Key Insights
The global steel tire cord market is experiencing steady growth, projected to maintain a Compound Annual Growth Rate (CAGR) of 3.03% from 2025 to 2033. This growth is fueled by several key drivers. The increasing demand for high-performance tires, particularly in the burgeoning automotive and heavy-duty vehicle sectors, is a primary factor. The preference for radial tires over bias-ply tires, which require significantly more steel tire cord, further contributes to market expansion. Technological advancements in steel cord manufacturing, leading to improved strength, durability, and fatigue resistance, are also driving adoption. Furthermore, the expanding global tire manufacturing industry, particularly in developing economies like Asia-Pacific, provides a robust foundation for market growth. However, fluctuating raw material prices, particularly steel, pose a significant challenge to manufacturers, impacting profitability and potentially slowing down growth in certain periods. Competition among established players like Bekaert, Bridgestone, and Sumitomo Electric Industries, necessitates continuous innovation and cost optimization strategies.
Segmentation within the steel tire cord market is multifaceted, encompassing various cord types (e.g., high-tensile, extra-high-tensile), manufacturing processes, and end-use applications (passenger vehicles, commercial vehicles, off-highway vehicles). Regional variations in market demand exist, with regions experiencing rapid industrialization and automotive production expansion exhibiting higher growth rates. While precise regional data is unavailable, leveraging the overall CAGR and considering the established presence of key players in various regions allows for a reasonable estimation of regional market shares. The market's future trajectory hinges on the continued growth of the automotive industry, advancements in tire technology, and the ability of manufacturers to effectively manage fluctuating input costs. This requires a strategic approach, focusing on innovation, supply chain optimization, and diversification to mitigate risks and capitalize on emerging opportunities in the global steel tire cord market.
Steel Tire Cord Market: A Comprehensive Report (2019-2033)
This in-depth report provides a comprehensive analysis of the global Steel Tire Cord Market, offering invaluable insights for industry stakeholders, investors, and strategic decision-makers. Covering the period from 2019 to 2033, with a focus on the base year 2025 and forecast period 2025-2033, this report meticulously examines market dynamics, key players, and future growth prospects. The report leverages extensive primary and secondary research to provide actionable intelligence on market size (valued in Millions USD), CAGR, segmentation, and competitive landscape.
Steel Tire Cord Market Market Concentration & Dynamics
The Steel Tire Cord market exhibits a moderately concentrated landscape, with a few major players holding significant market share. Key players like Bekaert, Bridgestone (SHENYANG) Steelcord Co Ltd, Hyosung Corporation, and Sumitomo Electric Industries Ltd. dominate the market, influencing pricing strategies and technological advancements. However, several regional players also contribute significantly, creating a dynamic competitive environment. Market share analysis reveals a top 5 player concentration of approximately xx%, indicating opportunities for both consolidation and niche market penetration. The innovation ecosystem is characterized by continuous R&D efforts focusing on enhancing material properties, production processes, and sustainability. Regulatory frameworks concerning material standards and environmental impact influence manufacturing processes and product development. Substitute products, such as aramid fibers, present limited competition but warrant monitoring. End-user trends towards lighter and more fuel-efficient vehicles drive demand for high-performance steel tire cords. M&A activity in the past five years has been moderate, with approximately xx deals recorded, primarily focused on expanding geographical reach and technological capabilities.
- Market Share: Top 5 players hold approximately xx% of the market.
- M&A Activity (2019-2024): Approximately xx deals recorded.
- Key Innovation Areas: Material properties, production efficiency, sustainability.
- Regulatory Focus: Material standards, environmental compliance.
Steel Tire Cord Market Industry Insights & Trends
The global Steel Tire Cord Market is projected to experience robust growth during the forecast period (2025-2033), driven by a burgeoning automotive industry, particularly in emerging economies. The market size in 2025 is estimated at xx Million USD, exhibiting a CAGR of xx% from 2025 to 2033. This growth is fueled by several key factors. Increased vehicle production, particularly in developing nations, directly translates to higher demand for steel tire cords. Technological advancements in tire manufacturing, such as the adoption of high-strength steel and advanced production techniques, contribute to increased efficiency and product quality. The growing popularity of electric vehicles (EVs) and the resulting need for advanced tire technologies further propel market expansion. Changing consumer preferences towards longer-lasting, fuel-efficient tires also influence demand. However, fluctuations in raw material prices and economic downturns could potentially pose challenges to consistent market growth.
Key Markets & Segments Leading Steel Tire Cord Market
The Asia-Pacific region dominates the Steel Tire Cord market, driven by robust automotive production and a rapidly expanding middle class. China, in particular, stands out as a key market due to its massive vehicle production capacity.
- Asia-Pacific Region Dominance Drivers:
- High automotive production volume.
- Rapid economic growth and rising middle class.
- Expanding infrastructure projects.
- Increasing government support for the automotive industry.
The dominance of the Asia-Pacific region stems from a confluence of factors. The region’s robust economic growth fuels high vehicle production rates, driving up demand for steel tire cords. Expanding infrastructure development in several countries within the region further boosts the need for tires, and in turn, steel tire cords. Government support and incentives aimed at boosting the automotive sector have also played a pivotal role in the region's dominance.
Steel Tire Cord Market Product Developments
Recent product innovations in the steel tire cord market focus on developing high-tensile strength materials to enhance tire durability and fuel efficiency. Advancements in coating technologies improve the adhesion between the tire cord and rubber, resulting in superior tire performance. Applications are expanding beyond conventional passenger and commercial vehicles to include specialized tires for construction machinery, agricultural equipment, and off-road vehicles. These developments enhance product offerings and drive competitive advantage within the market.
Challenges in the Steel Tire Cord Market Market
The Steel Tire Cord market faces significant challenges, including volatility in raw material prices (steel, zinc) impacting production costs and profitability. Supply chain disruptions, especially during times of global uncertainty, can lead to production delays and shortages. Intense competition from both established players and new entrants necessitates constant innovation and cost optimization. Stringent environmental regulations related to manufacturing processes and waste management pose compliance challenges. These factors can collectively impact market growth and profitability.
Forces Driving Steel Tire Cord Market Growth
Several factors drive Steel Tire Cord market growth. The increasing demand for automobiles worldwide, particularly in developing nations, is a primary driver. The trend toward lighter vehicle designs necessitates the use of high-strength, lightweight steel tire cords. Government initiatives promoting fuel efficiency and environmental sustainability indirectly boost demand for advanced tire technologies, including those using high-performance steel tire cords.
Challenges in the Steel Tire Cord Market Market
Long-term growth is bolstered by continuous R&D efforts focused on improving material properties, reducing production costs, and enhancing sustainability. Strategic partnerships and collaborations between tire manufacturers and steel cord producers foster innovation and market penetration. Expansion into new geographic markets and diversification into specialized applications provide further opportunities for growth.
Emerging Opportunities in Steel Tire Cord Market
Emerging opportunities lie in developing sustainable and eco-friendly steel tire cord manufacturing processes. The rising adoption of electric vehicles and the focus on longer-lasting, fuel-efficient tires present significant growth potential. Expansion into new applications, such as specialized tires for heavy-duty vehicles and off-road equipment, provides further avenues for market growth.
Leading Players in the Steel Tire Cord Market Sector
- 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
Key Milestones in Steel Tire Cord Market Industry
- September 2021: Bekaert S.A. invested USD 23 Million in its tire cord production plant in Lipetsk, Russia, to meet increasing regional demand. This demonstrates a strategic commitment to expanding production capacity in response to growing market opportunities.
Strategic Outlook for Steel Tire Cord Market Market
The future of the Steel Tire Cord market looks promising, fueled by continued growth in the automotive industry, technological advancements, and the increasing demand for high-performance tires. Strategic partnerships, investments in R&D, and expansion into emerging markets will be crucial for players to capitalize on future growth opportunities. The focus on sustainable and eco-friendly production processes will further shape the market’s trajectory.
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 REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of 3.03% from 2019-2033 |
| 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, 2019-2031
- 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, 2019-2031
- 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, 2019-2031
- 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, 2019-2031
- 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, 2019-2031
- 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, 2019-2031
- 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 2024
- 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 2024 & 2032
- Figure 2: Asia Pacific Steel Tire Cord Market Revenue (Million), by Type 2024 & 2032
- Figure 3: Asia Pacific Steel Tire Cord Market Revenue Share (%), by Type 2024 & 2032
- Figure 4: Asia Pacific Steel Tire Cord Market Revenue (Million), by Application 2024 & 2032
- Figure 5: Asia Pacific Steel Tire Cord Market Revenue Share (%), by Application 2024 & 2032
- Figure 6: Asia Pacific Steel Tire Cord Market Revenue (Million), by Country 2024 & 2032
- Figure 7: Asia Pacific Steel Tire Cord Market Revenue Share (%), by Country 2024 & 2032
- Figure 8: North America Steel Tire Cord Market Revenue (Million), by Type 2024 & 2032
- Figure 9: North America Steel Tire Cord Market Revenue Share (%), by Type 2024 & 2032
- Figure 10: North America Steel Tire Cord Market Revenue (Million), by Application 2024 & 2032
- Figure 11: North America Steel Tire Cord Market Revenue Share (%), by Application 2024 & 2032
- Figure 12: North America Steel Tire Cord Market Revenue (Million), by Country 2024 & 2032
- Figure 13: North America Steel Tire Cord Market Revenue Share (%), by Country 2024 & 2032
- Figure 14: Europe Steel Tire Cord Market Revenue (Million), by Type 2024 & 2032
- Figure 15: Europe Steel Tire Cord Market Revenue Share (%), by Type 2024 & 2032
- Figure 16: Europe Steel Tire Cord Market Revenue (Million), by Application 2024 & 2032
- Figure 17: Europe Steel Tire Cord Market Revenue Share (%), by Application 2024 & 2032
- Figure 18: Europe Steel Tire Cord Market Revenue (Million), by Country 2024 & 2032
- Figure 19: Europe Steel Tire Cord Market Revenue Share (%), by Country 2024 & 2032
- Figure 20: South America Steel Tire Cord Market Revenue (Million), by Type 2024 & 2032
- Figure 21: South America Steel Tire Cord Market Revenue Share (%), by Type 2024 & 2032
- Figure 22: South America Steel Tire Cord Market Revenue (Million), by Application 2024 & 2032
- Figure 23: South America Steel Tire Cord Market Revenue Share (%), by Application 2024 & 2032
- Figure 24: South America Steel Tire Cord Market Revenue (Million), by Country 2024 & 2032
- Figure 25: South America Steel Tire Cord Market Revenue Share (%), by Country 2024 & 2032
- Figure 26: Middle East and Africa Steel Tire Cord Market Revenue (Million), by Type 2024 & 2032
- Figure 27: Middle East and Africa Steel Tire Cord Market Revenue Share (%), by Type 2024 & 2032
- Figure 28: Middle East and Africa Steel Tire Cord Market Revenue (Million), by Application 2024 & 2032
- Figure 29: Middle East and Africa Steel Tire Cord Market Revenue Share (%), by Application 2024 & 2032
- Figure 30: Middle East and Africa Steel Tire Cord Market Revenue (Million), by Country 2024 & 2032
- Figure 31: Middle East and Africa Steel Tire Cord Market Revenue Share (%), by Country 2024 & 2032
List of Tables
- Table 1: Global Steel Tire Cord Market Revenue Million Forecast, by Region 2019 & 2032
- Table 2: Global Steel Tire Cord Market Revenue Million Forecast, by Type 2019 & 2032
- Table 3: Global Steel Tire Cord Market Revenue Million Forecast, by Application 2019 & 2032
- Table 4: Global Steel Tire Cord Market Revenue Million Forecast, by Region 2019 & 2032
- Table 5: Global Steel Tire Cord Market Revenue Million Forecast, by Type 2019 & 2032
- Table 6: Global Steel Tire Cord Market Revenue Million Forecast, by Application 2019 & 2032
- Table 7: Global Steel Tire Cord Market Revenue Million Forecast, by Country 2019 & 2032
- Table 8: China Steel Tire Cord Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 9: India Steel Tire Cord Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 10: Japan Steel Tire Cord Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 11: South Korea Steel Tire Cord Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 12: Rest of Asia Pacific Steel Tire Cord Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 13: Global Steel Tire Cord Market Revenue Million Forecast, by Type 2019 & 2032
- Table 14: Global Steel Tire Cord Market Revenue Million Forecast, by Application 2019 & 2032
- Table 15: Global Steel Tire Cord Market Revenue Million Forecast, by Country 2019 & 2032
- Table 16: United States Steel Tire Cord Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 17: Canada Steel Tire Cord Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 18: Mexico Steel Tire Cord Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 19: Global Steel Tire Cord Market Revenue Million Forecast, by Type 2019 & 2032
- Table 20: Global Steel Tire Cord Market Revenue Million Forecast, by Application 2019 & 2032
- Table 21: Global Steel Tire Cord Market Revenue Million Forecast, by Country 2019 & 2032
- Table 22: Germany Steel Tire Cord Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 23: United Kingdom Steel Tire Cord Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 24: Italy Steel Tire Cord Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 25: France Steel Tire Cord Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 26: Rest of Europe Steel Tire Cord Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 27: Global Steel Tire Cord Market Revenue Million Forecast, by Type 2019 & 2032
- Table 28: Global Steel Tire Cord Market Revenue Million Forecast, by Application 2019 & 2032
- Table 29: Global Steel Tire Cord Market Revenue Million Forecast, by Country 2019 & 2032
- Table 30: Brazil Steel Tire Cord Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 31: Argentina Steel Tire Cord Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 32: Rest of South America Steel Tire Cord Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 33: Global Steel Tire Cord Market Revenue Million Forecast, by Type 2019 & 2032
- Table 34: Global Steel Tire Cord Market Revenue Million Forecast, by Application 2019 & 2032
- Table 35: Global Steel Tire Cord Market Revenue Million Forecast, by Country 2019 & 2032
- Table 36: Saudi Arabia Steel Tire Cord Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 37: South Africa Steel Tire Cord Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 38: Rest of Middle East and Africa Steel Tire Cord Market Revenue (Million) Forecast, by Application 2019 & 2032
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Steel Tire Cord Market?
The projected CAGR is approximately 3.03%.
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 XX 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
