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Polyester Tire Cord Fabrics Market by Application and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 128
  • SKU: IRTNTR73479
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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.

The polyester tire cord fabrics market report extensively covers market segmentation by application and geography:

Application
  • Replacement
  • OEM
Geography
  • APAC
  • Europe
  • North America
  • South America 
  • Middle East and Africa

 

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.

What will the Polyester Tire Cord Fabrics Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Polyester Tire Cord Fabrics Market Size for the Forecast Period and Other Important Statistics

 

Polyester Tire Cord Fabrics Market: Key Drivers, Trends, and Challenges

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 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

  • One of the key factors driving the global polyester tire cord fabrics market growth is the increasing production of automobiles.
  • Automobiles employ polyester tire cord fabrics to maintain tires in shape and increase durability.
  • According to the International Organization of Motor Vehicle Manufacturers (OICA), the total number of vehicles produced between January 2021 and September 2021 grew to 57.2 million units, up from 52.1 million units in the same period in 2020.
  • The increase in car production in developing countries such as China, Japan, and Thailand will further boost the demand for polyester tire cord fabrics.
  • Such factors will drive the polyester tire cord fabrics market during the forecast period.

Key Polyester Tire Cord Fabrics Market Trend

  • Growing penetration of EVs is one of the key polyester tire cord fabrics market trends that is expected to impact the industry positively in the forecast period.
  • In 2021, the global deliveries of EVs surpassed seven million units.
  • In terms of geography, China dominated the global EV sales in terms of units delivered. Europe and the US followed China in the number of EV deliveries.
  • Chinese manufacturers, such as BYD Company and BAIC, are witnessing increased demand for EVs, leading to significant growth in sales volumes.
  • In Europe, countries such as Norway, the Netherlands, Germany, Iceland, and Poland dominated the regional sales.

Key Polyester Tire Cord Fabrics Market Challenge

  • One of the key challenges to the global polyester tire cord fabrics market growth is the fluctuations of price in the automotive industry.
  • The global microchip shortage is continuing to affect the automotive supply chain, forcing new car prices to rise as inventory runs out.
  • Companies changed manufacturing to high-profit models due to the chip shortage restricting the number of automobiles they could make. For instance;
    • In India, most automobile companies increased prices by 3% to 4% across the board in January 2021.
  • Small cars, SUVs, sedans, and two-wheelers are expected to become more expensive as automakers raise pricing to partially offset rising material costs during the forecast period.
  • Such factors can hinder the growth of the market in the forecast years.

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.

Who are the Major Polyester Tire Cord Fabrics Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • 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.
  • BIKAWA Enterprise Sdn Bhd

 

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.

Product Insights and News

  • Firestone Fibers and Textiles Company LLC - The company offers polyester tire cord fabric which has the characteristics of controlled deformation, high strength, and abrasion resistance widely used by the tire industry, thus used in rubber hose manufacturing, air springs, expansion joints, and many other applications.
  • Firestone Fibers and Textiles Company LLC - The unified segment of the company offers a wide range of roofing and lining products such as EPDM, Thermoplastic polyolefin, Polyiso, and many more.

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.

Which are the Key Regions for Polyester Tire Cord Fabrics Market?

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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.

What are the Revenue-generating Application Segments in the Polyester Tire Cord Fabrics Market?

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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.

Parent Market Analysis

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.

Polyester Tire Cord Fabrics Market Value Chain Analysis

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.

Polyester Tire Cord Fabrics Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.75%

Market growth 2022-2026

$ 250.29 million

Market structure

Fragmented

YoY growth (%)

3.67

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 66%

Key consumer countries

US, China, Thailand, Japan, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

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

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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What are the Key Data Covered in this Polyester Tire Cord Fabrics Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive polyester tire cord fabrics market growth during the next five years
  • Precise estimation of the polyester tire cord fabrics market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the polyester tire cord fabrics industry across APAC, Europe, North America, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of polyester tire cord fabrics market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 Replacement - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Replacement - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Replacement - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Replacement - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Replacement - Year-over-year growth 2021-2026 (%)
    • 5.4 OEM - Market size and forecast 2021-2026
      • Exhibit 32: Chart on OEM - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on OEM - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on OEM - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on OEM - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Application
      • Exhibit 36: Market opportunity by Application ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 62: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 US - Market size and forecast 2021-2026
      • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.10 Thailand - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Thailand - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Thailand - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Thailand - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Thailand - Year-over-year growth 2021-2026 (%)
    • 7.11 Japan - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.12 Germany - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 COLMANT COATED FABRICS
              • Exhibit 89: COLMANT COATED FABRICS - Overview
              • Exhibit 90: COLMANT COATED FABRICS - Product / Service
              • Exhibit 91: COLMANT COATED FABRICS - Key offerings
            • 10.4 Hyosung Advanced Materials
              • Exhibit 92: Hyosung Advanced Materials - Overview
              • Exhibit 93: Hyosung Advanced Materials - Product / Service
              • Exhibit 94: Hyosung Advanced Materials - Key offerings
            • 10.5 Indorama Ventures Public Co. Ltd.
              • Exhibit 95: Indorama Ventures Public Co. Ltd. - Overview
              • Exhibit 96: Indorama Ventures Public Co. Ltd. - Business segments
              • Exhibit 97: Indorama Ventures Public Co. Ltd. - Key offerings
              • Exhibit 98: Indorama Ventures Public Co. Ltd. - Segment focus
            • 10.6 Kolon Industries Inc.
              • Exhibit 99: Kolon Industries Inc. - Overview
              • Exhibit 100: Kolon Industries Inc. - Product / Service
              • Exhibit 101: Kolon Industries Inc. - Key offerings
            • 10.7 Kordsa Teknik Tekstil AS
              • Exhibit 102: Kordsa Teknik Tekstil AS - Overview
              • Exhibit 103: Kordsa Teknik Tekstil AS - Business segments
              • Exhibit 104: Kordsa Teknik Tekstil AS - Key news
              • Exhibit 105: Kordsa Teknik Tekstil AS - Key offerings
              • Exhibit 106: Kordsa Teknik Tekstil AS - Segment focus
            • 10.8 Shenma Industrial Co Ltd.
              • Exhibit 107: Shenma Industrial Co Ltd. - Overview
              • Exhibit 108: Shenma Industrial Co Ltd. - Product / Service
              • Exhibit 109: Shenma Industrial Co Ltd. - Key offerings
            • 10.9 SRF Ltd.
              • Exhibit 110: SRF Ltd. - Overview
              • Exhibit 111: SRF Ltd. - Business segments
              • Exhibit 112: SRF Ltd. - Key offerings
              • Exhibit 113: SRF Ltd. - Segment focus
            • 10.10 Teijin Ltd.
              • Exhibit 114: Teijin Ltd. - Overview
              • Exhibit 115: Teijin Ltd. - Business segments
              • Exhibit 116: Teijin Ltd. - Key offerings
              • Exhibit 117: Teijin Ltd. - Segment focus
            • 10.11 Toray Industries Inc.
              • Exhibit 118: Toray Industries Inc. - Overview
              • Exhibit 119: Toray Industries Inc. - Business segments
              • Exhibit 120: Toray Industries Inc. - Key news
              • Exhibit 121: Toray Industries Inc. - Key offerings
              • Exhibit 122: Toray Industries Inc. - Segment focus
            • 10.12 Zhejiang Hilead New Materials Co.Ltd.
              • Exhibit 123: Zhejiang Hilead New Materials Co.Ltd. - Overview
              • Exhibit 124: Zhejiang Hilead New Materials Co.Ltd. - Product / Service
              • Exhibit 125: Zhejiang Hilead New Materials Co.Ltd. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 126: Inclusions checklist
                • Exhibit 127: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 128: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 129: Research methodology
                • Exhibit 130: Validation techniques employed for market sizing
                • Exhibit 131: Information sources
              • 11.5 List of abbreviations
                • Exhibit 132: List of abbreviations

              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.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The polyester tire cord fabrics market market growth will increase by $$ 250.29 million during 2023-2026.
              The polyester tire cord fabrics market market is expected to grow at a CAGR of 4.75% during 2023-2026.
              Technavio has segmented the polyester tire cord fabrics market market by application (Replacement and OEM) and geography (APAC, Europe, North America, South America, and Middle East and Africa).
              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., BIKAWA Enterprise Sdn Bhd are a few of the key vendors in the polyester tire cord fabrics market market.
              APAC will register the highest growth rate of 66% among the other regions. Therefore, the polyester tire cord fabrics market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the polyester tire cord fabrics market market growth are:
              • Increasing production of automobiles
              • Growing penetration of EVs
              The polyester tire cord fabrics market market vendors should focus on grabbing business opportunities from the replacement segment as it accounted for the largest market share in the base year.
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