HS Code:
Tire cord fabric of high tenacity yarn of nylon or other polyamides, polyesters, or viscose rayon (HS Code: 5902) is a specialized textile material used primarily in the manufacturing of tires for reinforcement purposes. These fabrics are made from high-strength synthetic fibers such as nylon, polyester, or rayon, which provide durability, tensile strength, and resistance to wear and tear. This product category is critical to the automotive and industrial sectors, as tire cord fabrics enhance the structural integrity and safety of tires under high-stress conditions. The global trade of this product is driven by demand from tire manufacturers, automotive industries, and emerging markets with growing transportation needs.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
UN Comtrade Database
USD 350 million
29.2% of total trade of total trade
Increasing
USD 200 million
16.7% of total trade of total trade
Stable
USD 150 million
12.5% of total trade of total trade
Decreasing
USD 120 million
10.0% of total trade of total trade
Increasing
USD 100 million
8.3% of total trade of total trade
Stable
Average Rate
6.5%
Highest Rate
12% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Shift towards sustainable materials
Increased demand for eco-friendly tire cord fabrics made from recycled polyester and bio-based materials due to environmental regulations and consumer preferences.
2021-2023
Growth in electric vehicle (EV) market
Rising production of EVs has boosted demand for specialized tire cord fabrics that support lightweight and high-performance tires.
2022-2023
Technological advancements in fiber strength
Innovations in high-tenacity yarn production have improved the durability and efficiency of tire cord fabrics, driving market competitiveness.
2020-2022
The European Union imposed provisional anti-dumping duties ranging from 8% to 10% on tire cord fabric imports from China to protect domestic manufacturers from unfair pricing practices.
March 2023
This has led to a shift in sourcing to other Asian countries like South Korea and Vietnam, increasing costs for EU tire manufacturers in the short term.
A leading South Korean manufacturer announced a USD 50 million investment in developing tire cord fabrics from recycled materials, aligning with global sustainability goals.
July 2022
This development is expected to set a benchmark for the industry, encouraging competitors to adopt sustainable practices and potentially reducing production costs in the long term.
Ongoing trade disputes between the US and China have led to higher tariffs and supply chain disruptions for tire cord fabric imports into the US market.
October 2022
US tire manufacturers are exploring alternative suppliers in Europe and Southeast Asia, potentially reshaping global trade patterns for this product category.