The import of tyre cord fabric of high tenacity nylon or other polyamides yarn to the US is on an upward trend. In 2023, the import value was significantly lower than what is forecasted from 2024 onwards, indicating robust growth expectations. The year-on-year growth rates reveal steady increases, with variations hovering between 2% to 2.5% through 2028. This signifies a consistent upward trajectory.
The Compound Annual Growth Rate (CAGR) over the forecasted five years suggests an average annual growth near 2.0%.
Future trends to watch for:
- Potential impacts of trade agreements or tariffs on import dynamics.
- Emerging alternatives or substitutes for high tenacity nylon affecting demand.
- Technological advancements in tire production that might influence material requirements.