Steel Tire Cord Market
Industry: Metals & Minerals
Published Date: February-2025
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 188
Report ID: PMRREP35134
The global steel tire cord market size is anticipated to rise from US$ 5.43 Bn in 2025 to US$ 8 Bn by 2032. It is projected to witness a CAGR of 5.7% from 2025 to 2032.
The steel tire cord industry is rising owing to increased automobile manufacturing and strict quality criteria for long-lasting, high-performance tires.
Leading producers of high-strength, corrosion-resistant steel cables for off-road equipment, commercial vehicles, and passenger automobiles, Bekaert, Sumitomo Electric Industries, and Tokusen Kogyo, support environmental requirements and tire safety.
Key Highlights of the Steel Tire Cord Market
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Global Market Attributes |
Key Insights |
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Steel Tire Cord Market Size (2025E) |
US$ 5.43 Bn |
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Market Value Forecast (2032F) |
US$ 8 Bn |
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Projected Growth (CAGR 2025 to 2032) |
5.7% |
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Historical Market Growth (CAGR 2019 to 2024) |
5.0% |
Supply Chain Interruption While Pandemic Limits the Production
The global steel tire cord industry witnessed a CAGR of 5.0% in the historical period between 2019 and 2024. Supply constraints and a decline in demand for steel cord goods resulted from the COVID-19 pandemic's significant effects on enterprises in China, India, and the U.S. Strict government rules, supply chain interruptions, and a lack of manpower and raw materials hurt the construction and automobile sectors.
The labor market became more competitive after the epidemic, which raised operational expenses. Key market participants have, nonetheless, used fresh tactics to regain output and income, suggesting that the market will stabilize going forward.
Infrastructure Growth Drives Demand for Steel Cord-reinforced Heavy-duty Tires
In the estimated timeframe from 2025 to 2032, the global market for steel tire cords is likely to showcase a CAGR of 5.7%. The need for heavy-duty tires with steel cord reinforcement, which provide durability and load-bearing capability, is being driven by the expanding infrastructure and building boom.
The development of infrastructure projects across the world is estimated to present novel avenues for market players to boost their production of heavy-duty tires in the forthcoming period.
Growth Drivers
Booming Auto Sales and Tire Demand Fuel Steel Cord Surge
The need for replacement tires and the rise in vehicle production are likely to propel the worldwide steel tire cord market's expansion through the growing usage of radial tires for improved durability and fuel economy.
Since reinforced, high-strength tires are required for improved load capacity and lifespan, commercial vehicles—such as trucks and buses—consume more than 60% of steel tire cord.
Global demand for long-lasting, wear-resistant steel tire cords is being driven by government regulations for high-performance tires, in commercial vehicle classes where demand for tire replacement and automobile manufacturing is estimated to surge in the projected period.
Presence of Alternatives in Industry Limits the Adoption of Steel Cords
Renowned for their strength and longevity, steel cables are gradually being replaced by lighter, more flexible, and eco-friendly substitutes including rayon, polyester, nylon, and aramid, which provide specialized uses and environmental resistance.
Companies like DuPont and Teijin are enhancing tire performance through hybrid reinforcement technologies, combining synthetic and steel fibers, and limiting the use of pure steel cords in certain segments.
Surging Construction Projects Presents Prospects for Steel Tire Cords
In order to provide endurance and load-bearing capability in severe situations, heavy-duty tires reinforced with steel cords are becoming prevalent in demand due to infrastructure development and construction activities.
Steel cord reinforcement is essential for heavy-duty applications, and investments in infrastructure, mining, and logistics are anticipated to fuel the growth of the worldwide off-road tire market.
Leading tire manufacturers such as Bridgestone, Michelin, and Goodyear are expanding their steel-reinforced tire offerings to meet increasing demand.
Product Type Insights
Manufacturers Demand for Durability with Brass Coated Tires with Promising Prospects
On the basis of product type, the brass coated tire segment is expected to hold a market share of 46.4% in 2025, owing to its expansion in manufacturing, increasing demand for durable tires, and sustainability advancements.
Manufacturers like Bekaert, Sumitomo Electric Industries, and Bridgestone are investing in next-generation brass coated steel cords, while Michelin and Continental AG are focusing on sustainable, high-performance brass coated reinforcements.
Following the brass coated tires growth in 2025, the zinc coated segment is projected to capture 21.7% of the market by 2025, owing to its high tensile strength, corrosion resistance, and durability. Its use in automotive tire and conveyor belt manufacturing ensures lasting performance in tough conditions.
Application Insights
Consumer Tends to Opt for Passenger Vehicles with Better Tires
Based on the application, passenger vehicles are estimated to hold a market share of 45% in 2025. Leading automotive parts manufacturers are estimated to boost the demand for steel cord tires owing to their durability and high quality.
Based on the studies, steel cord products, used in nearly one in three tires worldwide, can reduce tire weight and rolling resistance, promoting sustainable tires for passenger vehicles. They offer longer tire life and improved adhesion at a lower cost, making them ideal for use in passenger cars.
The China Rubber Industry Association (CRIA) predicts that tire production will reach 704 million units annually by 2025. This forecast includes various types of tires, such as those for passenger cars, trucks, bias trucks, industrial vehicles, agricultural equipment, and aircraft. As a result, manufacturers are expected to increase their investments in high-quality tires for passenger cars.
Increase in Tire Production in Asia Pacific Provides Opportunities to Automotive Growth
Asia Pacific is projected to attain a 37.6% market share in 2025. The Asia Pacific steel tire cord market is expected to dominate the global industry due to its growing automotive sector and tire production in China and India. The region is anticipated to showcase a CAGR of 5.9% from 2025 to 2032.
From January to November 2021, vehicle tire exports from China, the world's largest center for automotive manufacturing, increased by 13.9% in volume and 22.4% in value. The China Rubber Industry Association plans to reach 704 million units by 2025.
India, the world's fifth-largest passenger car and motorcycle market, produced 169 million tire units in 2021, with production expected to quadruple by 2026.
Major companies such as Apollo Tyres, JK Tyre, and MRF are investing in steel tire cord technology within the Asia Pacific region. The industrialization in the Asia Pacific is expected to enhance automotive technology production by creating attractive investment opportunities.
Focus on Sustainable Production of Tires in Europe Presents Growth Avenues
The steel tire cord market in Europe is expected to hold a 28.4% market share in 2025 due to the growing adoption of green tire production in the region. Tire producers and automobiles in Europe are adopting fuel-efficient, environmentally friendly tires with high-performance steel cables, with a CAGR of 5.2% predicted between 2025 and 2032.
In May 2021, the European Union (EU) introduced a new tire labeling system, highlighting wet grip, fuel efficiency, ice grip, and snow grip ratings. Such initiatives improve consumer awareness and support the demand for advanced steel cord technologies in tire manufacturing.
Michelin, Continental, and Pirelli are investing in high-tensile steel cords to enhance tire performance and sustainability. By focusing on sustainable technology to improve the quality of tires in Europe, manufacturers can seize this opportunity.
Robust EV Infrastructure of North America Boost Demand for High-Quality Tires
Increased expenditures in infrastructure, sustainable mobility, and the expansion of the automotive and manufacturing sectors are driving growth in the steel tire cord industry in North America.
The U.S. government's US$ 1.2 Tn Infrastructure Investment and Jobs Act (IIJA), signed in November 2021, is expected to boost demand for commercial and electric vehicles, directly driving tire reinforcement needs in the region.
Major tire manufacturers like Goodyear and Bridgestone are focusing on steel tire cords for eco-friendly tires, driven by a 9% increase in tire shipments in 2022, according to the U.S. Tire Manufacturers Association (USTMA).
The growth of the tech-savvy population drives fuel market expansion, as EV production by Tesla and Ford increases the adoption of high-durability steel cords for tires.
The global steel tire cord industry plays a crucial role in the automotive and tire manufacturing sectors by providing materials that enhance tire strength and durability. Manufacturers are adopting the latest technologies to produce high-quality products and tailor solutions to meet the demands of end users.
Market participants are expected to broaden their geographical presence and increase production through various strategies, including product diversification, research and development, and mergers and acquisitions.
Key Industry Developments
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Report Attributes |
Details |
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Historical Data/Actuals |
2019 - 2024 |
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Forecast Period |
2025 - 2032 |
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Market Analysis Units |
Value: US$ Bn/Mn, Volume: As applicable |
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Geographical Coverage |
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Segmental Coverage |
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Competitive Analysis |
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Report Highlights |
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Customization and Pricing |
Available upon request |
By Product Type
By Application
By Region
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The market is set to reach US$ 5.43 Bn in 2025.
Rubber is derived from brass or bronze due to copper's strong chemical composition, while steel cord strength is achieved using high carbon steel (0.70-0.95% C).
Bekaert, Sumitomo Electric Industries, Ltd., Jiangsu Xingda Steel Tyre Cord Co., Ltd., Hyosung Corporation, and Bridgestone (Shenyang) Steelcord Co., Ltd. are a few leading players.
The industry is estimated to rise at a CAGR of 5.7% through 2032.
Asia Pacific is projected to hold the largest share of the industry in 2025.
