Steel Tire Cord Market Size & Share Analysis - Growth Trends And Forecast (2025 - 2030)

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^{[1]Association of Southeast Asian Nations, “ASEAN Investment Report 2024,” asean.org}. 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.

Sustainability Push for Low-Rolling-Resistance “Green” Tires

Tire majors target 40% renewable content by 2030, pushing steel tire cord market stakeholders to align coating chemistries with recyclability mandates. Toyo’s concept tire incorporating 30% recycled steel cord signposts circular-economy feasibility for high-grade metal reinforcement. The Tire Industry Project promotes pyrolysis routes that reclaim steel from end-of-life tires, shrinking raw-material exposure. Evonik’s process that lifts recycled rubber content from 5% to 20% complements recycled cord feedstock, tightening value-chain loops. Europe’s corporate disclosure law accelerates adoption of life-cycle assessment metrics, nudging OEMs to favor suppliers with verifiable carbon footprints.

Regulatory Shift to Low-Copper/Zinc Coatings Boosts Alloy Innovation

California’s Department of Toxic Substances Control singled out zinc runoff from tire wear, foreshadowing tighter global limits. European chemicals legislation adds copper to the watchlist, nudging OEMs toward alternative alloys with lower aquatic toxicity. Zinc–cobalt coatings exhibit comparable adhesion while reducing red-rust formation, opening substitution windows. Multinational tire makers now require supplier disclosure of coating composition, accelerating qualification cycles for innovative platings that balance performance with compliance.

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^{[2]World Bank, “Metal Prices Set to Remain High in 2024-25,” worldbank.org} . 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.

Polymer/Aramid Fiber Substitution Threat

Hybrid nylon 66/polyester cords deliver rising modulus-to-weight ratios, while aramid fibers already match steel in certain mileage tests. Aramid addition at 3 phr reduced mixing‐phase metal wear, signaling manufacturing benefits alongside weight savings. Hyosung USA promotes advanced polyester cord as a lightweight reinforcement for EV tires, leveraging global capacity. While cost parity remains distant, regulatory pressure on rolling resistance and CO₂ intensity may tilt OEM specifications toward hybrid packages. Steel cord’s entrenched manufacturing footprint and superior heat conductivity still safeguard core demand, but substitution risk intensifies when steel prices spike or recycling mandates tighten.

Segment Analysis

By Type: Brass Coating Prevails but Alternatives Emerge

Brass-coated wire retained 48.90% steel tire cord market share in 2024 and should climb at a 4.84% CAGR, cementing its dominance through 2030. The coating’s Cu-Zn phase enables robust Cu₂S 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. 

Note: Segment shares of all individual segments available upon report purchase

By Application: Passenger Vehicles Anchor Volume, EVs Lift Specification Complexity

Passenger vehicle tires accounted for 81.27% of the steel tire cord market size in 2024 and are expected to expand at a 4.25% CAGR through 2030, reflecting robust replacement cycles and steady OEM output. Battery-electric models weigh 20–30% more than comparable internal-combustion cars, increasing reinforcement tonnage per tire and spurring demand for ultra-flex cords that balance ride comfort with durability. The commercial vehicle segment, while smaller, contributes higher wire content per unit—often double passenger equivalents—driving above-average value growth as freight activity rebounds in North America and Europe. Two-wheeler adoption in dense Asian cities lifts premium motorcycle tire demand, where steel-belted radials gain traction for stability and safety.

Aircraft and industrial tires represent niche volumes but command the highest value per kilogram due to stringent landing and load requirements. Aircraft cords use tailored high-strength wires capable of withstanding rapid temperature variation, while mining and port equipment tires rely on maximal cord density to combat abrasion. 

Note: Segment shares of all individual segments available upon report purchase

Geography Analysis

Asia-Pacific held 49.51% steel tire cord market share in 2024 and is projected to grow at 5.16% CAGR through 2030. 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.