Market Report

Tire Reinforcement Materials Market Overview Tire Reinforcement Materials Market is expected to be valued at $19.3 billion by the end of the year 2026 growing at a CAGR of 3.5% during 2021-2026. The growth in the automobile industry, owing to the increase in sales of passenger vehicles and commercial vehicles hugely drives the tire reinforcement materials market. Furthermore, the rise in the use of steel and rayon in tire belts of car by automobile manufacturers is further fueling the tire reinforcement materials market. Reinforcement materials like steel tire and tire cord fabric provides advantages such as rigidness and resistance against abrasion and damage. Tire reinforcement materials like bead wire is an important component in the tire through which the load of the vehicle is transferred to the tire. Therefore, the increase in safety standards across the globe is driving the tire reinforcement materials market. COVID-19 impact During the COVID-19 pandemic, tire reinforcement ma...