EU: Tyre Cord Fabric Market 2023

Tyre Cord Fabric Market Size in the EU

The EU tyre cord fabric market was estimated at $X in 2021, with an increase of 11% against the previous year. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.0% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; afterwards, it flattened through to 2021.

Tyre Cord Fabric Production in the EU

In value terms, tyre cord fabric production stood at $X in 2021 estimated in export price. The total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -7.1% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 22% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Tyre Cord Fabric Exports

Exports in the EU

In 2021, approx. X tons of tyre cord fabric of high tenacity yarn were exported in the European Union; jumping by 19% compared with 2020 figures. Over the period under review, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, tyre cord fabric exports skyrocketed to $X in 2021. In general, exports, however, saw a slight decrease. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Luxembourg was the major exporter of tyre cord fabric of high tenacity yarn in the European Union, with the volume of exports recording X tons, which was near 35% of total exports in 2021. Poland (X tons) took a 16% share (based on physical terms) of total exports, which put it in second place, followed by the Czech Republic (13%), Germany (8%), Portugal (7.4%) and Italy (6.7%). Spain (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to tyre cord fabric exports from Luxembourg stood at -2.8%. At the same time, the Czech Republic (+6.5%), Poland (+3.7%), Portugal (+2.7%) and Germany (+2.5%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +6.5% from 2012-2021. By contrast, Italy (-1.4%) and Spain (-5.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Czech Republic, Poland, Germany and Portugal increased by +6.2, +5.2, +1.9 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest tyre cord fabric supplying countries in the European Union were Luxembourg ($X), Poland ($X) and Italy ($X), with a combined 60% share of total exports. The Czech Republic, Portugal, Germany and Spain lagged somewhat behind, together comprising a further 28%.

Among the main exporting countries, the Czech Republic, with a CAGR of +3.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per ton, rising by 8.9% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 13%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+2.0%), while the other leaders experienced a decline in the export price figures.

Tyre Cord Fabric Imports

Imports in the EU

In 2021, the amount of tyre cord fabric of high tenacity yarn imported in the European Union soared to X tons, jumping by 22% against the previous year. The total import volume increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, tyre cord fabric imports surged to $X in 2021. In general, imports, however, recorded a mild decrease. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The purchases of the ten major importers of tyre cord fabric of high tenacity yarn, namely Germany, Poland, Romania, Luxembourg, the Czech Republic, Hungary, Italy, Spain, France and Slovakia, represented more than two-thirds of total import. The following importers - Slovenia (X tons) and the Netherlands (X tons) - each finished at a 3.9% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Luxembourg (with a CAGR of +27.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Romania ($X) and Poland ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 44% of total imports. Hungary, the Czech Republic, Italy, France, Spain, Luxembourg, Slovakia, Slovenia and the Netherlands lagged somewhat behind, together comprising a further 52%.

Luxembourg, with a CAGR of +17.9%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per ton, rising by 5.8% against the previous year. In general, the import price, however, saw a pronounced decline. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hungary ($X per ton), while Luxembourg ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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