LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global tire reinforcement materials market report. This research report also lists four other prominent vendors that are expected to impact the market during the forecast period.
Steel tire cords are the widely-used reinforcement materials in tire manufacturing. The material accounted for the largest proportion of the market share of 40% in 2015. This is attributable to their stability, safety, and higher comfort. APAC dominated the market for tire reinforcement materials in 2015. The region will sustain its market share and grow considerably over the forecast period. This is attributable to the economic growth and increasing disposable incomes, which are increasing the production and demand of vehicles.
Competitive vendor landscape
The global tire reinforcement materials market marks its presence of many global players, along with regional and local players that operate in a highly competitive market. The players have a vast geographic presence with production facilities located globally. However, there are a sizeable number of small regional vendors that hold significant shares in the market.
“The major players compete based on innovations, price, and quality of the product. Some players can capture the market due to lower costs when compared with their competitors. In addition, financial, technological, and other resources of a few players are better than that of their competitors and can withstand changes in different market conditions,” says Ajay Adikhari, a lead textiles, fibers, and composites analyst from Technavio.
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Top five tire reinforcement materials market vendors
Bekaert offers rubber reinforcement products such as tire cord, bead wire, and hose reinforcement wire. Its steel cords are used for reinforcing tires in passenger cars, trucks, off-road vehicles, and others. These meet the high performance, safety, environment, and cost criteria. The company also provides super-tensile and ultra-tensile strength cord to reduce weight and fuel consumption. Bekaert trades its tires cords under the Betru brand.
Hyosung offers nylon and polyester tire cords, chaffer, steel cord, and bead wire. It also offers tire cords made of PEN, lyocell, and aramid. Hyosung's bead wire is used in reinforcing radial tires that are offered in a variety of strengths and can be customized as per customer needs.
Kolon Industries offers tire reinforcement materials through its industrial materials segment. The company offers polyester and nylon 66 cords for reinforcing tires. Polyester cords (mostly used for passenger car radial tires) provide high dimensional stability and are resistant to heat. Nylon 66 tire cords are used to prevent separation between cords and belts when the tire is rotating.
Kordsa Global offers cord fabric and single end cord under the tire reinforcement technology business unit. These products are traded under the Capmax, Twixtra, and Monolyx brand names. The company processes nylon 6.6, polyester, rayon, and aramid yarns for the production of cord fabric. The company trades its hybrid cord product under the Twixtra brand name. It also manufactures environment-friendly tire cord fabrics.
Toray Industries provides reinforced rayon fibers, nylon fibers, and tire cords to Tier 1 and Tier 2 suppliers of automobile manufacturers. Its nylon fibers provide resistance to tensile load, friction, and chemicals.
The other prominent vendors are:
- Milliken & Company
- Tokusen Kogyo
All product names, brands and trademarks are the property of their respective owners
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