Europe Tire Reinforcement Market Forecast 2017-2025
KEY FINDINGS The Europe tire reinforcement market is anticipated to grow at a CAGR of 2.79%, collecting a net worth of $3309 million over the forecast period of 2017-2025. MARKET INSIGHTS The market is being presented with prospective growth opportunities on account of the enhanced properties of reinforced tires. These properties enable the tires to be more rigid, stable, provide better traction and carry any extra load. Therefore, these tires find application in sports cars, estate cars, trucks, vans, and delivery vehicles. The market segment for reinforced tire includes material and type. The materials range from polyester, nylon, rayon, steel, etc. and the type includes tire cord fabric and bead wire. A major threat to the expansion of the market is the ever changing raw material prices. COMPETITIVE INSIGHTS Kolon Industries Inc, Kordsa Global, Formosa Taffeta Co Ltd, Dupont, Bekaert, Michelin and Toray Industries Inc are few of the well-known companies in this market.