The Polyester Tire Cord Market is expected to increase by USD 488 million billion. As per the research report 2024-2028 published by Technavio, the market is expected to grow at a CAGR of 4.12% during the forecast period. The industry is segmented by Application (Automotive, Construction, Two wheelers, Agriculture, and Aerospace) and Geography (APAC, Europe, North America, South America, and Middle East and Africa).
The polyester tire cord market represents a significant segment within the global tire industry. This market is driven by the rising demand for fuel-efficient and durable tires. Polyester tire cords offer superior strength and flexibility, making them an ideal choice for tire manufacturers seeking to enhance tire performance and longevity. Key players in this market include companies such as DuPont, Teijin Aramid, and Hyundai S-Chemical. These firms are investing in research and development to innovate and expand their product offerings, thereby fueling market growth.
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The APAC hold the largest regional market size in the current year. The polyester tire cord market is experiencing significant growth due to its superior strength-to-weight ratio and resistance to heat, oil, and chemicals. This high-performance material is increasingly being adopted by tire manufacturers to enhance fuel efficiency and durability in tires. The market is expected to expand at a robust CAGR, driven by increasing automotive production and the shift towards sustainable and eco-friendly tire solutions.
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The global tires and rubber market encompasses businesses involved in the production of tires for various vehicle types and rubber used in tire manufacturing. According to Technavio's market analysis, this market's growth is underpinned by the aftermarket segment's significant potential. Historically, the aftermarket has experienced greater expansion than original equipment (OE) fitment. This trend is attributed to the increasing longevity of vehicles and the recurring need for tire replacements.
The Polyester Tire Cord Market is experiencing significant growth, fueled by the Rising adoption of polyester tire cords for passenger cars. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
The Polyester Tire Cord Market is witnessing significant growth due to the increasing demand for high-performance tires in various applications, particularly in the automotive industry. Polyester tire cord fabrics offer a superior combination of flexibility, durability, and tensile strength, making them ideal for tire reinforcing materials. Synthetic fibers like Rayon, Aramid, Nylon, and Polyester are widely used in tire cord fabrics to enhance tire performance. Polyester fibers, in particular, are preferred for their high abrasion resistance, heat resistance, and puncture resistance. These properties make them suitable for producing fuel-efficient tires that offer extended tread life and improved vehicle safety. With the increasing production of electric vehicles (EVs), the demand for fuel-efficient tires is expected to grow, further boosting the polyester tire cord market. Raw material prices and vehicle production volumes are key factors influencing the market dynamics. High-tensile strength polyester fibers are increasingly being used to reinforce tires for passenger cars, trucks, and buses. The textile materials used in tire cord fabrics are subjected to rigorous testing to ensure they meet the required standards for tire performance, including heat resistance, puncture resistance, and tread wear. Overall, the polyester tire cord market is expected to continue its growth trajectory in the coming years.
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