Global Automotive Steel Cords Market Growth 2025-2031

The global Automotive Steel Cords market size is predicted to grow from US$ 5190 million in 2025 to US$ 6498 million in 2031; it is expected to grow at a CAGR of 3.8% from 2025 to 2031.

Automotive steel cords are high-strength steel wires that play a critical role in reinforcing various automotive components, particularly tires. They are composed of several fine, high-tensile steel wires twisted or braided together to form robust cords that are embedded within tire structures. This reinforcement enhances the tire’s strength, stability, and durability, allowing it to withstand the stresses of high-speed travel and variable road conditions. Beyond tires, automotive steel cords are also used in other parts, such as belts and hoses, where resistance to stretching and deformation is essential for optimal performance.

Market Drivers:

Growth in Automotive Production:

Rising vehicle manufacturing, particularly in emerging markets like China and India, boosts demand for steel cords used in tires and components. Expansion of the electric vehicle (EV) market, where heavier battery packs require durable tires reinforced with steel cords for load-bearing capacity and safety.

​Demand for High-Performance Tires:

Consumer and OEM emphasis on fuel efficiency drives innovation in low rolling resistance tires, where steel cords enhance structural integrity. Safety regulations push for advanced tire durability, puncture resistance, and stability, increasing reliance on steel cord reinforcement.

​Technological Advancements:

The development of lighter, high-tensile steel cords improves tire performance without compromising strength, aligning with EV weight-reduction goals. Innovations in coatings and corrosion-resistant materials extend tire lifespan and reliability.

Market Challenges:

​Raw Material Volatility:

Fluctuating prices of iron ore and energy-intensive steel production impact cost stability. Environmental regulations on carbon emissions from steel manufacturing could increase operational costs.

​Competition from Alternatives:

Lightweight materials like aramid fibers or composite materials threaten to replace steel cords in applications prioritizing weight reduction for fuel efficiency.

​Manufacturing Complexities:

Specialized production processes for steel cords require significant capital investment and limit scalability. Adaptation to new tire designs (e.g., airless tires) may demand re-engineering of steel cord configurations.

​Economic and Supply Chain Risks:

Cyclical automotive industry trends expose the market to downturns, reducing vehicle production and tire demand. Global supply chain disruptions (e.g., geopolitical tensions, and pandemics) affect material availability and logistics.

​EV-Driven Trade-offs:

While EVs increase demand for robust steel cords, their focus on lightweight may push manufacturers to seek alternative materials, creating a balancing act between strength and weight.

LP Information, Inc. (LPI) ' newest research report, the “Automotive Steel Cords Industry Forecast” looks at past sales and reviews total world Automotive Steel Cords sales in 2024, providing a comprehensive analysis by region and market sector of projected Automotive Steel Cords sales for 2025 through 2031. With Automotive Steel Cords sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Automotive Steel Cords industry.

This Insight Report provides a comprehensive analysis of the global Automotive Steel Cords landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Automotive Steel Cords portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Automotive Steel Cords market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Automotive Steel Cords and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Automotive Steel Cords.

This report presents a comprehensive overview, market shares, and growth opportunities of Automotive Steel Cords market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Normal Tensile (NT)
High Tensile (HT)
Super Tensile (ST)
Ultra Tensile (UT)

Segmentation by Application:
Passanger Cars
Commercial Vehicle

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Bekaert
Jiangsu Xingda Steel Cord
ArcelorMittal
Hyosung
Shandong SNTON Steel Cord
Bridgestone
Shougang Century
Tokusen
Tokyo Rope MFG
Hubei Fuxing New Material
BMZ
Henan Hengxing
Junma Group
Sumitomo Electric Industries
DAYE SHARES
Zenith Steel Group
KISWIRE LTD
LEI DA Group

Key Questions Addressed in this Report

What is the 10-year outlook for the global Automotive Steel Cords market?

What factors are driving Automotive Steel Cords market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Automotive Steel Cords market opportunities vary by end market size?

How does Automotive Steel Cords break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.