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Last Updated: Jun 12, 2025 | Study Period: 2023-2030
Tire reinforcement sometimes includes steel cord, which increases tyre strength and tensile durability. Steel cord is created by twisting a number of wire strands together to create a single cord. Typically, high-strength steel, like carbon steel or stainless steel, is used to create the wire strands.
There are several benefits to using steel cord for tyre reinforcing. It offers a high level of tensile strength, enhancing the tire's endurance and resistance to damage and punctures. Moreover, it offers a lot of stiffness, which enhances the tire's handling and stability.
Radial tyres, the most popular kind of tyre used on contemporary automobiles, typically make use of steel cord. Steel strands that run perpendicular to the tire's direction of travel are incorporated into the rubber compound of radial tyres.
Its design aids in more evenly distributing the vehicle's weight across the tire's surface, enhancing handling and extending tyre life.Overall, steel cable is an essential part of tyre manufacturing because it gives tyres the strength, stiffness, and durability needed to maintain their optimal performance.
The Steel Cord for Tire Reinforcement market within the chemical industry encompasses a wide range of crucial materials and components that serve as backbone elements across diverse industries such as agriculture, healthcare, construction, electronics, and automotive. This market plays a pivotal role in driving industrial innovation, and delivering solutions that enhance product efficiency, sustainability, and cost-effectiveness. As global industries strive to address the increasing demand for environmentally friendly products, resource conservation, and adherence to strict regulations, the requirement for advanced Steel Cord for Tire Reinforcement chemicals has escalated significantly. Key factors shaping the market include regional manufacturing capacities, prominent Original Equipment Manufacturers (OEMs), Tier 1 chemical suppliers, regulatory landscapes, and funding initiatives. Moreover, advancements in green chemistry, the rise of Industry 4.0 practices, and circular economy initiatives are accelerating the adoption of Steel Cord for Tire Reinforcement chemicals across sectors.
Global steel cord for tire reinforcement market accounted for $XX Billion in 2024 and is anticipated to reach $XX Billion by 2032, registering a CAGR of XX% from 2025 to 2032.
China continues to dominate the global chemical production landscape, accounting for nearly 40% of the total manufacturing capacity. The country,s chemical sector is a critical supplier for industries such as renewable energy, construction, electronics, and automotive. Industry leaders like Sinopec, PetroChina, and ChemChina maintain a competitive edge through partnerships with global firms and a well-established network of Tier 1 suppliers.
The government s focus on sustainability is evident in policies promoting cleaner production methods and investments in materials for New Energy Vehicles (NEVs) and high-performance chemicals. Strategic R&D initiatives emphasize the development of bio-based polymers, emissions-reducing compounds, and advanced battery materials. Additionally, the integration of energy-efficient technologies in manufacturing and recycling practices solidifies China,s role as a global frontrunner in the Steel Cord for Tire Reinforcement market.
Europe maintains its position as a hub for premium-quality chemicals, catering to industries like automotive, renewable energy, and pharmaceuticals. Major players such as BASF, AkzoNobel, and Bayer, supported by Tier 1 suppliers like Solvay and Clariant, lead the market. The region,s chemical production is governed by stringent environmental regulations, including the European Green Deal and REACH, which drive demand for Steel Cord for Tire Reinforcement chemicals aligned with safety, recyclability, and low-emission standards.
Europe,s investment in circular economy models has spurred growth in materials such as recyclable polymers and sustainable energy solutions. Collaborative efforts between academia and industry fuel innovation in green chemistry and biodegradable Steel Cord for Tire Reinforcement chemicals. Trade policies favoring regional manufacturing also limit competition from non-EU imports, further shaping the market.
The U.S. chemical industry is a global powerhouse, driven by its extensive industrial framework and diverse applications across agriculture, healthcare, and transportation. Companies like Dow, DuPont, and ESteel Cord for Tire ReinforcementonMobil, along with Tier 1 players such as Eastman Chemical and Celanese, dominate the landscape.
Government-backed initiatives supporting bio-based materials, carbon footprint reduction, and supply chain resilience are propelling the adoption of sustainable Steel Cord for Tire Reinforcement chemicals. Rising investment in green technologies like advanced battery compounds, bio-polymers, and emission-reducing solutions is further boosting the market. Additionally, incentives to localize production have strengthened the domestic supply chain, enabling the U.S. to mitigate reliance on international imports.
Countries such as Japan, South Korea, and India form a significant segment of Asia,s chemical industry. Japan, represented by companies like Mitsubishi Chemical and Toray, specializes in high-performance materials, while South Korea leads in battery components with firms like LG Chem and Samsung SDI. Meanwhile, India,s rapidly expanding chemical market, driven by companies like Tata Chemicals and UPL, focuses on agrochemicals and specialty products.
Government policies in these countries emphasize reducing emissions, promoting local manufacturing, and adopting sustainable practices. Investments in R&D for energy-efficient and recyclable Steel Cord for Tire Reinforcement chemicals have positioned these nations as global leaders in niche markets. South Korea and Japan, for example, are prioritizing innovations in advanced polymer and battery technologies to meet international demands.
In regions such as South America, Africa, and the Middle East, the Steel Cord for Tire Reinforcement market is steadily growing, spurred by industrial expansion and cost-efficient production capabilities. In South America, Brazil leads the charge, with Petrobras and Braskem playing major roles. In Africa and the Middle East, industry giants like SABIC and Sasol dominate, focusing on petrochemicals and agricultural products.
Government reforms encouraging local production and eco-friendly initiatives are driving demand for sustainable Steel Cord for Tire Reinforcement chemicals in these regions. The development of materials tailored to unique environmental needs, such as drought-resistant polymers or bio-based compounds for tropical climates, further supports market growth in these emerging regions.
The Steel Cord for Tire Reinforcement market is poised for significant growth as industries globally place greater emphasis on sustainable, innovative, and cost-efficient solutions. With ongoing investments in advanced R&D, digital transformation, and localizing production capabilities, the market,s growth trajectory remains robust.
Emerging trends such as AI-optimized manufacturing, renewable energy integration, and advancements in chemical recycling technologies are set to redefine the industry. The alignment of regulatory frameworks with global sustainability goals will further encourage the adoption of Steel Cord for Tire Reinforcement chemicals across applications. By balancing innovation, compliance, and cost-effectiveness, the Steel Cord for Tire Reinforcement market is expected to play a pivotal role in shaping a sustainable future for the global chemical industry.
At its steel tyre cord plant in Thailand, Jiangsu Xingda Steel Tyre Cord Co. Ltd has begun an RM expansion project.
The unit's construction is anticipated to be finished in less than months, and it has a designed production capacity of 200 kilotonnes per annum (ktpa) of steel cable.
According to a corporate statement sent on, the investment is meant to "grow its global footprint and better meet the demand of its foreign clientele."
The project has now received official approval from China's National Development and Reform Commission, claims Xingda, situated in Xinghua City.
With a 100ktpa steel cable production capability, Xingda, a global producer of tyre reinforcement supplies, opened a plant in Thailand.
According to reports, the factory makes products for tyre manufacturers in Southeast Asia, India, the Americas, and Europe using cutting-edge production machinery and technology
| Sl no | Topic |
| 1 | Market Segmentation |
| 2 | Scope of the report |
| 3 | Abbreviations |
| 4 | Research Methodology |
| 5 | Executive Summary |
| 6 | Introduction |
| 7 | Insights from Industry stakeholders |
| 8 | Cost breakdown of Product by sub-components and average profit margin |
| 9 | Disruptive innovation in the Industry |
| 10 | Technology trends in the Industry |
| 11 | Consumer trends in the industry |
| 12 | Recent Production Milestones |
| 13 | Component Manufacturing in US, EU and China |
| 14 | COVID-19 impact on overall market |
| 15 | COVID-19 impact on Production of components |
| 16 | COVID-19 impact on Point of sale |
| 17 | Market Segmentation, Dynamics and Forecast by Geography, 2025-2032 |
| 18 | Market Segmentation, Dynamics and Forecast by Product Type, 2025-2032 |
| 19 | Market Segmentation, Dynamics and Forecast by Application, 2025-2032 |
| 20 | Market Segmentation, Dynamics and Forecast by End use, 2025-2032 |
| 21 | Product installation rate by OEM, 2023 |
| 22 | Incline/Decline in Average B-2-B selling price in past 5 years |
| 23 | Competition from substitute products |
| 24 | Gross margin and average profitability of suppliers |
| 25 | New product development in past 12 months |
| 26 | M&A in past 12 months |
| 27 | Growth strategy of leading players |
| 28 | Market share of vendors, 2023 |
| 29 | Company Profiles |
| 30 | Unmet needs and opportunity for new suppliers |
| 31 | Conclusion |
| 32 | Appendix |
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