Global bead wire market is expected to reach USD XX.XX Million by 2025, at a CAGR of X.XX% from 2018 to 2025. Increasing global automobiles sales are generating a huge demand for the automobile tires, thus driving the global bead wire market.
Bead wire is used in all kinds of automobile and aircraft tires. The foremost function of bead wire is to hold the tire on the rim and to resist the action of the inflated pressure, which constantly tries to force it off. Bead wire is the crucial link through which the vehicle load is transferred from rim to the tire, which prevents vibration during driving. The quality of the bead wire significantly affects the safety, strength and the durability of tire. Bead wire is basically a drawn steel wire, manufactured from the quality wire rods with high carbon content. Bead wire’s surface is coated with copper or bronze which ensures proper adhesion with the used rubber compound.
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- The base year for the study has been considered 2017, historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The global bead wire market is analysed on the basis of value (USD Million), volume (Kilotons), consumption (Kilotons), imports (Kilotons) and exports (Kilotons).
- The study delivers a comprehensive analysis of global bead wire market by diameter, application and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used in order to recognize the competitive scenario in the global bead wire market. This report incorporates the industry analysis which is focused on providing an extensive view of the bead wire market.
- The study also includes attractiveness analysis of diameter, application and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the bead wire market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Growing demand for the automobiles worldwide
- High load distortion resistance & rim slippage resistance properties of bead wires
- Longer life as well as better maneuverability and durability of the radial tires
- High rolling resistance offered by the bead wired tires
- Low lateral stiffness causing tire to sway
- Increase in research and development activities
- Advent of electric cars
- Growing use of Kevlar as an alternative to the bead wires
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Owing to the presence of large tire manufacturing industry, the ready availability of raw materials, as well as flourishing demand for the automobiles and commercial vehicles in the region, the Asia Pacific region emerged as the leader in the global demand for the bead wires in 2017. However, Europe region is projected to grow at a robust pace over the forecast period, on account of its well-established automobile and aircraft manufacturing industry.
Even though the factors such as growing demand for the automobiles, longer life as well as better maneuverability and durability of the radial tires as well as high load distortion resistance & rim slippage resistance properties of bead wires are driving the global bead wire market, the low lateral stiffness and high rolling resistance offered by the bead wired tires are anticipated to hamper the market growth.
Major players in the global bead wire market are Bekaert, Kiswire, Rajratan Global Wire Limited, Heico Wire Group, TATA Steel, WireCoWorldGroup, Shandong Daye, Xingda, Snton, Xinglun, GUIZHOU Wire Rope, King Industrial, Bedmutha Industries, ArcelorMittal, BMZ, Sumitomo Electric Industries, Aarti Steels, Chuangda, Hyosung, Kiswire among others.
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