Steel Cord Market Rising Demand | Revenue Drivers & Growth Opportunities | Research Report

The Global Steel Cord Market research report offers a complete breakdown of the industry scope, assumptions, segmentation, key strategies, revenue, shares, and size of top players. This syndicated research report also provides application, regional, product insights, and offers ready, data-driven answers to many industry-level questions.

Market Insights:

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.

Key Players:

• Bekaert
• ArcelorMittal
• Kiswire
• Tokyo Rope
• Hyosung
• Tokusen
• Bridgestone
• Jiangsu Xingda
• Shandong SNTON

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Growth Drivers:

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.

Market Segment:

Key Applications
• Passengers Cars
• Commercial Vehicles

Key Regions
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America

Regional Insights:

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.

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