Tire Cord Fabrics Market Regional Analysis

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.