- 8.2.4. Aircraft Tires
- 8.2.5. Industrial Tires
- 8.1. Market Analysis, Insights and Forecast - by Type
- 9. South America Steel Tire Cord Market Analysis, Insights and Forecast, 2020-2032
- 9.1. Market Analysis, Insights and Forecast - by Type
- 9.1.1. Brass Coated
- 9.1.2. Zinc Coated
- 9.1.3. Copper Coated
- 9.1.4. Other types
- 9.2. Market Analysis, Insights and Forecast - by Application
- 9.2.1. Passenger Vehicle Tires
- 9.2.2. Commercial Vehicle Tires
- 9.2.3. Two Wheeler Tires
- 9.2.4. Aircraft Tires
- 9.2.5. Industrial Tires
- 9.1. Market Analysis, Insights and Forecast - by Type
- 10. Middle East and Africa Steel Tire Cord Market Analysis, Insights and Forecast, 2020-2032
- 10.1. Market Analysis, Insights and Forecast - by Type
- 10.1.1. Brass Coated
- 10.1.2. Zinc Coated
- 10.1.3. Copper Coated
- 10.1.4. Other types
- 10.2. Market Analysis, Insights and Forecast - by Application
- 10.2.1. Passenger Vehicle Tires
- 10.2.2. Commercial Vehicle Tires
- 10.2.3. Two Wheeler Tires
- 10.2.4. Aircraft Tires
- 10.2.5. Industrial Tires
- 10.1. Market Analysis, Insights and Forecast - by Type
- 11. Competitive Analysis
- 11.1. Global Market Share Analysis 2025
- 11.2. Company Profiles
- 11.2.1 Bekaert
- 11.2.1.1. Overview
- 11.2.1.2. Products
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Financials (Based on Availability)
- 11.2.2 Bridgestone (SHENYANG) Steelcord Co Ltd
- 11.2.2.1. Overview
- 11.2.2.2. Products
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Financials (Based on Availability)
- 11.2.3 Henen Hengxing Technology Co Ltd
- 11.2.3.1. Overview
- 11.2.3.2. Products
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Financials (Based on Availability)
- 11.2.4 Hyosung Corporation
- 11.2.4.1. Overview
- 11.2.4.2. Products
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Financials (Based on Availability)
- 11.2.5 Jiangsu Xingda Steel Tyre Cord Co Ltd
- 11.2.5.1. Overview
- 11.2.5.2. Products
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Financials (Based on Availability)
- 11.2.6 Saarstahl
- 11.2.6.1. Overview
- 11.2.6.2. Products
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Financials (Based on Availability)
- 11.2.7 Shandong Hualian Group Co Ltd
- 11.2.7.1. Overview
- 11.2.7.2. Products
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Financials (Based on Availability)
- 11.2.8 Sumitomo Electric Industries Ltd
- 11.2.8.1. Overview
- 11.2.8.2. Products
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Financials (Based on Availability)
- 11.2.9 Tokusen Kogyo Co Ltd
- 11.2.9.1. Overview
- 11.2.9.2. Products
- 11.2.9.3. SWOT Analysis
- 11.2.9.4. Recent Developments
- 11.2.9.5. Financials (Based on Availability)
- 11.2.10 HL Group Ltd
- 11.2.10.1. Overview
- 11.2.10.2. Products
- 11.2.10.3. SWOT Analysis
- 11.2.10.4. Recent Developments
- 11.2.10.5. Financials (Based on Availability)
- 11.2.11 Tokyo Rope Mfg Co Ltd *List Not Exhaustive
- 11.2.11.1. Overview
- 11.2.11.2. Products
- 11.2.11.3. SWOT Analysis
- 11.2.11.4. Recent Developments
- 11.2.11.5. Financials (Based on Availability)
- 11.2.1 Bekaert
List of Figures
- Figure 1: Global Steel Tire Cord Market Revenue Breakdown (million, %) by Region 2025 & 2033
- Figure 2: Asia Pacific Steel Tire Cord Market Revenue (million), by Type 2025 & 2033
- Figure 3: Asia Pacific Steel Tire Cord Market Revenue Share (%), by Type 2025 & 2033
- Figure 4: Asia Pacific Steel Tire Cord Market Revenue (million), by Application 2025 & 2033
- Figure 5: Asia Pacific Steel Tire Cord Market Revenue Share (%), by Application 2025 & 2033
- Figure 6: Asia Pacific Steel Tire Cord Market Revenue (million), by Country 2025 & 2033
- Figure 7: Asia Pacific Steel Tire Cord Market Revenue Share (%), by Country 2025 & 2033
- Figure 8: North America Steel Tire Cord Market Revenue (million), by Type 2025 & 2033
- Figure 9: North America Steel Tire Cord Market Revenue Share (%), by Type 2025 & 2033
- Figure 10: North America Steel Tire Cord Market Revenue (million), by Application 2025 & 2033
- Figure 11: North America Steel Tire Cord Market Revenue Share (%), by Application 2025 & 2033
- Figure 12: North America Steel Tire Cord Market Revenue (million), by Country 2025 & 2033
- Figure 13: North America Steel Tire Cord Market Revenue Share (%), by Country 2025 & 2033
- Figure 14: Europe Steel Tire Cord Market Revenue (million), by Type 2025 & 2033
- Figure 15: Europe Steel Tire Cord Market Revenue Share (%), by Type 2025 & 2033
- Figure 16: Europe Steel Tire Cord Market Revenue (million), by Application 2025 & 2033
- Figure 17: Europe Steel Tire Cord Market Revenue Share (%), by Application 2025 & 2033
- Figure 18: Europe Steel Tire Cord Market Revenue (million), by Country 2025 & 2033
- Figure 19: Europe Steel Tire Cord Market Revenue Share (%), by Country 2025 & 2033
- Figure 20: South America Steel Tire Cord Market Revenue (million), by Type 2025 & 2033
- Figure 21: South America Steel Tire Cord Market Revenue Share (%), by Type 2025 & 2033
- Figure 22: South America Steel Tire Cord Market Revenue (million), by Application 2025 & 2033
- Figure 23: South America Steel Tire Cord Market Revenue Share (%), by Application 2025 & 2033
- Figure 24: South America Steel Tire Cord Market Revenue (million), by Country 2025 & 2033
- Figure 25: South America Steel Tire Cord Market Revenue Share (%), by Country 2025 & 2033
- Figure 26: Middle East and Africa Steel Tire Cord Market Revenue (million), by Type 2025 & 2033
- Figure 27: Middle East and Africa Steel Tire Cord Market Revenue Share (%), by Type 2025 & 2033
- Figure 28: Middle East and Africa Steel Tire Cord Market Revenue (million), by Application 2025 & 2033
- Figure 29: Middle East and Africa Steel Tire Cord Market Revenue Share (%), by Application 2025 & 2033
- Figure 30: Middle East and Africa Steel Tire Cord Market Revenue (million), by Country 2025 & 2033
- Figure 31: Middle East and Africa Steel Tire Cord Market Revenue Share (%), by Country 2025 & 2033
List of Tables
- Table 1: Global Steel Tire Cord Market Revenue million Forecast, by Type 2020 & 2033
- Table 2: Global Steel Tire Cord Market Revenue million Forecast, by Application 2020 & 2033
- Table 3: Global Steel Tire Cord Market Revenue million Forecast, by Region 2020 & 2033
- Table 4: Global Steel Tire Cord Market Revenue million Forecast, by Type 2020 & 2033
- Table 5: Global Steel Tire Cord Market Revenue million Forecast, by Application 2020 & 2033
- Table 6: Global Steel Tire Cord Market Revenue million Forecast, by Country 2020 & 2033
- Table 7: China Steel Tire Cord Market Revenue (million) Forecast, by Application 2020 & 2033
- Table 8: India Steel Tire Cord Market Revenue (million) Forecast, by Application 2020 & 2033
- Table 9: Japan Steel Tire Cord Market Revenue (million) Forecast, by Application 2020 & 2033
- Table 10: South Korea Steel Tire Cord Market Revenue (million) Forecast, by Application 2020 & 2033
- Table 11: Rest of Asia Pacific Steel Tire Cord Market Revenue (million) Forecast, by Application 2020 & 2033
- Table 12: Global Steel Tire Cord Market Revenue million Forecast, by Type 2020 & 2033
- Table 13: Global Steel Tire Cord Market Revenue million Forecast, by Application 2020 & 2033
- Table 14: Global Steel Tire Cord Market Revenue million Forecast, by Country 2020 & 2033
- Table 15: United States Steel Tire Cord Market Revenue (million) Forecast, by Application 2020 & 2033
- Table 16: Canada Steel Tire Cord Market Revenue (million) Forecast, by Application 2020 & 2033
- Table 17: Mexico Steel Tire Cord Market Revenue (million) Forecast, by Application 2020 & 2033
- Table 18: Global Steel Tire Cord Market Revenue million Forecast, by Type 2020 & 2033
- Table 19: Global Steel Tire Cord Market Revenue million Forecast, by Application 2020 & 2033
- Table 20: Global Steel Tire Cord Market Revenue million Forecast, by Country 2020 & 2033
- Table 21: Germany Steel Tire Cord Market Revenue (million) Forecast, by Application 2020 & 2033
- Table 22: United Kingdom Steel Tire Cord Market Revenue (million) Forecast, by Application 2020 & 2033
- Table 23: Italy Steel Tire Cord Market Revenue (million) Forecast, by Application 2020 & 2033
- Table 24: France Steel Tire Cord Market Revenue (million) Forecast, by Application 2020 & 2033
- Table 25: Rest of Europe Steel Tire Cord Market Revenue (million) Forecast, by Application 2020 & 2033
- Table 26: Global Steel Tire Cord Market Revenue million Forecast, by Type 2020 & 2033
- Table 27: Global Steel Tire Cord Market Revenue million Forecast, by Application 2020 & 2033
- Table 28: Global Steel Tire Cord Market Revenue million Forecast, by Country 2020 & 2033
- Table 29: Brazil Steel Tire Cord Market Revenue (million) Forecast, by Application 2020 & 2033
- Table 30: Argentina Steel Tire Cord Market Revenue (million) Forecast, by Application 2020 & 2033
- Table 31: Rest of South America Steel Tire Cord Market Revenue (million) Forecast, by Application 2020 & 2033
- Table 32: Global Steel Tire Cord Market Revenue million Forecast, by Type 2020 & 2033
- Table 33: Global Steel Tire Cord Market Revenue million Forecast, by Application 2020 & 2033
- Table 34: Global Steel Tire Cord Market Revenue million Forecast, by Country 2020 & 2033
- Table 35: Saudi Arabia Steel Tire Cord Market Revenue (million) Forecast, by Application 2020 & 2033
- Table 36: South Africa Steel Tire Cord Market Revenue (million) Forecast, by Application 2020 & 2033
- Table 37: Rest of Middle East and Africa Steel Tire Cord Market Revenue (million) Forecast, by Application 2020 & 2033
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Steel Tire Cord Market?
The projected CAGR is approximately 4.02%.
2. Which companies are prominent players in the Steel Tire Cord Market?
Key companies in the market include Bekaert, Bridgestone (SHENYANG) Steelcord Co Ltd, Henen Hengxing Technology Co Ltd, Hyosung Corporation, Jiangsu Xingda Steel Tyre Cord Co Ltd, Saarstahl, Shandong Hualian Group Co Ltd, Sumitomo Electric Industries Ltd, Tokusen Kogyo Co Ltd, HL Group Ltd, Tokyo Rope Mfg Co Ltd *List Not Exhaustive.
3. What are the main segments of the Steel Tire Cord Market?
The market segments include Type, Application.
4. Can you provide details about the market size?
The market size is estimated to be USD 5.19 million as of 2022.
5. What are some drivers contributing to market growth?
Increasing Automotive Production; Rising Demand for Sustainable Tires.
6. What are the notable trends driving market growth?
Increasing Demand from Tire Industry.
7. Are there any restraints impacting market growth?
Increasing Automotive Production; Rising Demand for Sustainable Tires.
8. Can you provide examples of recent developments in the market?
In September 2021, Bekaert S.A. invested USD 23 million in its tire cord production plant in Lipetsk, Russia, to meet increasing demand in the region.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4750, USD 5250, and USD 8750 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "Steel Tire Cord Market," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the Steel Tire Cord Market report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the Steel Tire Cord Market?
To stay informed about further developments, trends, and reports in the Steel Tire Cord Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence