Tire Reinforcement Materials Market Grow at CAGR 3.53% by 2017-2025

TIRE REINFORCEMENT MATERIAL MARKET Â

Global Industry Trends, Size, Share & Analysis 2017-2025

Tire Reinforcement Materials Market “Global Tire reinforcement materials market is anticipated to increase at an estimated CAGR of 3.53% over the forecast period of 2017-2025�

Global Tire reinforcement materials market is anticipated to increase at an estimated CAGR of 3.53% over the forecast period of 2017-2025. The key factors for the market growth include growth in automotive industries, economic developments in the APAC region, and the enhanced properties of reinforced tires.

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Market Insights

Global tire reinforcement materials market is segmented on the basis of materials and types.

The materials segment include steel, polyester, rayon, nylon, etc. The demand for steel materials in tire reinforcements is fast gaining momentum. The market segment by type comprises of tire bead wire and tire cord fabric. The tire cord fabric segment is leading the market at present.

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Regional Insights Europe

Asia-pacific

North America

North America tire reinforcement material market was calculated to be worth $3146 million in 2016. The market is now set to rise at an estimated CAGR of 2.93%, collecting a market share of $4088 million by the end of the forecasted years of 2017-2025.

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Europe tire reinforcement` market is anticipated to grow at a CAGR of 2.79%, collecting a net worth of $3309 million over the forecast period of 2017-2025

Asia Pacific tire reinforcement materials market is forecasted to rise at a CAGR of 3.77% for the years 2017-2025. The market value is also estimated to rise from $7436 million in 2016 to $10317 million by 2025.

Tire Reinforcement Material Market Forecast Tire Reinforcement Mat erial Market 2017-2025 Forecast 2017-2025 Growing at a Request Free Sample!

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Global Tire reinforcement materials market is anticipated to increase at an estimated CAGR of 3.53% over the forecast period of 2017-2025. The key factors for the market growth include growth in automotive industries, economic developments in the APAC region, and the enhanced properties of reinforced tires.

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CAGR 3.53

%

During the Forecast Period of

2017-2025

Competitive Insights These market players are implementing organic and inorganic strategies such as partnerships, mergers, and acquisitions, etc. for their growth. For example, Toray Industries Inc announced buying the entire stakes of Zoltek Companies Inc, a manufacturer of large tow carbon fibers in the US in February 2016. In the same year, a successful merger happened between Bekaert and Ontario Teachers' Pension Plan for their ropes and advanced cords businesses. Some of the other important global market players include Century Enka Limited, Formosa Taffeta Co Ltd, Michelin, Hyosung Corporation, Toray Industries Inc, Shenma Industrial Co Ltd, Kolon Industries Inc, Kordsa Global, and Dupont.

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