Tire Cord Fabrics Market
Report ID: SQMIG15A2541
Report ID: SQMIG15A2541
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Report ID:
SQMIG15A2541 |
Region:
Global |
Published Date: March, 2025
Pages:
195
|Tables:
114
|Figures:
69
Tire Cord Fabrics Market size was valued at USD 6.48 Billion in 2024 and is poised to grow from USD 6.89 Billion in 2025 to USD 11.24 Billion by 2033, growing at a CAGR of 6.3% during the forecast period (2026–2033).
Growing sales of vehicles around the world, rising demand for high-performance tires, advancements in tire manufacturing technologies, surging demand for tire replacement, and expansion of logistics and transportation industry verticals are estimated to favor the sales of tire cord fabrics.
Growing automotive manufacturing activity around the world is a result of increasing sales of vehicles, which is directly boosting the demand for tire cord fabrics. Robust urbanization and increasing disposable income are also key factors that are slated to supplement the global tire cord fabrics market growth in the long run. Increasing consumer demand for high-performance tires for their enhanced durability, fuel efficiency, and safety is also creating new business scope for market players.
The need for special tires for electric vehicles (EVs) that are lighter yet highly durable is also offering new revenue generation scope for tire cord fabrics suppliers looking to expand their reach. Growing investments in the R&D of high-strength, lightweight tire cord fabrics to support next-generation tire designs are also expected to play a crucial role in boosting sales potential for tire cord fabrics providers.
Increasing demand for innovative new tire technologies such as self-sealing tires and run-flat tires is also slated to uplift the adoption of better-quality reinforcement fabrics. Rapid expansion of the logistics and transportation industries is also estimated to favor the sales of tire cord fabrics. On the contrary, volatility in raw material pricing, stringent environmental regulations for synthetic cord fabrics, supply chain disruptions, availability of alternative reinforcement materials, and performance limitations of traditional fabrics are anticipated to impede the global tire cord fabrics demand outlook across the study period and beyond.
In January 2024, Hyosung Group, a leading South Korean company known for its textile-to-chemicals expertise revealed its plans to expand its business scope in India. The company is expected to focus on expanding its tire cord business in Indian market as the country emerges as one of the most lucrative automotive markets in the world. Hyosung had plans to increase their tire cord production capacities in India to set up a strong base in the South Asian region. The company is also focusing on bio textiles to enhance its sustainability potential and exploring the use of eco-friendly raw materials for its tire cord business as well.
In August 2023, Hailide New Material, a renowned Chinese manufacturer and supplier of tire cord fabrics and cloth announced its plans to invest USD 52 million to start a new facility in southern Vietnam. The move was made to avert and minimize any trade frictions and risks that could hurt the sales of tire cord fabrics in the future. The first phase of this new facility was estimated to have an annual capacity of 18,000 tons and span across 56,380-square meters in the Tay Ninh province of Vietnam. The company did not disclose any timeline for this new project, but it is estimated that the new facility will be highly crucial in helping Halide keep serving its tire cord clients such as Michelin, Bridgestone, and Continental.
In January 2023, Century Enka, a renowned producer and supplier of tire cord fabrics from India announced launch of commercial production of nylon tire cord fabric made from 100% recycled nylon waste. The novel material was unveiled by Century back in 2022 as it focused on improving sustainability of its businesses. The company is utilizing its own in-house waste from processing caprolactam, which is then recycled back to caprolactam and distilled to make it suitable to produce nylon tire cord fabric. The company is providing this sustainable material to Apollo Tyres for use in a select range of tires.
Market snapshot - 2026-2033
Global Market Size
USD 6.1 billion
Largest Segment
Passenger Cars
Fastest Growth
Commercial Vehicles
Growth Rate
6.3% CAGR
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Global Tire Cord Fabrics Market is segmented by Material, Tire Type, Application, Vehicle Type and region. Based on Material, the market is segmented into Nylon, Polyester, Rayon and Others. Based on Tire Type, the market is segmented into Radial Tires and Bias Tires. Based on Application, the market is segmented into OEM and Replacement. Based on Vehicle Type, the market is segmented into Passenger Cars and Commercial Vehicles. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Vehicle Type
Passenger cars are forecasted to hold the highest global tire cord fabrics market share in the future. Rapidly surging sales of passenger cars around the world on the back of rising disposable income of people is slated to help this segment bring in the most revenue. High emphasis on fuel efficiency and safety in passenger cars is also driving up the demand for novel tire technologies thereby also favoring the sales of tire cord fabrics. Investments in the development of new types of tires for electric vehicles are also slated to offer new business scope for tire cord fabrics suppliers looking to expand their business scope via this segment through 2032.
On the other hand, the demand for tire cord fabrics in commercial vehicles is slated to rise at a notable CAGR over the coming years. Rapid expansion of logistics and transportation industries has led to increased use of commercial vehicles. Commercial vehicles such as buses, trucks, and trailers carry heavy loads leading to higher tire wear, which in turn is expected to prompt more tire replacements. Use of advanced tire cord fabrics in commercial vehicle tires to enhance their durability and longevity are also slated to offer new business scope for market players in the long run. Emphasis on commercial vehicle fleet owners on reducing their operational costs is also driving up the demand for tires that do not need to be replaced very often as this cuts into their profits.
Analysis by Application
The replacement segment is estimated to bring in the most revenue for the global tire cord fabrics industry going forward. Rising emphasis on vehicle safety and imposition of stringent mandates to ensure the same are prompting more people to opt for tire replacements. Commercial vehicles are projected to be the major driving force behind the growth of this segment as they require more often tire replacements. Commercial tires often utilize nylon cord fabrics owing to their high wear resistance. Increasing demand for high-performance aftermarket tires among passenger car owners is also expected to help this segment boost its dominance.
Meanwhile, the OEM segment is expected to witness high demand for tire cord fabrics at a notable CAGR in the long run. The imposition of stringent vehicle emission reduction norms and demand for tires with lower rolling resistance are pushing OEM companies to invest in the R&D of new tires. Demand for aramid tire cord fabric is expected to shine bright in the OEM segment owing to its excellent strength-to-weight ratio as compared to other tire cord fabrics. Inclusion of high-performance OEM tires with new vehicles is also expected to help this segment generate new opportunities for market players in the long run.
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Asia Pacific is anticipated to account for the highest global tire cord fabrics market share in the future. High automotive manufacturing activity, surging sales of vehicles, and the presence of leading tire manufacturers are helping this region lead revenue generation on a global level. Growing urbanization is also a key factor cementing the dominance of this region.
China is estimated to bring in the most revenue for all tire cord fabric suppliers in the Asia Pacific. Surging vehicle manufacturing activity and demand for unique tires for electric vehicles are presenting new opportunities in the country. Japan and South Korea are also highly opportune countries in the Asia Pacific region owing to the presence of multiple automotive manufacturers and rising emphasis on improving vehicle safety prompting more tire replacements.
Europe is slated to emerge as the second-largest regional market for tire cord fabrics companies going forward. The presence of renowned automotive manufacturers, imposition of stringent vehicle safety regulations, and surging demand for high-performance and premium tires are helping generate new business scope in this region.
Germany takes the lead in terms of tire cord fabrics demand in the European region owing to the presence of high automotive manufacturing activity and rising demand for tires that enhance the fuel efficiency of vehicles. Growing use of hypercars and supercars by people in Germany owing to their high net-worth is also expected to create a new business scope for tire cord fabrics companies in the long run.
The demand for tire cord fabrics is expected to rise at a phenomenal CAGR in the Middle East and Africa region owing to growing industrialization and urbanization. Need for highly advanced tires with superior durability in high-temperature countries such as Saudi Arabia, the United Arab Emirates, Qatar, and Kuwait is also offering new opportunities for market players. Increasing vehicle ownership numbers and growing economic development of countries in this region are also expected to have a positive impact on tire cord fabrics demand over the coming years.
North America is also estimated to emerge as a highly rewarding region for tire cord fabric suppliers. The presence of leading automotive manufacturers, high number of passenger vehicles, developed automotive aftermarket industry, and rising demand for high-performance tires are helping boost sales of tire cord fabrics in this region.
The United States is anticipated to emerge as the leading revenue generator for tire cord fabric providers operating in the North American region. High use of advanced tires in military and defense vehicles, expansion of logistics industry, and growing investments in novel tire technology R&D are key factors driving the sales of tire cord fabrics in the country.
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Tire Cord Fabrics Market Drivers
Surge in Demand for Tire Replacement
Advancements in Tire Manufacturing Technologies
Tire Cord Fabrics Market Restraints
Performance Limitations of Traditional Fabrics
Volatility in Raw Material Pricing
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Tire cord fabric companies should focus on incorporating sustainability in their businesses to stand out from the competition. Investing in the R&D of novel tire cord fabric materials are targeting emerging automotive markets are also expected to boost revenue generation going forward. Investing in India, China, Germany, South Korea, Japan, and the United States will be the top priority of companies as per this global tire cord fabrics market analysis.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing automotive production activity, surging demand for tire replacement, and advancements in tire manufacturing technologies are projected to primarily drive the sales of tire cord fabrics over the coming years. On the contrary, volatility in raw material pricing and performance limitations of traditional fabrics are expected to slow down the adoption of tire cord fabrics in the future. The Asia Pacific region is slated to bring in the most revenue on a global level owing to high automotive manufacturing and presence of leading tire cord fabric manufacturers in countries such as South Korea, China, and Japan. Incorporation of sustainability in business models and focusing in smart tire R&D can also help companies expand their business scope in the future.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 6.48 Billion |
| Market size value in 2033 | USD 11.24 Billion |
| Growth Rate | 6.3% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Tire Cord Fabrics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Tire Cord Fabrics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Tire Cord Fabrics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
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