Lucintel Forecasts the Global Tire Reinforcement Material Market to Reach $18.7 billion by 2030
Lucintel Forecasts the Global Tire Reinforcement Material Market to Reach $18.7 billion by 2030
Blog Article
According to a market report by Lucintel, the future of the global tire reinforcement material market looks promising with opportunities in the automobile carcass, belt ply, and cap ply applications. The global tire reinforcement material market is expected to reach an estimated $18.7 billion by 2030 from $15.1 billion in 2024 at a CAGR of 3.6% from 2024 to 2030. The major drivers for this market are growing automotive industry, rising demand for fuel-efficient and sustainable tires, and advancements in tire technology and the use of high-performance materials.
A more than 150 – page report is developed to understand trends, opportunity and forecast in tire reinforcement material market to 2030 by type (tire cord fabric and tire bead wire), material type (steel, polyester, nylon, rayon, aramid, and others), technology (drawing, melt spinning, and solution spinning), application (automobile carcasses, belt ply, cap ply, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that tire cord fabric will remain the largest segment over the forecast period due to its qualities, including its resistance to abrasion, high strength, and controlled deformation.
Within this market, cap ply is expected to witness the highest growth over the forecast period.
Download sample by clicking on Tire Reinforcement Material Market
APAC will remain the largest region over the forecast period due to rising automotive production and expanding adoption of automobiles among population in the region.
Bridgestone, Century Enka, Cordenka, DuPont De Nemours, Formosa Taffeta, Kolon Industries, KORDSA Teknik Tekstil, NV Bekaert, SRF, Teijin are the major suppliers in the tire reinforcement material market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected] To get access of more than 1000 reports at fraction of cast visit Lucintel’s Analytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1 972.636.5056
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