The Nylon Dipped Tire Cord Market refers to the market for a type of reinforcement material used in the production of high-quality tires. Nylon dipped tire cords are made by coating a nylon filament with a thin layer of rubber. This process creates a strong, flexible, and durable material that is ideal for use in tire manufacturing.
The global nylon dipped tire cord market was valued at US$ 2.6 billion in 2022 and is expected to grow at a CAGR of 6.4% from 2021 to 2026, according to a report by Persistence Market Research. The report attributes the growth to the increasing demand for high-performance tires, the growth of the automotive industry, and the rising demand for eco-friendly tires.
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The market can be segmented based on application, type, and geography.
By application, the market can be divided into passenger cars, light commercial vehicles, heavy commercial vehicles, and others. The passenger cars segment is expected to dominate the market due to the increasing demand for fuel-efficient and eco-friendly cars.
By type, the market can be segmented into nylon 6 and nylon 66. Nylon 6 is expected to dominate the market due to its excellent properties, such as high tensile strength and good abrasion resistance. By geography, the market can be segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Asia-Pacific is expected to be the largest market due to the presence of major tire manufacturers in countries such as China, India, and Japan.
The key players operating in the nylon dipped tire cord market include Hyosung Corporation, Kordsa Global, Kolon Industries, Inc., SRF Limited, and Indorama Ventures Public Company Limited. These companies are focusing on expanding their product portfolios, investing in research and development activities to launch innovative and eco-friendly products, and entering into strategic partnerships and collaborations to increase their market share.
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