The Steel Cords Market trends are analysed from recent past with an eye on coming years in this report that also offers projections for Steel Cords industry targeted at helping in business decisions.
Global Steel Cords Market size is set to witness exceptional growth owing to its excellent strength and resilience properties. The product is used in various industrial applications such as reinforcement of materials for tires and conveyer belts.
With rising demand from the automotive industry and growing safety concerns, the global steel cords market is witnessing robust growth. Newer and developing technologies in the automotive industry are on the lookout for attention from the industry leaders.
The global automotive tire industry was valued over 200 billion in 2016 and is expected to grow at a decent CAGR in the forecast period, led by rapidly increasing demand in Asia Pacific. The automotive tire industry is growing at a considerable pace for the past few years in terms of revenue as well as volume due to the rise in demand for OEM as well as replacement tires.
Due to improving technology and development in tire innovation, the steel cords market is likely to observe high growth. Also, with current research and development activities, the industry will experience innovative designs and processes.
Brass alloy is most commonly used for coatings as it acts as a reinforcement material. The advantage in using zinc is that increase in the thickness of zinc coating leads to increase in corrosion resistance. On the other note, it decreases fatigue resistance which is one of the drawback. Also, zinc coating creates a lot of zinc particles and zinc dust during the downstream working of the coated filaments such as twisting into cords & strands and cold drawing.
Based on the application, the steel cord market share can be bifurcated into aircraft tires, heavy equipment tires, cargo truck tires, light truck tires, car tires, conveyer belts and other rubber framework materials. With improved adhesion, it offers long tire life with reducing tire weight and rolling resistance at an economical cost. It provides customers with tires that are long-lasting, easy to maintain, safe, and stronger than fiber materials such as nylon and polyester.
Steel cords are tire reinforcement materials with an excellent growth rate. The product is also used in the manufacture of conveyer belts owing to its properties such as chemical resistance, thermal stability, low elongation, and resistance to corrosion & rotting.
The differentiating factor of Steel Cord Market share report by Global Market Insights, Inc. when compared with other, similar syndicated research studies includes a 360-degree synopsis of trends for a period of more than 10 years including historic information as well as future outlook. Business focused multiple trends for Steel Cords industry are discussed along with regional trends to offer an overall view of the market.
The ‘industry insights’ chapter of this research provides the most comprehensive analysis of Steel Cords Industry covering segmentation, size, forecasts, ecosystem analysis and more. Industry impact forces (regional and global) that cover growth drivers and challenges, growth potential analysis, a strategy dashboard for competitive landscape of Steel Cords Market support this sector
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