Asia-Pacific: Aircraft Tyre Market 2024

Aircraft Tyre Market Size in Asia-Pacific

In 2021, the Asia-Pacific aircraft tyre market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Aircraft Tyre Production in Asia-Pacific

In value terms, aircraft tyre production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 13% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Aircraft Tyre Exports

Exports in Asia-Pacific

In 2021, after four years of decline, there was significant growth in shipments abroad of tyres for aircraft, when their volume increased by 36% to X units. In general, exports, however, continue to indicate a mild slump. Over the period under review, the exports attained the maximum at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, aircraft tyre exports skyrocketed to $X in 2021. Overall, exports showed a relatively flat trend pattern. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand was the main exporting country with an export of around X units, which reached 72% of total exports. It was distantly followed by Japan (X units), comprising a 16% share of total exports. Singapore (X units), Australia (X units), Hong Kong SAR (X units) and China (X units) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to aircraft tyre exports from Thailand stood at +2.0%. At the same time, Singapore (+19.3%) and Australia (+3.0%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +19.3% from 2012-2021. By contrast, China (-8.4%), Japan (-8.9%) and Hong Kong SAR (-11.7%) illustrated a downward trend over the same period. Thailand (+19 p.p.) and Singapore (+3.6 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR and Japan saw its share reduced by -3% and -16.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), Japan ($X) and Singapore ($X) were the countries with the highest levels of exports in 2021, with a combined 93% share of total exports.

Singapore, with a CAGR of +18.8%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, therefore, remained relatively stable against the previous year. Over the last nine years, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2019 when the export price increased by 19%. 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.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+5.4%), while the other leaders experienced more modest paces of growth.

Aircraft Tyre Imports

Imports in Asia-Pacific

In 2021, purchases abroad of tyres for aircraft decreased by -4.4% to X units, falling for the seventh year in a row after three years of growth. Over the period under review, imports saw a deep downturn. The most prominent rate of growth was recorded in 2014 with an increase of 39%. As a result, imports attained the peak of X units. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, aircraft tyre imports reduced to $X in 2021. Overall, imports showed a deep setback. The pace of growth was the most pronounced in 2016 with an increase of 12% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China represented the major importer of tyres for aircraft in Asia-Pacific, with the volume of imports accounting for X units, which was near 31% of total imports in 2021. It was distantly followed by Australia (X units), Singapore (X units), India (X units), Hong Kong SAR (X units), Japan (X units) and Thailand (X units), together comprising a 48% share of total imports. The following importers - Indonesia (X units), South Korea (X units), Malaysia (X units), Taiwan (Chinese) (X units) and New Zealand (X units) - together made up 14% of total imports.

From 2012 to 2021, average annual rates of growth with regard to aircraft tyre imports into China stood at -2.7%. At the same time, New Zealand (+1.4%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +1.4% from 2012-2021. Singapore experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-2.7%), Japan (-3.0%), Australia (-3.7%), Malaysia (-4.9%), Indonesia (-5.7%), South Korea (-6.3%), India (-8.2%), Hong Kong SAR (-9.9%) and Thailand (-13.8%) illustrated a downward trend over the same period. China (+6.1 p.p.), Singapore (+4.6 p.p.) and Australia (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while India, Hong Kong SAR and Thailand saw its share reduced by -2.4%, -3.9% and -6.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported tyres for aircraft in Asia-Pacific, comprising 32% of total imports. The second position in the ranking was held by Singapore ($X), with a 10% share of total imports. It was followed by Australia, with a 10% share.

In China, aircraft tyre imports decreased by an average annual rate of -1.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Singapore (+0.9% per year) and Australia (-0.1% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per unit, which is down by -4.6% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the import price increased by 30%. Over the period under review, import prices reached the maximum at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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