The global Steel Cord Market study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments including By Type (High Tensile, Normal Tensile, Others), By Coating (Brass Coated, Zinc Coated), By Application (Aircraft Tires, Cargo Truck Tires, Light Truck Tires, Car Tires, Conveyer Belts, Others).
In 2024, the Steel Cord Market continues to play a vital role in the tire manufacturing industry, supplying essential reinforcement materials that enhance tire strength, durability, and performance. Steel cords are high-strength wire strands made from carbon or stainless steel alloys, which are embedded in tire rubber compounds to provide structural integrity and resistance to deformation under load. With the increasing demand for high-performance tires in automotive, aviation, and industrial applications, steel cords are essential components in ensuring tire safety, stability, and longevity. Manufacturers in this market focus on producing steel cords with precise diameters, tensile strengths, and coatings to meet the stringent requirements of tire manufacturers and end-users. Moreover, advancements in steel cord production technologies, such as multi-wire stranding processes, heat treatment methods, and surface treatments, enhance cord adhesion, fatigue resistance, and corrosion protection. Additionally, customization options such as cord layout, cord angle, and cord spacing allow tire manufacturers to tailor tire performance characteristics such as traction, handling, and tread wear to specific vehicle types and operating conditions. As tire technology continues to advance to meet evolving regulatory standards and consumer expectations for safety and performance, the Steel Cord Market remains integral in providing reliable and innovative solutions that drive the tire industry forward.
The global Steel Cord market is highly competitive with a large number of companies focusing on niche market segments. Amidst intense competitive conditions, Steel Cord Companies are investing in new product launches and strengthening distribution channels. Key companies operating in the Steel Cord Market Industry include- ArcelorMittal S.A., Bridgestone Corp, E. I. du Pont de Nemours and Company, Hyosung Corp, Jiangsu Xingda Steel Cord Co. Ltd, NV Bekaert SA, OJSC Byelorussian Steel Works, Shougang Century Co. Ltd, Tata Group, Tokusen USA Inc, Tokyo Rope MFG Co. Ltd, Usha Martin Ltd.
A significant trend in the Steel Cord Market is the growing demand for high-performance tires, driven by increasing vehicle sales, advancements in tire technology, and the expansion of the automotive industry. High-performance tires, often used in sports cars, luxury vehicles, and commercial trucks, require steel cords as reinforcement materials to enhance strength, durability, and resistance to punctures and high speeds. This trend reflects a shift towards premiumization in the tire market, where consumers prioritize safety, comfort, and performance, thus stimulating the demand for steel cords in tire manufacturing and shaping the evolution of the steel cord market towards higher-quality and specialized products.
A key driver propelling the Steel Cord Market is the growth of the automotive and transportation sectors, which rely heavily on steel cords for tire reinforcement in passenger vehicles, commercial trucks, buses, and off-road equipment. As global population and urbanization continue to rise, so does the demand for automobiles and transportation services, driving the production of tires and, consequently, the demand for steel cords. Additionally, infrastructure development projects, such as road construction and public transportation initiatives, contribute to the demand for tires and steel cords, thus fueling market growth and providing opportunities for steel cord manufacturers to expand their operations and customer base.
An opportunity within the Steel Cord Market lies in the diversification into non-tire applications, such as industrial belting, reinforcement for rubber hoses, and wire ropes for construction and mining industries. While tires remain the primary market for steel cords, expanding into non-tire applications enables manufacturers to mitigate risks associated with fluctuations in tire demand and explore new revenue streams in diverse industries. Moreover, technological advancements and material innovations allow for the development of specialized steel cord products tailored to specific applications, offering higher margins and differentiation opportunities in niche markets. By diversifying their product portfolios and targeting non-tire applications, steel cord manufacturers can optimize their business resilience and capitalize on emerging opportunities in the global industrial market.
By Type
High Tensile
Normal Tensile
Others
By Coating
Brass Coated
Zinc Coated
By Application
Aircraft Tires
Cargo Truck Tires
Light Truck Tires
Car Tires
Conveyer Belts
OthersGeographical Analysis
North America (United States, Canada, Mexico)
Europe (Germany, France, United Kingdom, Spain, Italy, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa
ArcelorMittal S.A.
Bridgestone Corp
E. I. du Pont de Nemours and Company
Hyosung Corp
Jiangsu Xingda Steel Cord Co. Ltd
NV Bekaert SA
OJSC Byelorussian Steel Works
Shougang Century Co. Ltd
Tata Group
Tokusen USA Inc
Tokyo Rope MFG Co. Ltd
Usha Martin Ltd
*- List not Exhaustive
TABLE OF CONTENTS
1 Introduction to 2024 Steel Cord Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Analyzed
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Steel Cord Market Size Outlook, $ Million, 2021 to 2030
3.2 Steel Cord Market Outlook by Type, $ Million, 2021 to 2030
3.3 Steel Cord Market Outlook by Product, $ Million, 2021 to 2030
3.4 Steel Cord Market Outlook by Application, $ Million, 2021 to 2030
3.5 Steel Cord Market Outlook by Key Countries, $ Million, 2021 to 2030
4 Market Dynamics
4.1 Key Driving Forces of Steel Cord Industry
4.2 Key Market Trends in Steel Cord Industry
4.3 Potential Opportunities in Steel Cord Industry
4.4 Key Challenges in Steel Cord Industry
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Steel Cord Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Steel Cord Market Outlook by Segments
7.1 Steel Cord Market Outlook by Segments, $ Million, 2021- 2030
By Type
High Tensile
Normal Tensile
Others
By Coating
Brass Coated
Zinc Coated
By Application
Aircraft Tires
Cargo Truck Tires
Light Truck Tires
Car Tires
Conveyer Belts
Others
8 North America Steel Cord Market Analysis and Outlook To 2030
8.1 Introduction to North America Steel Cord Markets in 2024
8.2 North America Steel Cord Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Steel Cord Market size Outlook by Segments, 2021-2030
By Type
High Tensile
Normal Tensile
Others
By Coating
Brass Coated
Zinc Coated
By Application
Aircraft Tires
Cargo Truck Tires
Light Truck Tires
Car Tires
Conveyer Belts
Others
9 Europe Steel Cord Market Analysis and Outlook To 2030
9.1 Introduction to Europe Steel Cord Markets in 2024
9.2 Europe Steel Cord Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Steel Cord Market Size Outlook by Segments, 2021-2030
By Type
High Tensile
Normal Tensile
Others
By Coating
Brass Coated
Zinc Coated
By Application
Aircraft Tires
Cargo Truck Tires
Light Truck Tires
Car Tires
Conveyer Belts
Others
10 Asia Pacific Steel Cord Market Analysis and Outlook To 2030
10.1 Introduction to Asia Pacific Steel Cord Markets in 2024
10.2 Asia Pacific Steel Cord Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Steel Cord Market size Outlook by Segments, 2021-2030
By Type
High Tensile
Normal Tensile
Others
By Coating
Brass Coated
Zinc Coated
By Application
Aircraft Tires
Cargo Truck Tires
Light Truck Tires
Car Tires
Conveyer Belts
Others
11 South America Steel Cord Market Analysis and Outlook To 2030
11.1 Introduction to South America Steel Cord Markets in 2024
11.2 South America Steel Cord Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Steel Cord Market size Outlook by Segments, 2021-2030
By Type
High Tensile
Normal Tensile
Others
By Coating
Brass Coated
Zinc Coated
By Application
Aircraft Tires
Cargo Truck Tires
Light Truck Tires
Car Tires
Conveyer Belts
Others
12 Middle East and Africa Steel Cord Market Analysis and Outlook To 2030
12.1 Introduction to Middle East and Africa Steel Cord Markets in 2024
12.2 Middle East and Africa Steel Cord Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Steel Cord Market size Outlook by Segments, 2021-2030
By Type
High Tensile
Normal Tensile
Others
By Coating
Brass Coated
Zinc Coated
By Application
Aircraft Tires
Cargo Truck Tires
Light Truck Tires
Car Tires
Conveyer Belts
Others
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
List of Companies
ArcelorMittal S.A.
Bridgestone Corp
E. I. du Pont de Nemours and Company
Hyosung Corp
Jiangsu Xingda Steel Cord Co. Ltd
NV Bekaert SA
OJSC Byelorussian Steel Works
Shougang Century Co. Ltd
Tata Group
Tokusen USA Inc
Tokyo Rope MFG Co. Ltd
Usha Martin Ltd
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Type
High Tensile
Normal Tensile
Others
By Coating
Brass Coated
Zinc Coated
By Application
Aircraft Tires
Cargo Truck Tires
Light Truck Tires
Car Tires
Conveyer Belts
Others
The global Steel Cord Market is one of the lucrative growth markets, poised to register a 5.1% growth (CAGR) between 2024 and 2030.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
ArcelorMittal S.A., Bridgestone Corp, E. I. du Pont de Nemours and Company, Hyosung Corp, Jiangsu Xingda Steel Cord Co. Ltd, NV Bekaert SA, OJSC Byelorussian Steel Works, Shougang Century Co. Ltd, Tata Group, Tokusen USA Inc, Tokyo Rope MFG Co. Ltd, Usha Martin Ltd
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2030; Currency: USD; Volume