Request Sample Inquiry
Steel Cord Market

Steel Cord Market

Steel Cord Market Global Industry Assessment & Forecast

# Pages:

175

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0548

Segments Covered
  • By Product Types Normal Tensile (NT), High Tensile (HT), Others
  • By Application Passenger Car Use, Freight Car Use, Others
Snapshot
Forecast YearsForecast Years: 2021 - 2028
Historical YearsHistorical Years: 2016 - 2020
Revenue 2021Revenue 2021: 5.81 Billion
Revenue 2028Revenue 2028: 9.08 Billion
Revenue CAGRRevenue CAGR (2021 - 2028): 5.74%
Fastest Growing Region 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

The report delivers an acute breakdown of the market based on various segments such as Product Types, Application, and region. The report will cover market estimations and forecast for each segment by region for the years 2016–2028. Several growth factors and opportunities impacting various segments have been incorporated in the report.

On the basis of Product Types, the market is divided into Normal Tensile (NT),High Tensile (HT), Others. High Tensile (HT) held the largest share in 2020 and is projected to witness substantial growth during the forecast period.

Based on Application, the market is divided into Passenger Car Use, Freight Car Use, Others. Passenger Car Use attributed to the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

Global Steel Cord Market: Product Types Segment Analysis

    • Normal Tensile (NT)
    • High Tensile (HT)
    • Others

Global Steel Cord Market: Application Segment Analysis

    • Passenger Car Use
    • Freight Car Use
    • Others
FAQ
Frequently Asked Question
  • 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%%.

  • 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..

  • The market is project to grow at a CAGR of 5.74%% between 2021 and 2028.

  • 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.

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