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Global Tire Reinforcement Materials Market 2016-2020

Global Tire Reinforcement Materials Market 2016-2020

About Tire Reinforcement Materials

Reinforced tires are made to provide strength, stability, and withstand extra load and pressure on vehicles. These tires also last longer, resist mechanical damage, and provide higher rigidity. Tire cord fabric and tire bead wires are the essential components used in reinforced tires. Steel cord fabric, steel bead wire, polyester tire cord, rayon tire cord, and nylon tire cord are the most commonly used materials for manufacturing reinforced tires.

Technavio’s analysts forecast the global tire reinforcement materials market to grow at a CAGR of 4.3% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global tire reinforcement materials market for 2016-2020. To calculate the market size, the report considers the revenue generated through the sales of different types of tire reinforcement materials across key regions by considering 2015 as the base year.The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • Europe
  • ROW
Technavio's report, Global Tire Reinforcement Materials Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Bekaert
  • Hyosung
  • Kolon Industries
  • Kordsa Global
  • Toray Industries
Other prominent vendors
  • SRF
  • Milliken & Company
  • CORDENKA
  • Tokusen Kogyo
Market driver
  • Enhanced properties of reinforced tires.
  • For a full, detailed list, view our report
Market challenge
  • Stringent government regulations.
  • For a full, detailed list, view our report
Market trend
  • Increasing importance of vehicle fuel efficiency.
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Tire Reinforcement Materials Market 2016-2020

Technavio recognizes the following companies as the key players in the global tire reinforcement materials market: Bekaert, Hyosung, Kolon Industries, Kordsa Global, and Toray Industries.

Other prominent vendors in the market are: SRF, Milliken & Company, CORDENKA, and Tokusen Kogyo.

Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is increasing demand for eco-friendly tires. Eco-friendly tires are those tires in which the rubber compound contains natural or recycled products and can also contain non-aromatic oils. Owing to growing environmental concerns, vendors are shifting toward the use of natural and recycled materials to manufacture tire. This decreases fuel consumption by reducing rolling resistance, enhances tire performance and lessens greenhouse gas emissions.”

According to the report, one of the primary drivers in the market is growth in automotive industry. The automotive industry is growing due to the increasing sales of passenger and commercial vehicles worldwide. In terms of units, an estimated 89.68 million vehicles were sold in 2015. The number is expected to rise to 108.31 million by 2020. Rising per capita income and population growth are expected to increase the acceptance of vehicles.

Further, the report states that one major challenge in the market is volatile raw material prices. The volatile prices of raw materials for tire manufacturing pose a major threat in the tire reinforcement materials market. Rubber is one of the major raw materials used for manufacturing tires and accounts for over 60% of the manufacturing cost of tires. The increase in prices of rubber is affecting the profit margins of vendors. The price hike in crude oil has also affected the profit margins of vendors as crude oil derivatives are used in tire manufacturing.

Companies Mentioned

Bekaert, Hyosung, Kolon Industries, Kordsa Global, Toray Industries, SRF, Milliken & Company, CORDENKA, Tokusen Kogyo.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
      • Table Global tire reinforcement materials market
      • Table Global tire reinforcement materials market by type
      • Table Global tire reinforcement materials market by material
      • Table Global tire reinforcement materials market by geography
    • Top-vendor offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
      • Table Manufacturing of tire cord
  • Market landscape
    • Market size and forecast
      • Table Global tire reinforcement materials market 2015-2020 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
    • Key stakeholders in global tire reinforcement materials market
      • Table Key stakeholders in global tire reinforcement materials market
  • Market segmentation by type
    • Table Global tire reinforcement materials market by type 2015 and 2020 (%)
    • Global tire cord fabric market
      • Table Global tire cord fabric market 2015-2020 ($ billions)
    • Global tire bead wire market
      • Table Global tire bead wire market 2015-2020 ($ billions)
  • Market segmentation by material
    • Table Global tire reinforcement materials market by material 2015 and 2020 (%)
    • Global steel tire reinforcement materials market
      • Table Global steel tire reinforcement materials market 2015-2020 ($ billions)
    • Global polyester tire reinforcement materials market
      • Table Global polyester tire reinforcement materials market 2015-2020 ($ billions)
    • Global rayon tire reinforcement materials market
      • Table Global rayon tire reinforcement materials market 2015-2020 ($ billions)
    • Global nylon tire reinforcement materials market
      • Table Global nylon tire reinforcement materials market 2015-2020 ($ billions)
    • Global market for other tire reinforcement materials
      • Table Global market for other tire reinforcement materials 2015-2020 ($ millions)
  • Geographic segmentation
    • Table Global tire reinforcement materials market by geography 2015 and 2020 (%)
    • Tire reinforcement materials market in Americas
      • Table Tire reinforcement materials market in Americas 2015-2020 ($ billions)
    • Tire reinforcement materials market in Europe
      • Table Tire reinforcement materials market in Europe 2015-2020 ($ billions)
    • Tire reinforcement materials market in APAC
      • Table Tire reinforcement materials market in APAC 2015-2020 ($ billions)
    • Tire reinforcement materials market in ROW
      • Table Tire reinforcement materials market in ROW 2015-2020 ($ billions)
  • Market drivers
    • Growth in automotive industry
      • Table Global motor vehicle sales 2015-2020 (millions of units)
      • Table Global passenger vehicle sales 2015-2020 (millions of units)
      • Table Global commercial vehicle sales 2015-2020 (millions of units)
      • Table Demand for motorcycle tires by volume 2016-2021 (%)
      • Table Global market estimates for hybrid, plug-in hybrid, and electric vehicles 2015 and 2020 (Units)
    • Economic growth in APAC
      • Table Real GDP growth rate for major countries in APAC 2014 and 2015 (%)
    • Enhanced properties of reinforced tires
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Volatile raw material prices
      • Table Price of rubber January 2016 to July 2016 (US cents per pound)
      • Table Global tire market by raw material 2015
    • Stringent government regulations
    • Excess production capabilities in China
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Increasing demand for eco-friendly tires
      • Table Global standard tire and green tire market 2012 and 2020 ($ billions)
    • Increasing importance of vehicle fuel efficiency
    • Increasing demand for extra load tires
  • Vendor landscape
    • Competitive scenario
    • Major market vendors
      • Table Global tire reinforcement materials market: Major vendors
    • Bekaert
      • Table Bekaert: Business segmentation by revenue 2015
      • Table Bekaert: Geographic segmentation by revenue 2015
      • Table Bekaert: Key takeaways
    • Hyosung
      • Table Hyosung: Business segmentation
      • Table Hyosung: Key takeaways
    • Kolon Industries
      • Table Kolon Industries: Business segmentation
      • Table Kolon Industries: Key takeaways
    • Kordsa Global
      • Table Kordsa Global: Business segmentation
      • Table Kordsa Global: Key takeaways
    • Toray Industries
      • Table Toray Industries: Business segmentation
      • Table Toray Industries: Key takeaways
    • Other prominent vendors
  • Appendix
    • List of abbreviations
  • Explore Technavio

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