2024 Global Export Statistics of Chinese Tires (Semi Steel Edition)
From January to August this year, the cumulative export volume of Chinese car tires was about 236 million, a year-on-year increase of 15.34%; The cumulative export amount is about 6.068 billion US dollars (about 42.939 billion RMB), a year-on-year increase of 14.29%; Tire prices decreased slightly by 0.78% year-on-year.
1. UK, Brazil, Russia, top three car tire exports!
In terms of the export value of car tires, from January to August, 17 countries/regions had an export value exceeding 100 million US dollars. Among them, the UK is the country with the largest export value, accounting for approximately $424 million, or 6.99% of the total export value.
In terms of export quantity, Brazil is the country with the highest export volume, exporting about 18.736 million units from January to August, followed by the United Kingdom and Germany, with about 16.923 million and 11.348 million units respectively.
Among the top 20 countries/regions in terms of export value, only two countries showed a year-on-year decrease in export value, namely Saudi Arabia, which decreased by 8.19% year-on-year; Kazakhstan saw a year-on-year decrease of 12.64%. Meanwhile, the import volume of car tires in these two countries has also decreased year-on-year. Among the top 20 countries, the United Arab Emirates, Brazil, Canada, the United Kingdom, Iraq, Poland, and Germany have an import value and volume growth rate of over 20%.
It is worth noting that due to the increase in import volume, Brazil decided in September this year to raise the import tax on passenger car tires from 16% to 25%; The final ruling of the anti-dumping investigation on semi steel tires from Mexico, the fifth largest exporting country, has also been confirmed.
2. Export to South America, with the fastest growth rate
From a global regional ranking perspective, Western Europe is the largest exporter of Chinese car tires, with an export value of approximately 930 million US dollars from January to August and an export quantity of 36.445 million pieces.
European industry insiders have stated that about half of all light vehicle tires on EU roads are imported tires. With the rise in fuel prices and the decline in income, high-pressure EU consumers are more likely to look for cheap tires.
But this is not just a product with lower quality and smaller wheel size. The era when low-priced Chinese tires only served the 14-16 inch market is over. Now, about half of the 17-18 inch tires come from regions that produce low-priced tires, including China, India, Thailand, and South Korea.
Western Asia ranked second in terms of exports, mainly because of the continuous promotion of the "the Belt and Road" strategy.
It is worth mentioning that South America is the fastest-growing region in the world. Due to the growth of the local automobile market, Chinese car manufacturers such as BYD, Chery, and Great Wall Motors have invested in building factories in the area, bringing considerable demand for tires. Meanwhile, two Chinese tire manufacturers are also interested in investing in building factories in South America.
Meanwhile, among the 19 global regions, only four regions, namely Central Asia, North Africa, West Africa, and Central Africa, experienced a decline in the export volume of car tires.