Eastern Asia: Tyre Market 2024

Tyre Market Size in Eastern Asia

The East Asian tyre market amounted to $X in 2022, increasing by X% against the previous year. In general, consumption, however, saw a mild descent. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Tyre Production in Eastern Asia

In value terms, tyre production fell modestly to $X in 2022 estimated in export price. Overall, production, however, saw a mild reduction. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Tyre Exports

Exports in Eastern Asia

In 2022, approx. X units of tyres were exported in Eastern Asia; with a decrease of X% on the year before. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports attained the peak of X units, and then declined modestly in the following year.

In value terms, tyre exports rose rapidly to $X in 2022. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China dominates exports structure, resulting at X units, which was approx. X% of total exports in 2022. Japan (X units) ranks second in terms of the total exports with a X% share, followed by South Korea (X%) and Taiwan (Chinese) (X%).

China was also the fastest-growing in terms of the tyres exports, with a CAGR of X% from 2012 to 2022. Taiwan (Chinese) (X%), South Korea (X%) and Japan (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese), South Korea and Japan saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest tyre supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports. It was followed by South Korea, with an X% share.

In China, tyre exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (X% per year) and South Korea (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, growing by X% against the previous year. Over the period under review, the export price, however, showed a slight slump. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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 Japan ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced more modest paces of growth.

Tyre Imports

Imports in Eastern Asia

In 2022, the amount of tyres imported in Eastern Asia reduced to X units, falling by X% on 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, tyre imports reduced modestly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then contracted modestly in the following year.

Imports by Country

The countries with the highest levels of tyre imports in 2022 were Japan (X units), South Korea (X units), Taiwan (Chinese) (X units) and China (X units), together reaching X% of total import. Hong Kong SAR (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by South Korea (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 Eastern Asia were Japan ($X), South Korea ($X) and China ($X), with a combined X% share of total imports.

In terms of the main importing countries, South Korea, with a CAGR of X%, recorded the highest growth rate of 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 2022, the import price in Eastern Asia amounted to $X per unit, with an increase of X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of X%. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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