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The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Key Players
The following are some of the key players in the Tire Cord Fabrics Market:
Indorama Ventures Public Company Limited
Toray Industries Inc.
Kolon Industries Inc.
Hyosung Corporation
SRF Ltd.
Kordsa Teknik Tekstil A.S.
Teijin Ltd.
Cordenka GmbH & Co Kg
Century Enka Limited
Firestone Fibers & Textile Company
Growth drivers and Market Value:
This report, from Stratview Research, studies the Tire Cord Fabrics Market value and growth drivers over the trend period of 2022-27. According to the report -
Tire Cord Fabrics Market is likely to witness an impressive CAGR of 5.6% during the forecast period. The major factor contributing to the growth of the market for tire cord fabrics is the increase in demand for vehicles across the globe.
Segment Analysis:
Based on Application Type:
Based on the application type, the market is segmented as OEM and replacement. The replacement segment accounted for the larger share of the market in 2021, driven by the increasing number of vehicles on road and age of vehicles. The segment is expected to lead the market during the forecast period as well.
Based on Region:
In terms of regions, Asia-Pacific is estimated to be the fastest-growing market for tire cord fabrics during the forecast period, owing to the surge in production of cars in the developing economies, such as China, India, and Indonesia. North America and Europe are also expected to offer sizeable growth opportunities during the forecast period.
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FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for Tire Cord Fabrics Market in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
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