[Online Quarterly Update] Global nylon tire yarn demand is projected to grow at a healthy CAGR of 3.19% during the forecast period. Nylon tire yarn is basically a synthetic yarn that is light weight, soft, and has high tensile strength and durability. There are several grades of nylon tire yarn available including dried filament yarn, greige fabric yarn, dipped fabric yarn. Nylon tire yarn is used to make cord fabrics that are embedded in a layer of rubber all round the tire. In the process of production of nylon tire yarn dried chips are fed into the melt spinning machines. The molten polymer is filtered before entering the spinneret (a wheel or plate with many tiny holes) to form yarn of different linear density as per specifications. Fibres of different length and thickness are drawn at different speeds and are made by using holes of different diameters. The filaments are coated with water & oil to ensure dimensional stability, then they are air quenched and solidified, offering outstanding tensile strength and low shrinkage under heated conditions, as well as high elasticity. Owing to its strength imparting properties, nylon tire yarn finds application in different types of automotive including personal, commercial and heavy duty automotive. Growing demand of automotive globally coupled with the increasing per capita income in emerging economies is expected to drive the demand of nylon tire yarn during the forecast period. Moreover, companies are broadening their product portfolio by the help of mergers and acquisitions for e.g., Indorama Ventures Company Limited (IVL) acquired Kordarna Plus S.A. This is going to create opportunities in the nylon tire yarn industry during the forecast period.
Owing to the impact of COVID-19, nylon tire yarn demand has declined drastically due to nationwide lockdowns and subsequent disruptions in supply chains. Automotive demand took a serious hit during the pandemic because of factory shutdowns and hence the demand for nylon tire yarns also faced demand decline during the period. However overall good demand growth has been observed in China from the manufacturing sector due to continuation of production activities after the lockdowns.
Region wise, Asia Pacific region holds the major share of global demand for nylon tire yarn due to growing demand for high performance tire fabrics and automotive. With China being the hub of automotive in the Asia Pacific, many companies have set up their manufacturing plants in China thereby increasing the overall production capacity in the Asia Pacific. Increasing population and per capita income in emerging economies is another factor propelling demand growth for nylon tire yarn in Asia Pacific.
Years considered for this report:
Historical Period: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2030
Objective of the Study:
•To assess the demand-supply scenario of nylon tire yarn which covers production, demand and supply of nylon tire yarn market globally.
•To analyse and forecast the market size of nylon tire yarn .
•To classify and forecast global nylon tire yarn market based on technology, end-use and regional distribution.
•To identify drivers and challenges for global nylon tire yarn market.
•To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global nylon tire yarn market.
•To identify and analyse the profile of leading players involved in the manufacturing of nylon tire yarn.
Major players for nylon tire yarn globally include BASF SE, Centuryenka, SRF, Starpolyrubber, Kolon Industries, Toray, and Others.
To extract data for global nylon tire yarn market, primary research surveys were conducted with nylon tire yarn manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global nylon tire yarn market over the coming years.
ChemAnalyst calculated nylon tire yarn demand globally by analyzing the historical data and demand forecast which was carried out considering imported nylon tire yarn, prices, materials used for production of nylon tire yarn . ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• nylon tire yarn manufacturers and other stakeholders
•Organizations, forums and alliances related to nylon tire yarn distribution
•Government bodies such as regulating authorities and policy makers
•Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as nylon tire yarn manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, global nylon tire yarn market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, by Grade
Dried Filament Yarn, Greige Fabric Yarn, Dipped Fabric Yarn
Market, by Application
Personal, Commercial and Heavy Duty Automotive
Market, by Sales Channel
Direct Company Sale, Direct Import, Distributors & Traders, Retailers
Market, by Region
North America, APAC, Europe, MEA, South America
With the given market data, Chemanalyst offers customizations according to a company’s specific needs.
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