Tire Reinforcement Materials Market Grow at CAGR 3.53% by 2017-2025 - PowerPoint PPT Presentation

Title: Tire Reinforcement Materials Market Grow at CAGR 3.53% by 2017-2025


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TIRE REINFORCEMENT MATERIAL MARKET
 
Global Industry Trends, Size, Share Analysis
2017-2025
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Global Tire reinforcement materials market is
anticipated to increase at an estimated CAGR of
3.53 over the forecast period of 2017-2025
Global Tire reinforcement materials market is
anticipated to increase at an estimated CAGR of
3.53 over the forecast period of 2017-2025. The
key factors for the market growth include growth
in automotive industries, economic developments
in the APAC region, and the enhanced properties
of reinforced tires.
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Global tire reinforcement materials market is
segmented on the basis of materials and types.
The materials segment include steel, polyester,
rayon, nylon, etc. The demand for steel materials
in tire reinforcements is fast gaining momentum.
The market segment by type comprises of tire
bead wire and tire cord fabric. The tire cord
fabric segment is leading the market at present.
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Europe
Asia-pacific
North America
North America tire reinforcement material market
was calculated to be worth 3146 million in 2016.
The market is now set to rise at an estimated
CAGR of 2.93, collecting a market share of 4088
million by the end of the forecasted years of
2017-2025.
Asia Pacific tire reinforcement materials market
is forecasted to rise at a CAGR of 3.77 for the
years 2017-2025. The market value is also
estimated to rise from 7436 million in 2016 to
10317 million by 2025.
Europe tire reinforcement market is anticipated
to grow at a CAGR of 2.79, collecting a net
worth of 3309 million over the forecast period
of 2017-2025
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Tire Reinforcement Material Market Forecast
2017-2025
Tire Reinforcement Material Market Forecast
2017-2025 Growing at a
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CAGR 3.53
During the Forecast Period of
Global Tire reinforcement materials market is
anticipated to increase at an estimated CAGR of
3.53 over the forecast period of 2017-2025. The
key factors for the market growth include growth
in automotive industries, economic developments
in the APAC region, and the enhanced properties
of reinforced tires.
2017-2025
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These market players are implementing organic and
inorganic strategies such as partnerships,
mergers, and acquisitions, etc. for their growth.
For example, Toray Industries Inc announced
buying the entire stakes of Zoltek Companies Inc,
a manufacturer of large tow carbon fibers in the
US in February 2016. In the same year, a
successful merger happened between Bekaert and
Ontario Teachers' Pension Plan for their ropes
and advanced cords businesses. Some of the other
important global market players include Century
Enka Limited, Formosa Taffeta Co Ltd, Michelin,
Hyosung Corporation, Toray Industries Inc, Shenma
Industrial Co Ltd, Kolon Industries Inc, Kordsa
Global, and Dupont.
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