China. Latin America and the Middle East are also anticipated to witness the increase in demand for steel cord, due to risen automotive production in the two regions.
With the current research and development activities, the industry is expected to experience the introduction of new designs and processes, which would ensure enhanced performance of tires. Efforts are focused not only on minimizing the rolling friction but also on ensuring that the tire holds a firm grip on the ground. Incidences of road accidents too play an important role in growth of the steel cords market. Leading tire manufacturers are looking for design solutions to meet the safety and comfort requirements of vehicles. Technologies such as flat run tires, eco tires, and nitrogen tires are further driving the steel cords market, due to the demand for specialized materials for strengthening the tires and their sidewalls.
Tire manufacturers that are potential users of tire reinforcement materials such as steel cords include Goodyear, Dunlop, and Bridgestone. Manufacturers for tire reinforcement materials include Bekaert, DuPont, Hyosung, and Kordsa Global.
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