Dublin, Sept. 01, 2021 (GLOBE NEWSWIRE) -- The "TCF Market in Air Springs: Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026" report has been added to ResearchAndMarkets.com's offering.
An air spring, the most important part of an air suspension system; consists of three major parts: air bellow, bead plate, and piston. The evolution of air springs began during the period of early 1900 when General Motors had built air suspension systems for trucks and airplanes. Since then, the market for air springs has witnessed an excellent journey in the wake of rapid changes in the industry and the growing adoption of air suspension systems in several vehicle types across regions. Now, many nations (both developed and developing ones) have mandated the use of air springs in commercial vehicles. After comprehending the benefits of air springs, the penetration of air suspension systems in the advanced economies has grown up tremendously with the developing nations following the suit.
TCF (Tire Cord Fabric) is a reinforcement fabric used in the bellows of an air spring to provide strength and stability to the rubber compound. It is majorly used as an inner and outer reinforcement layer of the bellow rubber to provide mechanical strength and help rubber to regain its actual shape after contraction or expansion. Polymeric textile fabrics, such as Nylon/Polyamide 66, Polyethylene Terephthalate (PET), and Nylon/Polyamide 6; are used for the reinforcement of the rubber compound to make air bellows.
The incessant growth in the demand for TCFs in air springs was halted by the falling production of automobiles in 2019. In 2020; the market stakeholders were expecting to regain its growth trajectory; however, the pandemic hit the industry hard, causing unimaginable disruption across the supply chain. As a result of that, the TCF market in air springs logged a massive decline of -11.5% in 2020, creating a lag of 4 years in the market.
The long-term outlook of the TCF market in air springs still looks favorable with an expected bounce back in the market from 2021 onwards. The strong market fundamentals like recovery in automotive production and the rolling stock market, increasing penetration of air springs in the emerging economies, and excellent properties of TCF are likely to drive the market to recover at a promising rate of 6.5% to reach US$ 133 million in 2026.
Segments' Analysis
TCF Market in Air Springs: by Platform Type
Based on the platform type, the TCF market in air springs is segmented as light vehicles, M&HCV, trains, and others. Despite experiencing the gravest decline in 2020, M&HCV is expected to remain the biggest demand generator for TCFs for air spring applications during the forecast period. High penetration of air springs in M&HCVs in Europe and North America in the wake of several stringent regulations, mandating the usage of air springs. Various benefits, such as lightweight, further trigger the use of air springs in the M&HCV segment.
TCF Market in Air Springs: by Air Spring Type
Based on the air spring type, the market is segmented as rolling lobe, convoluted, and others. The Rolling lobe is expected to remain the largest segment of the market during the forecast period, because of its high usage in M&HCVs, especially in Europe and North America. However, the dominance of the air spring type widely differs for the Asia-Pacific region due to differences in road conditions.
TCF Market in Air Springs: by Material Type
Based on the material type, the market is segmented as nylon 66, PET, and nylon 6. Nylon 66 is expected to remain the most preferred material type in the market during the forecast period. It is the most desirable material for high-performance air springs, owing to its heat resistance up to 180C, good fatigue resistance, higher strength, and greater adhesion with rubber. Owing to their massive array of advantages, nylon 66 has gained a lead over competing materials in air spring applications.
Regional Analysis
In terms of regions, Europe is expected to remain the largest market for TCFs in Air Springs during the forecast period. Germany, The UK, and Turkey are the growth engines of the European market with the presence of major air spring manufacturers, tier players, and raw material suppliers. Most of the air spring suppliers have their presence in the region to address the emergent needs of OEMs.
Asia-Pacific is likely to regain its 2019-market level at the fastest rate, witnessing the highest growth during the same period. The fastest growth of Asia-Pacific is mainly attributable to the increasing penetration of air springs in the vehicles manufactured in countries like China and India. Also, a large number of air spring manufacturers are planning to set up a manufacturing base in these countries to get the benefit of low-cost manufacturing.
Key Players
The market for TCF in air springs is moderately consolidated as the major companies hold a fair share of the market. There is a high synergy between TCF for tire applications and air spring applications, creating room for players manufacturing TCFs for tire applications. Also, the major players have successfully leaped ahead in the market by performing expansion and providing a wide variety of product portfolios.
The supply chain of this market comprises several nodes including raw material suppliers, TCF manufacturers, air spring manufacturers, and tier players. The following are the key players in the TCF market in air springs arranged alphabetically.
- Grodno Azot OAO
- Hyosung Advanced Materials
- Indorama Corporation
- Kordsa Technical Textile Co. Inc.
- Shenma Industry Co. Ltd.
- Wuxi Taiji Industry Co.
- Zhejiang Hailide New Material Co., Ltd.
Development of durable TCF for critical applications, expansion in untapped and growing markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
Key Topics Covered:
1. Executive Summary
2. Market Environment Analysis
2.1. Contribution of TCF in Air Bellows and Air Springs Market
2.2. Supply-Chain Analysis
2.3. Industry Life Cycle
2.4. Market Drivers
2.5. Market Challenges
3. The COVID-19 Impact Assessment
3.1. Pre-COVID vs Post-COVID TCF Market Assessment in Air Springs
3.2. Key Impacts of the COVID-19 Pandemic on the Entire Ecosystem
3.3. GDP Loss vs Market Loss
3.4. Market Scenario Analysis (Worst-Case, Normal-Case, and Best-Case Scenarios)
4. Market Assessment
4.1. Market Assessment (2015-2026) (US$ Million and Kilotons)
4.1.1. Platform Type Assessment (Light Vehicles, MHCV, Trains, and Others)
4.1.2. Material Type Assessment (Nylon 66, PET, and Nylon 6)
4.1.3. Air Spring Type Assessment (Rolling Lobe, Convoluted, and Others)
4.1.4. Fabric Type Assessment (Tire Cord Fabric and Single-End Fabric)
4.1.5. Regional Assessment (North America, Europe, Asia-Pacific, and Rest of the World)
4.1.6. Country-Wise Assessment (10+ Top Major Countries)
4.2. The dominance of Different Air Spring Type in Different Vehicles/Applications.
4.3. The dominance of Different Materials in Different Vehicles/Applications
5. Competitive Analysis
5.1. Market Consolidation Level
5.2. Regional Competitive Landscape
5.3. Market Share Analysis
5.4. Major Players, their Product Portfolio, and Competitive Advantages
5.5. Mapping of Major Players by Material Type and Vehicle Type
5.6. Geographical Presence
5.7. New Product Launches
5.8. Strategic Alliances: Mergers & Acquisitions, Joint Ventures, Collaborations, etc.
5.9. Porter's Five Forces Analysis
6. Strategic Growth Opportunities
6.1. Market Attractiveness Analysis
6.1.1. Market Attractiveness by Platform Type
6.1.2. Market Attractiveness by Material Type
6.1.3. Market Attractiveness by Air Spring Type
6.1.4. Market Attractiveness by Fabric Type
6.1.5. Market Attractiveness by Region
6.1.6. Market Attractiveness by Country
6.2. Emerging Trends
6.3. Growth Matrix Analysis
6.4. Strategic Implications
6.5. Key Success Factors (KSFs)
7. Company Profile of Key Players (Alphabetically Arranged)
8. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/4j1s83
