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 |
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Geography |
- APAC
- Europe
- North America
- South America
- Middle East and Africa
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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.
What will the Polyester Tire Cord Fabrics Market Size be During the Forecast Period?

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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 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
- 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 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
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Report Coverage
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Details
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Page number
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120
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Base year
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2021
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Forecast period
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2022-2026
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Growth momentum & CAGR
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Accelerate at a CAGR of 4.75%
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Market growth 2022-2026
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$ 250.29 million
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Market structure
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Fragmented
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YoY growth (%)
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3.67
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Regional analysis
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APAC, Europe, North America, South America, and Middle East and Africa
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Performing market contribution
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APAC at 66%
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Key consumer countries
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US, China, Thailand, Japan, and Germany
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Competitive landscape
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Leading companies, Competitive strategies, Consumer engagement scope
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Key companies profiled
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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
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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
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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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