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The objective of the Tire Yarn Market report is to offer updated information such as the market share, size, trends, emerging markets, earnings, forecasts, and data on leading industry players. This study includes significant and vital information necessary for strategic decision making and have a competitive edge.
In view with the current pandemic analysts at Stratview Research has thoroughly analyzed and presented the following parameters under the detailed Covid – 19 impact analysis in the Tire Yarn Market.
Market Insights – The Tire Yarn Market is projected to grow from USD 6.36 billion in 2022 to USD 8.69 billion by 2028 at a CAGR of over 5.3% during the forecast period.
Few key players operating in the Tire Yarn Market are-
Kordsa Teknik Tekstil AS
Shenma Industrial Co., Ltd.
Hyosung Corporation
Indorama Ventures PLC
Asahi Kasei Corporation
Kolon Industries Inc.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Tire Yarn Market value and growth drivers over the trend period of 2019-24. According to the report -
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.
Segment Analysis:
Based on Yarn Type:
Based on the yarn type, the tire yarn market is segmented as polyamide, polyester, and others. Polyamide yarn 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. High modulus low shrinkage (HMLS) grade is generally used polyester type and is likely to remain the second-largest yarn type in the market. Rayon and aramid are major types of yarn included in others segment, which have a specific usage in the market.
Based on Region:
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 engine for the region’s market. Europe is also likely to exhibit a sizeable demand for tire yarns during the forecast period.
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Critical Questions Answered in the Report
l What are the key trends in the global Tire Yarn Market?
l How the Tire Yarn Market (and its various sub-segments) has grown in the last five years?
l What would be the growth driver and growth rate in next five years?
l What is the impact of COVID-19 on the Tire Yarn Market?
l What are the key strategies adopted by the major vendors to lead in the Tire Yarn Market?
l What is the market share of the key players?
Target Audience
The following is a list of the customers that the Tire Yarn Market aims to convert the most:
l Manufacturing Organizations
l Distributors & Suppliers
l Potential Investors
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