South-Eastern Asia: Aircraft Tyre Market 2024

Aircraft Tyre Market Size in South-Eastern Asia

In 2021, the Southeast Asian aircraft tyre market decreased by -10.6% to $X, falling for the fourth year in a row after four years of growth. In general, consumption showed a slight curtailment. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Aircraft Tyre Production in South-Eastern Asia

In value terms, aircraft tyre production expanded markedly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when the production volume increased by 28%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Aircraft Tyre Exports

Exports in South-Eastern Asia

In 2021, shipments abroad of tyres for aircraft increased by 55% to X units for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, aircraft tyre exports skyrocketed to $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand dominates exports structure, accounting for X units, which was approx. 94% of total exports in 2021. It was distantly followed by Singapore (X units), creating a 5.8% 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 South-Eastern Asia, with a CAGR of +19.3% from 2012-2021. While the share of Singapore (+4.3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-2.6 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest aircraft tyre supplier in South-Eastern Asia, comprising 92% of total exports. The second position in the ranking was taken by Singapore ($X), with a 7.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Thailand amounted to +6.4%.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, increasing by 7.1% against the previous year. Export price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, aircraft tyre export price decreased by -23.5% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the export price increased by 43% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Singapore ($X per unit), while Thailand amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+4.3%).

Aircraft Tyre Imports

Imports in South-Eastern Asia

For the third year in a row, South-Eastern Asia recorded decline in purchases abroad of tyres for aircraft, which decreased by -11.7% to X units in 2021. In general, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2014 with an increase of 173% against the previous year. 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 reduced to $X in 2021. Over the period under review, imports continue to indicate a deep setback. The growth pace was the most rapid in 2014 when imports increased by 25%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Singapore (X units) represented the largest importer of tyres for aircraft, creating 45% of total imports. Thailand (X units) ranks second in terms of the total imports with an 18% share, followed by Indonesia (16%), Malaysia (10%) and Vietnam (5.2%). The Philippines (X units) followed a long way behind the leaders.

Singapore experienced a relatively flat trend pattern with regard to volume of imports of tyres for aircraft. Malaysia (-4.9%), Indonesia (-5.7%), Vietnam (-8.2%), the Philippines (-12.6%) and Thailand (-13.8%) illustrated a downward trend over the same period. Singapore (+21 p.p.) significantly strengthened its position in terms of the total imports, while the Philippines and Thailand saw its share reduced by -3.1% and -20.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X), Thailand ($X) and Indonesia ($X) were the countries with the highest levels of imports in 2021, together accounting for 77% of total imports.

Singapore, with a CAGR of +0.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2021, therefore, remained relatively stable against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 77%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+12.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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