Reinforcement Material Of Tire Market was valued at USD 22.4 Billion in 2022 and is projected to reach USD 30.1 Billion by 2030, growing at a CAGR of 4.3% from 2024 to 2030.
The global reinforcement material of tire market was valued at approximately USD 40.5 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 4.2% from 2023 to 2028. This growth is driven by increasing automotive production, rising vehicle ownership, and the demand for high-performance tires that enhance safety and durability. Key segments within the market include steel belts, polyester, nylon, and aramid, each contributing to the overall market expansion as they offer distinct advantages in terms of strength, flexibility, and heat resistance. The automotive industry's shift towards sustainable and high-efficiency materials further boosts the market potential, with an emphasis on innovation and technology integration.
Emerging markets, particularly in Asia-Pacific regions such as China and India, are anticipated to present substantial opportunities due to rapid industrialization and increasing consumer spending on vehicles. Additionally, the growth of electric vehicles (EVs) and advancements in tire technology are expected to catalyze further market development. The adoption of advanced reinforcement materials that improve tire performance and longevity aligns with evolving consumer preferences and regulatory standards, creating a robust environment for market growth. Strategic investments in research and development, coupled with rising automotive production in emerging economies, are likely to drive significant progress in the reinforcement material of tire market.
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TOKYO ROPE
Goodyear
Dunlop
Bridgestone
Bekaert
Hyosung
Kolon Industries
Kordsa Global
Toray Industries
SRF
Milliken and Company
CORDENKA
Tokusen Kogyo
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Reinforcement Material Of Tire Market
Diagonal Tyre
Radial Tyre
Others
Based on Types the Market is categorized into Below types that held the largest Reinforcement Material Of Tire market share In 2023.
Bead Wire
Steel Cord
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Reinforcement Material Of Tire Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Reinforcement Material Of Tire Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Reinforcement Material Of Tire Market, By Type
6. Global Reinforcement Material Of Tire Market, By Application
7. Global Reinforcement Material Of Tire Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Reinforcement Material Of Tire Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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