The Tyre Cord Fabric market in Romania has experienced significant fluctuations over the past decade regarding high-tenacity yarn used for nylon, other polyamides, polyesters, or viscose rayon. From 2013 to 2019, the market demonstrated steady growth, peaking in 2019 at 123.82 million Euros. However, from 2020, a decline began, reaching 80.074 million Euros by 2023, marking a year-on-year decline of 12.33% for the year and a compound annual growth rate (CAGR) of -8.06% over the last five years.
Future trends to watch for:
- The potential for technological advancements in production methods.
- Changes in automotive and tire manufacturing demands.
- Economic conditions affecting market recovery post-2023 downturn.
- Environmental regulations potentially impacting material selection and market dynamics.
