Polyester Tyre Cord Fabric Market - Global Market Insights and Sales Trends 2024 to 2031
The "Polyester Tyre Cord Fabric Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The Polyester Tyre Cord Fabric market is expected to grow annually by 6.5% (CAGR 2024 - 2031).
This entire report is of 110 pages.
Polyester Tyre Cord Fabric Introduction and its Market Analysis
The Polyester Tyre Cord Fabric market research report provides insights into the market conditions and trends of the industry. Polyester Tyre Cord Fabric is a strong synthetic material used in the manufacturing of tires for vehicles. The target market for Polyester Tyre Cord Fabric includes tire manufacturers and automotive industries. Major factors driving revenue growth in the market include increasing demand for automobiles globally, technological advancements in tire manufacturing, and growing investments in the automotive sector. Key players in the Polyester Tyre Cord Fabric market include Formosa Taffeta, Hyosung, SRF, Performance Fibers, Shinkong Synthetic Fibers, Sinopec Shanghai Petrochemical, KORDARNAPlus, KOLON Industries, Toray Industries, and Zhejiang Hailide New Material. The main findings of the report highlight the market potential for Polyester Tyre Cord Fabric and recommend strategic investments in research and development to stay competitive in the market.
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Polyester Tyre Cord Fabric market is witnessing significant growth with various types such as 1000/2 Denier, 1000/3 Denier, 1500/2 Denier, and 2000/2/1 Denier gaining traction in the industry. These fabrics are widely used in applications for passenger cars, commercial cars, and other vehicles. The market segmentation for these fabrics is based on their denier count and intended application.
Regulatory and legal factors specific to the Polyester Tyre Cord Fabric market play a crucial role in defining market conditions. These factors include compliance with safety standards, environmental regulations, and trade policies. As the demand for polyester tyre cord fabric increases, manufacturers are focusing on meeting these regulatory requirements to ensure product quality and safety. Adhering to these regulations can help companies gain a competitive edge and build trust among consumers in the market.
Top Featured Companies Dominating the Global Polyester Tyre Cord Fabric Market
The global Polyester Tyre Cord Fabric market is highly competitive with several key players dominating the industry. Some of the major players in the market include Formosa Taffeta, Hyosung, SRF, Performance Fibers, Shinkong Synthetic Fibers, Sinopec Shanghai Petrochemical, KORDARNAPlus, KOLON Industries, Toray Industries, and Zhejiang Hailide New Material. These companies are actively involved in the production and distribution of Polyester Tyre Cord Fabric for various applications in the automotive industry.
Companies like Hyosung, SRF, and Toray Industries are leading manufacturers of Polyester Tyre Cord Fabric and have a strong presence in the market. They provide high-quality products that meet the stringent requirements of the automotive industry. These companies invest heavily in research and development to innovate and introduce new products to meet the changing demands of the market.
Formosa Taffeta, Shinkong Synthetic Fibers, and Zhejiang Hailide New Material are also key players in the Polyester Tyre Cord Fabric market. They offer a wide range of products for various applications and cater to the needs of different customers in the automotive industry.
The growth of the Polyester Tyre Cord Fabric market is driven by the increasing demand for high-performance and durable materials in the automotive industry. These companies play a crucial role in meeting this demand and help in driving the growth of the Polyester Tyre Cord Fabric market.
In terms of sales revenue, Hyosung reported a revenue of approximately $6 billion in 2020, while Toray Industries reported a revenue of around $19 billion in the same year. These figures indicate the significant market size and potential of the Polyester Tyre Cord Fabric market for these companies and highlight their strong position in the industry.
- Formosa Taffeta
- Hyosung
- SRF
- Performance Fibers
- Shinkong Synthetic Fibers
- Sinopec Shanghai Petrochemical
- KORDARNAPlus
- KOLON Industries
- Toray Industries
- Zhejiang Hailide New Material
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Polyester Tyre Cord Fabric Market Analysis, by Type:
- 1000/2 Denier
- 1000/3 Denier
- 1500/2 Denier
- 2000/2/1 Denier
Polyester tyre cord fabric comes in various types such as 1000/2 Denier, 1000/3 Denier, 1500/2 Denier, and 2000/2/1 Denier. These different types offer varying levels of strength and durability, making them suitable for different types of tires. The versatility of these fabrics allows manufacturers to cater to a wide range of tire sizes and specifications, boosting the demand for polyester tyre cord fabric in the market. Additionally, the superior performance and cost-effectiveness of these fabrics make them a popular choice among tire manufacturers, further fueling the growth of the polyester tyre cord fabric market.
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Polyester Tyre Cord Fabric Market Analysis, by Application:
- Cassenger Cars
- Commercial Cars
Polyester tyre cord fabric is widely used in passenger cars and commercial cars for its high tensile strength, abrasion resistance, and durability. In passenger cars, it is used in the production of tires to provide a stable and safe driving experience. In commercial cars, it is used to ensure the longevity and performance of the tires in heavy-duty applications. The fastest growing application segment in terms of revenue is the commercial car sector, as the demand for durable and reliable tires for transportation and logistics purposes continues to rise.
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Polyester Tyre Cord Fabric Industry Growth Analysis, by Geography:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
The Polyester Tyre Cord Fabric market is expected to witness significant growth in various regions. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa are expected to dominate the market in the coming years. North America, particularly the United States and Canada, is anticipated to hold a major share of the market due to the increasing demand for automobile tires. Europe, led by Germany, France, and the ., is also expected to witness substantial growth. Asia-Pacific, with countries like China, Japan, and India, is expected to show significant growth potential. Latin America and Middle East & Africa, including countries like Mexico, Brazil, Saudi Arabia, and UAE, are also projected to contribute to the market growth.
In terms of market share percentage valuation, North America and Asia-Pacific are expected to hold a significant portion of the market share due to the presence of key players and increasing automotive production. Europe is also expected to have a considerable market share, followed by Latin America and Middle East & Africa. The expected market share of the Polyester Tyre Cord Fabric market in different regions is estimated to be North America (30%), Europe (25%), Asia-Pacific (35%), Latin America (5%), and Middle East & Africa (5%).
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