Steel Cord Market is Expected to be Driven by Rising Demand From Automotive Industry by 2023 | Million Insights

News provided by

Nov 21, 2018, 05:48 ET

FELTON, California, November 21, 2018 /PRNewswire/ --

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.

Browse research report with TOC on "Global Steel Cord Market" at: https://www.millioninsights.com/industry-reports/steel-cord-market

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.

Browse reports of similar category available with Million Insights:

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

- Key Questions Answered in this Report

What will the market size be in 2023?
What are the key factors driving the global steel cord market?
What are the challenges to market growth?
Who are the key players in the steel cord market?
What are the market opportunities and threats faced by the key players?

About Million Insights:

Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

Contact:
Ryan Manuel
Research Support Specialist, USA
Million Insights
Phone: +1-408-610-2300
Toll Free: 1-866-831-4085
Email: [email protected]

Web: https://www.millioninsights.com/

Blog: http://www.millioninsights.blogspot.com/

SOURCE Million Insights