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Tyre Cord Fabrics market to reach $7.89 billion by 2026: report

Tyre Cord Fabrics market to reach $7.89 billion by 2026: report

The Global Tyre Cord Fabrics Market is accounted for $4.15 billion in 2017 and is expected to reach $7.89 billion by 2026 growing at a CAGR of 7.4 percent, said a study by TMR. The rise in vehicle usage and growth in the awareness for biodegradable products are some of the factors propelling market growth. However, fluctuating raw material prices is hindering the market growth, the study pointed out. Asia Pacific holds the highest market growth during the forecast period due to rising passenger vehicle production in China and India.

Tyre cord fabric is an industrial-grade fabric manufactured through the use of high persistence yarns. It plays the role of reinforcing materials in automotive and vehicle tyres and is designed and used in a way that helps sustain the shape of tyres. Tire cord fabrics impart critical performance-related qualities to the tires such as abrasion resistance, increased strength, and deformation control.

The key players in this segment include Kolon Industries Inc., Toray Industries Inc., Hyosung Corporation, Teijin Ltd. , Firestone Fibers & Textile Company, Shenma Industrial Co. Ltd., Century Enka Limited, SRF Ltd., Cordenka GmbH & Co Kg, Kordsa Teknik Tekstil A.S and Indorama Ventures Public Company Limited.

Nylon segment has witnessed considerable growth during the forecast period due to its capability to offer high strength, tenacity, robustness, relatively superior fatigue resistance, and good adhesion to rubber.

 

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