Tire Cord And Tire Fabrics Market size is forecast to attain USD 6.40 billion by 2024; as per a new research report by Global Market Insights, Inc.

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Tire Cord And Tire Fabrics Market
Robust Growth in Automotive Industry | 2016 To 2024

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Table of Contents:-
 Methodology & Scope
 Executive Summary
 Tire Cord & Tire Fabrics Industry Insights
 Tire Cord & Tire Fabrics Industry Product Insights
 Tire Cord & Tire Fabrics Industry Regional Insights
 Company Profiles
 89 Tables
 12 Figures
Detailed Table of contents @
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Tire Cord And Tire Fabrics Market size is forecast to attain USD 6.40 billion by 2024; as per a new
research report by Global Market Insights, Inc.
Robust growth in the automotive industry is the major factor for the global tire cord and tire fabrics
market size. U.S., India, Japan, China and South Korea are the prominent countries for the automotive
sector and accounts more than 50% of the global commercial and personal vehicle production in 2015.
Growing middle class population along with rising consumer per capita disposable income in China and
India will complement the automotive business growth by 2024.
Furthermore, Asia Pacific has gathered attention from American & European car manufactures, including
BMW, Audi and Mercedes, to introduce their business operations in the region owing to rising consumer
purchasing potential. In 2015, the overall vehicle production was roughly around 90 million units. This
trend shall subsequently boost the tire cord and tire fabrics market share by 2024.
Global Market Scenario of Tire Cord & Tire Fabrics Industry

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 U.S. plays a vital part in the automotive industry, as it accounts for over 65% of the total commercial
& personal vehicles sales in North America. Elevating U.S. economy after 2008 economic downturn is
likely to stimulate the industry growth by 2024. The commercial & personal automobiles sale is
anticipated to exceed 12 million and 10 million units over the projected period owing to boost the global
tire cord and tire fabrics market size by 2024.
European automotive sales are decreasing due to stagnant GDP growth. For example, in 2005, the
total commercial vehicle sales were around 3 million units and marked close to 2,4 million units in
2013. Correspondingly, the personal automotive sales declined from approximately 15 million units to
around 12 million units during the same period. This decline may hamper the global tire cord and tire
fabrics market size by 2024. However, development of bio-based and environment friendly substitutes
to traditional tire cord materials will open up new growth avenues for the industry participants, thereby
pushing business growth.
Continue.....
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Regional Analysis:-
 In 2015, North America, led by the U.S., was valued at over USD 800 million. Positive
economic indicators along with enormous customer base for luxurious cars and SUVs will
drive the regional tire cord and tire fabrics market share.
 In 2015, steel tire cords & tire fabrics market size generated revenue more than USD 1 billion.
Escalating radial tires demand in North America is evaluated to be the prime factor for the
product growth. Where, steel is primarily used in tire strengthening and extensively preferred
across commercial vehicles owing to boost business growth.
 Asia Pacific, particularly led by India, Japan, China, Indonesia, dominated the global tire cord
and tire fabrics market share in 2015. Furthermore, the region is gathered attention from
numerous automotive manufacturers including Volkswagen and Nissan towards setting up
manufacturing and sales facilities in the region, owing to positively influence the regional
growth by 2024.
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Latest Research Report On Tire Cord And Tire Fabrics Market Research Report@
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