Tire Cord Fabric Market Segmentation:
Application Segment Analysis
The radial tires segment is predicted to gain the largest market share of 54.3% during the projected period by 2034, due to their grip, rolling resistance, and tire tread durability due to the radial construction. All of these associations further fuel the trend with a focus on fuel economy and prescribed performance standards for tire and/or safety performance by key regulatory bodies in places such as Europe and North America. Nylon cord is used with an elastomeric layer, and keeps focus on this application because it accounts for over 91% of global automotive production according to the data of the National Highway Traffic Safety Administration (NHTSA).
End use Segment Analysis
The passenger cars segment is anticipated to constitute the most significant growth by 2034, with 48.3% market share, mainly due to the total volume of global production, primarily from the Asia Pacific. The International Organization of Motor Vehicle Manufacturers (OICA) states 71 million global passenger car production in 2023, supported domestically in China and India. continued growth with the vehicle parc and increasing replacement tires will also sustain consumption in this segment.
Material Type Segment Analysis
The nylon tire cord fabric segment is anticipated to constitute the most significant growth by 2034, with 42.3% market share, mainly due to its tensile strength, resistance to fatigue, and excellent adhesion to rubber compounds. These attributes make nylon cord tire constructions ideal for heavy tires, high-speed tires, or both. The National Institute of Standards and Technology (NIST) cites that the molecular structure of nylon allows for high dimensional stability and low abrasion resistance, which are essential characteristics for well-performing tires. The U.S. Department of Energy also mentions that nylon helps reduce fuel expenditure by increasing fuel efficiency with lower rolling resistance.
Our in-depth analysis of the global tire cord fabric market includes the following segments:
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