Tire Reinforcement Material Market: 2020 Global Industry Growth, Trends, Share and Forecast 2027

Adhesives are used to join most composites and plastic materials. They are known for improving stress distribution and expanding the choices of composites and dissimilar substrates throughout the vehicle. Adhesive is the most versatile bonding agent available today and is used by vehicle manufacturers to make cars lighter and tougher. Moreover, adhesives are made from precise blends of synthetic rubber elastomers, resins, and additives, such as photo initiators and stabilizers, which enhance the characteristics of tire reinforcement material. In addition, currently automobile manufacturers glue aluminum and composites together so that vehicle body parts are intact even at top speed and high pressure. Adhesives do not lose strength and hence are used for these applications. Furthermore, their bonding renders the vehicles noise free, durable, and safe by replacing conventional joining techniques, such as welding, riveting, and bolting.

This report projects the trends and opportunities of the global tire reinforcement material market. It includes a qualitative and quantitative analysis with comprehensive research methodologies and reliable projections to understand the present overview and predict the market behavior during the forecast period.

Growth in the automotive industry, owing to the increase in sales of passenger and commercial vehicles majorly drives the market. Moreover, rise in use of rayon and steel in the belts of car by automobile manufacturers, further leads to market growth. In addition, apart from belt textile, rayon is widely used for carcass reinforcement (made up of one layer of metal reinforcing elements). However, volatile prices of raw materials, such as rubber (accounting for 60% composition) for tire manufacturing pose a major threat in the tire reinforcement materials market. In addition, the rise in crude oil prices is expected to deter the market growth as crude oil derivatives such as carbon black, and nylon are used in tire manufacturing.

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The global tire reinforcement material market is segmented based on type, material, and geography. By type, the market is bifurcated into tire cord fabric and tire bead wire. By material, the market is divided into steel tire, polyester tire, rayon, nylon, and others (rubber, fabric, and carbon black). Geographically, the tire reinforcement material market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Key market players in this sector involve Dunlop, Goodyear, Bridgestone, Bekaert, Hyosung, Kolon Industries, Kordsa Global, Toray Industries, SRF, and Cordenka.

Key Benefits

This report provides a quantitative analysis of the current trends, estimations, and dynamics through 2017-2023, which assists to identify the prevailing market opportunities.
Major countries in each region are studied to evaluate trends and opportunities of the global market.
The region-wise and country-wise market conditions are comprehensively analyzed in the report. Key players of the tire reinforcement material market are also listed.
This study evaluates value chain to understand the competitive environment across geographies.
An in-depth analysis of segmentation is provided to elucidate the dominant opportunities.

Tire Reinforcement Material Market Key Segments:

By Type

Tire Cord Fabric
Tire Bead Wire

By Material

Steel Tire
Polyester Tire
Rayon
Nylon
Others (Rubber, Fabric, and Carbon Black)

By Geography

North America

U.S.
Canada
Mexico

Europe

Germany
Spain
UK
Russia
France
Rest of Europe

Asia-Pacific

China
India
Japan
Australia
Korea
Rest of Asia-Pacific

LAMEA

Brazil
Turkey
South Africa
Rest of LAMEA

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