In 2023, China's import of tyre cord fabric of high tenacity viscose rayon yarn stood at approximately 7.40 million kilograms. From 2024 to 2028, forecasts indicate a steady growth from 7.73 to 9.13 million kilograms. Year-on-year variations show an increase of around 5% annually, reflecting a healthy demand trajectory. Over this five-year period, the compound annual growth rate (CAGR) is expected to be approximately 4.2%, indicating consistent growth prospects in the sector.
Future trends to watch:
- Technological advancements in tyre manufacturing processes that could impact fabric import needs.
- Shifts in global trade policies or tariffs affecting supply chains.
- China's evolving automotive industry, including potential impacts of electric and autonomous vehicles.