China’s annual production of pneumatic tires was more than 800 million in 2015-2019, the highest output was 1.04 billion in 2018. Due to the upstream rubber industry and the downstream automobile industry, the tire production in 2019 has declined, only 842.26 million.
According to CRI, the tires exported by China are new pneumatic tires, which are mainly used for passenger cars and commercial vehicles (buses and lorries).
According to CRI, from 2017 to 2019, the export volume increased from 289.59 million to 315.58 million. Affected by the COVID-19 from January to April 2020, the number of tire exports is relatively small, only 84.71 million, down by 13.45 million, or 13.70% compared to the same period in 2019.
Although the volume of passenger car tires exports is more than that of commercial car tires, the amount of commercial car tires exports is higher. In 2019, the export volume of passenger car tires was 223.23 million, the value was USD 5,569.82 million, while the volume of commercial vehicle tires was 92.36 million, worth USD 7,350.04 million.
The export destinations of passenger car tires are always relatively scattered, with only the UK keeping ranking the first, accounting for 8-10% of the total volume. While commercial vehicle tires were mainly exported to the United States. Even in the face of the Sino-U.S. trade war and epidemic situation, the United States was still the first export destination, accounting for 14-26% of the total volume.
China government encourages enterprises to export tires, while lots of other countries have raised tariffs on Chinese tires. Considering pandemic and other factors, the export is estimated to be relatively low in 2020 and gradually recovered after 2021.
According to CRI, the USA, the UK and Mexico are expected to be the top three export destinations in next five years, followed by Germany, Saudi Arabia and the United Arab Emirates.
Readers may obtain the following information through this report:
– Economic Environment of Tires Industry in China
– Policies in Exported Tires in China
– Analysis on Supply of Tires in China
– Analysis of Exported Tires in China
– Analysis of Major Destinations of Exported Tires in China
– Price Trend of Exported Tires in China
– Driving Forces and Opportunities of Exported Tires in China
– Forecast on Exported Tires in China 2020-2024