Malaysia: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in Malaysia

The Malaysian passenger car tyre market rose remarkably to $X in 2021, growing by 14% against the previous year. Over the period under review, the total consumption indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -15.2% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Passenger Car Tyre Production in Malaysia

In value terms, passenger car tyre production surged to $X in 2021 estimated in export price. In general, the total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -11.7% against 2019 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 84% against the previous year. Passenger car tyre production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Passenger Car Tyre Exports

Exports from Malaysia

For the fifth consecutive year, Malaysia recorded growth in shipments abroad of tyres for motor cars, which increased by 12% to X units in 2021. Over the period under review, exports showed a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 31%. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, passenger car tyre exports rose markedly to $X in 2021. In general, exports saw buoyant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 82% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

Exports by Country

The United States (X units) was the main destination for passenger car tyre exports from Malaysia, with a 58% share of total exports. Moreover, passenger car tyre exports to the United States exceeded the volume sent to the second major destination, Thailand (X units), ninefold. The third position in this ranking was held by Russia (X units), with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +54.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-2.6% per year) and Russia (+12.7% per year).

In value terms, the United States ($X) remains the key foreign market for tyres for motor cars exports from Malaysia, comprising 60% of total exports. The second position in the ranking was held by Thailand ($X), with a 6.8% share of total exports. It was followed by Russia, with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +62.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-0.2% per year) and Russia (+10.7% per year).

Export Prices by Country

The average passenger car tyre export price stood at $X per unit in 2021, declining by -2.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2014 when the average export price increased by 39%. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per unit), while the average price for exports to Japan ($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 the United States (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Tyre Imports

Imports into Malaysia

In 2021, supplies from abroad of tyres for motor cars increased by 11% to X units for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 13%. As a result, imports attained the peak of X units. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, passenger car tyre imports rose remarkably to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 17% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), Thailand (X units) and Indonesia (X units) were the main suppliers of passenger car tyre imports to Malaysia, with a combined 80% share of total imports. These countries were followed by Japan, Vietnam, South Korea and the Philippines, which together accounted for a further 14%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +28.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car tyre suppliers to Malaysia were Thailand ($X), China ($X) and Indonesia ($X), with a combined 72% share of total imports. These countries were followed by Japan, South Korea, Vietnam and the Philippines, which together accounted for a further 13%.

South Korea, with a CAGR of +26.0%, saw the highest growth rate of 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

The average passenger car tyre import price stood at $X per unit in 2021, flattening at the previous year. Overall, the import price, however, continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2018 an increase of 4.2% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per unit), while the price for Vietnam ($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 (-1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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