South-Eastern Asia: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in South-Eastern Asia

The Southeast Asian passenger car tyre market totaled $X in 2021, flattening at the previous year. In general, consumption continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 9.1% against the previous year. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Passenger Car Tyre Production in South-Eastern Asia

In value terms, passenger car tyre production rose modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 8.6% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Passenger Car Tyre Exports

Exports in South-Eastern Asia

In 2021, overseas shipments of tyres for motor cars were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Total exports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -4.4% against 2018 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 22% against the previous year. The volume of export peaked at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, passenger car tyre exports rose markedly to $X in 2021. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 14%. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand was the major exporter of tyres for motor cars in South-Eastern Asia, with the volume of exports accounting for X units, which was approx. 65% of total exports in 2021. Indonesia (X units) took the second position in the ranking, distantly followed by Malaysia (X units) and the Philippines (X units). All these countries together took near 32% share of total exports. Vietnam (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to passenger car tyre exports from Thailand stood at +7.4%. At the same time, Malaysia (+11.5%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +11.5% from 2012-2021. The Philippines, Vietnam and Indonesia experienced a relatively flat trend pattern. From 2012 to 2021, the share of Thailand and Malaysia increased by +13 and +2.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest passenger car tyre supplier in South-Eastern Asia, comprising 59% of total exports. The second position in the ranking was held by Indonesia ($X), with a 27% share of total exports. It was followed by the Philippines, with a 5.9% share.

In Thailand, passenger car tyre exports increased at an average annual rate of +5.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (-0.4% per year) and the Philippines (+1.5% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, growing by 3.3% against the previous year. Over the period under review, the export price, however, showed a slight setback. The most prominent rate of growth was recorded in 2019 when the export price increased by 9% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Indonesia ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+1.1%), while the other leaders experienced mixed trends in the export price figures.

Passenger Car Tyre Imports

Imports in South-Eastern Asia

In 2021, supplies from abroad of tyres for motor cars was finally on the rise to reach X units after four years of decline. Total imports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -11.6% against 2016 indices. The pace of growth appeared the most rapid in 2016 with an increase of 34%. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, passenger car tyre imports stood at $X in 2021. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 15% against the previous year. As a result, imports attained the peak of $X; afterwards, it flattened through to 2021.

Imports by Country

In 2021, Malaysia (X units), distantly followed by Thailand (X units), the Philippines (X units), Singapore (X units), Vietnam (X units) and Indonesia (X units) represented the largest importers of tyres for motor cars, together comprising 93% of total imports. Cambodia (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cambodia (with a CAGR of +33.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car tyre importing markets in South-Eastern Asia were Malaysia ($X), Thailand ($X) and Singapore ($X), together accounting for 66% of total imports. These countries were followed by Vietnam, the Philippines, Indonesia and Cambodia, which together accounted for a further 30%.

Cambodia, with a CAGR of +27.4%, saw the highest growth rate of the value of imports, in terms of the main importing countries 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 South-Eastern Asia stood at $X per unit in 2021, growing by 1.9% against the previous year. Overall, the import price, however, showed a noticeable decline. The pace of growth appeared the most rapid in 2018 when the import price increased by 16%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+1.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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