Global Tire Cord Fabrics Market was valued at US$ 4.9Bn in 2017 and is expected to reach US$ 7.9Bn by 2026, at a CAGR of 6.15% during a forecast period.
Global Tire Cord Fabrics MarketThe growing demand for automotive all over the world, especially in the developing countries of Asia Pacific is likely to fuel the sales of tire cord and tire fabrics. Subsequently, the market is specifically related with the state of the automotive sector, fluctuations in financial conditions influencing automobile manufacturers as well. It meaningfully impacts the prospects for organizations production in tire cords and fabrics deal.
The market experts are putting their bets on these nations. The rise in the middle-class population in China and India has extensively contributed in the soaring demand for car in Asia Pacific, which makes the region the most appealing market for tire cord and tire fabrics.
Based on application segment,the replacement segment is estimated to hold largest market share during forecast period. The quality of tires degrades as the vehicles ages and so does the original equipment (OE) tire technologies. Hence, replacement tires are a suitable choice for…
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