Tire Yarn Market to Reach US$ 4.0 Billion in 2024, Says Stratview Research

DETROIT, Feb. 26, 2019 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Tire Yarn Market by End-Use Industry Type (Automotive, Specialty Vehicles, Aircraft, and Others), by Yarn Type (Polyamide, Polyester, and Others), by Application Type (Cord Ply, Cap Ply, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

This comprehensive 230-page report, from Stratview Research, presents the most complete and thorough market analysis on the tire yarn market for the forecast period of 2019 to 2014 with a high emphasis on accurate market data, insights and competitive landscapes. The report rigorously studies all major tire yarn, tire fabric, as well as tire manufacturers in order to provide the accurate assessment of the yarn market at the global and regional levels.

Tire Yarn Market: Highlights from the Report

As per Stratview Research, the global tire yarn market is projected to offer healthy growth opportunities in the entire ecosystem of the market and is likely to reach an estimated value of US$ 3,989.6 million in 2024. Organic growth of automotive, aircraft and specialty vehicles coupled with rising vehicles' fleet size is the prime factor driving the demand for raw materials including tire yarns. The impressive growth of tire yarn is further contributed by a host of factors including increasing demand for tires with larger rim size, increasing demand for weight reduction with the use of high-tech yarns and single-ply construction, and trend of using low rolling resistance tires.

Based on the yarn type, the market is segmented as polyamide, polyester, and others. Polyamide mainly includes PA6 and PA66 yarn and is expected to remain the most-used yarn for tire construction over the next five years, whereas polyester yarn is likely to witness the highest growth during the same period. Polyamide yarns are widely used in all the major applications of the tire, such as cord ply, cap ply, and bead reinforcement (sidewalls and chaffer), owing to their advantages including optimum reinforcing material, high tenacity, high toughness, superior fatigue resistance, water resistance, and good adhesion to rubber.

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In terms of end-user industry, automotive is expected to remain the growth engine of the tire yarn market during the forecast period. Increase in production and fleet size of vehicles is driving the demand for tire yarns in the industry. In specialty vehicles, such as agriculture and mining vehicles, tires are bigger compared to those used in automobile or motorcycle and hence, consume more amount of yarns per tire. Additionally, the quality and type of yarn and its geometry also differ strongly in different industries.

Based on the application type, cord ply is expected to remain the most dominant application of the market and is also likely to exhibit the highest growth in the near future. Cord ply is one of the major application areas of tire for all industries, such as automotive, specialty vehicles, aircraft, motorcycle, and bicycle.

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In terms of region, Asia-Pacific is projected to remain the largest tire yarn market during the forecast period in terms of both value and volume. The region is also likely to exhibit the highest growth over the next five years driven by China and India, the growth engines for the region's market. Europe is also likely to exhibit a sizeable demand for tire yarns in the forecast period.

Key tire yarn manufacturers are Kordsa Teknik Tekstil AS, Shenma Industrial Co., Ltd., Hyosung Corporation, Indorama Ventures PLC, Asahi Kasei Corporation, and Kolon Industries Inc. Major tier yarn suppliers have been ramping up their production capacities in order to tap the growing market potential. For instance, in Nov. 2018, Hyosung Corporation announced its plans to invest US$ 152 million for setting-up a manufacturing facility of polyester and nylon tire cord in Quang Nam Province, Vietnam. Also, in 2018, Kordsa Teknik Tekstil AS announced its plan to setup a new production line of polyester yarn with a capacity of 7,000 tons at its factory located at Izmit, Turkey.

Development of high-performance tire yarns and formation of strategic alliances with tire manufacturers or tire cord fabric manufacturers are the key strategies adopted by the major players to gain a competitive edge in the market.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

·  Market structure: Overview, industry life cycle analysis, supply chain analysis.

· Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.

· Market trend and forecast analysis.

· Market segment trend and forecast.

· Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.

· Attractive market segments and associated growth opportunities.

· Emerging trends.

· Strategic growth opportunities for the existing and new players.

· Key success factors.

This report studies the global tire yarn market and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:

Tire Yarn Market, By End-Use Industry Type

• Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Specialty Vehicles (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Tire Yarn Market, By Yarn Type

• Polyamide (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Polyester (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Tire Yarn Market, By Application Type

• Cord Ply (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Cap Ply (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Tire Yarn Market, By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Italy, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

Stratview Research has several high value market reports in the composites and advanced materials industry. Please refer to the following link to browse through our reports:

Click Here for Other Reports from Stratview Research in the Advanced Materials Industry

Related premium market reports in the advanced materials industry are:

Automotive Airbag Yarn Market by Vehicle Type (Compact Car, Midsize Car, Large Car, MPV and LCV, SUV, and Others), by Airbag Type (Driver Airbag, Passenger Airbag, Side Airbag, Knee Airbag, and Curtain Airbag), by Yarn Type (Polyamide and Polyester), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

Automotive Airbag Fabric Market by Vehicle Type (Compact Car, Mid-size Car, Large Car, MPV & LCV, SUV, and Others), by Application Type (Front Airbag, Side Airbag, Knee Airbag, Curtain Airbag and Other Airbags), by Yarn Type (Polyamide and Polyester), by Coating Type (Neoprene Coated, Silicone Coated, and Non-Coated), by Product Type (Flat Airbag Fabric and OPW Airbag Fabric), and by Region (North America, Europe, Asia-Pacific and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019 – 2024

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