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report thumbnailSteel Cord Market

Steel Cord Market Strategic Insights: Analysis 2025 and Forecasts 2033

Steel Cord Market by Product (Brass Coated, Zinc Coated, Others), by Type (Normal Tensile, High Tensile, Super Tensile, Ultra Tensile, Others), by Application (Tires, Conveyor Belts, Others), by By Geography (North America) Forecast 2026-2034

Jul 8 2025

Base Year: 2025

350 Pages

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Steel Cord Market Strategic Insights: Analysis 2025 and Forecasts 2033

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Steel Cord Market Strategic Insights: Analysis 2025 and Forecasts 2033


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Key Insights

The Steel Cord Market size was valued at USD 5.03 USD Billion in 2023 and is projected to reach USD 7.56 USD Billion by 2032, exhibiting a CAGR of 6.0 % during the forecast period. Automotive, construction, and manufacturing industries have immense importance for the steel cord market for radial tyres and high-strength wire reinforcements. Steel cords possess unusually high tensile strength alongside inherent flexibility, making it a multipurpose material used in auto industries for manufacturing tyres as well as for reinforcing concrete constructions and industries for making belts and related products. ALC includes regular, compacted, and ultra-fine types, and research with better mechanical properties happens on the technology front. Filled with steel cords they provide safety and increased durability in many uses which in turn help to cut maintenance costs and improve the general performance hence being key in the automotive and industrial industries.

Steel Cord Market Research Report - Market Overview and Key Insights

Steel Cord Market Market Size (In Million)

20.0M
15.0M
10.0M
5.0M
0
12.50 M
2022
13.20 M
2023
14.00 M
2024
14.80 M
2025
15.60 M
2026
16.50 M
2027
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Steel Cord Trends

  • Growing adoption of run-flat and ultra-high-performance tires
  • Increasing demand for steel belts in mining and construction equipment
  • Shift towards lightweight and durable conveyor systems
Steel Cord Market Market Size and Forecast (2024-2030)

Steel Cord Market Company Market Share

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Driving Forces: What's Propelling the Steel Cord Market

  • Booming Automotive Sector and Tire Demand: The global surge in vehicle production, particularly in developing nations, significantly boosts the demand for steel cords, a critical component in tire manufacturing. This growth is fueled by rising disposable incomes and increasing urbanization worldwide.
  • Infrastructure Development and Construction Boom: Massive infrastructure projects, including road construction, bridge building, and other large-scale developments, globally contribute to a significant demand for high-strength steel cords used in reinforcing materials and other construction applications. This is especially true in rapidly developing economies experiencing significant urbanization.
  • Technological Innovations in Steel Cord Manufacturing: Continuous advancements in steel cord production techniques, including the development of high-tensile strength materials and improved manufacturing processes, are leading to lighter, stronger, and more durable products. These improvements enhance tire performance, fuel efficiency, and overall lifespan, further driving market growth.
  • Sustainability and Environmental Concerns: The lightweight nature of steel cords contributes to improved fuel efficiency in vehicles, aligning with the global push for environmentally friendly transportation solutions. This factor is increasingly influencing purchasing decisions within the automotive industry and related sectors.
  • Expansion into Diverse Industrial Applications: Beyond the tire industry, steel cords are finding increasing use in a wide range of applications, including reinforcing materials in the construction, mining, and heavy-duty machinery sectors. This diversification offers significant growth potential for the steel cord market.

Challenges and Restraints in the Steel Cord Market

  • Fluctuating raw material prices, primarily steel wire
  • Intense competition from synthetic and natural fibre alternatives
  • Limited availability of specialized labour and skilled workforce

Emerging Trends in Steel Cord

  • Development of ultra-high-tensile steel cords for specialized applications
  • Growing focus on sustainability and environmental consciousness
  • Integration of advanced coatings and treatments to enhance performance and durability

Growth Catalysts in the Steel Cord Industry

  • Government regulations promoting safety and performance standards
  • Increasing investments in research and development
  • Technological innovations, such as nanotechnology and composite materials

Market Segmentation: Steel Cord Analysis

Product:

  • Brass Coated
  • Zinc Coated
  • Others

Type:

  • Normal Tensile
  • High Tensile
  • Super Tensile
  • Ultra Tensile
  • Others

Application:

  • Tires
  • Conveyor Belts
  • Others

Leading Players in the Steel Cord Market

  • Sumitomo Electric Industries, Ltd.
  • ArcelorMittal
  • HYOSUNG ADVANCED MATERIALS.
  • Henan Hengxing Science & Technology Co., Ltd.
  • Bekaert
  • TOKUSEN KOGYO Co.,ltd
  • Forech
  • ContiTech Deutschland GmbH
  • Bridgestone (SHENYANG) Steelcord Co., Ltd
  • HL Group Ltd.

Significant developments in the Steel Cord Sector

  • February 2023: ContiTech Deutschland GmbH introduced steel-reinforced polyurethane belts under the name Synchromotion.
  • January 2023: ArcelorMittal expanded its steel cord production capacity in Mexico to meet growing demand in the Americas.
  • December 2022: Sumitomo Electric Industries, Ltd. developed a new high-tensile steel cord for use in aircraft tyres.

Comprehensive Coverage Steel Cord Market Report

Our in-depth steel cord market report provides a comprehensive analysis of this dynamic industry, offering crucial insights for informed decision-making. The report meticulously examines market size and growth projections, identifying key trends and influential factors shaping the market's trajectory. We delve into the intricacies of market segmentation, analyzing regional variations in demand, supply chain dynamics, and competitive landscapes. Further, the report incorporates a detailed examination of pricing strategies, import/export data, and a thorough competitive analysis, empowering stakeholders with actionable intelligence to navigate the evolving steel cord market effectively. The report also features in-depth consumer behavior analysis and future market outlooks, providing a complete picture of this important sector.

Regional Insight

  • Asia-Pacific is the largest market due to rapid industrialization and high automotive production.
  • Europe is a mature market with a focus on quality and technological advancements.
  • North America is a growing market with increasing demand for high-performance tyres.
Steel Cord Market Market Share by Region - Global Geographic Distribution

Steel Cord Market Regional Market Share

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Consumer Side Analysis

  • The automotive industry is the primary consumer of steel cords.
  • Construction and mining industries are also significant consumers.
  • End-users prioritize strength, durability, and performance.

Demand Side Analysis

  • Demand is driven by increasing safety regulations, performance requirements, and infrastructure development.
  • Technological innovations and product differentiation create new opportunities.

Import And Export Analysis

  • China is a major exporter of steel cords, while the EU and the US are significant importers.
  • Trade dynamics are influenced by global supply-demand balances and tariff regulations.

Pricing Strategies

  • Pricing is competitive, with variations based on type, tensile strength, and production costs.
  • Tiered pricing models are common, catering to different market segments.

Segmentation

  • By product type (brass coated, zinc coated, others)
  • By tensile strength (normal, high, super, ultra)
  • By application (tyres, conveyor belts, others)

Geographic Coverage of Steel Cord Market

Higher Coverage
Lower Coverage
No Coverage

Steel Cord Market REPORT HIGHLIGHTS

AspectsDetails
Study Period 2020-2034
Base Year 2025
Estimated Year 2026
Forecast Period2026-2034
Historical Period2020-2025
Growth RateCAGR of 6.0% from 2020-2034
Segmentation
    • By Product
      • Brass Coated
      • Zinc Coated
      • Others
    • By Type
      • Normal Tensile
      • High Tensile
      • Super Tensile
      • Ultra Tensile
      • Others
    • By Application
      • Tires
      • Conveyor Belts
      • Others
  • By Geography
    • By Geography
      • North America

Table of Contents

  1. 1. Introduction
    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions
  2. 2. Executive Summary
    • 2.1. Introduction
  3. 3. Market Dynamics
    • 3.1. Introduction
      • 3.2. Market Drivers
        • 3.2.1. Rising Demand for Tires from the OEMs and Aftermarket to Surge Product Consumption
      • 3.3. Market Restrains
        • 3.3.1. Availability of Substitutes May Hamper the Market Growth
      • 3.4. Market Trends
        • 3.4.1. Rising Infrastructure Projects and Technological Advancements May Create Opportunities in the Market
  4. 4. Market Factor Analysis
    • 4.1. Porters Five Forces
    • 4.2. Supply/Value Chain
    • 4.3. PESTEL analysis
    • 4.4. Market Entropy
    • 4.5. Patent/Trademark Analysis
  5. 5. Global Steel Cord Market Analysis, Insights and Forecast, 2020-2032
    • 5.1. Market Analysis, Insights and Forecast - by Product
      • 5.1.1. Brass Coated
      • 5.1.2. Zinc Coated
      • 5.1.3. Others
    • 5.2. Market Analysis, Insights and Forecast - by Type
      • 5.2.1. Normal Tensile
      • 5.2.2. High Tensile
      • 5.2.3. Super Tensile
      • 5.2.4. Ultra Tensile
      • 5.2.5. Others
    • 5.3. Market Analysis, Insights and Forecast - by Application
      • 5.3.1. Tires
      • 5.3.2. Conveyor Belts
      • 5.3.3. Others
    • 5.4. Market Analysis, Insights and Forecast - by Region
      • 5.4.1. By Geography
  6. 6. Competitive Analysis
    • 6.1. Global Market Share Analysis 2025
      • 6.2. Company Profiles
        • 6.2.1 Sumitomo Electric Industries Ltd. (Japan)
          • 6.2.1.1. Overview
          • 6.2.1.2. Products
          • 6.2.1.3. SWOT Analysis
          • 6.2.1.4. Recent Developments
          • 6.2.1.5. Financials (Based on Availability)
        • 6.2.2 ArcelorMittal (Luxembourg)
          • 6.2.2.1. Overview
          • 6.2.2.2. Products
          • 6.2.2.3. SWOT Analysis
          • 6.2.2.4. Recent Developments
          • 6.2.2.5. Financials (Based on Availability)
        • 6.2.3 HYOSUNG ADVANCED MATERIALS. (South Korea)
          • 6.2.3.1. Overview
          • 6.2.3.2. Products
          • 6.2.3.3. SWOT Analysis
          • 6.2.3.4. Recent Developments
          • 6.2.3.5. Financials (Based on Availability)
        • 6.2.4 Henan Hengxing Science & Technology Co. Ltd. (China)
          • 6.2.4.1. Overview
          • 6.2.4.2. Products
          • 6.2.4.3. SWOT Analysis
          • 6.2.4.4. Recent Developments
          • 6.2.4.5. Financials (Based on Availability)
        • 6.2.5 Bekaert (Belgium)
          • 6.2.5.1. Overview
          • 6.2.5.2. Products
          • 6.2.5.3. SWOT Analysis
          • 6.2.5.4. Recent Developments
          • 6.2.5.5. Financials (Based on Availability)
        • 6.2.6 TOKUSEN KOGYO Co.ltd (Japan)
          • 6.2.6.1. Overview
          • 6.2.6.2. Products
          • 6.2.6.3. SWOT Analysis
          • 6.2.6.4. Recent Developments
          • 6.2.6.5. Financials (Based on Availability)
        • 6.2.7 Forech (India)
          • 6.2.7.1. Overview
          • 6.2.7.2. Products
          • 6.2.7.3. SWOT Analysis
          • 6.2.7.4. Recent Developments
          • 6.2.7.5. Financials (Based on Availability)
        • 6.2.8 ContiTech Deutschland GmbH (Germany)
          • 6.2.8.1. Overview
          • 6.2.8.2. Products
          • 6.2.8.3. SWOT Analysis
          • 6.2.8.4. Recent Developments
          • 6.2.8.5. Financials (Based on Availability)
        • 6.2.9 Bridgestone (SHENYANG) Steelcord Co. Ltd (Japan)
          • 6.2.9.1. Overview
          • 6.2.9.2. Products
          • 6.2.9.3. SWOT Analysis
          • 6.2.9.4. Recent Developments
          • 6.2.9.5. Financials (Based on Availability)
        • 6.2.10 HL Group Ltd. (Germany)
          • 6.2.10.1. Overview
          • 6.2.10.2. Products
          • 6.2.10.3. SWOT Analysis
          • 6.2.10.4. Recent Developments
          • 6.2.10.5. Financials (Based on Availability)

List of Figures

  1. Figure 1: Global Steel Cord Market Revenue Breakdown (USD Billion, %) by Region 2025 & 2033
  2. Figure 2: Global Steel Cord Market Volume Breakdown (Million Ton, %) by Region 2025 & 2033
  3. Figure 3: By Geography Steel Cord Market Revenue (USD Billion), by Product 2025 & 2033
  4. Figure 4: By Geography Steel Cord Market Volume (Million Ton), by Product 2025 & 2033
  5. Figure 5: By Geography Steel Cord Market Revenue Share (%), by Product 2025 & 2033
  6. Figure 6: By Geography Steel Cord Market Volume Share (%), by Product 2025 & 2033
  7. Figure 7: By Geography Steel Cord Market Revenue (USD Billion), by Type 2025 & 2033
  8. Figure 8: By Geography Steel Cord Market Volume (Million Ton), by Type 2025 & 2033
  9. Figure 9: By Geography Steel Cord Market Revenue Share (%), by Type 2025 & 2033
  10. Figure 10: By Geography Steel Cord Market Volume Share (%), by Type 2025 & 2033
  11. Figure 11: By Geography Steel Cord Market Revenue (USD Billion), by Application 2025 & 2033
  12. Figure 12: By Geography Steel Cord Market Volume (Million Ton), by Application 2025 & 2033
  13. Figure 13: By Geography Steel Cord Market Revenue Share (%), by Application 2025 & 2033
  14. Figure 14: By Geography Steel Cord Market Volume Share (%), by Application 2025 & 2033
  15. Figure 15: By Geography Steel Cord Market Revenue (USD Billion), by Country 2025 & 2033
  16. Figure 16: By Geography Steel Cord Market Volume (Million Ton), by Country 2025 & 2033
  17. Figure 17: By Geography Steel Cord Market Revenue Share (%), by Country 2025 & 2033
  18. Figure 18: By Geography Steel Cord Market Volume Share (%), by Country 2025 & 2033

List of Tables

  1. Table 1: Global Steel Cord Market Revenue USD Billion Forecast, by Product 2020 & 2033
  2. Table 2: Global Steel Cord Market Volume Million Ton Forecast, by Product 2020 & 2033
  3. Table 3: Global Steel Cord Market Revenue USD Billion Forecast, by Type 2020 & 2033
  4. Table 4: Global Steel Cord Market Volume Million Ton Forecast, by Type 2020 & 2033
  5. Table 5: Global Steel Cord Market Revenue USD Billion Forecast, by Application 2020 & 2033
  6. Table 6: Global Steel Cord Market Volume Million Ton Forecast, by Application 2020 & 2033
  7. Table 7: Global Steel Cord Market Revenue USD Billion Forecast, by Region 2020 & 2033
  8. Table 8: Global Steel Cord Market Volume Million Ton Forecast, by Region 2020 & 2033
  9. Table 9: Global Steel Cord Market Revenue USD Billion Forecast, by Product 2020 & 2033
  10. Table 10: Global Steel Cord Market Volume Million Ton Forecast, by Product 2020 & 2033
  11. Table 11: Global Steel Cord Market Revenue USD Billion Forecast, by Type 2020 & 2033
  12. Table 12: Global Steel Cord Market Volume Million Ton Forecast, by Type 2020 & 2033
  13. Table 13: Global Steel Cord Market Revenue USD Billion Forecast, by Application 2020 & 2033
  14. Table 14: Global Steel Cord Market Volume Million Ton Forecast, by Application 2020 & 2033
  15. Table 15: Global Steel Cord Market Revenue USD Billion Forecast, by Country 2020 & 2033
  16. Table 16: Global Steel Cord Market Volume Million Ton Forecast, by Country 2020 & 2033
  17. Table 17: North America Steel Cord Market Revenue (USD Billion) Forecast, by Application 2020 & 2033
  18. Table 18: North America Steel Cord Market Volume (Million Ton) Forecast, by Application 2020 & 2033

Methodology

Step 1 - Identification of Relevant Samples Size from Population Database

Step Chart
Bar Chart
Method Chart

Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Approach Chart
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.

Note*: In applicable scenarios

Step 3 - Data Sources

Primary Research

  • Web Analytics
  • Survey Reports
  • Research Institute
  • Latest Research Reports
  • Opinion Leaders

Secondary Research

  • Annual Reports
  • White Paper
  • Latest Press Release
  • Industry Association
  • Paid Database
  • Investor Presentations
Analyst Chart

Step 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.

Frequently Asked Questions

1. What is the projected Compound Annual Growth Rate (CAGR) of the Steel Cord Market?

The projected CAGR is approximately 6.0%.

2. Which companies are prominent players in the Steel Cord Market?

Key companies in the market include Sumitomo Electric Industries, Ltd. (Japan), ArcelorMittal (Luxembourg), HYOSUNG ADVANCED MATERIALS. (South Korea), Henan Hengxing Science & Technology Co., Ltd. (China), Bekaert (Belgium), TOKUSEN KOGYO Co.,ltd (Japan), Forech (India), ContiTech Deutschland GmbH (Germany), Bridgestone (SHENYANG) Steelcord Co., Ltd (Japan), HL Group Ltd. (Germany).

3. What are the main segments of the Steel Cord Market?

The market segments include Product, Type, Application.

4. Can you provide details about the market size?

The market size is estimated to be USD 5.03 USD Billion as of 2022.

5. What are some drivers contributing to market growth?

Rising Demand for Tires from the OEMs and Aftermarket to Surge Product Consumption.

6. What are the notable trends driving market growth?

Rising Infrastructure Projects and Technological Advancements May Create Opportunities in the Market.

7. Are there any restraints impacting market growth?

Availability of Substitutes May Hamper the Market Growth.

8. Can you provide examples of recent developments in the market?

February 2023 – ContiTech Deutschland GmbH introduced Steel cord reinforced polyurethane belts under the name Synchromotion which are regarded as to be extremely flexible, durable, and abrasion resistant. The polyurethane cover assure better efficient power transmission as compared to other materials.

9. What pricing options are available for accessing the report?

Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4850, USD 5850, and USD 6850 respectively.

10. Is the market size provided in terms of value or volume?

The market size is provided in terms of value, measured in USD Billion and volume, measured in Million Ton.

11. Are there any specific market keywords associated with the report?

Yes, the market keyword associated with the report is "Steel Cord Market," which aids in identifying and referencing the specific market segment covered.

12. How do I determine which pricing option suits my needs best?

The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.

13. Are there any additional resources or data provided in the Steel Cord Market report?

While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.

14. How can I stay updated on further developments or reports in the Steel Cord Market?

To stay informed about further developments, trends, and reports in the Steel Cord Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.