Global (Bead Wire) Tyre Bead Wire Market 2025 – 2034

Reports Description

According to Custom Market Insights (CMI), The Global Tyre Bead Wire Market size was estimated at USD 1100.16 million in 2021 and is expected to reach USD 1123.43 million in 2022 and is expected to hit around USD 1398.17 million by 2030, poised to grow at a compound annual growth rate (CAGR) of 8.53 % from 2022 to 2030.

The Bead wire edge of a tire that sits on the wheel is referred to as a tire bead (tire bead wire) and is made up of steel wire composed of high-carbon steel whose surface is plated with red copper and bronze. It acquires superior qualities such as strength, flexibility, fatigue property, high adhesion capacity, and great linearity. It has been extensively used in automotive, vehicle manufacturing, motorcycle tires, bicycle tires, and others.

The global Tyre Bead Wire Market is evolving, and companies are now focusing more on strengthening and consolidating R&D activities; thereby increasing the production capacity of Bead wire (tire bead wire) thus, driving the market growth by catering to the need for bead wire (tire bead wire) in various end-use industries.

Growth Factors.

The growing use of bead wire (tire bead wire) in the automotive and transportation sectors will aid market growth.

The expansion of industrialization and urbanization drives the market growth, and an increase in consumer interest in sports cars, racing cars, and bikes have spurred the growth of the bead wire market. In response to this, increased sales of passenger vehicles and commercial automobiles in both developed and developing economies are expected to increase the potential market sales during the outlook market.

The beading wire (tire bead wire) market is driven by urbanization, an increase in disposable income, and growing demand for electric vehicles, which has surged the demand for the bead wire market. Bead wire (tire bead wire) is used extensively in manufacturing electric vehicles cars due to its high mechanical strength and flexibility.

Bead wire (tire bead wire) is gaining popularity in the automotive sector due to its good mechanical and high strength property where it acts as a reinforcing material that helps in protecting the tiers from changing their shape due to air pressure and binds the tire to the rim to avoid vibration while driving.

The automotive and car manufacturing industry is growing rapidly, which has given way to the market’s growth. For instance, according to an article published by India Brand Equity Foundation in July 2022, the Indian passenger car market was valued at US$ 32.70 billion in 2021, and it is expected to reach a value of US$ 54.84 billion by 2027 while registering a CAGR of over 9% during 2022-27. These factors are anticipated to enhance the demand for the beading (tire bead wire) market during the forecast period.

Tyre Bead Wire Market Segmentation.

Tyre Bead Wire Market, segmented by Type

Depending upon the Type, the beading wire (tire bead wire) market is segmented into regular tensile strength (1770-2200mp), high tensile strength (above 2200mp), and others.

The regular tensile strength (1770-2200mp) dominated the market in 2021 and is expected to grow over the forecast period. Regular tensile strength (1770-2200mp) bead tires are extensively used in the automobile industry to manufacture rubber-based tires. In addition to this, the growth of this segment is driven by the high mechanical strength, protection against corrosion and helps in increasing the shelf life of tires, possess greater adhesion, and prevents rust, due to which the demand for regular tensile strength beads tires has witnessed significant growth during the forecast period.

Furthermore, the high tensile strength (above 2200mp) bead wire (tire bead wire) segment is expected to show a significant growth rate during the forecast period. This is attributed to its wide range of applications in the growing sports car and racing bike industry is expected to enhance the overall demand for the market. This is expected to create new opportunities for the growth of the market.

Tyre Bead Wire Market, segment based on Application

Based on Application, the global Tyre Bead Wire Market is studied across the passenger vehicle tire, commercial vehicle tires, motorcycle tires, bicycle tires, and others. It is expected that the global passenger vehicle tire industry segment to hold a dominant position during 2022 -2031.

The Tyre Bead Wire Market is boosting the overall growth of passenger vehicle tires in the automotive industry. This is attributed to the fact that increasing the global population, rising transportation activity, and growing passenger vehicle sales are boosting market growth.

In addition, growing consumer demand for luxurious and exotic cars has escalated the beading wire (tire bead wire), which helps in effectively reducing the tire’s weight and fuel consumption as well as the production cost of tires due to which it has been most preferred bead tires in the manufacturing of passenger vehicles. This is projected to enhance the market growth during the forecast period.

Furthermore, the rising interest of youngster in sporting car, bikes, and bicycle have surged the demand for bead wire tires where it has good adhesion property and bead can able to keep the tire connected to the wheel, due to which the manufacturer most likely prefers the demand for bead wire-based tires for increasing their potentials sales of the market.

Report Scope

Regional Insights

Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Asia-Pacific is the dominant region in the Tyre Bead Wire Market. This region is also anticipated to maintain its dominance throughout the forecast period. Countries such as China, Japan, India, and others significantly contribute to the beading (tire bead wire) market in the region.

Key factors for the growth in transportation activity, increase in the disposable income among people, growing demand for vehicles, and growing consumer preference for the automobile industry in both developed and developing nation such as China, India, South Korea, and others has surged the demand for Tyre Bead Wire Market.

In response to this, several manufacturers have increased their production capacities for the bead wire tire industry due to growing market sales. For instance, according to an article published in Economics Times in January 2022, ICRA maintains a volume demand growth estimate for the tire industry at 13-15% in FY22. These factors may enhance the demand for the tire bead wire market, thus, offering the most remunerative opportunities for the future.

In addition, countries such as Japan and Taiwan are constantly engaged in expanding their electrical & automation manufacturing output, where bead wire (tire bead wire) is widely employed as a protecting material in electric and fuel-based cars. For instance, according to a report published by Hennessy Funds, Japan accounts for around 30% market for supplying factory automation products in the world. These factors are escalating the demand for bead wire (tire bead wire) in Asia-Pacific.

North America and Europe show considerable growth during the forecast period. The U.S. and Canada account for a major share of the automotive, motorcycle, and bicycle sectors. There are several manufacturing industries in Germany, the U.K., and other countries in Europe where these companies have increased their production capacities for the beading wire (tire bead wire) used in various end-use industries, including automotive, transportation, electric vehicles, motorcycle, and among others.

Recent Development

• In Dec 2021, Rajratan Global Wire Limited announced to set up of a new manufacturing facility for tire bead wire in Tamil. The company has signed an MoU with the state government.
• In June 2021, Bekaert Lipetsk (Russia) announced a plant expansion, including a new production line (bead wire) and an increase in tire cord manufacturing capacity. The plant extension is scheduled to begin production in the first half of 2022.

Key Players 

• Bekaert
• TATA Steel
• Camesa Wire
• PRTI
• KLEIN TOOLS
• Gustav Wolf
• Kiswire
• Belgo Bekaert Arames
• WireCo World Group
• Heico Wire Group.

COVID-19 Analysis

The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses to lives and the economy around the globe.

The Tyre Bead Wire Market has had little impact due to the wake of the COVID-19 pandemic, owing to the rise in cases of COVID-19, the implementation of emergency protocols and shutdown of various operations and facilities have been observed during 2020.

Due to the spread of the coronavirus pandemic, the manufacturer has faced challenges in terms of operation and supply chain due to government restrictions during the lockdown.

However, the beading wire (tire bead wire) market faced several difficulties with material supply chain disruptions, and labor shortages, in 2020. In addition, stringent government guidelines on transportation and strict imposition of lockdown have dampened the overall market growth.

Furthermore, to control the surge of novel coronavirus cases, there is a drastic shift of investments from other sectors toward the automotive sector. Also, several bead wire (tire bead wire) based product manufacturing companies have either shut down or shrank their operations due to the risk of infection among the workforce.

This has temporarily hampered the demand and supply chain of the beading wire tire bead wire market. In the first quarter of 2021, the market for bead wire (tire bead wire) has experienced significant growth due to an increase in the demand for bead wire (tire bead wire) chemicals in the automotive, motorcycle,  bicycle manufacturing industries and other end-use industry worldwide, compared to that in 2020.

Segments covered in the report

By Type

• Regular Tensile Strength (1770-2200MP)
• High Tensile Strength (Above 2200MP)
• Others

By Application

• Passenger Vehicle Tire
• Commercial Vehicle Tires
• Motorcycle Tire
• Bicycle Tire
• Others

On the basis of Geography

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America