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The polyester tire cord fabrics market share is expected to increase to USD 250.29 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.75%. This research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.
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The polyester tire cord fabrics market vendors studied and compiled in this report include COLMANT COATED FABRICS, Firestone Fibers and Textiles Company LLC, Formosa Taffeta Co. Ltd., HANOI INDUSTRIAL TEXTILE JSC, Hyosung Advanced Materials, Indorama Ventures Public Co. Ltd., Junma Tyre Cord Co. Ltd., Kian Cord Co., Kolon Industries Inc., Kordsa Teknik Tekstil AS, Madura Industrial Textiles Ltd., Oriental Industries (Suzhou) Ltd., Shenma Industrial Co.Ltd. , Sohrab Group, SRF Ltd., Star Polymers Inc., Teijin Ltd., Toray Industries Inc., Zhejiang Hilead New Materials Co.Ltd., and BIKAWA Enterprise Sdn Bhd among others.
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The increasing production of automobiles is notably driving the polyester tire cord fabrics market growth, although factors such as fluctuations of price in the automotive industry may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the polyester tire cord fabrics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Polyester Tire Cord Fabrics Market Driver
Key Polyester Tire Cord Fabrics Market Trend
Key Polyester Tire Cord Fabrics Market Challenge
This polyester tire cord fabrics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the polyester tire cord fabrics market encompasses successful business strategies deployed by the key vendors. The polyester tire cord fabrics market is fragmented and the vendors are deploying growth strategies such as investment in research and development to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The polyester tire cord fabrics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
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66% of the market's growth will originate from APAC during the forecast period. China, Thailand, Japan, and India are the key markets for polyester tire cord fabrics in APAC. Market growth in this region will be faster than the growth of the market in North America, South America, and Europe.
The significant increase in car production in developing countries such as China, and the presence of major automotive giants such as Honda, Toyota, Hyundai, and Nissan will facilitate the polyester tire cord fabrics market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic led to a temporary shutdown of the automotive industry in several APAC countries, which led to a decline in the production of tires and related products, including polyester tire cord fabrics. However, in 2021, the automotive industry in APAC started to recover, with a decline in the number of COVID-19 cases and the lifting of lockdown restrictions due to the initiation of vaccination drives for COVID-19. Thus, the recovery of the automotive industry in APAC will drive the growth of the regional polyester tire cord fabrics market during the forecast period.
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The polyester tire cord fabrics market share growth by the replacement segment will be significant during the forecast period. The growth of the replacement segment is attributed to the growing number of vehicles on the road and their increasing age. Replacement tires are preferred by consumers all over the world since they are less expensive than their original counterparts.
This report provides an accurate prediction of the contribution of all the segments to the growth of the polyester tire cord fabrics market size and actionable market insights on post COVID-19 impact on each segment.
Technavio categorizes the global polyester tire cord fabrics market as a part of the global tires and rubber market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the polyester tire cord fabrics market during the forecast period.
Our report provides extensive information on the value chain analysis for the polyester tire cord fabrics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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Polyester Tire Cord Fabrics Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.75% |
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Market growth 2022-2026 |
$ 250.29 million |
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Market structure |
Fragmented |
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YoY growth (%) |
3.67 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 66% |
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Key consumer countries |
US, China, Thailand, Japan, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
COLMANT COATED FABRICS, Firestone Fibers and Textiles Company LLC, Formosa Taffeta Co. Ltd., HANOI INDUSTRIAL TEXTILE JSC, Hyosung Advanced Materials, Indorama Ventures Public Co. Ltd., Junma Tyre Cord Co. Ltd., Kian Cord Co. , Kolon Industries Inc., Kordsa Teknik Tekstil AS, Madura Industrial Textiles Ltd., Oriental Industries (Suzhou) Ltd. , Shenma Industrial Co.Ltd. , Sohrab Group, SRF Ltd., Star Polymers Inc., Teijin Ltd., Toray Industries Inc., Zhejiang Hilead New Materials Co.Ltd., and BIKAWA Enterprise Sdn Bhd |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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