The Automotive Steel Cords Market was valued at USD 4893.50 million in 2023 and is projected to reach USD 5977.61 million by 2034, growing at a Compound Annual Growth Rate (CAGR) of 2.90% during the forecast period (2025–2034). This growth is being driven by the expanding tire industry, rising vehicle production, and technological advancements in steel cord manufacturing.
As the automotive sector shifts towards lightweight, energy‑efficient designs, the spotlight is on the key steel cord suppliers who are driving innovation, quality, and sustainability across the global market. In this blog, we profile the Top 10 Companies in the Automotive Steel Cords Market—a mix of industry leaders, emerging players, and technology pioneers shaping the future of automotive tires.
Report Overview
Steel cord is the fine steel wire strand or rope for special purposes, which are made of superior high‑carbon steel and whose surface is plated with brass. Steel cord is a Freight Car Use mainly reinforcing the casting and at the same time keeping the tire flexible enough to resist shocks and to improve comfort of tires.
Global Automotive Steel Cords market size was estimated at USD 4893.50 million in 2023 and is projected to reach USD 5977.61 million by 2034, exhibiting a CAGR of 2.90% during the forecast period.
North America Automotive Steel Cords market size was USD 1275.11 million in 2023, at a CAGR of 2.49% during the forecast period of 2025 through 2030.
This report provides a deep insight into the global Automotive Steel Cords market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.
The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Automotive Steel Cords Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.
In a word, this report is a must‑read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Automotive Steel Cords market in any manner.
Automotive Steel Cords Market – View in Detailed Research Report
Top 10 Companies in the Automotive Steel Cords Market
1️⃣ Bekaert
Headquarters: Ghent, Belgium
Key Offering: High‑performance steel cords for passenger cars and commercial vehicles
Bekaert is a global leader in advanced steel cord technology, providing high‑quality strands that enhance tire durability and fuel efficiency. Their products are widely used by major tire manufacturers worldwide.
Sustainability & Growth Initiatives:
- Investing in high‑tensile, low‑weight cord solutions
- Collaborations with OEMs to reduce vehicle weight
- Commitment to carbon‑neutral manufacturing by 2035
2️⃣ Xingda Steel Cord
Headquarters: Guangzhou, China
Key Offering: Normal and high‑tensile steel cords for automotive and industrial applications
Xingda Steel Cord is a leading Chinese manufacturer known for its cost‑effective production and rapid delivery. The company supplies a wide range of steel cords to automotive OEMs across Asia.
Sustainability & Growth Initiatives:
- Expansion of production capacity to meet rising demand
- Adoption of energy‑efficient smelting technologies
- Strategic partnerships with tire makers in Southeast Asia
3️⃣ Kiswire
Headquarters: Tokyo, Japan
Key Offering: High‑tensile steel cords for high‑performance tires
Kiswire focuses on premium cord solutions that deliver superior tread life and safety. Their products are preferred by premium tire brands.
Sustainability & Growth Initiatives:
- Research into ultra‑thin cord designs
- Partnerships with electric vehicle manufacturers
- Carbon footprint reduction targets for 2028
4️⃣ Hyosung
Headquarters: Seoul, South Korea
Key Offering: Versatile steel cords for passenger cars and commercial vehicles
Hyosung provides a broad portfolio of steel cords that support both traditional and hybrid vehicle platforms, emphasizing durability and cost efficiency.
Sustainability & Growth Initiatives:
- Investment in low‑energy manufacturing processes
- Development of recyclable cord components
- Expansion into the European market through joint ventures
5️⃣ Shandong SNTON Steel Cord
Headquarters: Shandong, China
Key Offering: Normal and high‑tensile steel cords for automotive and industrial sectors
Shandong SNTON is recognized for its robust production lines and adherence to international quality standards, serving a global customer base.
Sustainability & Growth Initiatives:
- Implementation of waste‑reduction programs
- Investment in automation and digital manufacturing
- Strategic alliances with tire manufacturers in India and Southeast Asia
6️⃣ Bridgestone
Headquarters: Osaka, Japan
Key Offering: Proprietary steel cords for high‑performance tires
Bridgestone is a leading tire manufacturer that also produces its own steel cords, ensuring tight integration between cord design and tire performance.
Sustainability & Growth Initiatives:
- Development of low‑rolling‑resistance cord systems
- Commitment to 100% renewable energy in production by 2030
- Research into biodegradable cord coatings
7️⃣ Shougang Century
Headquarters: Beijing, China
Key Offering: High‑tensile steel cords for automotive and industrial use
Shougang Century leverages its steel expertise to supply high‑quality cords that meet stringent automotive safety standards.
Sustainability & Growth Initiatives:
- Adoption of green steel production methods
- Expansion into the Middle East and Africa through strategic partnerships
- Investment in R&D for next‑generation cord materials
8️⃣ Tokusen
Headquarters: Osaka, Japan
Key Offering: High‑tensile steel cords for automotive tires
Tokusen focuses on precision manufacturing, delivering cords that meet the exacting demands of premium tire brands.
Sustainability & Growth Initiatives:
- Implementation of lean manufacturing processes
- Partnerships with electric vehicle OEMs to optimize cord design
- Carbon intensity reduction program targeting 2029
9️⃣ Tokyo Rope MFG
Headquarters: Tokyo, Japan
Key Offering: Custom steel cord solutions for automotive and industrial applications
Tokyo Rope MFG specializes in tailor‑made cords that cater to niche automotive segments, including off‑road and specialty vehicles.
Sustainability & Growth Initiatives:
- Research into bio‑based coating technologies
- Expansion of production capacity in Japan and Southeast Asia
- Collaboration with research institutions for material innovation
🔟 Sumitomo Electric Industries
Headquarters: Tokyo, Japan
Key Offering: Advanced steel cords for automotive and electronic applications
Sumitomo Electric Industries integrates its expertise in electronics and materials to produce cords that support both automotive and industrial needs.
Sustainability & Growth Initiatives:
- Development of smart cord systems with embedded sensors
- Investment in renewable energy for manufacturing plants
- Strategic collaborations with OEMs for lightweight vehicle solutions
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Outlook
The Automotive Steel Cords market is poised for steady growth as the global vehicle fleet expands and manufacturers seek lighter, more efficient tire solutions. With increasing emphasis on sustainability, steel cord producers are investing in advanced materials and low‑energy manufacturing processes to meet regulatory standards and consumer expectations.
Key Trends Shaping the Market
- Adoption of high‑tensile and ultra‑thin cord technologies to improve tire performance and reduce vehicle weight.
- Growing demand from electric vehicle manufacturers for lightweight, high‑strength cords.
- Strategic partnerships between steel cord suppliers and tire OEMs to accelerate product development.
- Implementation of digital supply chain solutions for better demand forecasting and inventory management.
- Focus on circular economy initiatives, including recycling of steel cord waste.
These trends collectively drive the market toward innovation, sustainability, and competitive differentiation.
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