Malaysia: Aircraft Tyre Market 2024

Aircraft Tyre Market Size in Malaysia

For the third consecutive year, the Malaysian aircraft tyre market recorded decline in sales value, which decreased by -7.7% to $X in 2021. Over the period under review, consumption showed a pronounced reduction. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Aircraft Tyre Production in Malaysia

In value terms, aircraft tyre production dropped to $X in 2021 estimated in export price. In general, production showed a pronounced contraction. The growth pace was the most rapid in 2018 when the production volume increased by 43% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Aircraft Tyre Exports

Exports from Malaysia

For the third consecutive year, Malaysia recorded decline in overseas shipments of tyres for aircraft, which decreased by -53.6% to X units in 2021. In general, exports, however, showed a noticeable increase. The pace of growth appeared the most rapid in 2018 with an increase of 1,434%. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, aircraft tyre exports dropped remarkably to $X in 2021. Overall, exports, however, saw a moderate expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 1,108% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X units), Spain (X units) and China (X units) were the main destinations of aircraft tyre exports from Malaysia, together comprising 65% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +226.8%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Singapore ($X) and China ($X) appeared to be the largest markets for aircraft tyre exported from Malaysia worldwide, together comprising 60% of total exports.

Spain, with a CAGR of +1,182.6%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average aircraft tyre export price amounted to $X per unit, with an increase of 27% against the previous year. Overall, the export price showed a mild expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by 145% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was China ($X per unit), while the average price for exports to Austria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+84.8%), while the prices for the other major destinations experienced more modest paces of growth.

Aircraft Tyre Imports

Imports into Malaysia

In 2021, overseas purchases of tyres for aircraft decreased by -6.3% to X units, falling for the second consecutive year after two years of growth. Over the period under review, imports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2019 with an increase of 111% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, aircraft tyre imports reduced to $X in 2021. In general, imports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2019 with an increase of 90%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Thailand (X units) constituted the largest aircraft tyre supplier to Malaysia, with a 35% share of total imports. Moreover, aircraft tyre imports from Thailand exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. The third position in this ranking was held by Hong Kong SAR (X units), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand totaled +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+65.8% per year) and Hong Kong SAR (-16.9% per year).

In value terms, the largest aircraft tyre suppliers to Malaysia were Thailand ($X), Hong Kong SAR ($X) and Singapore ($X), with a combined 63% share of total imports. The United Arab Emirates, the United States, Italy, India, the UK and Indonesia lagged somewhat behind, together accounting for a further 30%.

Italy, with a CAGR of +48.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average aircraft tyre import price amounted to $X per unit, surging by 3.3% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2020 when the average import price increased by 22% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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