The Global Steel Tire Cord market will see significant growth as automobile companies ramp up the production of automobiles, commercial trucks, and electric vehicles, while developing better and lighter tire technology. “According to a recent study by SNS Insider, the global Steel Tire Cord Market size valued at USD 5.11 billion in 2025, is anticipated to grow to USD 9.56 billion by 2035, registering a CAGR of 6.59% over the 2026–2035 forecast period.”
Steel cords used in tires have become a necessity when reinforcing contemporary radial tires, enhancing their longevity and ability to bear more loads while ensuring safety. Increasing needs for durable tires along with increased investment in automotive industries has ensured better prospects in the future.
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In addition, the industry receives a boost through technology improvements that have been made in the field of high tensile and ultra-tensile steel tire cords, which enable tire producers to make tires more fuel-efficient and lightweight at the same time. The worldwide shipments of steel tire cords in 2025 reached 3.5 million metric tons.
Electric Mobility and Advanced Tire Technologies Create Long-Term Growth Opportunities
Electrification of the automotive sector at an unprecedented rate is paving the way for steel tire cord producers. The torque produced by electric vehicles is higher, which puts more strain on their tires. Hence, there is an increased requirement for innovative material solutions, which can provide better performance, stability, and durability of tires.
The producers of steel cords are also focusing on manufacturing ultra-tensile steel cords and eco-friendly coating techniques that will help to achieve sustainability goals. Alternative and cobalt-free coating techniques are becoming increasingly popular among tire producers.
Moreover, the continuous growth of logistics, mining, agriculture, and construction sectors around the world is leading to an increased requirement of heavy-duty tires that work well in tough situations. This is creating constant growth prospects for high quality steel tire cord products suitable for commercial and off-road applications.
Key Market Insights Highlight Evolving Demand Across Tire Segments
Depending on the tire type, radial tires held the majority market share of 57.48% in 2025 and would continue to have the fastest growth rate through 2035 as producers opt to substitute traditional bias tires with more effective radial tires.
In terms of application, passenger cars were estimated to hold 43.41% market demand in 2025 owing to consistent global production of automobiles and strong replacement of tires. The OTR segment was expected to grow at the fastest rate owing to increased use of mining, construction, and agricultural equipment.
Based on material type, HT steel cord held a 34.53% market share in 2025 due to their strength, flexibility, and effectiveness in manufacturing. UT steel cord was expected to grow in the highest CAGR owing to the requirement of light materials which can carry heavy loads and work effectively in premium tires.
Material Innovation and Sustainable Manufacturing Accelerate Industry Transformation
However, innovation still plays a significant role as manufacturers develop more robust reinforcing materials that will make tires more durable yet lower the rolling resistance. New developments in metallurgy and wire design are making it possible for manufacturers to accomplish more with less material.
Sustainability trends have also started to affect product development. Major manufacturers are constantly developing new eco-friendly coating technology, recycling of steel, and energy-efficient manufacturing techniques in order to conform to the growing number of environmental regulations.
The advent of digital manufacturing processes, automation, and collaboration between tire and steel cord manufacturers is enhancing product quality, supply chain resiliency, and efficiencies of production in the sector.
Asia Pacific Leads Global Expansion While North America Maintains Strong Demand
The Asia Pacific region is forecast to command a market revenue share of 47.66% in 2025 and will also be the leading and fastest growing regional market till 2035. The high activity of automotive manufacturing in China, India, Japan, and South Korea along with high investment in electric vehicle manufacturing and manufacturing of advanced tires will continue to drive regional dominance.
China continues to lead as the largest country level market owing to its large capacity of automotive manufacturing, export-oriented manufacturing industry and growth in the commercial vehicle industry. India emerges as one of the fastest growing markets in the region as vehicle ownership rates, infrastructure development, and tire manufacturing grow.
North America holds a significant position in terms of the market owing to high demand for replacement tires, premium automotive manufacturing and commercial transportation industry. Europe is also a developed market and is driven by sustainability efforts, premium automotive manufacturing and advancements in tire technology.
Industry Participants Focus on Capacity Expansion and Advanced Reinforcement Solutions
The competition environment is also changing with increased capacity of production, strengthened OEM cooperation, and significant investments into reinforcement materials. Product development, sustainable production methods, and region growth will be key factors in solving the issue of increased global demand.
Key companies operating in the global Steel Tire Cord Market include Bekaert, Bridgestone Corporation, Hyosung Advanced Materials, Jiangsu Xingda Steel Tyre Cord Co., Ltd., Tokusen Kogyo Co., Ltd., Kiswire Ltd., Sumitomo Electric Industries Ltd., Saarstahl AG, Shougang Century Holdings Limited, Daye Co. Ltd., Henan Hengxing Science & Technology Co. Ltd., Hubei Fuxing Technology Co. Ltd., Junma Group, Qingdao HL Group Ltd., Shandong Xinhao Tire Materials Co. Ltd., Tokai Carbon Co. Ltd., Usha Martin Ltd., WireCo WorldGroup, Zhejiang Tianlun Steel Cord Co. Ltd., and ArcelorMittal.
An SNS Insider analyst Himanshu Sharma commented, “The continued transition toward electric mobility, expansion of global automotive manufacturing, and growing demand for high-performance radial tires are creating sustained opportunities for steel tire cord manufacturers. Companies investing in ultra-tensile reinforcement technologies, sustainable coating innovations, and resilient global supply chains will be well positioned to capitalize on the next phase of market growth.”
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