Thailand: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in Thailand

In 2021, the Thai passenger car tyre market decreased by -7.3% to $X, falling for the second year in a row after four years of growth. In general, consumption saw a perceptible reduction. Passenger car tyre consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Passenger Car Tyre Production in Thailand

In value terms, passenger car tyre production rose slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% 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 2017 with an increase of 15%. Passenger car tyre production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Passenger Car Tyre Exports

Exports from Thailand

In 2021, after two years of decline, there was significant growth in shipments abroad of tyres for motor cars, when their volume increased by 5.5% to X units. In general, total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 32%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, passenger car tyre exports expanded sharply to $X in 2021. Over the period under review, total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -6.3% against 2019 indices. The growth pace was the most rapid in 2017 when exports increased by 21%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for passenger car tyre exports from Thailand, accounting for a 54% share of total exports. Moreover, passenger car tyre exports to the United States exceeded the volume sent to the second major destination, Japan (X units), tenfold. The third position in this ranking was taken by Australia (X units), with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +16.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+3.5% per year) and Australia (+8.8% per year).

In value terms, the United States ($X) remains the key foreign market for tyres for motor cars exports from Thailand, comprising 52% of total exports. The second position in the ranking was held by South Korea ($X), with a 5.5% share of total exports. It was followed by Japan, with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +12.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+36.4% per year) and Japan (+3.2% per year).

Export Prices by Country

The average passenger car tyre export price stood at $X per unit in 2021, therefore, remained relatively stable against the previous year. In general, the export price saw a mild decrease. The growth pace was the most rapid in 2019 an increase of 17% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was South Korea ($X per unit), while the average price for exports to Malaysia ($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 (+2.0%), while the prices for the other major destinations experienced mixed trend patterns.

Passenger Car Tyre Imports

Imports into Thailand

Passenger car tyre imports into Thailand fell to X units in 2021, with a decrease of -7.1% on 2020. Over the period under review, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +78.5% against 2014 indices. The most prominent rate of growth was recorded in 2018 with an increase of 31% against the previous year. Over the period under review, imports reached the maximum at X units in 2020, and then fell in the following year.

In value terms, passenger car tyre imports dropped to $X in 2021. Overall, total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.0% 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 -5.8% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 37% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of passenger car tyre to Thailand, with a 44% share of total imports. Moreover, passenger car tyre imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), fivefold. Malaysia (X units) ranked third in terms of total imports with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-3.1% per year) and Malaysia (-0.5% per year).

In value terms, China ($X) constituted the largest supplier of tyres for motor cars to Thailand, comprising 30% of total imports. The second position in the ranking was held by Japan ($X), with an 11% share of total imports. It was followed by Malaysia, with an 8.1% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-8.7% per year) and Malaysia (+0.9% per year).

Import Prices by Country

In 2021, the average passenger car tyre import price amounted to $X per unit, with an increase of 6.1% against the previous year. In general, the import price, however, continues to indicate a pronounced slump. The import price peaked 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 the United States ($X per unit), while the price for Taiwan (Chinese) ($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 United States (+1.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :