Steel Tire Cord - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026 - 2031)
Market Report I 2026-02-09 I 120 Pages I Mordor Intelligence
Steel Tire Cord Market Analysis
The Steel Tire Cord market is expected to grow from 5.19 Million tons in 2025 to 5.4 Million tons in 2026 and is forecast to reach 6.55 Million tons by 2031 at 3.96% CAGR over 2026-2031. Strong replacement demand, resilient vehicle output in emerging hubs, and the radialization shift in commercial tires collectively underpin this expansion. China's 15.62 million?unit vehicle output in the first half of 2025 validated Asia's production momentum despite margin pressure. Automakers' pivot toward low-rolling-resistance designs, combined with 40% renewable-content targets for 2030, forces cord suppliers to refine coating chemistries and integrate recycled steel. Radial construction's higher steel content per tire enlarges volume intensity, while electric-vehicle torque profiles accelerate demand for ultra-flex, fatigue-resistant cords.
Global Steel Tire Cord Market Trends and Insights
Accelerating Automotive Production in Emerging Economies
Continuous manufacturing investments sustain the steel tire cord market as low-cost hubs strengthen vehicle output capacity. China's H1 2025 production surge echoed targeted fiscal stimuli that shielded OEM assembly lines from macro headwinds. ASEAN attracted USD 230 billion in 2023 FDI, much of it in component supply chains, anchoring new cord demand in Thailand, Vietnam, and Indonesia. Continental's USD 315 million expansion in Thailand alone adds 3 million tires annually, locking in localized cord call-offs. The geographic diversification reduces over-reliance on mature markets and offers suppliers volume hedging. Government incentives that promote EV assembly further magnify the addressable tonnage because battery weight lifts cord intensity per tire.
Rapid Radialization of Commercial Vehicle Tires
Medium-truck radial shipments in the United States are projected to climb 5.9% to 22 million units in 2024, reversing the prior dip. Radial designs embed more high-tensile steel than bias constructions, raising tonnage per unit. Fleet operators seeking 8-10% fuel savings adopt radials to cut operating costs. Regulatory pressure on greenhouse-gas emissions tightens total-cost-of-ownership calculus, making radialization pivotal. As commercial freight rebounds alongside construction activity, cord suppliers gain both OEM and replacement pull-through. Early adoption in North America and Europe sets technical benchmarks later mirrored in Latin America and Southeast Asia.
Volatile High-Carbon Steel and Brass Prices
Bekaert's 2024 sales slipped 8.6% to EUR 4.0 billion yet margin stability revealed effective hedging and cost pass-through mechanisms. The World Bank metals index rose 9% in April 2024 and is forecast to remain elevated through 2025, compressing profitability for non-integrated cord mills. Copper's rally to USD 10,000 per ton adds coating-layer inflation, forcing suppliers to rethink alloying or present eco-credit offsets. Small regional players lacking hedging tools face cash-flow strain, paving the way for consolidation or strategic exits.
Other drivers and restraints analyzed in the detailed report include:
Sustainability Push for Low-Rolling-Resistance "Green" TiresRegulatory Shift to Low-Copper/Zinc Coatings Boosts Alloy InnovationPolymer/Aramid Fiber Substitution Threat
For complete list of drivers and restraints, kindly check the Table Of Contents.
Segment Analysis
Brass-coated wire retained 48.25% steel tire cord market share in 2025 and should climb at a 4.74% CAGR, cementing its dominance through 2031. The coating's Cu-Zn phase enables robust Cu?S interfacial layers during vulcanization, maximizing rubber adhesion under cyclic loading. Zinc-coated cords provide higher corrosion resistance but face environmental scrutiny, driving lab-scale trials of zinc-cobalt or zinc-manganese hybrids. Copper-coated wire occupies niche high-thermal-conductivity applications such as aircraft tires, while nano-alloy platings appear in prototype EV designs seeking thinner gauge with equal adhesion. California's impending zinc runoff limits encourage brass formulation optimization to lower residual zinc without eroding performance, nudging research and development toward gradient-layer coatings.
Technological advances in plating-bath control reduce hydrogen embrittlement risk, extending wire service life even in the harsher duty cycles of electric pickups. Suppliers invest in closed-loop effluent treatment to comply with Europe's REACH directives, aligning production with customer sustainability scorecards.
The Steel Tire Cord Report is Segmented by Type (Brass Coated, Zinc Coated, Copper Coated, and Other Types), Application (Passenger Vehicle Tires, Commercial Vehicle Tires, Two-Wheeler Tires, Aircraft Tires, and Industrial Tire), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The Market Forecasts are Provided in Terms of Volume (Tons).
Geography Analysis
Asia-Pacific held 49.12% steel tire cord market share in 2025 and is projected to grow at 5.08% CAGR through 2031. China's H1 2025 vehicle output of 15.62 million units, coupled with government EV subsidies, guarantees base-load cord demand. ASEAN's USD 230 billion inbound FDI in 2023 underpins capacity expansions, such as Continental's Thailand plant aimed at 3 million additional tires annually.
North America is reshoring tire capacity to fortify supply resilience, with Nexen's USD 1.3 billion U.S. facility targeting 30,000 units daily by 2029. U.S. tire shipments are forecast to hit 340.4 million units in 2025, sustaining high replacement pull-through. EPA emission rules propel investment in closed-loop galvanizing lines that capture zinc run-off.
Europe prioritizes premium winter and sustainability-certified segments, with Continental reporting USD 14.6 billion tire sales in 2024 despite volume softness. EU anti-dumping duties on Chinese tires, re-imposed in 2023, protect regional producers and channel more local demand to European cord mills. Michelin's 40% renewable-content ambition intensifies the sourcing of recycled wire and eco-coatings.
List of Companies Covered in this Report:
Bekaert Bridgestone Corporation Daye Co., Ltd. Henan Hengxing Science & Technology Co., Ltd. HS HYOSUNG ADVANCED MATERIALS Hubei Fuxing Technology Co., Ltd. Jiangsu Xingda Steel Tyre Cord Co., Ltd. Junma Group Kiswire Ltd. Qingdao HL Group Ltd. Saarstahl AG Shandong Xinhao Tire Materials Co., Ltd. Shougang Century Holdings Limited Sumitomo Electric Industries, Ltd. Tokusen Kogyo Co., Ltd.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 Introduction
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 Research Methodology
3 Executive Summary
4 Market Landscape
4.1 Market Overview
4.2 Market Drivers
4.2.1 Accelerating automotive production in emerging economies
4.2.2 Rapid radialization of commercial vehicle tires
4.2.3 Sustainability push for low-rolling-resistance "green" tires
4.2.4 EV-specific ultra-flex fatigue-resistant cord demand
4.2.5 Regulatory shift to low-copper/zinc coatings boosts alloy innovation
4.3 Market Restraints
4.3.1 Volatile high-carbon steel and brass prices
4.3.2 Polymer/aramid fiber substitution threat
4.3.3 Emergence of air-less NPTs (non-pneumatic tires)
4.4 Value Chain Analysis
4.5 Porter's Five Forces
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Degree of Competition
5 Market Size and Growth Forecasts (Value)
5.1 By Type
5.1.1 Brass Coated
5.1.2 Zinc Coated
5.1.3 Copper Coated
5.1.4 Other types
5.2 By Application
5.2.1 Passenger Vehicle Tires
5.2.2 Commercial Vehicle Tires
5.2.3 Two-Wheeler Tires
5.2.4 Aircraft Tires
5.2.5 Industrial Tire
5.3 By Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 ASEAN
5.3.1.6 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 France
5.3.3.4 Italy
5.3.3.5 Spain
5.3.3.6 Russia
5.3.3.7 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6 Competitive Landscape
6.1 Market Concentration
6.2 Strategic Moves (MandA, JVs, Funding)
6.3 Market Share (%)/Ranking Analysis
6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share for key companies, Products and Services, and Recent Developments)
6.4.1 Bekaert
6.4.2 Bridgestone Corporation
6.4.3 Daye Co., Ltd.
6.4.4 Henan Hengxing Science & Technology Co., Ltd.
6.4.5 HS HYOSUNG ADVANCED MATERIALS
6.4.6 Hubei Fuxing Technology Co., Ltd.
6.4.7 Jiangsu Xingda Steel Tyre Cord Co., Ltd.
6.4.8 Junma Group
6.4.9 Kiswire Ltd.
6.4.10 Qingdao HL Group Ltd.
6.4.11 Saarstahl AG
6.4.12 Shandong Xinhao Tire Materials Co., Ltd.
6.4.13 Shougang Century Holdings Limited
6.4.14 Sumitomo Electric Industries, Ltd.
6.4.15 Tokusen Kogyo Co., Ltd.
7 Market Opportunities and Future Outlook
7.1 Whitespace and unmet-need assessment
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.