Asia: Tyre Market 2024

Tyre Market Size in Asia

In 2022, the Asian tyre market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X%. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Tyre Production in Asia

In value terms, tyre production declined slightly to $X in 2022 estimated in export price. The total production indicated a mild expansion 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, production increased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Tyre Exports

Exports in Asia

In 2022, approx. X units of tyres were exported in Asia; with a decrease of X% compared with 2021 figures. The total export volume 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 pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The volume of export peaked at X units in 2021, and then fell in the following year.

In value terms, tyre exports totaled $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

China represented the key exporting country with an export of around X units, which reached X% of total exports. It was distantly followed by Thailand (X units), Vietnam (X units) and India (X units), together comprising a X% share of total exports. Indonesia (X units), Japan (X units), South Korea (X units), Turkey (X units) and the United Arab Emirates (X units) took a little share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%), Vietnam (X%), Turkey (X%), Thailand (X%) and India (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Indonesia (X%), South Korea (X%) and Japan (X%) illustrated a downward trend over the same period. Vietnam (X p.p.), China (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the total exports, while Indonesia, South Korea and Japan saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, tyre exports increased 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: Thailand (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the export price, however, saw a slight reduction. The growth pace was the most rapid in 2018 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while Vietnam ($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 Asia

In 2022, imports of tyres in Asia shrank to X units, dropping by X% compared with the previous year. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the maximum at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, tyre imports contracted to $X in 2022. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

In 2022, Malaysia (X units), Japan (X units), the Philippines (X units), Turkey (X units), South Korea (X units), the United Arab Emirates (X units), China (X units), Thailand (X units), Uzbekistan (X units), Iraq (X units), Cambodia (X units) and Vietnam (X units) was the key importer of tyres in Asia, creating X% of total import. Indonesia (X units) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (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 Asia were Japan ($X), the United Arab Emirates ($X) and Turkey ($X), with a combined X% share of total imports. South Korea, Indonesia, Malaysia, China, Iraq, Vietnam, Thailand, the Philippines, Uzbekistan and Cambodia lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Uzbekistan, with a CAGR of X%, 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 more modest paces of growth.

Import Prices by Country

The import price in Asia 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 mild reduction. The most prominent rate of growth was recorded in 2018 when the import price increased by X%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Uzbekistan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :