Steel Cord Market

Steel Cord Market by Product Types (Normal Tensile (NT),High Tensile (HT), Others) by Application (Passenger Car Use, Freight Car Use, Others) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028

Frequently Asked Questions

  • What is the global demand for Steel Cord in terms of revenue?

    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?

    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?

    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.

    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?

    Asia Pacific was the leading regional segment of the Steel Cord in 2020.

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