As per the recent research conducted by a leading market insights provider FMI, the global Tire Cord market will expand at a healthy CAGR over the forecast period between 2023 and 2033. The aim of this study is to analyze key market dynamics affecting the sales of Tire Cord and provide vital insights to business owners to get benefited from forthcoming opportunities.
The report conducts an in-depth analysis of factors affecting the change in consumer behavior and purchasing patterns. It highlights the key growth prospects for demand and sales across seven major regions. It also provides refined sales projections and assists market players in identifying the remunerative segments among the verticals.
Upsurge in the Trend of Green Chemistry to Facilitate the Growth in the Tire Cord Market
Governments of several countries are emphasizing implementing regulations on chemicals that are hazardous to the environment, owing to the rising concerns regarding environmental sustainability. Hence, the growing trend of green chemistry or sustainable chemistry is being witnessed across the chemical industry.
Citing this trend, chemical manufacturers are reviewing their business strategies and shifting their focus towards adopting eco-friendly practices for the production of sustainable alternatives or less toxic chemicals. This is expected to favor the growth in the Tire Cord market.
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Key Tire Cord Market Takeaways and Projections
- The U.S. will lead the North America Tire Cord market, projecting the fastest growth in the region between 2023 and 2033
- Germany will collectively hold the largest share of the Europe market over the assessment period.
- India will emerge as a highly remunerative market in South Asia, contributing significant revenue share in the region through 2033.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
Competitive Landscape Analysis
The survey offers insights into critical trends and opportunities across the technology industry and studies their impact on demand-supply forces in the Tire Cord market. It also profiles a list of prominent companies including. To offer an in-depth analysis of prevailing competition, the survey provides a thorough market share analysis. The report also highlights key expansion strategies adopted by the players.
Tire Cord Market: Key Participants
Kordsa Teknik Tekstil A.S., Kolon Industries Inc., SRF Limited, Hyosung Corporation, Teijin Limited, and Indorama Ventures Company Limited, Toray Industries Inc. among others
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Tire Cord Demand Analysis by Category
The Global Market of Tire cords can be segmented by Material Type:
- Nylon
- Polyester
- Rayon
- Hybrid
- Others (Aramid Fibers)
The Global Market of Tire cords can be segmented by Tire Type:
- Radial
- Bias Tire
The Global Market of Tire cords can be segmented by Vehicle Type:
- Passenger Cars
- Two-Wheelers
- Off-Highway
- Commercial Vehicles
- Air Craft
- Others
The Global Market of Tire cords can be segmented by Application:
- OEM
- Remanufacturing
Report Benefits & Key Questions Answered
Tire Cord Historical Volume Analysis: The analysis conducted by FMI analyses key factors that affected the growth in the market over the past half-decade and highlight its consequent impact. It also sheds the light on the demand and sales registered between 2018 and 2022 and forecasts the sales performance of Tire Cord for the coming forecast period 2023-2033.
Tire Cord Category & Segment Level Analysis: The category & segment level analysis conducted by FMI provides insights into factors affecting the demand outlook across the segments. It studies the vital dynamics across each segment and also highlights their growth prospects in the coming decade.
Merger and Acquisition Activity in Tire Cord: Future Market Insight’s analysis also includes merger & acquisition activity adopted by leading players. Tire Cord manufacturers and stakeholders will engage in M&As to expand their production capacity. It also provides insights that will assist the market players in understanding its impact on the competitive landscape and market share.
Tire Cord Market Trend Analysis: The latest study by FMI on the Tire Cord market offers exclusive insights into how leading players are aligning their strategies with respect to current trends. It discloses data regarding upcoming trends in the technology industry to assist market players in constructing an effective strategy to capitalize on them.
Tire Cord Company & Brand Share Analysis: A detailed study by FMI highlights a list of leading market players and stakeholders in the global Tire Cord market. It examines the business execution, cost structure analysis, and supply chain analysis, market share analysis of players for the assessment period 2023-2033.
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About Future Market Insights, Inc.
Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.
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