Steel Cord Market
Steel Cord Market Global Industry Assessment & Forecast
Segments Covered
- By Product Types Normal Tensile (NT), High Tensile (HT), Others
- By Application Passenger Car Use, Freight Car Use, Others
Snapshot
Forecast Years: | 2021 - 2028 |
Historical Years: | 2016 - 2020 |
Revenue 2021: | 5.81 Billion |
Revenue 2028: | 9.08 Billion |
Revenue CAGR (2021 - 2028): | 5.74% |
Fastest Growing Region (2022 - 2028) | Asia Pacific |
Customization Offered
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request Customization Speak To Analyst
Sr. No. | Offering | Report Coverage |
1. | Market Size | In terms of Revenue (USD Million) |
2. | Historic Data | 2015 to 2019 |
3. | Forecast Data | 2021 to 2028 |
4. | Market Drivers, Restraints, Opportunities, & Regional Market Trends | Yes |
5. | Market Attractiveness Analysis | Yes |
6. | Segment Analysis | Maximum Segments |
7. | Regional Coverage | 5 Regions |
8. | Country Coverage | Top 22 Countries |
9. | Competitive Landscape and Company Market Share Analysis | Yes. Exhaustive information will be provided in two separate chapters of Competitive Landscape and Company Profiles. |
10. | Porter’s Five Forces Analysis | Yes. |
11. | Value Chain Analysis | Yes |
12. | PEST Analysis | Yes |
13. | Regulatory Landscape | Yes |
14. | Technology Landscape | Yes |
15. | COVID-19 Impact Analysis | Yes. Exhaustive information for Key Strategies Undertaken by Companies, Impact Assessment of the COVID-19 Pandemic by Region, along with Short-term and Long-term dynamics. |
16. | Top startups to watch out for | Yes |
17. | Top 3 Trends to Watch | Yes |
18. | Top 3 Strategies Followed by Major Players | Yes |
19. | Top 3 Predictions by Vantage Market Research | Yes |
20. | Discussion Guide | Yes |
21. | Key Primary Respondents - VERBATIM | Yes |
22. | Transcripts from the Primary Respondents | Additional Cost USD 1,000 |
23. | Others/Miscellaneous |
FAQ
Frequently Asked Question
What is the global demand for Steel Cord in terms of revenue?
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The global Steel Cord valued at 5.81 Billion in 2020 and is expected to reach 9.08 Billion in 2028 growing at a CAGR of 5.74%%.
Which are the prominent players in the market?
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The prominent players in the market are Bekaert, Hubei Fuxing New Material, Tokusen, BMZ, Shougang Century, Tokyo Rope MFG, ArcelorMittal, Junma Tyre Cord, Sodetal, Hyosung, Bridgestone, Sumitomo Electric Industries, Jiangsu Xingda Steel Cord, Henan Hengxing, Shandong SNTON Steel Cord..
At what CAGR is the market projected to grow within the forecast period?
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The market is project to grow at a CAGR of 5.74%% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
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The driving factors of the Steel Cord include
- The increasing demand from automotive industry is anticipated to augment the growth of the steel cord market during the forecast period. The automotive industry is one of the most demanding sectors in the global market, since it requires a systematic increase in productivity. The steel wires is used to control some of the basic functions in cars, such as the elevation of car-door windows and so on and are suitable for both mechanically and electrically operated rope systems in cars, motorcycles and bicycles.
- The increasing developments and technologies is another primary factor supporting the growth of the steel cords market in the years to come. The steel cord can be recycled from tires and used in concrete as it controls crack propagation and has better durability. Steel cord concrete mixes have better compressive strength characteristics. Furthermore, the forthcoming technology like nitrogen tires, eco tires and flat run tires is likely to drive the global steel cords market demand.
Which region accounted for the largest share in the market?
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Asia Pacific was the leading regional segment of the Steel Cord in 2020.