Sep 8, 2022   SOURCE: BusinessWire

Insights on the Reinforced Green Tire Cord Fabric Global Market to 2027 - Featuring Indorama Ventures, SRF and Century Enka Among Others - ResearchAndMarkets.com

The "Reinforced Green Tire Cord Fabric Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Material Type, By Application, By Distribution Channel, By Region" report has been added to ResearchAndMarkets.com's offering.

The global reinforced green tire cord fabric market was valued at USD125 Million in 2021 and is projected to register growth at a double-digit CAGR of 12% during the forecast period, 2023-2027.

Companies Mentioned

  • Kordsa Teknik Tekstil AS
  • Indorama Ventures Ltd
  • SRF Ltd
  • Century Enka Ltd
  • Hyosung Industries Co. Limited
  • Hengli Group
  • Shinkong Synthetic Fibers Corporation
  • Kolon Industries Inc.
  • Toray Industries Inc
  • Teijin Ltd

The market growth can be attributed to rising demand for passenger cars and an upsurge in demand for green products. Besides, growing concerns about depleting environment and stringent measures taken by the governments and authorities to ensure low energy consumption, improve the production of green energy, and reduce growing toxins in the environment are also expected to aid the growth of the global reinforced green ire cord fabric market in the next five years.

Fabric reinforcement is employed in tire cords to keep tires in the proper shape. They are typically made of rayon, polyester, nylon, and aramid. These components give tires more stiffness, improving vehicle handling and stability. Reinforced green tire cord fabrics are created using recycled PET, nylon 66, aramid, and other materials. Utilizing such materials helps promote the idea of a green world by reducing the consumption of plastics and other polymers that could harm the environment. Recycled items also help reduce pollution.

Surging demand for passenger cars and commercial vehicles owing to increasing urban mobility and rising personal disposable income in the developing economies are positively influencing the growth of the global reinforced green tire cord fabric market. In addition to sales of new cars, the demand for refurbished vehicles is also increasing, which is creating more demand for reinforced green tire cord fabric.

The global reinforced green tire cord fabric market is segmented on the basis of material type, application, distribution channel, regional distribution, and competitive landscape. Based on material type, the market is further segmented into recycle PET, recycle nylon 66, recycle aramid, and others. Recycle nylon 66 is expected to register the highest growth in the global reinforced green tire cord fabric market, owing to its properties such as superior fatigue resistance, high tenacity, and improved adhesion.

Years considered for this report:

  • Historical Years: 2017-2020
  • Base Year: 2021
  • Estimated Year: 2022
  • Forecast Period: 2023-2027

Objective of the Study:

  • To analyze the historical growth in the market size of the global reinforced green tire cord fabric from 2017 to 2021.
  • To estimate and forecast the market size of global reinforced green tire cord fabric market from 2023 to 2027 and growth rate until 2027.
  • To classify and forecast the global reinforced green tire cord fabric market based on material type, application, distribution channel, region, and company.
  • To identify the dominant region or segment in the global reinforced green tire cord fabric market.
  • To identify drivers and challenges for the global reinforced green tire cord fabric market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global reinforced green tire cord fabric market.
  • To identify and analyze the profiles of leading players operating in the global reinforced green tire cord fabric market.
  • To identify key sustainable strategies adopted by market players in global reinforced green tire cord fabric market.

Report Scope:

In this report, global reinforced green tire cord fabric market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Reinforced Green Tire Cord Fabric Market, By Material Type:

  • Recycle PET
  • Recycle Nylon 66
  • Recycle Aramid
  • Others

Reinforced Green Tire Cord Fabric Market, By Application:

  • Passenger Car
  • Light Commercial Vehicle
  • Medium & Heavy Commercial Vehicle
  • Two Wheeler
  • Three Wheeler
  • Others

Reinforced Green Tire Cord Fabric Market, By Distribution Channel:

  • Direct
  • Indirect

Reinforced Green Tire Cord Fabric Market, By Region:

  • North America
  • United States
  • Mexico
  • Canada
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Indonesia
  • Vietnam
  • Europe & CIS
  • France
  • Germany
  • United Kingdom
  • Italy
  • Russia
  • South America
  • Brazil
  • Argentina
  • Colombia
  • Chile
  • Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Turkey

For more information about this report visit https://www.researchandmarkets.com/r/h6ejmu