Single End Cord Market REPORT OVERVIEW
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The global single end cord market size is expected to be USD 271 million in 2022 and market is projected to touch USD 399.17 million by 2031, exhibiting a compound annual growth rate (CAGR) of 4.4% during the projected period.
Single end cord refers to treated cables that are stored on a spindle as single ends rather than on a roll, as cloth is. This is commonly found in automobile tyres and hoses. Polyamide cord as well as polypropylene cord, among others, are examples of single-end cord for automobile.
Tire cords with a single end are constructed or build-up using diversification of synthetic or artificial yarns such as nylon, polyurethane, aramid, and rayon. These threads are knotted into single or multi-ply cords before being cured to the physical qualities specified by the customer. Single end tyre cords have a high snapping toughness or tenacity and low creep, resulting in good driving stability.
RFL, resorcinol-formaldehyde-latex (chemical system used to bond polyester or nylon to rubber) coating is applied to the tyre cords to improve adherence to the rubberized substrate.
COVID-19 Impact: Supply and Lockdown Limitations to Impede Market Advancement
Beginning in 2021, the COVID-19 illness spread around the globe, affecting countless people in general, and major governments across the world issued orders for work stoppages and foot restrictions. Most initiatives have been seriously impacted, with the exception of the groups that provide medical products and life support equipment. Car manufacturing activity was briefly halted or suspended as a result of the lockout, which had a significant impact on the market's application programming interface. The single end cord market was ultimately significantly impacted by restrictions connected to fewer manufacturing activities, a more constrained supply chain, a reduced proportion of employees, and closures.
Single end cord market growth is predicted to rise as a result of growing demand and rising application areas in electric-vehicle systems.
LATEST TRENDS
"Expansion of Hybrid Single End Tire Cord to Stimulate Market Development "
The hybridized single end tire cord is growing in popularity due to its great durability and other benefits. The production of hybrid single-end tire cords, the much more common of which is a mixture of aramid with nylon66. This cord has a max tensile ratio, which increases fuel efficiency and allows it to endure the high temperatures produced by performance tires. Polyester tire cords may also be made with high modulus lower compressive or shrinkage yarns for improved strength properties during operation.
The market is expected to grow at a rapid rate throughout the forecast period because to improvements in the cord and installation effectiveness.
Single End Cord Market SEGMENTATION
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- By Type
Based on type; the market is divided into polyester cord and nylon cord.
Polyester cord type is the leading part of the type segment.
- By Application
Based on the application; the market is divided into conveyor belts, hose, tire, and others.
Conveyor belts is the leading part of the application segment.
DRIVING FACTORS
"Expanding Application Areas in Light-Duty Cars to Aid Market Expansion "
International car production or manufacturing process has increased in recent years as vehicle demand has increased, notably for light-duty cars. Vehicle sales are growing owing to the increasing automotive sales. These factors have indirectly fuelled the global single end cord market for the automobile sector. The requirement for the material is anticipated to rise with the expanding application areas in vehicles.
"Good Adhesion and Mechanical Resistance Properties to Foster Industry Progress "
Owing to its low cost, polyester is frequently utilized in the mass manufacturing of passenger automobile tires. Furthermore, single end cord for automotive is becoming more popular due to its great strength. Rayon tire cord textiles are primarily utilized in the manufacture of high-speed automobile tires. These tires are designed for performance and have a high replacement rate. As a result, the rising popularity of high-performance automobiles is projected to fuel demand for the advanced material throughout the forecast period. The industry is growing as metal chains in tyres are being replaced by belts to reduce CO2 emissions. The cords mechanical resistance and good adhesion ability, as well as increased employment in a wide range of utilization such as automobile hoses, tyres, and industrial hosepipes, are propelling market growth.
Product demand is expected to be driven by growing demands for passenger cars in developing countries, as well as increased demand for long-lasting fuel-efficient tyres over the forecast period. The growing popularity of electric vehicles is expected to drive up demand. The expansion of the automobile sector is expected to increase demand for tyres and tyre parts or components such as single end cord during the forecast period.
RESTRAINING FACTORS
"Difficult Installation Procedures to Hinder Market Advancement "
Installation of the advanced material is difficult. Each installation must be carefully planned and executed, which calls for a team of experts with extensive installation experience. During the anticipated period, the market share is anticipated to be hindered by difficult installation procedures and the creation of complicated hybrid single end cord.
Because, the installation calls for skilled personnel, the cost of installation is expensive. In addition, this advanced material requires a lot of maintenance and therefore qualified personnel are needed for the job. It is projected that difficult installation procedure and maintenance costs will impede market expansion.
Single End Cord Market REGIONAL INSIGHTS
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"Increase in Automobile Manufacturing to Foster Market Advancement in Asia Pacific "
Asia Pacific is likely to be the speediest market with regard of value throughout the forecast period. The expansion is connected to an increase in automobile manufacturing in emerging economies of Asia-Pacific region. The availability of major raw resources such as natural rubber in the region, combined with a significant growth in passenger vehicle needs over the last decade, has been mainly responsible for the expansion of single end cord market share.
The key force driving market expansion is expanding demand for long-lasting, energy-saving tyres. Furthermore, increased passenger car demand in Asia-Pacific is expected to fuel significant demand for radial tyres and, by extension, tyre cord textiles all through the projection period. Electric car tyres degrade around 30% more quickly than standard vehicle tyres. As a result, manufacturers are turning to innovative materials like aramid fibres to make wear-resistant tyres for the electric vehicle market. As a result, increased sales of electric vehicles are expected to have a positive impact on the cord demand over time.
KEY INDUSTRY PLAYERS
"Prominent Players in the Industry to Promote Market Expansion "
The industry's growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other criteria considered for this market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact.
List of Market Players Profiled
- Mehler (Germany)
- Glanzstoff (Germany)
- Kordsa (U.S.)
- SKS Textiles (India)
- Tejin (Japan)
- Qingdao Tipont Cord Co., Ltd (China)
- Zhejiang Unifull (China)
- SANWU TEXTILE CO., LTD. (China)
- Sanlux (China)
- Cordus (U.S.)
- Shakti Cords (India)
- Wujiang Hongda (China)
- Nantong Heming (China)
- Shandong Helon Polytex (China)
- Shenyang Chenyu (China)
REPORT COVERAGE
The study examines the market's demographics, COVID-19 implications, size and growth, categorization, geographical and country subdivisions, competitive landscape, share prices, trends, and strategies in depth. Furthermore, it charts the market's evolution over time and forecasts regional market growth. It contrasts the single end cord market to others and situates it within the bigger market.
The report also examines the equipment market's current state of development and its overall market trend. It also separates the market by categories based on type and applications in order to conduct a detailed study and demonstrate the industry's characteristics and prospects. By taking into account a range of elements, such as growth rate, trends, industrial advancements, technologies, growth, distribution, and barriers, it offers a thorough assessment as well as a detailed analysis. If the significant competitors or the predicted assessment of market dynamics change, the analysis would need to be updated. In terms of production, this study looked at consumption, manufacturing, annual growth, and share prices of manufacturers.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 271 Million in 2022 |
Market Size Value By |
US$ 399.17 Million by 2031 |
Growth Rate |
CAGR of 4.4% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Segments Covered |
Types & Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the single end cord market expected to touch by 2031?
Based on our research, the global single end cord market is projected to touch USD 399.17 million by 2031.
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What CAGR is the single end cord market expected to exhibit by 2031?
The single end cord market is expected to exhibit a CAGR of 4.4% by the forecasted year 2031.
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What are the driving factors of the single end cord market?
Expanding application areas in automotive sector and expansion of hybrid single end tire cord to drive the single end cord market.
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Which are the top companies operating in the single end cord market?
Mehler, Glanzstoff, Kordsa, SKS Textiles, Tejin, Qingdao Tipont Cord Co., Ltd, Zhejiang Unifull, SANWU TEXTILE CO., LTD., Sanlux, Cordus, Shakti Cords, Wujiang Hongda, Nantong Heming, Shandong Helon Polytex, Shenyang Chenyu are the top companies operating in the single end cord market.