Key Trends in Steel Tire Cord Growth

The global steel tire cord market is projected to grow from US$ 5.43 billion in 2025 to US$ 8 billion by 2032, with a CAGR of 5.7%. This growth is fueled by the rising demand for durable, high-performance tires driven by increased automobile production and stringent quality standards. The market is particularly benefitting from the demand for radial tires that enhance fuel efficiency and longevity. Key players like Bekaert, Sumitomo Electric Industries, and Tokusen Kogyo are advancing the market with steel cords that meet environmental and safety regulations. Moreover, the expansion of infrastructure and mining sectors is driving the demand for heavy-duty tires reinforced with steel cords, further boosting market growth. However, alternatives such as synthetic fibers are posing a challenge to the widespread adoption of steel tire cords. Despite this, the market's future looks promising, with significant opportunities arising from growing construction and logistics activities globally.