Research and Markets announced the addition of the “Research Report on China’s Tire Export Industry, 2011-2020” report to their offering.
In 2015, China exported 44.451 million tyres with a year-on-year decreasing of 6.58% and brought in an export value of USD 13.846 billion with a year-on-year growth decreasing 15.81% year on year. Influenced by the continuous decline in the global price of natural rubber in recent years, costs of tyre production have decreased too, leading to a decline in average unit price.
Chinese tyres are exported to over 200 countries and regions, among which the US is the largest export market. In 2015, China exported 1.065 million tons of tyres to the US with a year-on-year decreasing of 20.78% and brought in an export value of USD 2.783 billion with a year-on-year decreasing of 23%.
The EU is the second largest tyre export market. Besides, the United Arab Emirates, Mexico, Russia, Saudi Arabia and Australia all constitute important export destinations of tyres.
In 2016, the export of Chinese tyres still seems unpredictable due to the slow growth in the global economy and shrunk domestic demand. On one hand, as the European and Japanese economies are on the brink of recession and emerging economies slow down their growth, the external market demand is limited; on the other hand, the competitive devaluation of foreign currencies has resulted in the passive appreciation of RMB and thus the decreased competitiveness of Chinese exports.
On the whole, as China has great cost and industrial chain advantages, the Chinese tyre industry is expected to maintain its status in the global market in the near future and reports a continuous increase in export.