Tire Reinforcement Materials Market by Material, Tire Type, Type, Application

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List of Tables

[195 Pages Report] The Tire Reinforcement Materials Market size was estimated at USD 14.17 billion in 2023 and expected to reach USD 14.88 billion in 2024, at a CAGR 5.23% to reach USD 20.26 billion by 2030.

Tire reinforcement materials, including beads and fabric cords, are increasingly adopted to offer high durability, tensile strength, stiffness, adhesion to rubber, and compression modulus. These materials are used depending on their construction, cost, chemical composition, and the number of plies in tires. Growth in the automotive industry, owing to the surge in sales of passenger and commercial vehicles, is increasing the adoption of tire reinforcement materials for manufacturing carcasses, belts, and bead wires. Moreover, the rise in the use of rayon and steel in the belts of cars by automobile manufacturers further benefits the market growth. However, volatile raw materials prices, such as rubber for tire manufacturing, impede the adoption of tire reinforcement materials. The emergence of super high tensile bead wires and stringent regulations provided by governing agencies across countries on the fuel economy of vehicles is expected to expand the growth of the tire reinforcement materials market.

KEY MARKET STATISTICS
Base Year [2023]	USD 14.17 billion
Estimated Year [2024]	USD 14.88 billion
Forecast Year [2030]	USD 20.26 billion
CAGR (%)	5.23%

Material: High preference for aramid for its reinforcing lightweight, fuel-efficient tire

Aramid is a high-performance synthetic fiber known for its exceptional strength-to-weight ratio, making it a popular choice for reinforcing lightweight, fuel-efficient tires. Its resistance to abrasion and heat makes it ideal for high-speed applications such as racing and high-performance vehicles. Nylon is another widely used polymer in tire reinforcements due to its excellent tensile strength and fatigue resistance at a relatively low cost. Polyester is preferred for passenger car radial (PCR) tires due to its affordability, superior fatigue resistance compared to nylon, and good cut growth resistance properties ideal for everyday driving conditions. Rayon offers excellent adhesion to rubber compounds, making it a desirable reinforcement material in high-performance tires requiring precise handling and superior traction. Steel is the dominant material for reinforcing heavy-duty truck tires due to its exceptional strength, durability, and resistance to abrasion, puncture, and impact. Steel cord reinforced tires provide excellent load-carrying capacity and heat dissipation properties critical for commercial vehicles operating under demanding conditions.

Tire Type: Adoption of radial tires due to its lower rolling resistance, increased fuel efficiency, longer wear life properties

Bias tires, also known as cross-ply tires, are constructed with layers of plies or cords arranged at an angle of approximately 30-45 degrees to the tire's direction of travel. This design provides a strong, durable tire structure that can handle heavier loads and harsher driving conditions than radial tires. Radial tires have plies or cords arranged perpendicular to the direction of the tire of travel, with additional reinforcing belts made of steel or other materials placed underneath the tread. This construction results in better road contact and lateral stability than bias tires. Furthermore, radial tires exhibit lower rolling resistance, increased fuel efficiency, longer wear life, and superior ride comfort.

Type: Growing need for tire cord fabric as a essential reinforcement material used in manufacturing tires

Tire bead wire is crucial in reinforcing tires, providing essential rigidity and strength to the tire structure. The bead wire ensures that the tire remains securely attached to the rim and maintains its shape. The bead wires are used for their compatibility with various tire sizes and types and for ease of installation and recycling options. Tire cord fabric is another essential reinforcement material used in manufacturing tires. It provides structural strength to the carcass while contributing to increased load-carrying capacity and improved durability under various road conditions. The tire cord fabric is used for specific performance requirements, weight reduction concerns, or environmental considerations such as recyclability or use of sustainable materials.

Application: Increasing use of nylon due to its excellent heat-resistant properties and ability to withstand high-speed operations

Belt plies are layers of fabric or steel placed between the tread and carcass in radial tires. They help improve tire stability, resist punctures, and prevent damage caused by impacts or irregular wear. For passenger cars and light trucks, manufacturers often use polyester or rayon fibers due to their high tensile strength and flexibility. Cap plies are used as an additional layer over the belt plies in high-performance tires to enhance high-speed stability and heat resistance while reducing rolling resistance. Nylon is commonly used as a cap ply material because it has excellent heat-resistant properties and can withstand high-speed operations. Carcasses refer to the tire's body plies, which consist primarily of fabric or steel reinforcements embedded in the rubber matrix. They provide structural support to the tire and help maintain its shape under varying loads and operating conditions. Polyester, rayon, nylon, and steel are common carcass reinforcement materials used by manufacturers.

Regional Insights

The tire reinforcement materials market is evolving in the Americas due to the rising adoption of passenger and commercial vehicles and the growing demand for high-quality and durable tires in the region. The rising automotive production in the APAC and EMEA region is accelerating the use of tire reinforcement materials to produce high-strength tires. According to European Automobile Manufacturers Association, in 2021, 79.1 million motor vehicles were produced globally, an increase of 1.3% compared to 2020. The existence of tire reinforcement materials in China, Japan, India, and the U.S. creates significant potential for tire manufacturers to expand their manufacturing operations in these regions. Additionally, the new product launch decreased borrowing rates, and sustained momentum in the personal mobility area are expected to create lucrative opportunities for the growth of the tire reinforcement material market worldwide.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Tire Reinforcement Materials Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Tire Reinforcement Materials Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Tire Reinforcement Materials Market, highlighting leading vendors and their innovative profiles. These include Aarti Steels Ltd., Bansal Wire Industries Ltd., Bridgestone Corporation, Century Enka Ltd., Coats Group PLC, Colmant Coated Fabrics, Cordenka GmbH & Co. KG, DuPont de Nemours, Inc, Formosa Taffeta Co., Ltd., Hanoi Industrial Textile JSC, Henan Hengxing Science & Technology Co., Ltd., Hyosung Advanced Materials, Indorama Ventures Public Company Limited, Jiangsu Taiji Industry New Materials Co., Ltd., Kolon Industries, Inc., Kordsa Technical Textile Co. Inc., Milliken & Company, NV Bekaert SA, Passaic Rubber Company, Rajratan Global Wire Limited, Saarstahl AG, Shakti Cords Pvt. Ltd., Shanghai Metal Corporation, SRF Limited, Suzhou kingdom textile technology Co., Ltd., Teijin Limited, TOKYO ROPE MFG. CO., LTD., Toray Industries, Inc., Toyobo Co., Ltd., and Zhejiang Hailide New Material Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Tire Reinforcement Materials Market to forecast the revenues and analyze trends in each of the following sub-markets:

Material
- Aramid
- Nylon
- Polyester
- Rayon
- Steel

Tire Type
- Bias
- Radial

Type
- Tire Bead Wire
- Tire Cord Fabric

Application
- Belt Ply
- Cap Ply
- Carcasses

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Colorado
    - Florida
    - Georgia
    - Illinois
    - Michigan
    - Minnesota
    - New York
    - Ohio
    - Pennsylvania
    - Texas
    - Washington
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Tire Reinforcement Materials Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Tire Reinforcement Materials Market?

3. What are the technology trends and regulatory frameworks in the Tire Reinforcement Materials Market?

4. What is the market share of the leading vendors in the Tire Reinforcement Materials Market?

5. Which modes and strategic moves are suitable for entering the Tire Reinforcement Materials Market?

Product Code: MRR-742BD51844F5

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing production & sales of automotive vehicles
  - 5.1.1.2. Escalating demand for run-flat and ultra-high-speed tires
- 5.1.2. Restraints
  - 5.1.2.1. Fluctuating prices of tire reinforcement materials
- 5.1.3. Opportunities
  - 5.1.3.1. Government regulations to expand the usage of fuel-efficient tires
  - 5.1.3.2. Expanding research & development activities to introduce high-performance and improved-strength tires
- 5.1.4. Challenges
  - 5.1.4.1. Environmental concerns associated with the production of tires
5.2. Market Segmentation Analysis
- 5.2.1. Material: High preference for aramid for its reinforcing lightweight, fuel-efficient tire
- 5.2.2. Tire Type: Adoption of radial tires due to its lower rolling resistance, increased fuel efficiency, longer wear life properties
- 5.2.3. Type: Growing need for tire cord fabric as a essential reinforcement material used in manufacturing tires
- 5.2.4. Application: Increasing use of nylon due to its excellent heat-resistant properties and ability to withstand high-speed operations
5.3. Market Trend Analysis
- 5.3.1. Rising focus on sustainable development goals and expansion of tire manufacturing facilities in the Americas
- 5.3.2. Surging automobile demand and prospective tire manufacturing capacity enhance market scope in the APAC region.
- 5.3.3. Expanding manufacturing of automotive tires with the presence of regulations & guidelines in EMEA
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis

6. Tire Reinforcement Materials Market, by Material

6.1. Introduction
6.2. Aramid
6.3. Nylon
6.4. Polyester
6.5. Rayon
6.6. Steel

7. Tire Reinforcement Materials Market, by Tire Type

7.1. Introduction
7.2. Bias
7.3. Radial

8. Tire Reinforcement Materials Market, by Type

8.1. Introduction
8.2. Tire Bead Wire
8.3. Tire Cord Fabric

9. Tire Reinforcement Materials Market, by Application

9.1. Introduction
9.2. Belt Ply
9.3. Cap Ply
9.4. Carcasses

10. Americas Tire Reinforcement Materials Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Tire Reinforcement Materials Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Tire Reinforcement Materials Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. JK Tyre partnered with International Finance Corporation to expand tire manufacturing operations
- 13.3.2. Cabot Corporation Launched Evolve Sustainable Solutions Technology Platform Focused On Advancing Sustainable Reinforcing Carbons
- 13.3.3. Cabot Corporation Launched New Engineered Elastomer Composite (E2C) Product to Expand Capabilities in On-road Commercial Tire and Industrial Rubber Applications
- 13.3.4. Goodyear Unveils 90% Sustainable-Material Demonstration Tire, Approved For Road Use
- 13.3.5. JK Tyre Launches Six Steel Wheel Brand Outlets, Two Ranger Tyres
- 13.3.6. Century Enka began commercial production of sustainable nylon tire cord fabric
- 13.3.7. Rajratan Global Wire received PLI nod for Speciality Steel
- 13.3.8. Toray to Domestically Sell Chemical Recycled Fiber Products Derived from Fishing Nets
- 13.3.9. Bridgestone to expand Costa Rica tire plant
- 13.3.10. Bridgestone Receives Grant To Expand Natural Rubber Production in USA
- 13.3.11. Teijin Frontier launched a facility for producing functional polyester filaments
- 13.3.12. Teijin Frontier Developed World's First Tire Cord from Eco-friendly Adhesive and Recycled Polyester
- 13.3.13. Kolon Ind expanded tire cord fabric plant in Vietnam
- 13.3.14. Milliken announced a start-up PP Clarifier Plant In S Carolina
- 13.3.15. Kordsa announce USD 20 million expansion of North American facilities
- 13.3.16. Rajratan Invested INR 370 Cr (USD 46.25 million), New Chennai Plant On Cards
- 13.3.17. Kordsa Completed Majority Shares Acquisition of Microtex Composites
- 13.3.18. Bolder Industries and Liberty Tire Formalized Partnership to Advance Circularity in the U.S. Market
- 13.3.19. Bridgestone Partnered with LanzaTech to Pursue End-of-Life Tire Recycling Technologies

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio