The steel tire cord market is growing steadily due to increasing vehicle production, rising demand for radial and tubeless tires, and growing adoption in heavy commercial and off-the-road vehicles, supported by advancements in high-tensile cord technologies.
Austin, April 21, 2026 (GLOBE NEWSWIRE) — The Steel Tire Cord Market size is valued at USD 5.11 Billion in 2025 and is projected to reach USD 9.56 Billion by 2035, growing at a CAGR of 6.59%.
The market is expected to rise between 2026 and 2035 due to a number of factors, including increased automobile production, a preference for radial and tubeless tires, an increase in the demand for steel tire cords from HCVs and off-road vehicles, and developments in ultra tensile cord material technology.
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The U.S. Steel Tire Cord Market is projected to grow from USD 2.06 Billion in 2025 to USD 4.11 Billion by 2035, at a CAGR of 7.98%.
Strong levels of automobile production, strong radial and tubeless tire penetration rates, growing demand from heavy commercial vehicles and off-road vehicles, and continuous investment in ultra-tensile cords and green coatings have all contributed to the industry’s expansion.
Rising Vehicle Production and Tire Demand Boost Market Expansion Globally
The primary reasons propelling the growth of the steel tire cord market are the increased production of automobiles and the increased demand for durable and effective tires. The use of these cords is expanding significantly as a result of the introduction of novel steel tire cords, which are currently being used by OEMs, tire manufacturers, and after-market businesses to increase the strength, durability, and load-carrying capability of their goods. The growth of logistics and transportation infrastructure, the increasing need for heavy-duty and fuel-efficient vehicles, and the expanding use of radial tires have all contributed to this. The market is expanding as a result of developments in high-tensile and ultra-tensile cords and coatings like brass.
Segmentation Analysis:
By Tire Type
Radial Tires held the largest market share of 57.48% in 2025 and is also expected to grow at the fastest CAGR of 6.96% during 2026–2035 driven by its outstanding features such as greater fuel efficiency, increased durability, superior traction, and longer tread life than traditional tires.
By Application / Vehicle Type
Passenger cars (PC) dominated with 43.41% market share in 2025 due to the large number of vehicles produced and the increasing usage of radial tires, which require reinforcement with steel tire cords. Off-the-road (OTR) vehicles are projected to record the fastest CAGR of 9.05% through 2026–2035 owing to the increased construction activities, mining operations, and mechanization of agriculture in developing nations.
By Material Type / Tensile Strength
High tensile (HT) steel cord accounted for the highest market share of 34.53% in 2025 owing to its ideal strength-flexibility-cost combination that made it widely applicable in passenger cars, light commercial vehicles, and conventional radial tires. Ultra tensile (UT) steel cord is expected to grow at the fastest CAGR of 7.76% during the forecast period owing to the rising preference for high-performance and high-load tires in commercial and off-the-road vehicles.
By Coating Type
Brass-coated steel cord dominated with a 62.61% share in 2025 owing to its high adhesiveness with rubber compounds, which helped achieve higher bonding strength and longevity. Cobalt-free / eco-friendly coatings are anticipated to expand at the fastest CAGR of 8.25% through 2026–2035 due to the introduction of stricter regulations within the industry and companies’ efforts to switch to sustainable manufacturing techniques.
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Regional Insights:
With a 47.66% market share, the Asia-Pacific region leads the steel cord tire industry. With the biggest market share and the fastest growth rate, a compound annual growth rate (CAGR) of 7.03% through 2035, this illustrates its dominance in the sector. The strong growth rates are explained by rising automobile production in nations like China, India, Japan, and South Korea as well as rising demand for passenger cars, two-wheelers, and heavy-duty commercial vehicles.
Due to better tire consumption and frequent replacement, North America holds a significant share of the tire cord steel industry. Due to its well-established automotive industry, effective logistics system, and demand for heavy vehicle tires, the United States makes up the majority. Through international logistics and replacement markets, Canada increases its contribution.
Key Players:
- 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.
- ArcelorMittal
Recent Developments:
In September 2025, Bekaert’s Ultra & Mega Tensile Steel Cord Solutions won the 2025 China Green Point Award for advancing low carbon tire manufacturing. The innovation reduces rolling resistance, improves fuel efficiency, and incorporates recycled steel to support circular economy principles.
In January 2026, Bridgestone announced new eco friendly tire reinforcement initiatives, integrating cobalt free coatings into selected product lines to align with sustainability standards.
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Exclusive Sections of the Report (The USPs):
- Production Demand & End-Use Segmentation Metrics – helps you understand market dynamics through insights on OEM vs aftermarket demand, adoption across vehicle segments, production cycle times, and the growing shift toward radial tires driving steel cord consumption.
- Advanced Material Innovation & Technology Adoption Analysis – helps you identify growth opportunities through adoption of ultra-tensile cords, eco-friendly coating technologies, R&D investment trends, patent activity, and digitalization in manufacturing processes.
- Performance, Safety & Reliability Benchmarks – helps you evaluate product efficiency through metrics on cord durability, reduction in rolling resistance, failure rates, regulatory recalls, and increasing sustainability certifications.
- Regulatory Compliance & Policy Impact Insights – helps you assess industry alignment with global standards through compliance rates, approval timelines, government incentives for sustainable technologies, and collaborative initiatives across the value chain.
- Supply Chain Dynamics & Regional Production Analysis – helps you identify regional strengths and risks through production concentration, export trends, delivery lead times, raw material price volatility, and expansion of manufacturing bases in emerging markets.
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