Asia: Aircraft Tyre Market 2024

Aircraft Tyre Market Size in Asia

In 2021, the Asian aircraft tyre market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +2.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Aircraft Tyre Production in Asia

In value terms, aircraft tyre production rose significantly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 15%. 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 Asia

In 2021, shipments abroad of tyres for aircraft was finally on the rise to reach X units for the first time since 2016, thus ending a four-year declining trend. In general, exports, however, saw a mild decrease. The volume of export peaked at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, aircraft tyre exports soared to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand represented the major exporter of tyres for aircraft in Asia, with the volume of exports amounting to X units, which was near 74% of total exports in 2021. Japan (X units) held a 16% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (4.5%). The following exporters - Hong Kong SAR (X units) and China (X units) - each recorded a 3.4% 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%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in Asia, 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. While the share of Thailand (+21 p.p.) and Singapore (+3.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Hong Kong SAR (-2.9 p.p.) and Japan (-16.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

Among the main exporting countries, Singapore, with a CAGR of +18.8%, saw the highest rates of growth with regard to the value of exports, 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 stood at $X per unit in 2021, approximately equating the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2019 when the export price increased by 19%. As a result, the export price attained 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 ($X per unit), while Thailand ($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

In 2021, purchases abroad of tyres for aircraft decreased by -8% to X units, falling for the seventh year in a row after three years of growth. Overall, imports showed a perceptible contraction. The most prominent rate of growth was recorded in 2014 with an increase of 41%. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, aircraft tyre imports dropped to $X in 2021. In general, imports recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by 8.5% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) represented the main importer of tyres for aircraft, comprising 28% of total imports. It was distantly followed by the United Arab Emirates (X units), Singapore (X units), India (X units), Hong Kong SAR (X units) and Turkey (X units), together mixing up a 39% share of total imports. The following importers - Japan (X units), Thailand (X units), Indonesia (X units), South Korea (X units), Malaysia (X units) and Taiwan (Chinese) (X units) - together made up 20% of total imports.

Imports into China decreased at an average annual rate of -2.7% from 2012 to 2021. At the same time, Turkey (+15.1%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in Asia, with a CAGR of +15.1% from 2012-2021. The United Arab Emirates and Singapore experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-2.7%), Japan (-3.0%), 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. From 2012 to 2021, the share of the United Arab Emirates, China, Turkey and Singapore increased by +4.4, +4, +4 and +3.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), the United Arab Emirates ($X) and Singapore ($X) were the countries with the highest levels of imports in 2021, with a combined 46% share of total imports. These countries were followed by India, Turkey, Thailand, Hong Kong SAR, Japan, Indonesia, South Korea, Taiwan (Chinese) and Malaysia, which together accounted for a further 34%.

In terms of the main importing countries, Turkey, with a CAGR of +15.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, dropping by -3.1% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 17%. Over the period under review, import prices attained 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 the United Arab Emirates ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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