14 February 2019:
Steel
Cord Market was million US$ in 2018 and is expected to million
US$ by the end of 2023, growing at a CAGR of between 2019 and 2023.This report
studies the Steel Cord market size (value and volume) by players, regions,
product types and end industries, history data 2014-2018 and forecast data
2019-2023; This report also studies the global Steel Cord market competition
landscape, market drivers and trends, opportunities and challenges, risks and
entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
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.
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.
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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.
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Steel Cord Market by
Geographical Regions:-
•
North America
•
Europe
•
Asia Pacific
•
Middle East and Africa
•
South America
Steel Cord Market by
Applications:-
•
Passengers Cars
•
Commercial Vehicles
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