Increasing demand of mobile
owing to increase in disposable income of the people in different part of
world. Tire Reinforcement Industry is expected
to witness growth owing to increasing demand for advance products in airline
industry. The tires manufactured by different companies by using tire
reinforcement materials have to make their end product for end user to be very
efficient owing to fact that tires of any automotive vehicles helps in
achieving desired fuel efficiency. All the companies in tire reinforcement
industry are expected to follow four strategic initiatives over the forecasted
period that are as follows, growth, Empowered global team, innovation and
operational excellence. Tire Reinforcement Materials is expected to witness
increase in demand over the forecasted period owing to increasing demand of
Automobiles and two wheelers in different part of world.
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The major drivers of tire
reinforcement materials market over the forecasted period is increasing demand
of eco friendly tires. Increasing demand of automobiles motorcycles and cycles
is also fuelling the growth of tire reinforcement materials market. Technology
advancement in the generation of tires is also fuelling the growth of tire
reinforcement materials market. Globalisation in the world is also fuelling the
growth of tire reinforcement materials market owing to companies are pursuing
their global strategies to enhance their growth and thus strengthens the growth
of tire reinforcement materials market. Another driver that has contributed to
the growth of tire reinforcement materials market is increase in replacement demand
of tires .Growing rate of demand of retreading tires and fluctuating price of
raw material can pose challenge over the forecasted period.
Tire reinforcement materials
market can be segment on the basis of type of materials that are steel cord
fabric, rayon cord fabric, steel wire, nylon cord fabric, PEN (polyethylene
naphtha late) cord fabric, aramid cord fabric. These materials are used to make
different part of tires that are cap piles, carcasses, belt plies, bead for
tires. All these materials are further used in motorcycles, bicycles and
automobiles. New technologies such as nitrogen tire, eco tires and flat run
tires are further segmenting the market. Largest growing market is of steel
tire cord fabric market owing to increasing demand of heavy duty carcass
market. This material is also used to manufacture radial tire.
Demand of radial tire is
expected to increase over the forecasted period and thus it will be fuelling
the growth of tire reinforcement materials market over the forecasted period.
Belt piles of radial tires are made up of steel tire cord fabric .The fastest
growing market is expected over the forecasted period is expected to be PEN
tire cord fabric and Advanced Polyester Tire cord fabric.PEN material is the
next generation tire enforcement material. Using of PEN reduces noise of tire,
weight and resistance(rolling).It is very cost effective in comparison to other
materials used for making tires.
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