Industrial Yarn Products for V-Belts and Industrial Hoses Market

Industrial Yarn Products for V-Belts and Industrial Hoses Market Outlook

As per rigorous research by ChemView Consulting, our analysts forecast that the global industrial yarn products for the v-belts and industrial hoses market is anticipated to reach a valuation of US $4,718.1 million and will grow at 4% CAGR from 2023 to 2033.

Key Findings on the Industrial Yarn Products for V-Belts and Industrial Hoses Market 

1. Which is the largest market for industrial yarn products for v-belts and industrial hoses?

The biggest market for industrial yarn products for v-belts and industrial hoses is in East Asia. As per our analysis, East Asia holds nearly 35.1% share of the industrial yarn products for the V-belts and industrial hoses market.

2. What is the largest application segment within the industrial yarn products for the v-belts and industrial hoses market?

As per ChemView Consulting, the largest segment by application is tires. As per our analysis, this segment accounts for nearly 68.4% of total revenues.

3. At what rate are the industrial yarn products for v-belts and industrial hoses market expected to grow?

The industrial yarn products for v-belts and industrial hoses market is expected to grow at a CAGR of 4% during the period 2023–2033.

4. What are the major trends influencing the industrial yarn products for the v-belts and industrial hoses market?

• Customization: Increasing demand for tailored solutions is driving manufacturers to offer customizable industrial yarn products. This trend fulfils the specific demands of various sectors and applications.
• Digitalization and Automation: The production of industrial yarn is becoming more automated and digitally operated. This increases productivity, lowers production costs, and maintains constant quality.

5. Who are the leading players in the industrial yarn products for v-belts and industrial hoses market?

The key companies in the industrial yarn products for v-belts and industrial hoses market are Trützschler, PIRTEK USA, SRF Limited, Toray Group, Olbo and Mehler Inc., Teijin Frontier Co., Ltd., Glanzstoff, Kordsa Industries, AB Svenskt Konstsilke, Cordenka GmbH and Co. KG, R.D. Abbott Company, Inc., Barnet, OC Oerlikon Management AG, TP Industrial yarns BV, Atlantex, SRF Limited, and Kordsa Industries.

Key Drivers for Industrial Yarn Products for V-Belts and Industrial Hoses Demand

• Ongoing advances in material science have resulted in the production of stronger and more durable yarns, thus improving the performance and lifetime of V-belts and hoses, and contributing to market growth.
• In addition, the expansion of the automotive industry, particularly the production of heavy vehicles and machinery, needs high-quality industrial hoses and V-belts, driving demand for industrial yarn products.
• Moreover, the necessity for reliable and long-lasting V-belts and hoses is vital in demanding industrial applications. Thus, industrial yarn products with increased durability and resistance have gained popularity.
• Furthermore, industries are increasingly focusing on energy-efficient technologies to reduce operational expenses. Specialised V-belts and hoses made of innovative yarn materials can help save energy, increasing their demand.

Key Challenges Inhibiting Demand for Industrial Yarn Products for V-Belts and Industrial Hoses 

• Economic downturns or recessions can result in decreased demand for industrial products as industrial activity slows. This might have a negative influence on the sales and profitability of industrial yarn goods.
• Moreover, shifts in consumer preferences towards alternative products or industries might impact demand for V-belts and industrial hoses, affecting yarn requirements indirectly.

Key Challenges and Opportunities for Industrial Yarn Products for V-Belts and Industrial Hoses Manufacturers

• Manufacturers may face challenges due to the scarcity and rising costs of raw materials such as high-quality yarns and rubber compounds, which are required for the production of long-lasting V-belts and industrial hoses.
• However, expanding into international markets allows firms to tap into regions with rising industrialization and infrastructural development, resulting in increased demand for industrial yarn products for V-belts and industrial hoses.

Country/Region-wise Insights

US Industrial Yarn Products for V-Belts and Industrial Hoses Market Forecast 

• The growing need for long-lasting, high-performance v-belts and industrial hoses in industries such as manufacturing, automotive, and construction in the US market is projected to observe significant growth in the estimated period.
• Additionally, the introduction of new yarn materials that improve the strength and resilience of industrial hoses and v-belts as a result of technological improvements has increased demand for these products.

Europe Industrial Yarn Products for V-Belts and Industrial Hoses Market Outlook 

• A greater focus on sustainability and environmentally friendly production techniques in Europe is anticipated to drive sales in the market over the assessment period.
• In addition, the region’s strong manufacturing base, which includes a wide range of industries such as automotive and construction, has resulted in growing demand for high-quality industrial yarn products.

Japan Industrial Yarn Products for V-Belts and Industrial Hoses Market Forecast

• A robust manufacturing sector, a constant pursuit of technological improvements, and an expanding need for high-quality industrial products in Japan are anticipated to drive the market over the forecasted period.
• Additionally, as Japan’s industries emphasize efficiency and innovation, the demand for robust industrial yarn for v-belts and hoses grows.

China and India Industrial Yarn Products for V-Belts and Industrial Hoses Market Forecast

• An increasing awareness of the importance of sustainability and environmental concerns in China and India is anticipated to fuel the market over the forecast period. China and India’s industrial yarn products for the v-belts and industrial hoses market are likely to account for a leading share of the global industrial yarn products for the v-belts and industrial hoses market.
• In addition, a boom in construction and manufacturing activity has resulted in an increasing demand for durable and resilient V-belts and industrial hoses, which in turn stimulates the demand for high-quality industrial yarns.

Industrial Yarn Products for V-Belts and Industrial Hoses Market Outlook and Forecast by Segmentation

By Product Type 

Based on product type, the dipped single-end cords segment is expected to remain at the forefront of industrial yarn products for v-belts and industrial hoses market share over the assessment period. The growth is mainly because dipped single-end cords have high tensile strength and longevity. This makes them excellent for applications such as V-belts and industrial hoses, where mechanical stress and load-bearing requirements are high. Their capacity to withstand wear and tear over time is a significant advantage, making them a popular choice among manufacturers.

Furthermore, dipped single-end cords are frequently treated to withstand environmental variables such as moisture, heat, and chemicals. This resistance allows them to work effectively even in harsh situations, extending the life of the V-belts and hoses they use.

By Application

Based on application, the tires segment is set to account for 68.4% of the industrial yarn products for v-belts and industrial hoses market share over the assessment period. The growth is because tire technology is continuously improving to satisfy the demands for increased performance, safety, and fuel efficiency. This increases the demand for tougher, more lasting materials, such as specialised industrial yarns. As tire manufacturers develop innovative tire designs and materials, they demand superior industrial yarns for reinforcement, ensuring that this category remains at the forefront of the market.

In addition, the globalisation of trade has resulted in increased movement of goods over long distances. This has increased the demand for transportation, which in turn has increased the demand for reliable tires and industrial hoses. Therefore, industrial yarns are critical components in the production of these items.

Which Company Owns the Largest Share in the Industrial Yarn Products for V-Belts and Industrial Hoses Market?  

The key companies in the industrial yarn products for v-belts and industrial hoses market are Trützschler, PIRTEK USA, SRF Limited, Toray Group, Olbo and Mehler Inc., Teijin Frontier Co., Ltd., Glanzstoff, Kordsa Industries, AB Svenskt Konstsilke, Cordenka GmbH and Co. KG, R.D. Abbott Company, Inc., Barnet, OC Oerlikon Management AG, TP Industrial yarns BV, Atlantex, SRF Limited, and Kordsa Industries.

Recent Developments:

• In October 2022, Trützschler, a German manufacturer of textile machines, expanded its popular OPTIMA extrusion system portfolio to supply the industrial yarn (IDY) market.
• In July 2021, PIRTEK USA, the world’s top provider of superior fluid transfer solutions, including hydraulic hose and fittings, developed a new industrial hose product line to expand the products and services accessible to clients in the petrochemical, mining, and pharmaceutical industries.

As per our analysis, the companies that hold the largest share of the market are

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Kordsa Industries 

Founded in 1973 and located in Pendik, Istanbul, Turkey, it is a global player in tire reinforcing technologies, with goods such as industrial nylon and polyester yarn, tire cord fabric, and single-end cord.

SRF Limited

Founded in 1970 and headquartered in Gurugram, it is a multi-business chemicals corporation that manufactures industrial and specialised intermediates.

TP Industrial yarns BV

Established in 2001 and located in the Netherlands, it is a company that specialises in textile raw materials such as yarn making, supplying, and exporting.

OC Oerlikon Management AG

Founded in 1906 and with headquarters in Pfäffikon, Freienbach, Switzerland, it is a global leader in materials and surface solutions.

Toray Group

Founded in 1926 and with headquarters in Chuo City, Tokyo, Japan, its initial business sectors included fibres and textiles, as well as plastics and chemicals.

What Makes this Report More Insightful than Others?

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Summary

The industrial yarn products for v-belts and industrial hoses market is projected to reach a significant value of US $4,718.1 million by 2033, driven by a robust 4% CAGR during the period 2023–2033. Key industry players actively contributing to its growth are Trützschler, PIRTEK USA, SRF Limited, Toray Group, Olbo and Mehler Inc., Teijin Frontier Co., Ltd, Glanzstoff, Kordsa Industries, AB Svenskt Konstsilke, Cordenka GmbH and Co. KG, R.D. Abbott Company, Inc., Barnet, OC Oerlikon Management AG, TP Industrial yarns BV, Atlantex, SRF Limited, and Kordsa Industries. The largest market segment by application is tires, while East Asia emerges as the dominant region in this market.