Global Rayon Tyre Cord Fabric Market Outlook
Revenue, 2024
Forecast, 2034
CAGR, 2024 - 2034
Rayon tyre cord fabric, a high-performance textile essential in the manufacture of reinforced tyres, boasts of high tensile strength, exceptional adhesion capabilities, and excellent shock resistance. Furthermore, the fabric has been integral in driving safety standards upwards in the automotive industry owing to its pivotal role in enhancing tyre resistance toward high-speed deformation. Resilience under extreme operational conditions and compatibility with other tyre materials are additional features that consolidate its position in the tyre manufacturing industry.
Market Key Insights
- The Rayon Tyre Cord Fabric market is projected to grow from $784.4 million in 2024 to $1.71 billion in 2034. This represents a CAGR of 8.1%, reflecting rising demand across Automotive Industry, Bicycle Tire Manufacturing and Aviation Industry.
Hyosung, Kordsa Teknik Tekstil, and SRF are among the leading players in this market, shaping its competitive landscape.
- China and U.S. are the top markets within the Rayon Tyre Cord Fabric market and are expected to observe the growth CAGR of 5.9% to 8.5% between 2024 and 2030.
- Emerging markets including Thailand, Brazil and South Africa are expected to observe highest growth with CAGR ranging between 7.8% to 10.1%.
Transition like Shift Towards Sustainable Practices is expected to add $128.3 million to the Rayon Tyre Cord Fabric market growth by 2030
- The Rayon Tyre Cord Fabric market is set to add $925 million between 2024 and 2034, with manufacturer targeting Industrial & Bicycle Applications projected to gain a larger market share.
- With
increased consumption in automobile industry, and
technological advancements in manufacturing process, Rayon Tyre Cord Fabric market to expand 118% between 2024 and 2034.
Opportunities in the Rayon Tyre Cord Fabric
Technological also advances have also made it possible to produce rayon tyre cord fabric more efficiently and eco-friendly. A notable area of innovation is also nanotechnology which can also be integrated into the production process to enhance the fabrics performance, durability, and sustainability. This is also poised to further stimulate the market growth of rayon tyre cord fabric.
Growth Opportunities in North America and Asia-Pacific
North America Outlook
The North American market witnesses an increased demand for Rayon tyre cord fabric. This rise is mainly attributed to the robust nature of the automobile industry, technological advancements, and the vigor to achieve better fuel efficiency. Being lighter than its counterparts, yet stronger, makes Rayon tyre cord fabric a preferred choice. The region also features fierce competition among leading players who incorporate innovative technologies, including fabric friction cord enhancements, to gain a competitive edge. Furthermore, the surge in electric vehicle production and growing environmental concerns drive the market’s exponential growth in this region.
Asia-Pacific Outlook
Asia-Pacific offers tremendous growth opportunities for the Rayon tyre cord fabric market. The booming automotive sector, coupled with the presence of top tyre manufacturing countries like China, India, and Japan, forms the backbone of this market. The increasing demand for high-speed tyres is a key driver in the region. Additionally, the entrance of various players in the market intensifies competition, which further propels innovation and development of superior quality Rayon tyre cord fabric. The demand for this material is anticipated to escalate due to stringent emission norms laid down by governments, pushing automakers to opt for lighter tyres to improve vehicle efficiency.
Market Dynamics and Supply Chain
Driver: Increased Consumption in Automobile Industry, and Surge in Demand for Lightweight, Fuel-efficient Tyres
Recent innovations and improvements in the manufacturing process of Rayon tyre cord fabric are also leading to better product quality, fueling its demand. High focus on the production of eco-friendly and sustainable materials is also a strong trend that favors the usage of Rayon in tyre cord fabrics.
Restraint: High Production Cost
Opportunity: Enhanced Automotive Applications and Strategic Collaborations with Tyre Manufacturers
Given the increasing preference for fuel-efficiency and driving comfort, tyre manufacturers are constantly searching for solutions that can deliver on these needs. Rayon tyre cord fabric could be a solution, particularly for premium and luxury vehicles. Therefore, strategic collaborations between tyre manufacturers and providers of this fabric could be a lucrative growth avenue to explore.
Challenge: Competition from Substitute Products
Supply Chain Landscape
Aditya Birla Group
Lenzing AG
Royal Dutch Shell
Eastman Chemical Company
Formosa Chemicals & Fibre Corporation
Alea Jacta Ltd
Michelin
Goodyear Tyre and Rubber Company
Aditya Birla Group
Lenzing AG
Royal Dutch Shell
Eastman Chemical Company
Formosa Chemicals & Fibre Corporation
Alea Jacta Ltd
Michelin
Goodyear Tyre and Rubber Company
Applications of Rayon Tyre Cord Fabric in Automotive , Bicycle Tire Manufacturing & Aviation
The automotive industry is an extensive user of the Rayon tyre cord fabric. Mainly utilized in performance and racing cars, High Modulus Low Shrinkage Rayon tyre cord fabric is favored for its high impact resistance and strength. Major manufacturers in this application sphere include Michelin and Goodyear. These companies leverage the unique advantages of this fabric, such as its excellent adhesion to rubber, superior tensile strength, and resistance to over-flexing, significantly boosting their market position.
In the aviation sector, dipped Rayon tyre cord fabrics are in high demand. These fabrics enhance the durability and robustness required in aircraft tyres. Companies like Bridgestone and Dunlop, primary players in this sector, utilize this fabric to offer superior resistance against extreme temperatures and high-speed landings, thereby supporting efficient aircraft fuel usage and maintaining a strong market position.
The bicycle tire manufacturing industry increasingly relies on Rayon tyre cord fabric. Verospeed tailored Rayon tyre cord fabric is a commonly used material in this segment, offering a precise balance between weight, grip, and puncture resistance. Manufacturers such as Vittoria and Schwalbe capitalize on the fabrics low rolling resistance and controlled deformation benefits, fortifying their position in the market.
Recent Developments
Technology advancement in rayon tyre cord fabric appeared in the market. The leading provider, Milliken & Company, announced the successful development of high-strength rayon tyre cord fabric, significantly improving tyre performance
Goodyear Tyre announced a strategic partnership with Hyosung Corporation to exclusively manufacture rayon tyre cord fabric, enhancing the robustness and sustainability of their tyre models
The rayon tyre cord fabric market witnessed a surge as Continental AG positioned itself as an industry leader by launching a new range of eco-friendly tyres equipped with advanced rayon tyre cord fabric technology, significantly reducing tyre weight and improving fuel efficiency.
Rayon tyre cord fabric, a paramount constituent in the automotive tyre industry, has seen substantial market developments in recent times due to its exceptional strength and distinct durability. Of particular note is a burgeoning trend towards environment-friendly manufacturing processes, which is precipitously shaping the landscape of the Rayon tyre cord fabric industry.