In 2023, Germany imported tyre cord fabric of high tenacity viscose rayon yarn at an approximate value of $64 million. The forecast for subsequent years shows a consistent decline, with anticipated imports shrinking from $62.619 million in 2024 to $56.282 million by 2028. This decreasing trend represents an average annual reduction of about 2.5% when considering the compound annual growth rate (CAGR) over this five-year period.
Future trends to watch for include:
- The impact of technological advancements in alternative materials that might reduce reliance on traditional viscose rayon yarns.
- Potential shifts in automotive industry demand due to an increase in electric vehicle production, which could influence tyre specifications.
- Global economic factors and trade policies that could affect import costs and volumes.