Kordsa Flags Growing Asian Competition in Tire Reinforcement Export Markets

Turkish reinforcement materials group Kordsa has reported continued volume pressure in its tire-reinforcement business, citing production cutbacks and plant closures by tire makers, as well as intensifying competition from Asia-Pacific suppliers. The company’s second-quarter tire-reinforcement sales were $145 million, broadly level with the same period last year, despite lower production volumes. Kordsa linked the volume losses partly to “production optimisation and factory closures by tire manufacturers” in the Europe, Middle East & Africa (EMEA) and North American regions. The group also highlighted increasing competitive pressure from Asian reinforcement-material suppliers, citing “the significant shift of the price-volume pressure created by Asia-Pacific competition toward export markets.” Kordsa’s overall group sales increased 10.1% year-on-year to $217 million in the second quarter, while adjusted earnings (EBITDA) rose 75.7% to $26 million. The company attributed the earnings improvement partly to cost-reduction projects and the recovery of PT Indo Kordsa following the flooding that hit the group’s Indonesian operations in March 2025.