Core Viewpoint - The steel cord industry in China is experiencing fluctuations in market size due to changes in product specifications, price volatility, and corporate pricing strategies, with a projected market size of approximately 232.97 billion yuan by 2025, reflecting a 3% year-on-year growth [1][13]. Industry Overview - Steel cord is a specialized fine steel wire made from high-carbon steel, crucial for various types of tires, including passenger cars, light trucks, heavy trucks, engineering machinery, and aircraft [1]. - The market size for steel cord in China has shown significant volatility, recovering from 148.9 billion yuan in 2016 to 194.21 billion yuan in 2019, before declining in 2020 due to the COVID-19 pandemic [1][12]. - The market rebounded to 222.68 billion yuan in 2021 and has continued to grow since, supported by the automotive and tire industries and government policies promoting new energy vehicles [1][12]. Industry Development History - The steel cord industry in China began in the 1960s, with significant advancements occurring in the 1980s and 1990s, leading to the establishment of key production enterprises [5]. - By the 21st century, the industry matured, with a high market concentration and a shift towards technological innovation and quality improvement to enhance competitiveness [5][11]. Industry Policies - The Chinese government has implemented various policies to promote the development of the steel cord industry, focusing on green and low-carbon transformation in traditional industries [7]. - Policies aim to optimize production processes and enhance energy efficiency, which are crucial for the industry's sustainable growth [7]. Industry Chain - The upstream of the steel cord industry includes raw materials like steel wire rods and production equipment, while the midstream involves the manufacturing of steel cords [8]. - The downstream applications are primarily in the production of radial tires for various vehicles, indicating a focused market demand [8]. Current Market Situation - The domestic steel cord market has transitioned from a supply-demand imbalance to a situation where domestic production meets the needs of the tire industry, reducing reliance on imports [11]. - In 2023, China's steel cord production exceeded 3 million tons, marking a 20.69% year-on-year increase, with projections for continued growth in production and demand through 2025 [11][12]. Competitive Landscape - The steel cord industry features a multi-layered competitive structure, with multinational companies like Bekaert leading in high-end markets, while domestic leaders such as Xingda International and Hengxing Technology dominate mid to high-end segments [13][14]. - Smaller specialized companies are focusing on niche markets and differentiated products, while the industry is witnessing a consolidation trend towards larger, more technologically advanced firms [13]. Future Trends - The industry is expected to advance towards higher strength and lightweight materials, integrating new technologies for improved performance [15]. - Sustainable manufacturing practices and circular economy principles are becoming central to production processes, aiming to reduce energy consumption and carbon emissions [16]. - The integration of smart manufacturing technologies, including IoT and AI, is anticipated to enhance production efficiency and supply chain management [17].
2026年中国钢帘线行业发展历程、政策、市场规模、重点企业及趋势研判:国产替代推动自给率提升,钢帘线市场规模超200亿元[图]
Chan Ye Xin Xi Wang·2026-02-18 23:22