The global Steel Tire Cord Market Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Type (Brass Coated, Zinc Coated, Copper Coated, Others), By Application (Passenger Vehicle Tires, Commercial Vehicle Tires, Two-Wheeler Tires, Aircraft Tires, Industrial Tires).
Steel tire cord is a critical component used in the reinforcement of automobile tires, providing strength, stability, and durability to the tire structure. In 2024, the market for steel tire cord is witnessing steady growth, driven by the increasing demand for high-performance tires in the automotive industry, particularly in passenger vehicles, commercial trucks, and off-road vehicles. Steel tire cord is typically made from high-carbon steel wires that are twisted together to form strands, which are then further twisted or braided to create the tire cord. These cords are embedded in the tire's rubber compound during the manufacturing process, providing reinforcement to withstand the forces encountered during vehicle operation, including road impacts, cornering, and braking. With advancements in steel manufacturing processes, surface treatments, and cord design, manufacturers are producing steel tire cord with improved tensile strength, fatigue resistance, and adhesion to rubber compounds, enhancing tire performance and longevity. Further, the transition towards electric vehicles and autonomous driving technologies is driving innovation in tire design, leading to increased demand for lightweight and high-strength materials such as steel tire cord to optimize fuel efficiency, handling, and safety. As automotive manufacturers and tire producers to prioritize performance, safety, and sustainability, the market for steel tire cord is poised for d growth, offering essential reinforcement solutions for the global tire industry.
The market report analyses the leading companies in the industry including Bekaert, Bridgestone (SHENYANG) Steelcord Co. Ltd, Henen Hengxing Technology Co. Ltd, HL Group Ltd, Hyosung Corp, Jiangsu Xingda Steel Tyre Cord Co. Ltd, Saarstahl, Shandong Hualian Group Co. Ltd, Sumitomo Electric Industries Ltd, Tokusen Kogyo Co. Ltd, Tokyo Rope Mfg. Co. Ltd, and others.
A significant trend in the steel tire cord market is the increasing demand for high-performance tires. Steel tire cords are critical components used in the reinforcement of radial tires, providing strength, stability, and durability to the tire structure. With the automotive industry's focus on safety, comfort, and performance, there is a growing demand for tires that offer superior handling, traction, and longevity. Steel tire cords play a vital role in meeting these requirements, particularly in heavy-duty vehicles, commercial trucks, and passenger cars. As consumers and manufacturers seek tires with enhanced performance characteristics, the demand for steel tire cords is expected to rise, driving market growth and creating opportunities for steel cord manufacturers and suppliers.
The primary driver behind the growth of the steel tire cord market is the growth of the automotive industry and tire manufacturing. With increasing vehicle production, rising consumer demand for automobiles, and expansion of the transportation sector, there is a steady demand for tires worldwide. Steel tire cords are essential components used in radial tire construction, providing reinforcement and strength to withstand the stresses of vehicle operation. The demand for steel tire cords is driven by tire manufacturers' need for reliable and high-quality materials to meet the stringent requirements of tire performance, safety, and durability. As the automotive industry continues to grow and evolve, the demand for steel tire cords is expected to remain strong, providing opportunities for steel cord manufacturers to expand production capacity, innovate product offerings, and capture market share.
An opportunity for the steel tire cord market lies in expansion into specialty and high-performance tire segments. While steel tire cords are widely used in standard passenger car and truck tires, there is an opportunity to penetrate niche markets such as performance tires, off-road tires, and specialty tires for motorcycles, bicycles, and agricultural vehicles. These segments often require tire cords with specific properties such as higher tensile strength, improved fatigue resistance, or enhanced flexibility to meet the demands of specialized applications. By developing innovative steel cord formulations and manufacturing techniques, manufacturers can tailor products to address the unique requirements of these segments and differentiate themselves in the market. Additionally, there is an opportunity to offer value-added services such as technical support, customization, and collaboration with tire manufacturers to develop customized solutions for specialty tire applications. Expanding into specialty and high-performance tire segments presents an opportunity for the steel tire cord market to diversify product offerings, capture new market segments, and drive growth in the tire reinforcement industry.
Within the steel tire cord market, the Brass Coated segment is the largest. Brass-coated steel tire cord offers superior properties such as high tensile strength, excellent adhesion to rubber, and resistance to corrosion and abrasion, making it a preferred choice for reinforcing tires in automotive applications. The brass coating provides a protective barrier against environmental factors, ensuring the longevity and performance of tires under various road conditions. Additionally, brass-coated steel tire cord enables tire manufacturers to produce tires with improved durability, stability, and safety, meeting stringent performance standards and regulations. Moreover, the versatility and cost-effectiveness of brass-coated steel tire cord make it suitable for a wide range of tire types, including passenger cars, trucks, buses, motorcycles, and bicycles. As the automotive industry continues to grow globally, driven by increasing vehicle production and demand for replacement tires, the demand for brass-coated steel tire cord in tire manufacturing remains high, contributing to the dominance of the Brass Coated segment within the steel tire cord market.
Within the steel tire cord market, the Two-Wheeler Tires segment is the fastest-growing. The demand for two-wheeler tires, including those used in motorcycles and bicycles, is increasing significantly due to the rise in urbanization and population growth in emerging economies has led to an increase in the sales of two-wheelers as a cost-effective mode of transportation for commuting and leisure activities. In addition, the growing popularity of electric bikes and scooters, particularly in urban areas, further drives the demand for two-wheeler tires. Additionally, the expansion of e-commerce and last-mile delivery services has increased the demand for delivery bikes and scooters, boosting the replacement tire market for two-wheelers. Moreover, the shift towards premiumization and performance-oriented bikes and motorcycles among enthusiasts drives the demand for high-quality tires with superior performance characteristics, such as those reinforced with steel tire cord. As a result of these factors, the Two-Wheeler Tires segment experiences rapid growth within the steel tire cord market, propelled by the increasing demand for two-wheeler vehicles and replacement tires worldwide.
By Type
Brass Coated
Zinc Coated
Copper Coated
Others
By Application
Passenger Vehicle Tires
Commercial Vehicle Tires
Two-Wheeler Tires
Aircraft Tires
Industrial TiresCountries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Bekaert
Bridgestone (SHENYANG) Steelcord Co. Ltd
Henen Hengxing Technology Co. Ltd
HL Group Ltd
Hyosung Corp
Jiangsu Xingda Steel Tyre Cord Co. Ltd
Saarstahl
Shandong Hualian Group Co. Ltd
Sumitomo Electric Industries Ltd
Tokusen Kogyo Co. Ltd
Tokyo Rope Mfg. Co. Ltd
*- List Not Exhaustive
TABLE OF CONTENTS
1 Introduction to 2024 Steel Tire Cord Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Covered
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Steel Tire Cord Market Size Outlook, $ Million, 2021 to 2032
3.2 Steel Tire Cord Market Outlook by Type, $ Million, 2021 to 2032
3.3 Steel Tire Cord Market Outlook by Product, $ Million, 2021 to 2032
3.4 Steel Tire Cord Market Outlook by Application, $ Million, 2021 to 2032
3.5 Steel Tire Cord Market Outlook by Key Countries, $ Million, 2021 to 2032
4 Market Dynamics
4.1 Key Driving Forces of Steel Tire Cord Industry
4.2 Key Market Trends in Steel Tire Cord Industry
4.3 Potential Opportunities in Steel Tire Cord Industry
4.4 Key Challenges in Steel Tire Cord Industry
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Steel Tire Cord Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Steel Tire Cord Market Outlook by Segments
7.1 Steel Tire Cord Market Outlook by Segments, $ Million, 2021- 2032
By Type
Brass Coated
Zinc Coated
Copper Coated
Others
By Application
Passenger Vehicle Tires
Commercial Vehicle Tires
Two-Wheeler Tires
Aircraft Tires
Industrial Tires
8 North America Steel Tire Cord Market Analysis and Outlook To 2032
8.1 Introduction to North America Steel Tire Cord Markets in 2024
8.2 North America Steel Tire Cord Market Size Outlook by Country, 2021-2032
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Steel Tire Cord Market size Outlook by Segments, 2021-2032
By Type
Brass Coated
Zinc Coated
Copper Coated
Others
By Application
Passenger Vehicle Tires
Commercial Vehicle Tires
Two-Wheeler Tires
Aircraft Tires
Industrial Tires
9 Europe Steel Tire Cord Market Analysis and Outlook To 2032
9.1 Introduction to Europe Steel Tire Cord Markets in 2024
9.2 Europe Steel Tire Cord Market Size Outlook by Country, 2021-2032
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Steel Tire Cord Market Size Outlook by Segments, 2021-2032
By Type
Brass Coated
Zinc Coated
Copper Coated
Others
By Application
Passenger Vehicle Tires
Commercial Vehicle Tires
Two-Wheeler Tires
Aircraft Tires
Industrial Tires
10 Asia Pacific Steel Tire Cord Market Analysis and Outlook To 2032
10.1 Introduction to Asia Pacific Steel Tire Cord Markets in 2024
10.2 Asia Pacific Steel Tire Cord Market Size Outlook by Country, 2021-2032
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Steel Tire Cord Market size Outlook by Segments, 2021-2032
By Type
Brass Coated
Zinc Coated
Copper Coated
Others
By Application
Passenger Vehicle Tires
Commercial Vehicle Tires
Two-Wheeler Tires
Aircraft Tires
Industrial Tires
11 South America Steel Tire Cord Market Analysis and Outlook To 2032
11.1 Introduction to South America Steel Tire Cord Markets in 2024
11.2 South America Steel Tire Cord Market Size Outlook by Country, 2021-2032
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Steel Tire Cord Market size Outlook by Segments, 2021-2032
By Type
Brass Coated
Zinc Coated
Copper Coated
Others
By Application
Passenger Vehicle Tires
Commercial Vehicle Tires
Two-Wheeler Tires
Aircraft Tires
Industrial Tires
12 Middle East and Africa Steel Tire Cord Market Analysis and Outlook To 2032
12.1 Introduction to Middle East and Africa Steel Tire Cord Markets in 2024
12.2 Middle East and Africa Steel Tire Cord Market Size Outlook by Country, 2021-2032
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Steel Tire Cord Market size Outlook by Segments, 2021-2032
By Type
Brass Coated
Zinc Coated
Copper Coated
Others
By Application
Passenger Vehicle Tires
Commercial Vehicle Tires
Two-Wheeler Tires
Aircraft Tires
Industrial Tires
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
Bekaert
Bridgestone (SHENYANG) Steelcord Co. Ltd
Henen Hengxing Technology Co. Ltd
HL Group Ltd
Hyosung Corp
Jiangsu Xingda Steel Tyre Cord Co. Ltd
Saarstahl
Shandong Hualian Group Co. Ltd
Sumitomo Electric Industries Ltd
Tokusen Kogyo Co. Ltd
Tokyo Rope Mfg. Co. Ltd
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Type
Brass Coated
Zinc Coated
Copper Coated
Others
By Application
Passenger Vehicle Tires
Commercial Vehicle Tires
Two-Wheeler Tires
Aircraft Tires
Industrial Tires
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Global Steel Tire Cord Market Size is valued at $5.6 Billion in 2024 and is forecast to register a growth rate (CAGR) of 3.1% to reach $7.1 Billion by 2032.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
Bekaert, Bridgestone (SHENYANG) Steelcord Co. Ltd, Henen Hengxing Technology Co. Ltd, HL Group Ltd, Hyosung Corp, Jiangsu Xingda Steel Tyre Cord Co. Ltd, Saarstahl, Shandong Hualian Group Co. Ltd, Sumitomo Electric Industries Ltd, Tokusen Kogyo Co. Ltd, Tokyo Rope Mfg. Co. Ltd
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2032; Currency: Revenue (USD); Volume