Malaysia: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in Malaysia

The Malaysian passenger car tyre market reached $X in 2022, surging by X% against the previous year. In general, the total consumption indicated a temperate expansion 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, consumption increased by X% against 2019 indices. Passenger car tyre consumption peaked in 2022 and is expected to retain growth in the near future.

Passenger Car Tyre Production in Malaysia

In value terms, passenger car tyre production shrank to $X in 2022 estimated in export price. Overall, production, however, posted measured growth. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Passenger Car Tyre Exports

Exports from Malaysia

Passenger car tyre exports from Malaysia dropped slightly to X units in 2022, which is down by X% on the previous year's figure. In general, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, passenger car tyre exports dropped to $X in 2022. Overall, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2021, and then contracted in the following year.

Exports by Country

The United States (X units) was the main destination for passenger car tyre exports from Malaysia, accounting for a X% share of total exports. Moreover, passenger car tyre exports to the United States exceeded the volume sent to the second major destination, Thailand (X units), ninefold. Brazil (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Brazil (X% per year).

In value terms, the United States ($X) remains the key foreign market for tyres for motor cars exports from Malaysia, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with an X% share of total exports. It was followed by Australia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Australia (X% per year).

Export Prices by Country

The average passenger car tyre export price stood at $X per unit in 2022, which is down by X% against the previous year. Over the period under review, the export price recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2021 an increase of X%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the average price for exports to Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced mixed trend patterns.

Passenger Car Tyre Imports

Imports into Malaysia

In 2022, overseas purchases of tyres for motor cars increased by X% to X units, rising for the second year in a row after two years of decline. In general, total imports indicated a strong increase 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 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, passenger car tyre imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Thailand (X units) and Indonesia (X units) were the main suppliers of passenger car tyre imports to Malaysia, with a combined X% share of total imports. Japan, South Korea, Vietnam and the Philippines lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, 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 passenger car tyre suppliers to Malaysia were Thailand ($X), China ($X) and Indonesia ($X), together comprising X% of total imports. Japan, South Korea, Vietnam and the Philippines lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, South Korea, with a CAGR of X%, saw 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 average passenger car tyre import price amounted to $X per unit, rising by X% against the previous year. Over the period under review, the import price, however, saw a perceptible setback. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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