Tire Reinforcement Materials Market Drivers, Strategies, Applications and Competitive Landscape to 2025

9th October, 2018 – Tire Reinforcement Materials Market is expected to witness increase in demand over the forecasted period owing to increasing demand of Automobiles and two wheelers in different part of world. Increasing demand of mobile owing to increase in disposable income of the people in different part of world. Tire reinforcement industry is expected to witness growth owing to increasing demand for advance products in airline industry. The tires manufactured by different companies by using tire reinforcement materials have to make their end product for end user to be very efficient owing to fact that tires of any automotive vehicles helps in achieving desired fuel efficiency. All the companies in tire reinforcement industry are expected to follow four strategic initiatives over the forecasted period that are as follows, growth, Empowered global team, innovation and operational excellence.

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Growth of the company in terms of volume and revenue should be there. In the time of globalisation a company should try to have expertise in their global team to have effective networking. A company should always strive for perennial improvement in its technology so that best in class productivity and reduce operational cost could be achieved. With increasing end user demand to have the highly efficient product a company should try getting innovating solution for their respective customer problem.

The major drivers of tire reinforcement materials market over the forecasted period is increasing demand of eco friendly tires. Increasing demand of automobiles motorcycles and cycles is also fuelling the growth of tire reinforcement materials market. Technology advancement in the generation of tires is also fuelling the growth of tire reinforcement materials market. Globalisation in the world is also fuelling the growth of tire reinforcement materials market owing to companies are pursuing their global strategies to enhance their growth and thus strengthens the growth of tire reinforcement materials market. Another driver that has contributed to the growth of tire reinforcement materials market is increase in replacement demand of tires .Growing rate of demand of retreading tires and fluctuating price of raw material can pose challenge over the forecasted period.

The major competitors in this category are Hyosung Corporation, CORDENKA GmbH, Century Enka Limited, Bekaert, Kordarna a.s, Formosa Taffeta Co. Ltd, Teijin Fibers Limited, Kordsa Inc CORDENKA, Bridgestone Corporation, Michelin, Continental AG, The Goodyear Tire and Rubber Company, Pirelli & C.S.p.A, Kumho Tire U.

Tire reinforcement materials market can be segment on the basis of type of materials that are steel cord fabric, rayon cord fabric, steel wire, nylon cord fabric, PEN (polyethylene naphtha late) cord fabric, aramid cord fabric. These materials are used to make different part of tires that are cap piles, carcasses, belt plies, bead for tires. All these materials are further used in motorcycles, bicycles and automobiles. New technologies such as nitrogen tire, eco tires and flat run tires are further segmenting the market. Largest growing market is of steel tire cord fabric market owing to increasing demand of heavy duty carcass market. This material is also used to manufacture radial tire.

Demand of radial tire is expected to increase over the forecasted period and thus it will be fuelling the growth of tire reinforcement materials market over the forecasted period. Belt piles of radial tires are made up of steel tire cord fabric .The fastest growing market is expected over the forecasted period is expected to be PEN tire cord fabric and Advanced Polyester Tire cord fabric.PEN material is the next generation tire enforcement material. Using of PEN reduces noise of tire, weight and resistance(rolling).It is very cost effective in comparison to other materials used for making tires.

Polyster is another very cost effective raw material with high heat resistant. On the basis of area tire reinforcement materials market can be segregated into North America, Asia Pacific, Europe and Middle East, Latin America. Asia Pacific is expected to be the powerhouse of tire reinforcement materials market over the forecasted period owing to China and India emerging as new powerhouse over the forecasted period. These countries will have cheaper production rate as comparison to other traditional markets will help them in being the power house of tire reinforcement materials market. Central America and Latin America are expected to be more promising over the forecasted period.

The major competitors in this category are Hyosung Corporation, CORDENKA GmbH, Century Enka Limited, Bekaert, Kordarna a.s, Formosa Taffeta Co. Ltd, Teijin Fibers Limited, Kordsa Inc CORDENKA, Bridgestone Corporation, Michelin, Continental AG, The Goodyear Tire and Rubber Company, Pirelli & C.S.p.A, Kumho Tire U.



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