Asia-Pacific: Passenger Car Tyre Market 2025

Passenger Car Tyre Market Size in Asia-Pacific

In 2021, the Asia-Pacific passenger car tyre market decreased by -1.9% to $X for the first time since 2015, thus ending a five-year rising trend. The market value increased at an average annual rate of +2.6% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then reduced slightly in the following year.

Passenger Car Tyre Production in Asia-Pacific

In value terms, passenger car tyre production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2019 with an increase of 9.2% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Passenger Car Tyre Exports

Exports in Asia-Pacific

In 2021, shipments abroad of tyres for motor cars was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, showed a slight shrinkage. The pace of growth appeared the most rapid in 2014 when exports increased by 35% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, passenger car tyre exports soared to $X in 2021. In general, exports, however, showed a relatively flat trend pattern. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China (X units), Thailand (X units) and South Korea (X units) represented roughly 72% of total exports in 2021. Japan (X units) held a 9.7% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (6.9%). The following exporters - Taiwan (Chinese) (X units) and India (X units) - together made up 6% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Thailand (with a CAGR of +7.4%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Thailand ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 72% of total exports. Japan, Indonesia, Taiwan (Chinese) and India lagged somewhat behind, together accounting for a further 23%.

India, with a CAGR of +7.3%, 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 more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per unit, surging by 10% against the previous year. Over the last nine years, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2016 an increase of 17% against the previous year. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.0%), while the other leaders experienced more modest paces of growth.

Passenger Car Tyre Imports

Imports in Asia-Pacific

In 2021, approx. X units of tyres for motor cars were imported in Asia-Pacific; growing by 11% on the year before. The total import volume increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when imports increased by 23%. The volume of import peaked at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, passenger car tyre imports soared to $X in 2021. The total import value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of passenger car tyre imports in 2021 were Australia (X units), Japan (X units), China (X units), South Korea (X units) and Malaysia (X units), together amounting to 65% of total import. Thailand (X units) ranks next in terms of the total imports with a 5.3% share, followed by Taiwan (Chinese) (4.6%). The Philippines (X units), New Zealand (X units), Pakistan (X units), Singapore (X units), Vietnam (X units) and India (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Philippines (with a CAGR of +9.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), Japan ($X) and South Korea ($X) were the countries with the highest levels of imports in 2021, with a combined 48% share of total imports.

South Korea, with a CAGR of +9.1%, recorded the highest growth rate of 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 Asia-Pacific amounted to $X per unit, increasing by 7.9% against the previous year. In general, the import price, however, continues to indicate a slight shrinkage. The pace of growth was the most pronounced in 2018 when the import price increased by 8.4% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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