The US leads the way when it comes to global tyre imports, accounting for 18% share. It is followed by Germany with 9% and France with 5%. Overall US tyre imports amounted to US$15.221 million in 2015, which was US$352 million or 2% less than the year before, according to a new report by Research and Markets, “US Tire Market – Analysis And Forecast to 2020”.
The report provides an in-depth analysis of the US tyre market, with the exception of retreading. Latest data of the market size and volume, domestic production, exports and imports, price dynamics and turnover in the industry are presented in the report.
In addition, the report contains insightful information about the industry, including industry life cycle, business locations, productivity, employment and many other crucial aspects.
From 2007 to 2015, US tyre imports showed mixed dynamics. A significant drop in 2009 was followed by robust growth over the next three years, until imports leveled off through to 2015, with small fluctuations near US$15 billion. In 2010, US tyre imports exceeded their pre-recession level of 2007.
Leading the global imports, the US remains one of the most attractive destinations for overseas suppliers.
China was the main supplier of tyres into the US, with a 22% share of total US imports in 2015. It was distantly followed by Canada (11%), Korea (10%), Japan (10%), and Thailand (8%). Imports from China displayed steady growth, but the decline of 2015 led to only a moderate average annual rate of +2.6% from 2007 to 2015.
Thailand and Korea were fast-growing suppliers (+16.6% per year and +7.5% per year, respectively), and Canada nearly returned to the outset level over the same period. From 2007 to 2015, Thailand and Korea strengthened their positions in the US import structure by +4 percentage points and +1 percentage point, respectively, while the other major supplying countries saw their shares reduced.
From 2007 to 2015, the US was a net importer of tyres. Moreover, imports grew faster than exports on average over the period under review.
Net US tyre imports showed an upward trend over the period under review. In 2015, this industry ran a massive trade deficit of about US$10 billion.
The report covers: passenger car pneumatic tyres (casings); truck and bus (including off-the-highway) pneumatic tyres; tractor and implement (farm and industrial) pneumatic tyres; industrial and utility pneumatic tyres (including garden); other pneumatic tyres and casing including motor bike, motorcycle, moped, bicycle, aircraft, and mobile home; solid and semi-pneumatic tyres (inner tubes); tread rubber, tyre sundries, and repair materials; and tyre manufacturing (except retreading).
The Company Profiles section contains relevant data on the major players in the industry. Companies mentioned in the report are: Michelin North America, Bridgestone Americas, The Goodyear Tire & Rubber Company, Cooper Tire & Rubber Company, Continental Tire The Americas, Pirelli Rnc, Technical Rubber Company, Superior Tire & Rubber Corp., Trelleborg Wheel Systems Americas, Specialty Tires of America, Hankook Tire America Corporation, Mitas Tires North America, Eurotire, Pirelli Tire, Brahler’s Truckers Supply, Continental Automotive, Gpx International Tire Corporation, Bridgestone Americas Tire Operations, Oliver Rubber Company, Titan Tire Corporation, Setco, Michelin Corporation, Toyo Tire North America Manufacturing, Les Schwab Tire Centers of Oregon, Toyo Tire Holdings of Americas, US Test Company 316, Yokohama Corporation of North America, Continental Tire Holding US, Yokohama Tire Manufacturing Virginia.