Tire Cord and Tire Fabrics Market to Rise with 4.9% CAGR Due to Increased Demand for Automotive
The global tire cord and tire fabrics market is expected to be highly consolidated due to presence of very few companies delivering significant results and highest revenues. The small firms in the market are anticipated to face strong challenge from the well-established companies, leading the market. The major reason behind it is they offer comparatively cheaper product alternatives. These key companies generally bank upon their goodwill and supply agreements in the market to progress. Hyosung Corporation, Kordarna Plus A.S., Cordenka GmbH & Co. KG, Kolon Industries, SRF Ltd., Tokusen USA, and Kordsa Global are some of the key players in the global tire cord and tire fabrics market. According to the analyst at Transparency Market Research, “If demand for tire cord and fabrics rises at a lower rate than capacity addition, even the large players stand a chance of losing their profitability marginally.” The market is estimated to grow at a CAGR of 4.9% within the foreca...