South-Eastern Asia: Tyre Market 2024

Tyre Market Size in South-Eastern Asia

The Southeast Asian tyre market expanded to $X in 2022, surging by X% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Tyre Production in South-Eastern Asia

In value terms, tyre production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Tyre Exports

Exports in South-Eastern Asia

For the seventh year in a row, South-Eastern Asia recorded growth in shipments abroad of tyres, which increased by X% to X units in 2022. Total exports indicated a perceptible expansion from 2012 to 2022: its volume 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, exports increased by X% against 2013 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, tyre exports reached $X in 2022. Total exports indicated a prominent increase 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, exports increased by X% against 2015 indices. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

In 2022, Thailand (X units) was the key exporter of tyres, mixing up X% of total exports. Vietnam (X units) ranks second in terms of the total exports with a X% share, followed by Indonesia (X%). The following exporters - the Philippines (X units) and Malaysia (X units) - together made up X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

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

From 2012 to 2022, the average annual growth rate of value in Thailand stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, flattening at the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the export price increased by X%. Over the period under review, the export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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 Malaysia ($X per unit), while Vietnam ($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 South-Eastern Asia

In 2022, after two years of growth, there was decline in overseas purchases of tyres, when their volume decreased by X% to X units. Total imports indicated pronounced growth from 2012 to 2022: its volume 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, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of X units, and then reduced in the following year.

In value terms, tyre imports rose notably to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, Malaysia (X units) and the Philippines (X units) represented the key importers of tyres in South-Eastern Asia, together making up X% of total imports. Thailand (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Cambodia (X%), Vietnam (X%), Indonesia (X%) and Singapore (X%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tyre importing markets in South-Eastern Asia were Indonesia ($X), Malaysia ($X) and Vietnam ($X), with a combined X% share of total imports. Thailand, the Philippines, Singapore and Cambodia lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, the Philippines, 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 South-Eastern Asia stood at $X per unit in 2022, increasing by X% against the previous year. Over the period under review, the import price, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2018 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: 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 Indonesia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :