South-Eastern Asia: Tyre Market 2024

Tyre Market Size in South-Eastern Asia

In 2022, the Southeast Asian tyre market was finally on the rise to reach $X after two years of decline. In general, consumption showed a mild decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Tyre Production in South-Eastern Asia

In value terms, tyre production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Tyre Exports

Exports in South-Eastern Asia

In 2022, the amount of tyres exported in South-Eastern Asia expanded modestly to X units, with an increase of X% on 2021. The total export volume 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 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, tyre exports rose notably to $X in 2022. Total exports indicated a buoyant 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 most prominent rate of growth was recorded in 2017 when exports increased by X%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

Thailand represented the major exporting country with an export of around X units, which recorded X% of total exports. Indonesia (X units) took the second position in the ranking, followed by Vietnam (X units). All these countries together held near X% share of total exports. The following exporters - Malaysia (X units) and the Philippines (X units) - each recorded a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to tyre exports from Thailand stood at X%. At the same time, Vietnam (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2022. The Philippines experienced a relatively flat trend pattern. By contrast, Indonesia (X%) illustrated a downward trend over the same period. Vietnam (X p.p.), Thailand (X p.p.) and Malaysia (X p.p.) significantly strengthened its position in terms of the total exports, while Indonesia saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Thailand, tyre exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Indonesia (X% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 an increase of X%. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Vietnam ($X per unit) and Malaysia ($X per unit), while Indonesia ($X per unit) and the Philippines ($X per unit) were amongst the lowest.

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

Tyre Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of tyres increased by X% to X units, rising for the third consecutive year after two years of decline. Total imports indicated a tangible 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 2019 indices. The most prominent rate of growth was recorded in 2016 when imports increased by X%. The volume of import peaked in 2022 and is likely to continue growth in years to come.

In value terms, 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 in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia (X units) and the Philippines (X units) represented roughly X% of total imports in 2022. Thailand (X units) held the next position in the ranking, followed by Cambodia (X units), Vietnam (X units) and Indonesia (X units). All these countries together held approx. X% share of total imports. Singapore (X units) followed a long way behind the leaders.

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

In value terms, Indonesia ($X), Malaysia ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Among the main importing countries, Vietnam, 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 South-Eastern Asia amounted to $X per unit, surging by X% against the previous year. In general, the import price, however, showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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

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