Steel cords are thin steel fibers or filaments that are widely used to manufacture conveyor belts, used for tire reinforcement, among others. Steel cords are lightweight and durable. They help in minimizing the rolling resistance in conveyor belts. They also help in reducing the weight of the tires and enhance their durability.
Increasing demand for steel cords from the manufacturing and automotive industries is expected to boost the market growth. Steel cords are rapidly used for tire reinforcement as they help in reducing the rolling resistance in tires and reduce their overall weight. This improve the performance of the tires and vehicles. Moreover, steel cords are extensively used to design conveyor belts. These factors are projected to further drive the market growth in the coming years. However, fluctuating prices of steel may hinder the market growth in the forthcoming period.
The "Global Steel cord Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the steel cord market with detailed market segmentation based on product and application. The global steel cord market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading steel cord market players and offers key trends and opportunities in the market.
The global steel cord market is segmented into product and application. By product the steel cord market is segmented into brass coated, zinc coated, and others. By application, the steel cord market is classified into conveyor belts, tire reinforcement, and others.
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides an overview and forecast of the global steel cord market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America. The steel cord market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally, along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the steel cord market from both demand and supply side. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions, namely; North America, Europe, APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the steel cord in these regions.
The report covers vital developments in the steel cord as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from the luxury lipsticks are anticipated to witness lucrative growth opportunities in the future with the rising demand for luxury lipsticks in the global market. Below mentioned is the list of few companies engaged in the steel cord market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the steel cord market. Besides, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last three years, the critical development in the past five years.
- Tata Steel
- Sumitomo Electric Industries, Ltd.
- Jiangsu Xingda Steel Tyre Cord Co., Ltd.
- Henan Hengxing Science & Technology Co., Ltd.
- SWR Ltd.
- Ormiston Wire Ltd.
- Jiaxing Eastern Steel Cord Co., Ltd.
- Xinghua Tianli Stainless Steel Products Co.,Ltd