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Global Tire Cord Market To Exceed 1.3 Million Metric Tons By 2015

4/14/2010 - According to a report by Global Industry Analysts, "Tire cord is a shaped or twisted structure made out of single or more tiered strips of inorganic material, mainly steel or using organic polymers such as polyester, rayon or nylon. The cord facilitates in reinforcing a tire's rubber matrix. The tire reinforcement material or tire cord industry is directly dependent on the tire industry, performance of which is closely intertwined with the fate of the automobile industry. With the prolonged world economic recession taking its toll on automotive demand, demand patterns worldwide have been undergoing transformation with developed markets showing signs of distress, and the developing economies displaying minimal growth. Led by the automobile boom in Asia-Pacific, particularly in China and India, the region represents the largest as well as the fastest growing market in tire cord sales as stated by the new GIA market research report on the tire cord market. Despite the dampener cast by the recession, the automotive industry in developing nations in the medium to long-term remains encouraging. The global economic recession in recent years hastened the geographic shift in the automobile industry, with the Asia-Pacific led by China and India emerging as the new powerhouse in the sector. Apart from providing a vast market, these countries are also proving cheaper production bases compared to the traditional markets in the Western Europe, the U.S. and Japan. Apart from China and India, the Latin American and Central European markets also hold much promise for the tire and tire cord industries. Stagnating growth in the Western European countries, vastly untapped market in the Central European countries and the cheaper availability of material resources as well as manpower is leading to the shifting of manufacturing bases to these countries. The replacement tire market constitutes the major part of the tire cord industry, with the truck tires replacement forming the bulk of the demand. Apart from containing more amount of tire cord due to their size, truck tires also are more frequently replaced because of regular and higher usage. Furthermore, more number of tires are deployed in trucks than in passenger vehicles. The tire cord market is comprised of independent tire cord manufacturers as well as vertically integrated tire manufacturers. Key players profiled in the report include Century Enka Limited, Cordenka GmbH, Formosa Taffeta Co. Ltd., Hyosung Corporation, Junma Tyre Cord Company Limited, Kolon Industries, Inc., Kordarna a.s., Kordsa Inc., Bekaert, SRF Limited and Teijin Fibers Limited. The report, titled, "Tire Cord: A Global Strategic Business Report," announced by Global Industry Analysts, Inc., provides an industry overview, product overview, product introductions, recent industry activity and profiles of major players. The report analyzes market data and analytics in terms of annual sales in volume terms for regions including North America, Japan, Europe, Asia-Pacific, and rest of world. The report further analyzes the global market by the segments of polyester tire cord and nylon tire cord."

Global Industry Analysts
www.strategyr.com

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