Steel Cord Market Size, Share, Growth, and Industry Analysis, By Type (Normal Tensile (NT),High Tensile (HT),Super Tensile (ST),Ultra Tensile (UT)), By Application (Freight Car Use,Passenger Car Use,Others), Regional Insights and Forecast to 2035

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STEEL CORD MARKET OVERVIEW

Global Steel Cord market size is estimated at USD 5.735 billion in 2026 and expected to rise to USD 9.125 billion by 2035, experiencing a CAGR of 5.3%.

The Steel Cord Market is closely associated with global tire reinforcement demand, where steel cord is used in more than 90% of radial tires manufactured worldwide. Steel cords consist of multiple high-carbon steel filaments, generally ranging between 0.15 mm and 0.40 mm in diameter, twisted into strands to enhance tire durability and strength. In 2024, global tire production exceeded 2.5 billion units, and approximately 75% of these tires incorporated steel cord reinforcement. The Steel Cord Market Analysis highlights that more than 65% of steel cord demand originates from automotive tire applications, while industrial belts and hoses contribute nearly 20% of total usage. The Steel Cord Industry Report also indicates that over 45 million metric tons of tire reinforcement materials are consumed annually, positioning steel cord as one of the most critical reinforcement materials in modern tire manufacturing.

The USA represents a significant share of the global Steel Cord Market Size due to its large automotive production and tire manufacturing capacity. In 2024, the United States produced more than 10.6 million vehicles, while tire manufacturing output exceeded 320 million units annually across over 45 major tire production facilities. Approximately 85% of passenger vehicle tires manufactured in the USA utilize steel cord reinforcement. The Steel Cord Market Research Report indicates that over 70% of domestic steel cord consumption is linked to passenger and freight vehicle tires. Additionally, the country imports nearly 30% of its steel cord supply from Asia and Europe. Industrial conveyor belts and heavy-duty mining tires account for approximately 12% of steel cord consumption in the USA Steel Cord Industry Analysis.

KEY FINDINGS OF STEEL CORD MARKET

• Key Market Driver: Approximately 78% of steel cord demand growth is associated with tire manufacturing expansion, while 64% of heavy-duty truck tires utilize steel cord reinforcement, and nearly 72% of global tire manufacturers increased steel cord usage to enhance durability and load-bearing performance.

• Major Market Restraint: Around 41% of steel cord manufacturers report raw material volatility impacting production, while 36% of producers experience supply disruptions in high-carbon steel wire, and nearly 33% of tire manufacturers face cost pressures related to steel wire procurement.

• Emerging Trends: Nearly 57% of steel cord producers are developing ultra-high tensile products, while 49% of tire manufacturers are adopting lighter reinforcement materials, and around 52% of new tire designs incorporate advanced steel cord structures.

• Regional Leadership: Asia-Pacific accounts for approximately 63% of global steel cord production capacity, followed by Europe with nearly 18%, North America with 11%, and other regions contributing around 8% of the Steel Cord Market Share.

• Competitive Landscape: More than 55% of the Steel Cord Industry is controlled by the top 10 manufacturers, while 32% of production capacity belongs to Asian companies and nearly 23% of supply originates from European producers.

• Market Segmentation: High tensile steel cords account for approximately 44% of global demand, normal tensile holds around 28%, super tensile contributes 18%, and ultra tensile products represent nearly 10% of the Steel Cord Market Growth segments.

• Recent Development: Approximately 46% of steel cord manufacturers introduced new tire reinforcement designs between 2023 and 2025, while 38% expanded production facilities and nearly 31% upgraded wire drawing technology to improve tensile strength.

LATEST TRENDS

The Steel Cord Market Trends indicate a strong shift toward high-performance reinforcement materials used in radial tires and heavy-duty vehicle tires. More than 85% of newly manufactured passenger vehicle tires globally are radial tires, all of which rely on steel cord reinforcement layers to provide durability and structural integrity. In addition, approximately 72% of truck and bus tires utilize multi-strand steel cord belts to withstand heavy loads exceeding 3.5 tons per axle. Another significant Steel Cord Market Insight is the growing adoption of ultra-high tensile steel cord, which provides tensile strength exceeding 3,000 MPa. Around 48% of tire manufacturers have begun integrating these advanced materials to reduce tire weight while maintaining structural strength. Reducing tire weight by 10% to 15% can improve fuel efficiency by nearly 3% to 5%, making lightweight reinforcement materials increasingly important.

Automation in steel cord manufacturing is also transforming the Steel Cord Industry Analysis. Modern wire drawing machines can produce more than 1,200 meters of steel filament per minute, improving productivity and consistency. Approximately 60% of large steel cord manufacturing facilities now operate with automated quality inspection systems. Electric vehicle expansion is another emerging factor in the Steel Cord Market Outlook. EV tires experience approximately 20% higher torque loads, increasing demand for stronger reinforcement materials. As global EV production surpassed 14 million units in 2024, tire manufacturers are increasingly adopting high-strength steel cords capable of supporting heavier battery loads ranging from 350 kg to 600 kg per vehicle.

STEEL CORD MARKET DYNAMICS

Driver

Rising demand for automotive tires and vehicle production

The Steel Cord Market Growth is strongly driven by increasing global vehicle production and tire manufacturing demand. In 2024, global vehicle production exceeded 93 million units, including approximately 70 million passenger cars and 23 million commercial vehicles. Each passenger vehicle requires an average of 4 to 5 tires, while heavy-duty trucks can require between 10 and 18 tires, significantly increasing demand for reinforced tire components. Steel cord is used in more than 90% of radial tires, making it a critical reinforcement material. Global tire production surpassed 2.5 billion units annually, with nearly 75% of these tires incorporating steel cord belts. Additionally, approximately 65% of steel cord consumption is associated with the tire replacement market due to tire lifespans averaging 40,000 to 60,000 kilometers. The growth of SUVs, which represented nearly 46% of global passenger vehicle sales in 2024, also increases the demand for stronger tire reinforcement materials capable of supporting heavier vehicle weights.

Restraint

Volatility in raw material supply and high-carbon steel prices

The Steel Cord Market faces significant restraints due to fluctuations in the supply and pricing of high-carbon steel wire rods used in steel cord production. Steel cords typically require steel containing 0.70% to 0.85% carbon, which represents a small portion of the overall steel industry. Although global crude steel production exceeded 1.9 billion metric tons in 2023, high-carbon steel suitable for wire rod manufacturing accounts for less than 3% of total production, creating supply limitations. Manufacturing steel cords also involves multiple energy-intensive processes such as heat treatment at temperatures exceeding 900°C and high-speed wire drawing operations that can reach 1,000 meters per minute. Rising electricity costs and energy consumption affect more than 40% of steel cord manufacturing facilities worldwide. In addition, approximately 35% of tire manufacturers reported supply chain disruptions between 2022 and 2024, which slowed production schedules and increased procurement challenges for reinforcement materials used in tire manufacturing.

Expansion of electric vehicles and high-performance tires

Opportunity

The Steel Cord Market Opportunities are expanding due to rapid adoption of electric vehicles and increasing demand for high-performance tires. Electric vehicles typically weigh between 1,800 kg and 2,500 kg, which is approximately 20% heavier than conventional internal combustion vehicles due to large battery packs weighing between 350 kg and 600 kg. This increased vehicle weight requires tires with stronger reinforcement materials capable of handling higher load capacity and torque levels.

Electric vehicles can generate up to 30% higher torque output, which increases stress on tire belts and reinforcement layers. Global electric vehicle production exceeded 14 million units in 2024, and this number continues to rise as governments expand electrification policies. Additionally, the growing popularity of SUVs and high-performance vehicles, which accounted for nearly 36 million units globally, requires larger tires ranging from 17 inches to 22 inches. These tires demand advanced high tensile and ultra tensile steel cords capable of supporting loads exceeding 3,000 kg per tire.

Increasing competition from alternative reinforcement materials

Challenge

One of the major challenges affecting the Steel Cord Market Outlook is the growing competition from alternative reinforcement materials such as aramid fibers, polyester cords, and hybrid synthetic reinforcements. These materials offer advantages in weight reduction and flexibility, which are important in high-performance tire designs. For example, aramid fiber reinforcement can reduce tire weight by approximately 8% to 12% compared with traditional steel cord structures. This reduction can improve vehicle fuel efficiency by nearly 3% to 5%. Between 2020 and 2024, global production of synthetic tire reinforcement fibers increased by nearly 22%, reflecting growing adoption by premium tire manufacturers.

Approximately 14% of high-performance tires currently use hybrid reinforcement layers combining steel cords with synthetic fibers to improve durability and reduce overall tire mass. While steel cords still dominate with nearly 75% of global tire reinforcement applications, technological advancements in synthetic materials continue to challenge traditional steel cord dominance in certain specialized tire segments.

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STEEL CORD MARKET SEGMENTATION

By Type

• Normal Tensile (NT): Normal Tensile steel cords typically exhibit tensile strength levels between 2,000 MPa and 2,400 MPa, making them suitable for standard passenger vehicle tires. NT steel cords represent approximately 28% of global Steel Cord Market Share. These cords usually contain 5 to 7 filaments per strand, each filament measuring approximately 0.20 mm to 0.30 mm in diameter. Passenger vehicles produced in emerging economies often use NT steel cords due to lower production costs. Nearly 42% of tires manufactured in developing regions incorporate NT steel cord reinforcement. Additionally, NT steel cords are widely used in smaller tire sizes ranging between 13 inches and 16 inches, which account for approximately 37% of global passenger vehicle tires.

• High Tensile (HT): High Tensile steel cords are one of the most widely used reinforcement materials in modern tire manufacturing. With tensile strengths exceeding 2,600 MPa, HT cords provide improved durability and resistance to fatigue. HT products account for approximately 44% of total Steel Cord Market Size, making them the largest segment. Most modern radial tires utilize HT steel cords in belt layers to enhance stability and handling. Approximately 70% of premium passenger vehicle tires use HT reinforcement. Filament diameters typically range between 0.15 mm and 0.25 mm, allowing tire manufacturers to reduce weight while maintaining structural strength.

• Super Tensile (ST): Super Tensile steel cords provide tensile strengths exceeding 3,000 MPa, enabling improved durability and load-bearing capacity. ST cords hold nearly 18% of the global Steel Cord Market Share and are widely used in high-performance tires and heavy-duty commercial vehicle tires. Truck and bus tires using ST steel cords can support loads exceeding 4,000 kg per tire, making them suitable for long-distance freight transport. Approximately 60% of heavy-duty truck tires incorporate ST steel cords in their belt layers. These cords typically contain 7 to 9 filaments per strand.

• Ultra Tensile (UT): Ultra Tensile steel cords represent the most advanced reinforcement materials, offering tensile strengths above 3,500 MPa. Although they account for only 10% of the Steel Cord Market Growth, their adoption is increasing rapidly in electric vehicles and ultra-high-performance tires. UT steel cords allow tire manufacturers to reduce reinforcement weight by approximately 15%, improving fuel efficiency and performance. These cords are commonly used in tires larger than 19 inches, which represent nearly 22% of premium vehicle tires globally.

By Application

• Freight Car Use: Freight vehicle tires account for approximately 34% of total Steel Cord Market demand. Heavy-duty trucks require tires capable of supporting loads exceeding 18 tons per vehicle, making steel cord reinforcement essential. A typical freight truck uses between 10 and 18 tires, each containing multiple steel cord layers. Global truck production exceeded 4.5 million units annually, contributing significantly to steel cord consumption. Truck tires often contain between 1.2 kg and 2.5 kg of steel cord per tire.

• Passenger Car Use: Passenger vehicle tires represent the largest application segment, accounting for nearly 58% of global Steel Cord Market Share. Passenger cars typically require 4 to 5 tires, with tire diameters ranging between 14 inches and 20 inches. Approximately 1.7 billion passenger vehicle tires are produced annually worldwide. Steel cord belts enhance tire stability and prevent deformation at speeds exceeding 120 km/h. Passenger vehicle tire replacement cycles average 4 years, contributing to sustained steel cord demand.

• Others: Other applications account for approximately 8% of the Steel Cord Market Outlook, including conveyor belts, mining equipment tires, agricultural machinery tires, and industrial hoses. Conveyor belts used in mining operations can reach lengths exceeding 10 kilometers, often reinforced with steel cords to support loads exceeding 10,000 tons per hour. Mining haul trucks, which can weigh more than 400 tons, use large off-the-road tires reinforced with heavy steel cords. These specialized tires often measure 3.5 meters in diameter, requiring substantial reinforcement materials.

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STEEL CORD MARKET REGIONAL OUTLOOK

• North America

The North America Steel Cord Market accounts for approximately 11% of global steel cord consumption, supported by strong automotive production and tire manufacturing infrastructure. In 2024, the region produced more than 15 million vehicles, including nearly 10.6 million vehicles in the United States, 2.1 million in Canada, and over 3 million in Mexico. Tire manufacturing capacity across North America exceeds 350 million units annually, with more than 70 tire manufacturing facilities operating across the region.

Around 88% of passenger vehicle tires manufactured in North America use steel cord reinforcement due to the widespread adoption of radial tire technology. The region also has more than 13 million heavy-duty trucks operating in freight transportation, each requiring between 10 and 18 tires, increasing demand for steel cord-reinforced tires. Additionally, replacement tire demand represents nearly 62% of total tire sales in the region, driven by average vehicle travel distances exceeding 20,000 kilometers per year, which further supports steady steel cord consumption.

• Europe

Europe holds approximately 18% of the global Steel Cord Market Share, driven by advanced automotive manufacturing and premium tire production. The region produces nearly 16 million vehicles annually, with major automotive hubs in Germany, France, Spain, Italy, and the United Kingdom. Germany alone manufactures more than 3.7 million vehicles per year, making it one of the largest automotive producers in Europe. Tire production in Europe exceeds 400 million units annually, with more than 90% of passenger vehicle tires using steel cord reinforcement.

Premium and high-performance tire segments represent nearly 55% of tire production in Western Europe, increasing demand for high tensile and super tensile steel cords capable of withstanding high speeds exceeding 200 km/h. In addition, commercial transportation fleets across Europe include more than 6 million heavy trucks, each requiring steel cord reinforced tires designed for long-distance transport exceeding 100,000 kilometers per year, which significantly contributes to the region’s steel cord consumption.

• Asia-Pacific

Asia-Pacific dominates the global Steel Cord Market with approximately 63% of global production and consumption, primarily due to large automotive manufacturing hubs in China, Japan, South Korea, and India. China alone produced more than 30 million vehicles in 2024, representing nearly 32% of global vehicle production. The region also manufactures more than 1.6 billion tires annually, accounting for nearly 65% of global tire production capacity. Over 120 steel cord manufacturing plants operate across Asia-Pacific, with China contributing approximately 55% of global steel cord production capacity.

Japan and South Korea also play significant roles, producing advanced high-tensile steel cord products for premium tire applications. India’s automotive industry produced nearly 5 million vehicles annually, and its tire production capacity exceeds 450 million tires per year. Additionally, increasing demand for commercial vehicles, which represent nearly 24% of total vehicle production in Asia-Pacific, significantly boosts steel cord demand for heavy-duty truck and bus tires.

• Middle East & Africa

The Middle East & Africa Steel Cord Market represents approximately 8% of global demand, driven mainly by mining, construction, and transportation sectors. Although regional vehicle production remains relatively limited at around 1.2 million vehicles annually, tire imports exceed 150 million units per year to support transportation and industrial activities. The mining sector in countries such as South Africa, Zambia, and the Democratic Republic of Congo uses large off-the-road tires reinforced with steel cord to support heavy machinery and mining trucks weighing more than 300 tons. These mining trucks use tires measuring up to 3.5 meters in diameter, each containing several kilograms of high-strength steel cord reinforcement.

In the Middle East, construction projects and logistics activities rely heavily on heavy-duty trucks and industrial vehicles. The region operates more than 4 million commercial vehicles, many of which use steel cord reinforced tires designed to withstand extreme temperatures exceeding 45°C and heavy loads exceeding 20 tons per vehicle, increasing steel cord consumption.

LIST OF TOP STEEL CORD COMPANIES

• Bekaert
• Jiangsu Xingda Steel Cord
• ArcelorMittal
• Hyosung
• Shandong SNTON Steel Cord
• Bridgestone
• Shougang Century
• Tokusen
• Tokyo Rope MFG
• Hubei Fuxing New Material
• BMZ
• Henan Hengxing
• Junma Tyre Cord
• Sumitomo Electric Industries
• Sodetal

Top Two Companies By Market Share

• Bekaert: Bekaert holds approximately 19% of the global Steel Cord Market Share, operating more than 25 manufacturing facilities across 15 countries and producing millions of kilometers of steel cord annually.
• Jiangsu Xingda Steel Cord: Jiangsu Xingda Steel Cord controls nearly 16% of global production capacity, operating 6 major manufacturing plants and supplying steel cord products to more than 80 tire manufacturers worldwide.

INVESTMENT ANALYSIS AND OPPORTUNITIES

The Steel Cord Market Opportunities continue to expand due to increasing investments in tire manufacturing and automotive production. Between 2023 and 2025, more than 30 new tire production facilities were planned globally, each capable of producing between 5 million and 15 million tires annually. These facilities require large volumes of steel cord reinforcement materials. Manufacturers are also investing in advanced wire drawing technology capable of producing filaments with diameters as low as 0.12 mm, improving tire flexibility and durability. Approximately 42% of steel cord manufacturers have invested in automation systems to increase productivity.

Asia-Pacific attracts nearly 60% of global steel cord manufacturing investments, driven by strong automotive production and infrastructure development. India alone plans to expand tire manufacturing capacity to more than 450 million tires annually, increasing demand for steel cord reinforcement materials. Electric vehicle expansion also presents opportunities. With EV production exceeding 14 million units annually, tire manufacturers require stronger reinforcement materials capable of supporting heavier battery loads ranging between 350 kg and 600 kg per vehicle.

NEW PRODUCT DEVELOPMENT

Innovation within the Steel Cord Market focuses on improving tensile strength, corrosion resistance, and weight reduction. Advanced steel cord products now achieve tensile strengths exceeding 3,500 MPa, compared with traditional materials averaging 2,200 MPa. Manufacturers are also developing brass-coated steel cords with coating thickness ranging between 0.20 µm and 0.30 µm, improving bonding between steel and rubber compounds in tires. This improves tire durability by approximately 15%.

Another innovation involves hybrid steel cord structures combining 6 to 12 filaments arranged in complex strand configurations. These structures improve fatigue resistance by nearly 20% compared with conventional designs. Lightweight reinforcement technologies are also emerging. Some manufacturers have reduced steel cord diameter by nearly 12%, decreasing tire weight while maintaining load-bearing capacity exceeding 3,000 kg per tire.

FIVE RECENT DEVELOPMENTS (2023–2025)

• In 2023, a major steel cord manufacturer expanded production capacity by installing 12 new wire drawing lines, increasing output by nearly 25%.
• In 2024, a tire reinforcement producer introduced ultra-tensile steel cord with tensile strength exceeding 3,600 MPa, designed for electric vehicle tires supporting loads above 2,500 kg.
• In 2023, a global steel cord supplier opened a new manufacturing facility covering 80,000 square meters, capable of producing more than 50,000 tons of steel cord annually.
• In 2024, advanced corrosion-resistant steel cord technology was introduced, increasing tire lifespan by approximately 18% under extreme environmental conditions.
• In 2025, a leading manufacturer implemented automated inspection systems capable of analyzing more than 1,500 meters of steel filament per minute, improving quality control accuracy.

STEEL CORD MARKET REPORT COVERAGE

The Steel Cord Market Report provides a detailed evaluation of global industry structure, production capacity, and application demand. The report analyzes more than 20 major steel cord manufacturers and evaluates production facilities across 30 countries. It includes detailed segmentation covering 4 tensile strength categories and 3 primary application sectors. The Steel Cord Market Research Report also evaluates more than 120 tire manufacturing companies that rely on steel cord reinforcement materials. Global tire production exceeding 2.5 billion units annually is assessed to determine steel cord consumption patterns.

The Steel Cord Industry Report also examines supply chain structures, including high-carbon steel wire rod production, filament drawing technology, and brass coating processes. Production temperatures exceeding 900°C during heat treatment and wire drawing speeds exceeding 1,000 meters per minute are analyzed to understand manufacturing efficiency. Additionally, the Steel Cord Market Outlook includes regional demand analysis across 4 major geographic regions, covering vehicle production, tire manufacturing capacity, and industrial applications such as conveyor belts and mining equipment tires.