Tire cord fabric in air springs market forecast at $133 million in 2026

Raipur, India – Stratview Research announces the launch of the research report, TCF Market in Air Springs by Platform Type (Light Vehicle, M&HCV, Train and Others), by Air Spring Type (Rolling Lobe, Convoluted, and Others), by Material Type (Nylon 66, PET, and Nylon 6), by Fabric Type (Single End Cord and Tire Cord Fabric), and by Region (North America, Europe, Asia Pacific, and Rest of the World), Size, Share, Trend, Forecast, Competitive Analysis and Growth Opportunity: 2021-2026.

This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s TCF market in air spring realities and future market possibilities for the forecast period of 2021 to 2026. After continuous interest in our air springs market report from the industry stakeholders, we have tried to further accentuate our research scope to the TCF market in air springs to provide the most crystal-clear picture of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low hanging fruits available in the market, as well as formulate growth strategies.

Air spring, the most important part of an air suspension system, consists of three major parts: air bellow, bead plate, and piston. The evolution of air springs began during the period of early 1900 when General Motors had built air suspension systems for trucks and airplanes. Since then, the market for air springs has witnessed an excellent journey in the wake of rapid changes in the industry and the growing adoption of air suspension systems in several vehicle types across regions. Now, many nations (both developed and developing ones) have mandated the use of air springs in commercial vehicles. After comprehending the benefits of air springs, the penetration of air suspension systems in the advanced economies has grown up tremendously with the developing nations following the suit.

TCF (tire cord fabric) is a reinforcement fabric used in the bellows of an air spring to provide strength and stability to the rubber compound. It is majorly used as an inner and outer reinforcement layer of the bellow rubber to provide mechanical strength and help rubber to regain its actual shape after contraction or expansion. Polymeric textile fabrics, such as nylon/polyamide 66, polyethylene terephthalate (PET) and nylon/polyamide 6, are used for the reinforcement of the rubber compound to make air bellows.

The incessant growth in the demand for TCFs in air springs was halted by the falling production of automobiles in 2019. In 2020, the market stakeholders were expecting to regain its growth trajectory; however, the pandemic hit the industry hard, causing unimaginable disruption across the supply chain. As a result of that, the TCF market in air springs logged a massive decline of -11.5 percent in 2020, creating a lag of four years in the market.

The long term outlook of the TCF market in air springs still looks favorable with an expected bounce back in the market from 2021 onwards. Strong market fundamentals such as recovery in automotive production and the rolling stock market, increasing penetration of air springs in the emerging economies and excellent properties of TCF are likely to drive the market to recover at a promising CAGR of 6.5 percent to reach $133 million in 2026.

Based on the platform type, M&HCV is expected to remain the biggest demand generator for TCFs for air spring applications during the forecast period. High penetration of air springs in M&HCVs in Europe and North America in the wake of several stringent regulations, mandating the usage of air springs. Various benefits, such as lightweight, further trigger the use of air springs in the M&HCV segment.

Based on the air spring type, rolling lobe is expected to remain the largest segment of the market during the forecast period, because of its high usage in M&HCVs, especially in Europe and North America. However, dominance of the air spring type widely differs for the Asia-Pacific region due to differences in road conditions.

Based on the material type, Nylon 66 is expected to remain the most preferred material type in the market during the forecast period. It is the most desirable material for high performance air springs, owing to its heat resistance up to 180°C, good fatigue resistance, higher strength, and greater adhesion with rubber. Owing to their massive array of advantages, nylon 66 has gained a lead over competing materials in air spring applications.

In terms of regions, Europe is expected to remain the largest market for TCFs in Air Springs during the forecast period. Germany, the U.K. and Turkey are the growth engines of the European market with the presence of major air spring manufacturers, tier players, and raw material suppliers. Most of the air spring suppliers have their presence in the region to address the emergent needs of OEMs.

Asia Pacific is likely to regain its 2019 market level at the fastest rate, witnessing the highest growth during the same period. The fastest growth of Asia Pacific is mainly attributable to the increasing penetration of air springs in the vehicles manufactured in countries like China and India. Also, several air spring manufacturers are planning to set up a manufacturing base in these countries to get the benefit of low cost manufacturing.

The market for TCF in air springs is moderately consolidated as the major companies hold a fair share of the market. There is a high synergy between TCF for tire applications and air spring applications, creating room for players manufacturing TCFs for tire applications. Also, major players have successfully leaped ahead in the market by performing expansion and providing a wide variety of product portfolios.

The supply chain of this market comprises several nodes including raw material suppliers, TCF manufacturers, air spring manufacturers, and tier players. Key players in the TCF market in air springs are Grodno Azot OAO, Hyosung Advanced Materials, Indorama Corporation, Kordsa Technical Textile Co. Inc., Shenma Industry Co. Ltd., Wuxi Taiji Industry Co. and Zhejiang Hailide New Material Co., Ltd.

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