Tire Reinforcement Materials Market Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026 Contact: Venkat Reddy sales@industryarc.com (+1) 970-236-3677
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• Tire Reinforcement Materials Market is expected to be valued at $19.3 billion by the end of the year 2026 growing at a CAGR of 3.5% during 2021-2026. • The growth in the automobile industry, owing to the increase in sales of passenger vehicles and commercial vehicles hugely drives the tire reinforcement materials market. • Furthermore, the rise in the use of steel and rayon in tire belts of car by automobile manufacturers is further fueling the tire reinforcement materials market. Reinforcement materials like steel tire and tire cord fabric provides advantages such as rigidness and resistance against abrasion and damage. Contact: (+1) 970-2363677 Email: sales@industryarc.com
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Key Takeaways Asia-Pacific market held the largest share in the tire reinforcement materials market owing to the presence of largest automotive sector especially in the countries like China, India, and South Korea. The rapid growth of automobile sector across the globe is majorly driving the tire reinforcement materials market. The upsurge in population is estimated to affect the automobile industry by increasing the demand for automotive, which is further driving the tire reinforcement materials market. New technologies in the automobile industry such as flat run tires, eco tires, steel tires and nitrogen using tires are further driving the tire reinforcement materials market for strengthening the tire and the sidewalls. Contact: (+1) 970-2363677 Email: sales@industryarc.com
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By Distribution Channel- Segment Analysis Tire cord fabric segment held the largest share in the tire reinforcement materials market in the year 2020 and is estimated to grow at the CAGR of 3.2% during the forecast timeframe. Tire cord fabric is extensively used in tires for passenger cars, buses, and trucks. Tire cord fabric is a significant component of tire reinforcement and it is stronger than fiber materials, as it provides excellent resistance to heat and fatigue. Tire cord fabric provides strength to the tire and helps in maintaining the life period of the tires. Tire cord fabric is an important component in withstanding the weight of the vehicle and providing balance to the vehicle. Therefore, it is highly driving the tire cord fabric segment in the tire reinforcement materials market. Contact: (+1) 970-2363677 Email: sales@industryarc.com
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Tire Reinforcement Materials Market Industry Outlook • DuPont • Hyosung • SRF Limited. • Teijin Ltd. • Toray Hybrid Cord, Inc
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Tire Reinforcement Materials Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026 Learn More About the Report
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