Thailand: Aircraft Tyre Market 2024

Aircraft Tyre Market Size in Thailand

In 2021, the Thai aircraft tyre market decreased by -18.9% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption saw a pronounced setback. Aircraft tyre consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Aircraft Tyre Production in Thailand

In value terms, aircraft tyre production surged to $X in 2021 estimated in export price. Over the period under review, the total production indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.2% 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 -15.5% against 2017 indices. The most prominent rate of growth was recorded in 2015 with an increase of 37%. Aircraft tyre production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Aircraft Tyre Exports

Exports from Thailand

After two years of decline, shipments abroad of tyres for aircraft increased by 56% to X units in 2021. The total export volume increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, aircraft tyre exports surged to $X in 2021. In general, total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.4% 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

The United States (X units) was the main destination for aircraft tyre exports from Thailand, with a 56% share of total exports. Moreover, aircraft tyre exports to the United States exceeded the volume sent to the second major destination, France (X units), fourfold. The third position in this ranking was held by China (X units), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+4.9% per year) and China (+3.5% per year).

In value terms, the United States ($X) remains the key foreign market for tyres for aircraft exports from Thailand, comprising 37% of total exports. The second position in the ranking was taken by France ($X), with a 14% share of total exports. It was followed by China, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+0.9% per year) and China (+8.9% per year).

Export Prices by Country

In 2021, the average aircraft tyre export price amounted to $X per unit, picking up by 8% against the previous year. In general, export price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +4.3% 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 -23.7% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 46%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was India ($X per unit), while the average price for exports to Australia ($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 India (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.

Aircraft Tyre Imports

Imports into Thailand

For the third consecutive year, Thailand recorded decline in overseas purchases of tyres for aircraft, which decreased by -34.7% to X units in 2021. Overall, imports showed a deep slump. The growth pace was the most rapid in 2014 when imports increased by 611%. 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 fell significantly to $X in 2021. Over the period under review, imports faced a deep setback. The pace of growth appeared the most rapid in 2018 when imports increased by 99% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The United States (X units), France (X units) and the United Arab Emirates (X units) were the main suppliers of aircraft tyre imports to Thailand, together accounting for 77% of total imports. Japan, the UK and Australia lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +117.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest aircraft tyre suppliers to Thailand were France ($X), the United States ($X) and the United Arab Emirates ($X), together comprising 82% of total imports. These countries were followed by Japan, the UK and Australia, which together accounted for a further 14%.

In terms of the main suppliers, Japan, with a CAGR of +69.0%, 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

In 2021, the average aircraft tyre import price amounted to $X per unit, picking up by 5.6% against the previous year. Over the period under review, the import price, however, recorded a slight setback. The most prominent rate of growth was recorded in 2016 when the average import price increased by 291%. Over the period under review, average import prices hit record highs 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 France ($X per unit), while the price for Australia ($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 UK (+29.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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