ASEAN: Aircraft Tyre Market 2024

Aircraft Tyre Market Size in ASEAN

In 2021, the ASEAN aircraft tyre market decreased by -10.7% to $X, falling for the fourth consecutive year after four years of growth. In general, consumption recorded a mild contraction. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Aircraft Tyre Production in ASEAN

In value terms, aircraft tyre production expanded markedly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when the production volume increased by 28% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Aircraft Tyre Exports

Exports in ASEAN

In 2021, overseas shipments of tyres for aircraft increased by 55% to X units for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, aircraft tyre exports soared to $X in 2021. Total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand dominates exports structure, accounting for X units, which was approx. 94% of total exports in 2021. It was distantly followed by Singapore (X units), committing a 5.8% share of total exports.

Exports from Thailand increased at an average annual rate of +2.0% from 2012 to 2021. At the same time, Singapore (+19.3%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +19.3% from 2012-2021. While the share of Singapore (+4.3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-2.6 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest aircraft tyre supplier in ASEAN, comprising 92% of total exports. The second position in the ranking was held by Singapore ($X), with a 7.1% share of total exports.

In Thailand, aircraft tyre exports increased at an average annual rate of +6.4% over the period from 2012-2021.

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, picking up by 7.1% against the previous year. Export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, aircraft tyre export price decreased by -23.5% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 43% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Singapore ($X per unit), while Thailand amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+4.3%).

Aircraft Tyre Imports

Imports in ASEAN

For the third year in a row, ASEAN recorded decline in purchases abroad of tyres for aircraft, which decreased by -11.7% to X units in 2021. In general, imports showed a deep downturn. The most prominent rate of growth was recorded in 2014 with an increase of 173%. As a result, imports attained the peak of X units. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, aircraft tyre imports declined to $X in 2021. Over the period under review, imports showed a deep slump. The most prominent rate of growth was recorded in 2014 when imports increased by 25% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Singapore (X units) was the main importer of tyres for aircraft, committing 45% of total imports. It was distantly followed by Thailand (X units), Indonesia (X units), Malaysia (X units) and Vietnam (X units), together achieving a 49% share of total imports. The Philippines (X units) followed a long way behind the leaders.

Singapore experienced a relatively flat trend pattern with regard to volume of imports of tyres for aircraft. Malaysia (-4.9%), Indonesia (-5.7%), Vietnam (-8.2%), the Philippines (-12.6%) and Thailand (-13.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Singapore increased by +21 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest aircraft tyre importing markets in ASEAN were Singapore ($X), Thailand ($X) and Indonesia ($X), with a combined 77% share of total imports.

Singapore, with a CAGR of +0.9%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per unit, remaining stable against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 77%. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the Philippines ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+12.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform