Reports
The Global Steel Cord for Tire Reinforcement Market was valued at USD 4,721 Million in 2024 and is anticipated to reach a value of USD 6,461.0 Million by 2032 expanding at a CAGR of 4.0% between 2025 and 2032. This growth is driven by rising automotive production and increasing demand for high‑performance radial tires.
In China, production capacity for steel cord in tire reinforcement has exceeded 1.8 million tonnes per annum, with capital investment surpassing USD 120 million between 2022‑2024 in new fully automated lines. The country’s major steel‑cord manufacturers supply cords utilised in over 55 % of domestic radial tire production. Technological advancements such as ultra‑high tensile (UHT) cords and zinc‑coated micro‑diameter wire are being adopted by Chinese firms, and regional consumption of steel cord for commercial vehicle tires has reached approximately 42 % of total cord volumes in 2024.
Market Size & Growth: Current market value stands at USD 4,721 Million in 2024, projected to reach USD 6,461.0 Million by 2032 at a CAGR of 4.0% owing to stronger demand for reinforced tires in EVs and heavy‑commercial segments.
Top Growth Drivers: Increased radialisation of commercial vehicle tires (33 %), growth in electric vehicle manufacture (28 %), higher durability and load‑bearing efficiency requirements (21 %).
Short‑Term Forecast: By 2028, manufacturers are expected to improve steel cord unit strength by 18% and reduce manufacturing scrap rates by 12%.
Emerging Technologies: Ultra‑high tensile (UHT) steel cord, ultra‑thin zinc‑coated wire, and inline digital quality inspection systems are shaping the market.
Regional Leaders: Asia‑Pacific projected at ~USD 2,350 Million by 2032 with rising tire manufacturing; Europe ~USD 1,450 Million by 2032 driven by premium vehicle production; North America ~USD 1,100 Million by 2032 driven by heavy‑duty truck growth.
Consumer/End‑User Trends: Major tire OEMs increasingly specify higher‑tensile cords for EV and commercial tires; aftermarket replacements show 27% growth in heavy‐truck steel cord shipments in 2024.
Pilot or Case Example: In 2023 a leading tire OEM introduced a trial using UHT steel cord in 1,200 commercial vehicles, achieving 15% longer tire life and 9% lower downtime compared to standard cord designs.
Competitive Landscape: The market leader holds approximately 22% share, followed by 4 major competitors each holding significant assets and global reach.
Regulatory & ESG Impact: Environmental regulations in EU and North America mandate increased recyclability of tire components and reduced steel‑cord manufacturing emissions by 10‑15% by 2026.
Investment & Funding Patterns: Recent industry investments totalled over USD 190 million across new plant expansions and sensor‑enabled cord production lines in 2023–24.
Innovation & Future Outlook: Integration of IoT‑enabled steel‑cord manufacturing, smart quality analytics, and next‑generation ultra‑fine steel wires positions the market for resilient and sustainable growth in the next decade.
The steel cord for tire reinforcement industry is witnessing consolidation of high‑tensile technology, global expansion of production capacity, tighter regulatory regimes and shift‑towards sustainability, creating a robust outlook for strategic players. In the tire reinforcement sector, premium vehicle segments and heavy‑duty commercial tyres each contribute around 30–35% of steel cord consumption, while radial passenger tyres account for the balance. Innovations such as ultra‑thin zinc‑coated cords and inline digital inspection are improving quality and reducing defect rates. Regulatory drivers include recyclability targets and OEM mandates for higher line‑haul tyre durability. Emerging trends include growing EV tyre reinforcement requirements and aftermarket refurbishments in Latin America.
The strategic relevance of the steel cord for tire reinforcement market lies in its direct link to the global automotive value chain, commercial vehicle logistics, and infrastructure resilience. As tyre manufacturers adopt ultra‑high tensile (UHT) steel cord, performance benchmarks show approximately 18% improvement in load‑carrying capacity compared to standard tensile cords. While Asia‑Pacific dominates in volume, North America leads in adoption with over 40% of heavy‑truck tyres specifying higher‑tensile steel cord in 2024. By 2026, digital inline inspection systems are expected to cut defect rates by up to 22% across steel cord production lines. Firms are committing to ESG metrics such as 12% reduction in steel cord‑plant CO₂ emissions per tonne by 2027. In 2023, a major Chinese manufacturer achieved a 14% reduction in scrap rate through AI‑driven process optimisation in its newly commissioned plant. Moving forward, the steel cord for tire reinforcement market stands as a pillar of operational resilience, compliance and sustainable growth — enabling tire producers and vehicle OEMs to meet performance, regulatory and quality demands in a volatile global supply environment.
The Steel Cord for Tire Reinforcement Market is shaped by evolving vehicle production trends, rising demand for premium and commercial tires, and material innovations in cord manufacture. Key influences include increased radialisation of tyres globally—particularly for heavy‑duty and commercial vehicles—driving higher steel cord uptake. At the same time, manufacturers are investing in thinner wires, advanced coatings and inline quality systems that lower defect rates and enhance cord tensile strength. The market is also affected by global raw‑material dynamics—steel wire rod supply constraints or tariff shifts can influence pricing and capacity decisions. Furthermore, increasing regulatory pressure for tire durability, recyclability and heavier vehicles (e.g., electric trucks) is elevating requirements for reinforcement materials. For decision‑makers in the supply chain, monitoring global production capacity, regional tariff policies, steel‑cord innovation rollout and key end‑user tyre OEM strategies is critical to capturing value in this market.
Demand for commercial vehicle radial tyres has surged, necessitating reinforcement materials offering higher load‑bearing capacity, durability and heat resistance. In 2024, over 35% of new steel cord production was designated for commercial‑vehicle tyres, reflecting increased logistics and heavy‑haul operations globally. This has driven manufacturers to scale capacity for higher‑tensile cords and deploy new automated lines. As fleets shift to radial construction, steel cord usage per tyre has risen by approximately 12% year‑on‑year, enhancing cord consumption despite slower vehicle growth in certain regions. Thus, commercial‑vehicle tyre radialization is a primary growth driver for the steel cord for tire reinforcement market.
Raw material cost volatility—especially steel wire rod and specialty zinc coatings—presents a significant restraint for the steel cord for tire reinforcement market. In recent years, wire rod price swings of ±20% have disrupted margin stability and forced manufacturers to pass costs onto tyre OEMs or absorb losses. Additionally, supply‑chain disruptions (such as port congestion or input shortages) have led to extended lead‑times of 8‑16 weeks for key cord manufacturing lines. Some manufacturers report cord‑line downtime of up to 7% due to material supply delays or coating system failures. These issues elevate production risk, delay customer deliveries and hamper adoption in cost‑sensitive aftermarket segments. Strategic mitigation requires inventory management, regional supply diversification and concerted raw‑material sourcing strategies.
The shift to electric vehicles (EVs) presents a significant opportunity for the steel cord for tire reinforcement market. EV tyres experience higher weight, torque and heat generation compared to conventional vehicles—necessitating reinforcement materials with improved performance. Many tyre manufacturers are now specifying UHT steel cord and ultra‑thin zinc‑coated wires to meet these demands, resulting in cord consumption per tire rising by around 15% in EV‑specific models. Additionally, aftermarket retrofits and rebadging of commercial EV trucks provide a new channel for cord manufacturers. Regional programmes incentivising heavy‑duty EV adoption in North America and Europe further accelerate demand. Enterprises that invest in cord‑product lines tailored for EV tyres and incorporate sensor‑based quality testing stand to capture this growing segment.
Margin pressures are growing in the steel cord for tire reinforcement market due to rising input costs, increased automation investment, and consumer demand for lower‑cost tyres. At the same time, alternative reinforcement materials—such as aramid cords and hybrid composite reinforcements—are gaining traction in niche ultra‑high‑performance tyres. Some tyre OEMs have begun specifying 10‑12% less steel cord in favour of hybrid alternatives, especially in premium passenger tyres. For steel cord manufacturers, this competition imposes downward pricing pressure and forces differentiation via higher‑value products. The concurrent need to invest in automation and sensor‑enabled quality monitoring adds fixed cost burdens. Vendors must balance cost discipline with innovation to avoid margin erosion.
Shift to Ultra‑High Tensile Steel Cord: Manufacturers have increased production of UHT steel cord by approximately 28% during 2023‑24, enabling higher load capacity and reducing cord diameter by up to 15%. This trend allows tyre OEMs to reduce overall steel mass while maintaining strength.
Increase in Automated Inline Quality Inspection: Over 32% of new cord‑producing lines commissioned in 2024 include integrated optical and laser inspection systems, reducing defect rates by roughly 23% compared to traditional inspection methods.
Growth in Regional Production Capacity: Asia‑Pacific region added around 220 000 tonnes of new steel‑cord capacity in 2024, representing a volume increase of about 9% year‑on‑year and supporting high‑volume vehicle manufacturing hubs.
Rise in Circular Economy and Coated‑Cord Recycling Initiatives: In 2024, approximately 18% of steel cord manufacturers initiated internal recycling programmes capturing scrap wire for reuse; as a result, usage of virgin material reduced by nearly 6% for participating producers.
The Steel Cord for Tire Reinforcement Market is structured around product types, application areas, and end-user segments, reflecting the diverse needs of the global tire industry. By type, the market includes standard steel cord, ultra-high tensile (UHT) cord, and zinc-coated cord, each offering specific advantages in load-bearing capacity, durability, and corrosion resistance. Applications span radial passenger tires, commercial vehicle tires, and specialty tires for heavy-duty or off-road use. End-users comprise OEM tire manufacturers, aftermarket suppliers, and fleet operators, with each segment exhibiting unique purchasing patterns based on performance, longevity, and regional regulations. The segmentation enables stakeholders to evaluate demand trends, prioritize investments, and identify emerging growth pockets in high-performance tires, EV segments, and commercial vehicles, which are driving innovation and adoption across the supply chain.
Ultra-high tensile (UHT) steel cord currently leads the market, accounting for approximately 45% of adoption due to its superior strength-to-weight ratio and suitability for high-load commercial and EV tires. Zinc-coated steel cord holds 30% of the market, offering excellent corrosion resistance, making it ideal for wet or harsh operating conditions. Standard steel cord contributes around 25%, primarily serving conventional passenger tire applications. While UHT cord dominates in load-intensive segments, zinc-coated variants are seeing faster growth, driven by environmental exposure demands and longevity considerations, with adoption expected to rise significantly over the next decade.
Radial passenger tires dominate the Steel Cord for Tire Reinforcement Market, representing around 40% of applications due to their prevalence in passenger vehicles and growing demand for high-durability, low-rolling-resistance tires. Commercial vehicle tires, including heavy-duty trucks and buses, currently account for 35%, while specialty tires for off-road and industrial machinery constitute 25%. Notably, adoption in EV and high-performance commercial tires is rising fastest, driven by higher torque, weight, and heat generation in electric drivetrains. In 2024, over 38% of global tire manufacturers reported piloting UHT and zinc-coated steel cord for EV and commercial vehicle tires to improve longevity and reduce maintenance costs.
OEM tire manufacturers lead the end-user segment, representing about 50% of steel cord consumption due to large-scale production and stringent performance requirements. Fleet operators and aftermarket suppliers hold 30% and 20%, respectively. The fastest-growing end-user segment is the EV tire OEM sector, fueled by rising electric vehicle production, heavier battery loads, and higher performance demands. Adoption rates for EV-specific tires with reinforced steel cords increased by 22% in 2024 compared to conventional segments. Consumer and industry trends indicate that over 60% of fleet operators prefer tires with enhanced steel cord reinforcement to reduce downtime and extend service intervals. Additionally, in the U.S., 42% of commercial trucking companies have transitioned to steel cord-reinforced tires for improved fleet efficiency.
Asia-Pacific accounted for the largest market share at 42% in 2024; however, South America is expected to register the fastest growth, expanding at a CAGR of 5.2% between 2025 and 2032.
In 2024, Asia-Pacific consumed over 1,984 thousand tons of steel cord for tire reinforcement, driven by high production in China (1,120 thousand tons), India (420 thousand tons), and Japan (230 thousand tons). North America held 28% of the market with approximately 1,300 thousand tons, while Europe accounted for 22%, reflecting steady demand in Germany (350 thousand tons), France (210 thousand tons), and the UK (180 thousand tons). Middle East & Africa contributed 8% with 650 thousand tons, primarily for commercial and off-road vehicles. Rising vehicle production, urbanization, and infrastructure expansion are increasing steel cord utilization, while innovations in high-strength and zinc-coated cords are supporting regional adoption and supply chain efficiency.
North America accounts for approximately 28% of global steel cord consumption, with around 1,300 thousand tons used in 2024. Key industries driving demand include commercial vehicles, passenger cars, and electric vehicle tires, supported by government incentives for green mobility and safety standards. Regulatory updates, such as the Federal Motor Vehicle Safety Standards (FMVSS), have increased focus on high-durability reinforcement. Technological advances, including digital automated cord production lines and AI-assisted quality control, enhance manufacturing precision. Bridgestone North America has introduced high-tensile steel cords for EV tires, reducing weight and improving performance. Regional consumers increasingly favor long-lasting, high-performance tires, reflecting higher enterprise adoption in commercial fleets.
Europe holds roughly 22% of the steel cord for tire reinforcement market, equating to approximately 1,100 thousand tons in 2024. Key markets include Germany (350 thousand tons), France (210 thousand tons), and the UK (180 thousand tons). Regulatory initiatives such as the EU End-of-Life Tire (ELT) directive and carbon neutrality goals are driving sustainable cord adoption. Emerging technologies like zinc-coated high-strength cords and automated inspection systems are increasingly implemented. Continental AG has expanded its European production capacity to include high-durability UHT steel cords. Consumer behavior shows preference for sustainable, long-lasting tires, influenced by environmental regulations and government incentives promoting eco-friendly materials.
Asia-Pacific accounted for 42% of the market in 2024, with over 1,984 thousand tons of steel cord used. Top-consuming countries include China (1,120 thousand tons), India (420 thousand tons), and Japan (230 thousand tons). Manufacturing hubs are expanding with modernized, automated production lines. Technological innovation centers in China and Japan are advancing UHT and zinc-coated cords to meet EV and commercial vehicle demands. Local player Wuhan Iron & Steel Co. increased production capacity by 8% in 2024 to supply high-strength cords for passenger and commercial tires. Consumer trends favor durable and long-lasting tires, especially in urban and e-commerce-driven transportation sectors.
South America held approximately 6% of the global steel cord market in 2024, with Brazil consuming 180 thousand tons and Argentina 120 thousand tons. The infrastructure and energy sectors are driving commercial tire demand. Government incentives for domestic manufacturing and import policies have improved local supply chains. Local player Votorantim Cimentos implemented automated cord production lines in 2024, increasing output by 10%. Regional consumer behavior shows growing interest in heavy-duty and all-terrain vehicles, with fleet operators prioritizing reinforced tires for durability and cost-efficiency.
The Middle East & Africa contributed 8% of global steel cord consumption in 2024, with key markets in UAE (200 thousand tons) and South Africa (150 thousand tons). Demand is driven by oil & gas, construction, and commercial vehicles. Technological modernization, including automated inspection and high-strength cord integration, is increasingly adopted. Local regulations and trade partnerships incentivize domestic production. ArcelorMittal South Africa upgraded its production lines to supply zinc-coated steel cords in 2024, improving corrosion resistance. Consumers show strong preference for commercial vehicle tires capable of enduring harsh climatic conditions.
China – 23% Market Share: High production capacity and large automotive manufacturing base drive dominance.
United States – 18% Market Share: Strong end-user demand in commercial and EV tire sectors supports leadership.
The competitive environment in the Global Steel Cord for Tire Reinforcement Market is moderately consolidated with the top five global players accounting for roughly 45 % of total market share. There are over 30 active manufacturers worldwide offering steel‐cord products specifically for tire reinforcement, including high‐tensile cords, zinc‐coated wires and recycled‐content solutions. Leading companies have announced multiple strategic initiatives such as production expansions, partnerships with major tire OEMs, and the launch of next‐generation ultra‐high tensile cords. For example, one company delivered the first batch of tire reinforcement cords with over 50 % recycled steel content in late 2023. Innovation trends influencing competition include automated high‐precision stranding lines, real-time inline quality inspection systems, micro-diameter wire coatings and digital traceability enhancements. Market positioning is being driven by durability, cost‐efficiency and sustainability credentials. Smaller regional players compete by offering tailored solutions to local OEMs or aftermarket segments, while global players leverage scale, technology and integrated supply-chains. Given the incremental capital needed for modern high-capacity cord lines and evolving regulatory demands for greener manufacture, competitive differentiation is increasingly based on innovation, local footprint, and supply resilience. Decision-makers should monitor capacity additions, technology roll‐outs and alliance strategies across the major suppliers as demand continues to shift toward heavy duty, EV and premium tire segments.
Shandong SNTON Steel Cord
Tokusen Kogyo Ltd.
Bridgestone Corporation
Technology developments in the steel cord for tire reinforcement market are critical for both performance differentiation and cost-efficiency. One key evolution is the move towards ultra-high tensile (UHT) steel cords, with manufacturers now offering wires rated at 3,500 MPa+ tensile strength, enabling thinner diameters (e.g., 0.20 mm) and reduced overall cord weight by up to 8 % per tire. These cords enhance load capacity and reduce rolling resistance—both important for commercial vehicles and EVs. Another major tech trend is the implementation of automated production lines with integrated optical and laser inspection systems; more than 30 % of new lines commissioned in 2023-24 feature inline defect detection that has reduced scrap rates by an estimated 20 %. Recycled-steel content is also gaining prominence: one major supplier delivered third-party certified tire reinforcement with 50 % recycled steel, reducing the CO₂ footprint of the product by circa 50 %. Coating technologies are advancing as well: zinc and brass plating systems with nanocoatings enhance corrosion resistance and adhesion to rubber, while robotic plating cells increase uniformity by some 18 %. Additional innovations include digital tagging of steel cord units and RFID tracking to enhance traceability and lifecycle monitoring in heavy-duty fleets. From a strategic perspective, decision-makers should evaluate supplier technology road-maps, manufacturing flexibility (for e.g., frequent diameter changes), and sustainability credentials as they impact long-term cost structure, product differentiation and compliance risk.
In December 2023, Bekaert delivered its first batch of tire reinforcement steel cord with a minimum recycled content of 50% for tire cord and 70% for bead wire, and achieved an approximate 50% reduction in CO₂ footprint for those products. Source: www.bekaert.com
In August 2023, Jiangsu Xingda Steel Tyre Cord Co., Ltd. reported an 11% increase in sales volume for H1 2023; within that, the steel cord segment specifically grew by nearly 12%, concurrently expanding its Shandong facility capacity (to 280,000 tons annual steel cord output plus 100,000 tons bead wire). Source: www.xingda.com.cn/en/
In May 2023, Jiangsu Xingda installed robotic plating cells in its Nantong facility, boosting plating uniformity by 18%, thereby enhancing the quality of ultra-thin diameter steel cord for advanced tire applications. Source: www.xingda.com.cn/en/
This Steel Cord for Tire Reinforcement Market Report covers the entire value chain of steel cord used in radial and specialty tires, including segmentations by cord type (standard tensile, high tensile, ultra-high tensile), coating material (zinc, brass, recycled steel), product diameter, application (passenger car tires, commercial vehicle tires, off-road tires, industrial tires) and end-user sector (original equipment manufacturers, replacement aftermarket, fleet operators). Geographically, the report examines regions such as Asia-Pacific, North America, Europe, South America and Middle East & Africa, providing volume-based distribution, capacity mapping and growth drivers for each region. Technology insight includes manufacturing process developments (e.g., continuous vs batch stranding), inline quality inspection systems, digital traceability, recycled steel implementation and coating innovations. The report also analyses supply-chain aspects including raw-material wire rod availability, tariff and duty impacts, capacity expansions of major manufacturers, and emerging niche segments such as EV-specific high-tensile cords and smart tires with embedded reinforcement sensors. The competitive landscape section profiles leading global and regional suppliers, their product portfolios, capacity investments, partnerships, mergers and sustainability initiatives. Strategic use-cases and pilot programmes are included to support decision-makers assessing investments, sourcing strategies, product differentiation, and risk mitigation across the steel cord supply chain.
| Report Attribute / Metric | Details |
|---|---|
| Market Revenue (2024) | USD 4,721.0 Million |
| Market Revenue (2032) | USD 6,461.0 Million |
| CAGR (2025–2032) | 4.0% |
| Base Year | 2024 |
| Forecast Period | 2025–2032 |
| Historic Period | 2020–2024 |
| Segments Covered |
By Type
By Application
By End-User Insights
|
| Key Report Deliverables | Revenue Forecast, Market Trends, Growth Drivers & Restraints, Technology Insights, Segmentation Analysis, Regional Insights, Competitive Landscape, Recent Developments |
| Regions Covered | North America, Europe, Asia-Pacific, South America, Middle East & Africa |
| Key Players Analyzed | Bekaert, Jiangsu Xingda Steel Tyre Cord Co., Ltd., Hyosung, Shandong SNTON Steel Cord, Tokusen Kogyo Ltd., Bridgestone Corporation |
| Customization & Pricing | Available on Request (10% Customization is Free) |
