According to ChemAnalyst report, “Global Nylon Tire Yarn (NTY) Market Analysis: Demand & Supply, Type, End-User Industries, Sales Channel, Regional Demand 2015-2030” The Global Nylon Tire Yarn (NTY) market has grown significantly in the historic period of 2015-2022 and is anticipated to grow at a CAGR of 4.14% during the forecast period till 2030. Growing demand for Nylon Tire Yarn by the automotive industry across the globe is expected to drive the global Nylon Tire Yarn market in upcoming years.

Nylon Tire Yarn is a synthetic yarn that is soft and lightweight in nature. It possesses high tensile strength and shows high durability. Nylon Tire Yarn is extensively used in the making of cord fabrics that are embedded in a layer of rubber all-round the tire. The automotive industry is the major end-user industry driving the overall demand for Nylon Tire Yarn across the globe. The filaments of Nylon Yarns are further coated with water and oil in order to make sure of dimensional stability, which is then air quenched and solidified, offering outstanding tensile strength, elasticity, and low shrinkage under adverse conditions. Nylon Tire Yarns are exclusively used for the manufacturing of tire cords using yarn twisting, weaving, and dipping. The automotive industry is the major end-user industry driving the overall demand for Nylon Tire Yarn across the globe. Growth in emerging economies and a rise in dispensable incomes are anticipated to propel the demand for Nylon Tire Yarn in the forecast period.

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The global Nylon Tire Yarn (NTY) market is segmented based on type, end-use, sales channel, and region. Based on type, Nylon Tire Yarn (NTY) market is segmented into Dried Filament Yarn, Greige Fabric Yarn, and Dipped Fabric Yarn. Among these, Dried Filament Yarn is the leading segment.

Based on the end-user industry, the global Nylon Tire Yarn (NTY) market is segmented into Personal, Light Commercial, and Heavy Duty Automotive. Among these, the Personal sector is leading the market with a market share of approximately 62% in 2022.

Regionally, Asia Pacific is dominating the Nylon Tire Yarn market because of the due to the growing demand for high-performance tire fabric and automotive. With growing industrialization and increased manufacturing of automotives, a surge in the demand for NTY in the forecasted period is anticipated. Increasing population and per capita income in emerging economies is another factor propelling demand growth for nylon tire yarn in the Asia Pacific. Moreover, Asia Pacific also leads in terms of producing Nylon Tire Yarn (NTY). China is the biggest hub for automobile manufacturing and hence leading consumer of tires.

Read Full Report Here: https://www.chemanalyst.com/industry-report/nylon-tire-yarn-market-611

According to ChemAnalyst report, “Global Nylon Tire Yarn (NTY) Market Analysis: Demand & Supply, Type, End-User Industries, Sales Channel, Regional Demand 2015-2030”, Major players in the global Nylon Tire Yarn (NTY) market are BASF SE, Centuryenka, SRF, Starpolyrubber, Kolon Industries, Toray, and Others.

“Nylon Tire Yarn displays properties like strong wear resistance and high toughness due to which it is heavily used as a raw material to produce automobile tires. Rapid urbanization and increasing per capita income in major economies is propelling the demand for Nylon Tire Yarn for long-run automobiles across the globe. Regionally, the Asia Pacific region is the major consumer of the Nylon Tire Yarn (NTY). As China is the largest manufacturer of automotives in the Asia Pacific region, many companies merging with manufacturing plants in China thereby increasing the overall production capacity in the Asia Pacific region. ”said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.

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