ASEAN: Tyre Market 2024

Tyre Market Size in ASEAN

The ASEAN tyre market rose to $X in 2022, picking up by X% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Tyre Production in ASEAN

In value terms, tyre production shrank slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Tyre Exports

Exports in ASEAN

For the seventh consecutive year, ASEAN recorded growth in overseas shipments of tyres, which increased by X% to X units in 2022. Total exports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2013 indices. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, tyre exports rose to $X in 2022. Total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2015 indices. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

Thailand represented the key exporter of tyres in ASEAN, with the volume of exports reaching X units, which was near X% of total exports in 2022. Vietnam (X units) took the second position in the ranking, distantly followed by Indonesia (X units). All these countries together took approx. X% share of total exports. The Philippines (X units) and Malaysia (X units) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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

In Thailand, tyre exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (X% per year) and Vietnam (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, remaining constant against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, the export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Tyre Imports

Imports in ASEAN

After two years of growth, overseas purchases of tyres decreased by X% to X units in 2022. Total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X units, and then reduced modestly in the following year.

In value terms, tyre imports rose remarkably to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by X%. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

Malaysia (X units) and the Philippines (X units) were the key importers of tyres in 2022, resulting at approx. X% and X% of total imports, respectively. It was distantly followed by Thailand (X units), Cambodia (X units), Vietnam (X units), Indonesia (X units) and Singapore (X units), together comprising a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tyre importing markets in ASEAN were Indonesia ($X), Malaysia ($X) and Vietnam ($X), together accounting for X% of total imports. Thailand, the Philippines, Singapore and Cambodia lagged somewhat behind, together accounting for a further X%.

The Philippines, with a CAGR of X%, 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 more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the import price, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2018 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per unit), while Cambodia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform