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Steel Cord Market Is Driven By Rise In Demand From Automotive Industry And Emergence Of New Trends In The Tire Industry Till 2023 | Million Insights

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Steel Cord Market Is Driven By Rise In Demand From Automotive Industry And Emergence Of New Trends In The Tire Industry Till 2023 | Million Insights

August 05
21:32 2019
Steel Cord Market Is Driven By Rise In Demand From Automotive Industry And Emergence Of New Trends In The Tire Industry Till 2023 | Million Insights

Million Insights – World’s Fastest Growing Market Research Database
According to new report available with Million Insights, the market is driven by rise in demand from automotive industry and emergence of new trends in the tire industry. Technological enhancement in tire industry also witnesses a positive traction. Other technologies such as flat run tires, eco tires, and nitrogen tires are anticipated in significant market development.

The Global Steel Cord Market is anticipated to grow at a CAGR of 4.2% in the forthcoming period. Steel cord possesses excellent strength and flexibility and is used in various verticals for numerous applications. For instance, it is used as a reinforcing material for conveyor belts and automotive tires. 

As a strand of fine wires of steel, called “filaments”, the steel cord is significantly used for automobile tires. Advantages such high thermal resistance and enhanced traveling performance advantage the significance of steel cord for automotive industry. The market for steel cords is highly influenced by the number of market entrants in the automobile industry. Since it also deals with mileage performance and the reveals the need for lighter tires, steel cords find a suitable use in the automobile sector. 

Full Research Report On Global Steel Cord Market Analysis available at: https://www.millioninsights.com/industry-reports/steel-cord-market

The market is driven by rise in demand from automotive industry and emergence of new trends in the tire industry. Technological enhancement in tire industry also witnesses a positive traction. Other technologies such as flat run tires, eco tires, and nitrogen tires are anticipated in significant market development. Product segmentation for steel cord market includes zinc coated, and brass coated cords. Application segment for steel cord market comprises heavy equipment tires, cargo truck tires, conveyor belts, rubber framework and light truck tires.

Geographical segmentation for market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific regions are likely to account for a significant market share owing to change in consumer lifestyle and rise in disposable income. Increase in R&D activities and entry of new market entrants are likely to propel the regional market growth. European regions are likely to gain a steady yet stable market growth owing to moderate demand for steel cords in the automotive industry.

The key players profiled in the steel cord market report include Michelin, Tokyo Rope Mfg Co Ltd, Sodetal, Bridgestone, XINGDA, Junma, Tesc, Jesc, Goodyear, DuPont, Bekaert, Kordsa Global, Hyosung, Tenheng and HengXing.

Request for Free Sample Copy at: https://www.millioninsights.com/industry-reports/steel-cord-market/request-sample

Market Segment:

Key Applications
• Passengers Cars
• Commercial Vehicles

Key Regions
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America

Key Vendors
• Bekaert
• ArcelorMittal
• Kiswire
• Tokyo Rope
• Hyosung
• Tokusen
• Bridgestone
• Jiangsu Xingda
• Shandong SNTON
• request free sample to get a complete list of companies

Key Questions Answered in this Report
• What will the market size be in 2023?
• What are the key factors driving the global steel cord market?
• What are the challenges to market growth?
• Who are the key players in the steel cord market?
• What are the market opportunities and threats faced by the key players?

Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/chemicals-and-materials

About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive marketplace that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

For More Information: www.millioninsights.com

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