Steel Cord Market Segmented by Material, Type, Application, and Geography - Growth, Trends and Forecast 2023 “Advantages such high thermal resistance and enhanced traveling performance advantage the significance of steel cord for automotive industry. The market for steel cords is highly influenced by the number of market entrants in the automobile industry.”
The Global Steel Cord Market is anticipated to grow at a CAGR of 4.2% in the forthcoming period. Steel cord possesses excellent strength and flexibility and is used in various verticals for numerous applications. For instance, it is used as a reinforcing material for conveyor belts and automotive tires. Browse Full Research Report @ https://www.millioninsights.com/industry-reports/steel-cord-market
As a strand of fine wires of steel, called “filaments”, the steel cord is significantly used for automobile tires. Advantages such high thermal resistance and enhanced traveling performance advantage the significance of steel cord for automotive industry. The market for steel cords is highly influenced by the number of market entrants in the automobile industry. Since it also deals with mileage performance and the reveals the need for lighter tires, steel cords find a suitable use in the automobile sector. The market is driven by rise in demand from automotive industry and emergence of new trends in the tire industry. Technological enhancement in tire industry also witnesses a positive traction. Other technologies such as flat run tires, eco tires, and nitrogen tires are anticipated in significant market development. Product segmentation for steel cord market includes zinc coated, and brass coated cords. Application segment for steel cord market comprises heavy equipment tires, cargo truck tires, conveyor belts, rubber framework and light truck tires.
Geographical segmentation for market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific regions are likely to account for a significant market share owing to change in consumer lifestyle and rise in disposable income. Increase in R&D activities and entry of new market entrants are likely to propel the regional market growth. European regions are likely to gain a steady yet stable market growth owing to moderate demand for steel cords in the automotive industry. The key players profiled in the steel cord market report include Michelin, Tokyo Rope Mfg Co Ltd, Sodetal, Bridgestone, XINGDA, Junma, Tesc, Jesc, Goodyear, DuPont, Bekaert, Kordsa Global, Hyosung, Tenheng and HengXing. Get a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/steel-cord-market/request-sample
Market Segment: Key Applications • Passengers Cars • Commercial Vehicles Key Regions • North America • Europe • Asia Pacific • Middle East and Africa • South America Key Vendors • Bekaert • ArcelorMittal • Kiswire • Tokyo Rope
• Hyosung • Tokusen • Bridgestone • Jiangsu Xingda • Shandong SNTON • request free sample to get a complete list of companies See More Reports of This Category by Million Insights @ https://www.millioninsights.com/industry/chemicals-and-materials
Browse Full Research Report @ https://www.millioninsights.com/industry-reports/steel-cord-market
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