ASEAN: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in ASEAN

The ASEAN passenger car tyre market amounted to $X in 2021, almost unchanged from the previous year. Over the period under review, consumption saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the market value increased by 9.1%. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Passenger Car Tyre Production in ASEAN

In value terms, passenger car tyre production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 8.6% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Passenger Car Tyre Exports

Exports in ASEAN

In 2021, shipments abroad of tyres for motor cars was finally on the rise to reach X units after two years of decline. Total exports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -4.4% against 2018 indices. The growth pace was the most rapid in 2014 with an increase of 22% against the previous year. Over the period under review, the exports attained the maximum at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, passenger car tyre exports expanded significantly to $X in 2021. The total export value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 14% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Thailand (X units) was the main exporter of tyres for motor cars, mixing up 65% of total exports. Indonesia (X units) ranks second in terms of the total exports with a 21% share, followed by Malaysia (6.1%) and the Philippines (5.8%). Vietnam (X units) took a little share of total exports.

Exports from Thailand increased at an average annual rate of +7.4% from 2012 to 2021. At the same time, Malaysia (+11.5%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +11.5% from 2012-2021. The Philippines, Vietnam and Indonesia experienced a relatively flat trend pattern. While the share of Thailand (+13 p.p.) and Malaysia (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the Philippines (-2.4 p.p.) and Indonesia (-11.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest passenger car tyre supplier in ASEAN, comprising 59% of total exports. The second position in the ranking was held by Indonesia ($X), with a 27% share of total exports. It was followed by the Philippines, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value in Thailand stood at +5.5%. In the other countries, the average annual rates were as follows: Indonesia (-0.4% per year) and the Philippines (+1.5% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, with an increase of 3.3% against the previous year. In general, the export price, however, continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2019 an increase of 9%. Over the period under review, the export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Indonesia ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+1.1%), while the other leaders experienced mixed trends in the export price figures.

Passenger Car Tyre Imports

Imports in ASEAN

In 2021, supplies from abroad of tyres for motor cars was finally on the rise to reach X units after four years of decline. Total imports indicated a tangible expansion from 2012 to 2021: its volume increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -11.7% against 2016 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 34% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, passenger car tyre imports rose markedly to $X in 2021. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 15%. As a result, imports attained the peak of $X; afterwards, it flattened through to 2021.

Imports by Country

In 2021, Malaysia (X units), distantly followed by Thailand (X units), the Philippines (X units), Singapore (X units), Vietnam (X units) and Indonesia (X units) were the largest importers of tyres for motor cars, together committing 93% of total imports. Cambodia (X units) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cambodia (with a CAGR of +33.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car tyre importing markets in ASEAN were Malaysia ($X), Thailand ($X) and Singapore ($X), with a combined 66% share of total imports. Vietnam, the Philippines, Indonesia and Cambodia lagged somewhat behind, together comprising a further 30%.

Cambodia, with a CAGR of +27.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per unit, increasing by 1.9% against the previous year. Overall, the import price, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2018 when the import price increased by 16% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Singapore ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+1.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform