The Global Steel Cord Market was valued at USD 5.1 Billion in 2024 and is projected to reach USD 7.5 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 5.9% during the forecast period. This growth is being driven by rising vehicle production worldwide, increasing demand for radial tires, and technological advancements in high-tensile steel cord solutions for both passenger and commercial vehicles.

As the automotive industry continues to evolve with electric vehicles, heavier loads, and demands for greater fuel efficiency, the spotlight is on the key steel cord manufacturers who are driving innovation, durability, and performance. In this blog, we profile the Top 10 Companies in the Steel Cord Market—a mix of global leaders, specialized producers, and technology pioneers shaping the future of tire reinforcement and industrial applications.

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🔟 1. Bekaert

Headquarters: Zwevegem, Belgium
Key Offering: Steel Cord for Tires, High Tensile Cords, Bead Wire

Bekaert is the global market leader in steel cord production, supplying advanced reinforcement solutions to major tire manufacturers worldwide. With over 140 years of expertise in steel wire transformation, the company serves the automotive, construction, and industrial sectors with high-performance products known for superior tensile strength and fatigue resistance.

Innovation Initiatives:

• Development of ultra-high tensile steel cords for next-generation EV tires

• Global expansion of manufacturing footprint with focus on sustainable production

• Advanced coating technologies for enhanced corrosion resistance

Download FREE Sample Report: Steel Cord Market – View in Detailed Research Report

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9️⃣ 2. Jiangsu Xingda Steel Cord

Headquarters: Xinghua, Jiangsu Province, China
Key Offering: Radial Tire Steel Cord, Bead Wire, Hose Wire

Jiangsu Xingda Steel Cord is one of the largest producers of steel cord in Asia, serving over 300 clients across 40 countries. The company operates massive production bases and maintains strong partnerships with leading tire manufacturers, focusing on cost-effective, high-quality solutions for passenger car, truck, and off-the-road tires.

Innovation Initiatives:

• Expansion of high-tensile and super-tensile product lines

• Vertical integration for raw material security and cost control

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8️⃣ 3. Hyosung Advanced Materials

Headquarters: Seoul, South Korea
Key Offering: High-Performance Steel Cord, Tire Cord Fabrics

Hyosung is a major player in advanced materials, delivering premium steel cord solutions that meet the demanding requirements of high-performance and electric vehicle tires. The company emphasizes research and development to create lighter, stronger cords that improve rolling resistance and durability.

Innovation Initiatives:

• Investment in specialized cords for electric and hybrid vehicles

• Strategic global production facilities including new plants in Southeast Asia

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7️⃣ 4. ArcelorMittal

Headquarters: Luxembourg
Key Offering: Steel Cord, Wire Rod for Cord Production

As one of the world’s leading steel producers, ArcelorMittal leverages its integrated operations to supply high-quality materials for steel cord manufacturing. The company supports the automotive supply chain with reliable, sustainable steel solutions tailored for tire reinforcement applications.

Innovation Initiatives:

• Focus on low-carbon steel production processes

• Partnerships with tire makers for customized cord specifications

Download FREE Sample Report: Steel Cord Market – View in Detailed Research Report

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6️⃣ 5. Shandong SNTON Steel Cord

Headquarters: Shandong Province, China
Key Offering: Steel Cord for Radial Tires, Industrial Wires

Shandong SNTON has established itself as a significant force in the Asian steel cord market through capacity expansion and backward integration. The company supplies a wide range of products to both domestic and international tire producers, emphasizing quality consistency and competitive pricing.

Innovation Initiatives:

• Acquisition of upstream facilities for raw material control

• Development of specialized cords for heavy-duty applications

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5️⃣ 6. Tokusen Kogyo

Headquarters: Hyogo, Japan
Key Offering: Precision Steel Cord, Ultra-High Tensile Wires

Tokusen is renowned for its technological expertise and high-precision steel cord products. The Japanese manufacturer focuses on premium segments, supplying advanced solutions for high-performance tires and specialized industrial uses where consistency and quality are paramount.

Innovation Initiatives:

• Patented technologies for superior fatigue resistance

• Collaborations on next-generation tire designs

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4️⃣ 7. Bridgestone Corporation

Headquarters: Tokyo, Japan
Key Offering: In-house Steel Cord, Tire Reinforcement Materials

Bridgestone, a global tire leader, produces significant volumes of steel cord for its own manufacturing needs while also supplying the broader market. Their vertical integration allows for optimized tire performance through tightly controlled cord specifications.

Innovation Initiatives:

• Development of cords optimized for low rolling resistance tires

• Advancements in sustainable material sourcing

Download FREE Sample Report: Steel Cord Market – View in Detailed Research Report

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3️⃣ 8. Sumitomo Electric Industries

Headquarters: Osaka, Japan
Key Offering: Steel Cord, Specialty Wires

Sumitomo Electric brings extensive materials science expertise to the steel cord sector. The company is known for reliable, high-quality products that support premium tire applications and diversifying industrial uses.

Innovation Initiatives:

• Research into advanced alloy compositions

• Focus on lightweighting solutions for automotive efficiency

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2️⃣ 9. Shougang Century

Headquarters: Beijing, China
Key Offering: Steel Cord for Tires and Industrial Applications

Part of the Shougang Group, this company benefits from strong steel production capabilities and focuses on serving the rapidly growing Chinese and export tire markets with dependable steel cord products.

Innovation Initiatives:

• Capacity expansions to meet domestic and international demand

• Improvements in product consistency and performance

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1️⃣ 10. Hubei Fuxing New Material

Headquarters: Hubei Province, China
Key Offering: Steel Cord, Wire Products

Hubei Fuxing has grown into a notable supplier through focused production and quality improvements. The company serves both tire manufacturers and other industrial segments requiring reinforced steel materials.

Innovation Initiatives:

• Modernization of manufacturing processes

• Development of application-specific cord variants

Get Full Report Here: Steel Cord Market – View in Detailed Research Report

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🌍 Outlook: The Future of Steel Cord Is Stronger and Smarter

The steel cord market is experiencing steady transformation. While serving traditional automotive needs, manufacturers are investing in advanced materials, automation, and sustainable production methods to meet evolving industry requirements.

📈 Key Trends Shaping the Market:

• Increasing demand for high-tensile and ultra-tensile cords in EV tires

• Capacity expansions in Asia to support global tire production growth

• Technological focus on weight reduction and corrosion resistance

• Vertical integration and strategic partnerships across the supply chain

Get Full Report Here: Steel Cord Market – View in Detailed Research Report

The companies listed above are not only supplying critical reinforcement materials—they are powering the performance, safety, and innovation of modern mobility worldwide.